Role and responsibilities of chief finance officer of the bureau of treasury

Some people just get it. Connect to your professional community - Ask questions. Give Answers. Get Involved.

Certification

• CTP
• Certified Treasury Professional
• Benefits of Certification
• CTP Exam Prep Platform
• CTP Recertification
• Submit CTP Recertification Credits
• Sponsor Program
• New CTP & CTPAs
• Maintaining Your Credential

• FP&A Professional
• Certified Corporate FP&A Professional
• Benefits of Certification
• FP&A Exam Prep Platform
• FPAC Recertification
• Submit FPAC Recertification Credits
• Sponsor Program
• New Certified Corporate FP&A Professionals
• Maintaining Your Credential

FP&A Exam Prep Platform
The Preferred Study Resource for FP&A Exams
Order Today

 

Ideas & Inspiration

• Topics
• Treasury
• FP&A
• Career Development
• Payments
• Articles
• AFP Asia-Pacific
• AFP Middle East and Africa
• Partner Content
• University Partnerships
• Cash Forecasting
• Why Working Capital Is Important

• Discussions
• AFP Collaborate
• AFP Conversations Podcast

Some people just get it. Connect to your professional community - Ask questions. Give Answers. Get Involved.

Publications & Data

• Publications
• AFP Exchange Magazine
• Newsletters
• Manage Subscriptions
• Books
• CE Quiz Pages

• Reports
• Survey Research & Economic Data
• Guides
• AFP Research Dashboards
• FP&A Maturity Model

• Data & Tools
• AFP Momentum Index
• AFP Service Codes
• AFP Member-Only Tools
• AFP Quick Study Tools

See where practitioners spending practices are headed in the latest Corporate Cash Indicators.

About

• Who We Are
• About AFP
• Advocacy
• AFP Subject Matter Experts
• Board of Directors
• AFP Asia-Pacific
• AFP Middle East and Africa
• AFP DEI Awareness Initiative

• Learn More
• Work at AFP
• Marketing Opportunities
• Press Releases
• Regional Associations
• Customer Support
• AFP Event Photo Policy

Some people just get it. Connect to your professional community - Ask questions. Give Answers. Get Involved.

• Login

• My Account My Account

  • Welcome !
  • Become a Member »

  Manage My Account Log Out

• Search
• Contact Us

More

• AFP 2023
• CTP
• FPAC
• Learn
• Collaborate
• Marketplace

Search

• AFP
• Ideas & Inspiration
• Articles

ArticlesTreasury Job Descriptions

• Published: 11/21/2022

The outlook for a career in treasury is strong. The U.S. Bureau of Labor Statistics projects that business and financial occupations will grow 7% from 2021 to 2031, resulting in about 715,100 new jobs over the decade.

In particular, there is great demand for skilled treasury professionals. Fifty-seven percent of treasury professionals say they find it challenging to fill treasury positions, according to the 2022 AFP Strategic Role of Treasury Survey. And the top challenge they cite is the limited talent pool.

In managing a company’s financial resources, the treasury department plays a crucial role in helping a company meet its business objectives. The responsibilities of corporate treasury are wide-ranging, including cash management, liquidity management, foreign exchange, risk management and regulatory compliance. In addition to assuming a strategic role within the organization, treasury departments are also increasingly supporting other functions, including business continuity planning and financial planning & analysis.

Below is a list of treasury titles and job descriptions along with the skills you need — updated for today’s world of corporate treasury:

TREASURER

Responsible for the oversight of the receivables management area including cash management, collections and refunds, as well as investments’ middle-office operations. Manages activities surrounding financial reporting, tax compliance, international accounting and consolidations and cash management planning in domestic and international efforts. This individual is often part of the executive team and typically reports directly to the CFO.

PRIMARY FUNCTIONS AND ESSENTIAL RESPONSIBILITIES

• Manage the financial affairs of the organization
• Oversee forecast cash flow positions, related borrowing needs and funds available for investment
• Ensure sufficient funds are available to meet ongoing operational and capital investment requirements
• Use hedging to mitigate financial risks related to the currency and interest rates on the company's cash flows and borrowings, as applicable
• Advise management on the liquidity aspects of its short- and long-range planning
• Maintain an efficient system of policies and procedures that impose an adequate level of control over treasury activities and provide support for regulatory reporting
• Ensure the accuracy and effectiveness of the organization’s billing programs
• Maintain all domestic and global banking relationships
• Maintain broker database for trade clearance and counterparty risk
• Maintain strong communications with banks and other financial service providers
• Develop a structure to work with business partners, shared services and FP&A to optimize working capital
• Develop performance monitoring of service providers including third-party managers, trustees and custodians
• Collaborate with internal stakeholders to maintain subsidiaries’ capital structures consistent with business, tax and regulatory requirements
• Develop strategic finance initiatives (rating agency presentations, M&A and financing requirements) in partnership with key stakeholders
• Complete special projects as assigned for presentation to senior management and external boards
• Develop treasury reporting dashboards appropriate for various stakeholders and track KPI
• Manage excess operating cash to obtain optimum interest revenue
• Oversee electronic cash receipt and cash disbursement processing and accounting
• Oversee daily cash positioning activities including managing daily liquidity, cash position reconciliation and bank reporting
• Enhance and manage the regional and corporate direct cash flow forecasting process
• Develop appropriate reporting and modelling capabilities required to support short-term and long-term liquidity forecasting needs through indirect modelling working closely with corporate FP&A
• Develop cash targets to support efficient liquidity management
• Serve as the primary contact with commercial banks in cash management services, trust, custody and with business managers regarding day-to-day treasury needs
• Act as authorized signatory on bank accounts and as an officer of company entities, as needed
• Monitor quarterly and annual compliance with loan agreements
• Oversee credit insurance program
• Lead in identifying risk, developing complex mitigation strategies
• Serve as the primary contact with investment advisors to ensure alignment with investment policy, recommend funding for enough cash flow, review monthly returns and assess manager performance
• Oversee execution of investment transactions (redemptions and purchases) approved by the investment committee of the Board of Directors
• Review and analyze banking and investment management fees to identify cost reductions
• In conjunction with private equity sponsors and senior management, manage capital market efforts that allow for efficient capital structure and enable growth
• Monitor debt covenant compliance and prepare related calculations and certificates, in accordance with debt agreements
• Act as treasury liaison internally for leasing analysis of property, plant and equipment
• Direct the FX exposure management through cash flow, balance sheet and net investment hedging programs
• Manage FX and interest-rate risk
• Develop and lead hedging programs to mitigate risk from currency and interest rate fluctuation
• Responsible for investing funds consistent with applicable laws
• Develop and enforce strong internal controls and financial management policies

REPORTING RELATIONSHIPS

Position reports to: chief financial officer (CFO)

Position(s) supervised: treasury analyst, senior treasury analyst, treasury manager, assistant treasurer

Alternative titles: chief investment officer, group treasurer, global head of treasury, corporate financial analyst, vice president of corporate planning & treasurer, vice president of financial planning & treasury

QUALIFICATIONS

EDUCATION

• Bachelor’s degree in finance, accounting or business required
• MBA or advanced degree in finance required

RELEVANT CERTIFICATIONS

• CTP
• CPA

KNOWLEDGE REQUIRED

• Strong knowledge of financial instruments, credit facilities and treasury best practices
• Knowledge of general treasury, forecasting, budgeting and relaxed accounting
• Strong financial modelling is important
• Proficient with MS Office Suite including strong Excel skills

EXPERIENCE REQUIRED

Minimum of 10 years of experience in finance and global treasury operations with a track record of increased responsibilities

SKILLS / ABILITIES 

• Strong leadership skills and the ability to collaborate
• Detail, deadline and goal-oriented
• Ability to drive results in a fast-paced/deadline-oriented environment
• Strong analytical skills
• Problem-solving and organizational skills
• Strong verbal, written and interpersonal communication skills

ASSISTANT TREASURER

Responsible for managing a team, establishing and improving relationships. Designs and implements best practices in treasury processes to support the growth of the company. Key member of the Treasury and Finance team and is responsible for the development and implementation of treasury functions. Provides administrative and clerical support to treasurers.

PRIMARY FUNCTIONS AND ESSENTIAL RESPONSIBILITIES

• Plan and direct strategic activities including prioritizing and selecting appropriate projects with overall responsibility for meeting business objectives
• Analyze variances in treasury budget
• Help establish and maintain internal controls
• Monitor and establish company-wide treasury policies/internal controls
• Drive/support the initiatives to optimize banking infrastructure and cash management processes
• Collaborate with IT in establishing and maintaining treasury technology solutions including required interfaces, to support cash management activities
• Ensure the company establishes and maintains appropriate insurance policies to address property, casualty and legal liability risks related to its business
• Manage all domestic and global banking relationships
• Support key relationships including rating agencies, banking and financial institutions, company investors and senior management
• Maintain strong communications with banks and other financial service providers
• Prepare and present relevant reports to finance risk committee
• Develop a structure to work with business partners, shared services providers and FP&A to optimize working capital
• Develop performance monitoring of service providers including third-party managers, trustees and custodians
• Develop and deploy investor communication strategy working closely with executive management
• Manage cash management functions including cash flow forecasting and analysis, preparation of the daily cash report, daily borrowings and repayments
• Understand and research variances
• Oversee daily cash positioning activities including managing daily liquidity, cash position reconciliation and bank reporting
• Enhance and manage the regional and corporate direct cash flow forecasting process
• Manage foreign exchange and interest-rate risk
• Develop and lead hedging programs to mitigate risk from currency and interest-rate fluctuation
• Manage the share repurchase program
• Monitor quarterly and annual compliance with loan agreements
• Act as treasury owner of equipment leasing program
• Lead in identifying financial risk, developing complex mitigation strategies
• Lead the planning and execution of investment and borrowing strategies
• Oversee corporate debt facilities and ensure adherence to established treasury rules
• Maintain and monitor disbursement authorization and disbursement accounting procedures
• Monitor income accounting procedures

REPORTING RELATIONSHIPS

Position reports to: treasurer

Position(s) supervised: cash manager, financial analyst, director of treasury, treasury manager, senior treasury analyst

Alternative titles: FX manager, director of treasury & financial planning & analysis, director of budget & treasury, director of strategic planning & analysis

QUALIFICATIONS

EDUCATION

• Bachelor’s degree in accounting, business, management or finance required
• MBA or advanced degree in business, finance or management required

RELEVANT CERTIFICATIONS

• CTP
• CPA

KNOWLEDGE REQUIRED

• Proficient in MS Office Suite including advanced Excel and PowerPoint

• Strong knowledge of financial instruments, credit facilities and treasury best practices

• Knowledge of general treasury, forecasting, budgeting, and related accounting

• Strong financial modeling

EXPERIENCE REQUIRED

Minimum 10 years of experience in finance and global treasury operations with a track record of increased responsibilities

SKILLS / ABILITIES 

• Strong analytical skills and attention to detail
• Strong problem-solving and organizational skills
• Excellent verbal and written communication skills
• Ability to lead collaboratively
• Project management skills

DIRECTOR OF TREASURY

Responsible for the determination of cash requirements, cash concentration, short-term cash investments and maintenance of appropriate cash flow. Establishes short-term borrowing needs and recommends short-term investing initiatives. Directs and manages operations of the treasury function and prepares and analyzes department reports, financial accounting records, cash flow analysis, credit agreement compliance and projections.

PRIMARY FUNCTIONS AND ESSENTIAL RESPONSIBILITIES

• Responsible for the overall direction, coordination and evaluation of the treasury department
• Execute the development and implementation of treasury functions
• Support global expansion and establishment of new entities worldwide
• Develop, implement and maintain bank account structures
• Evaluate, develop and recommend fiscal policies
• Responsible for liquidity management of all entities
• Continually optimize company’s investment portfolio
• Develop and prepare cash forecast
• Manage all relationships with financial institutions supporting company’s cash management operations
• Manage treasury analysts by developing objectives and development plan in line with global strategy 
• Implement hedging programs for foreign exchange and interest-rate exposures
• Develop reporting package for executive team and the Board of Directors on company’s liquidity and key cash management operating metrics
• Lead and enhance internal processes to drive operational efficiency and to ensure compliance with internal policies, controls and procedures
• Develop and monitor treasury operational policies
• Oversee risk management and foreign currency and interest rate exposures
• Manage all cash management functions including cash concentration, wires and account funding
• Ensure adequate liquidity for working capital needs and invest short-term excess cash; manage inter-company cash including inter-company lending, dividends and capital injections
• Forecast worldwide interest expense and income
• Oversee cash management banking and financial institution relationships; negotiate bank and service fees
• Implement new bank technologies, products and services to improve the cash cycle and simplify company operations
• Prepare and present to senior management weekly company-wide cash flow report
• Facilitate the opening of new global banking relationships as needed
• Demonstrate leadership and training skills to further develop managers and analysts within the department

REPORTING RELATIONSHIPS

Position reports to: vice president of finance or treasury, CFO

Position(s) supervised: manager of treasury, treasury analyst

Alternative titles: international treasurer, deputy treasurer, director of investments

QUALIFICATIONS

EDUCATION

• Bachelor’s degree in accounting, business administration or finance required
• MBA or advanced degree in related field preferred

RELEVANT CERTIFICATIONS

• CTP
• CPA

KNOWLEDGE REQUIRED

• Advanced MS Excel skills
• Treasury knowledge
• Knowledge of accounting principles
• Advanced knowledge of GAAP accounting rules
• Systems skills
• Familiarity with SAP preferred

EXPERIENCE REQUIRED

• 8-10 years of experience in related field

SKILLS / ABILITIES 

• Troubleshooting and organizational skills
• Leadership skills
• Sharp attention to detail
• Analytical and financial analysis skills
• Excellent verbal and written communication

MANAGER, TREASURY

Responsible for the planning and execution of day-to-day and period-end Treasury activities including managing the company’s cash flow forecast, identifying cost-saving and profit maximizing opportunities and ensuring compliance with company, department and audit standards to maximize the protection of the company’s cash assets. Oversees the revenue of business. Partners with the Assistant Treasurer to create the vision, strategy and standards by which the Treasury department provides leadership and value to the organization. Manages all banking needs.

PRIMARY FUNCTIONS AND ESSENTIAL RESPONSIBILITIES

• Identify opportunities and implement treasury-related business process improvements including multi-lateral netting and cash pool structures via in-house banking
• Review, approve and release electronic disbursements
• Develop and support treasury policies, procedures and controls
• Support special projects and acquisitions as assigned
• Lead the treasury month-end close process including the review and accurate recording of weekly cash activity to the general ledger
• Supervise maintenance and update signatories on every global bank account
• Oversee the monthly reconciliation of all company bank accounts
• Review and approval of ACH and wire payments
• Daily cash positioning and reporting
• Track cash investment activities
• Troubleshoot daily transaction issues
• Prepare, review and maintain SOX compliance within the department; ensure proper controls exist over cash receipts, disbursements and general treasury activities
• Perform periodic cost review of bank and armored carrier fees
• Review and negotiate treasury contracts with banks and armored carriers
• Identify and recommend process improvements
• Oversee daily cash forecast and global cash position reporting
• Identify opportunities for and support global cash movements including documentation of intercompany loans
• Maintain strong bank relationships while managing global banking structure
• Leverage existing banking relationships to open, manage and maintain domestic and foreign bank accounts
• Monitor and oversee existing bank account services and signatories including bank account administration for opening, migrating and closing accounts
• Evaluate and recommend banking products, services and platforms as appropriate
• Serve as primary administrator on online banking platforms, FX-All and other treasury platforms
• Monitor FX exposures and develop recommendations to create natural currency hedges
• Assist with development, maintenance and operations of other hedging activities including exposure gathering
• Effectively work with and support internal business partners including AR, AP, legal, tax and IT
• Work with internal and external auditors
• Manage corporate card, ACH debits and credit card
• Develop, monitor and upgrade treasury department budget

REPORTING RELATIONSHIPS

Position reports to: CFO, vice president - treasury, treasurer, assistant treasury, director of treasury

Position(s) supervised: cash manager, assistant cash manager, cash management specialist, treasury analyst

Alternative titles: credit and collections manager, senior treasury analyst, manager of treasury planning & analysis, manager of treasury planning & capital markets

QUALIFICATIONS

EDUCATION

• Bachelor’s degree in accounting or finance required
• MBA preferred

RELEVANT CERTIFICATIONS

• CTP
• CPA
• Project Management Professional (PMP) certification

KNOWLEDGE REQUIRED

• Excellent communication skills in dealing with internal and external customers and business partners
• Strong analytical, financial and systems skills, including advanced spreadsheet and modeling skills
• Strong experience with bank reconciliations
• Knowledge of banking systems and experience with wire and ACH templates is a plus
• Self-motivation and attention to detail

EXPERIENCE REQUIRED

• 5+ years of accounting and/or treasury experience

SKILLS / ABILITIES 

• Strong organizational and decision-making skills
• Ability to meet deadlines
• Project management skills
• Ability to lead and manage
• Analytical skills

CASH MANAGER, TREASURY

Responsible for managing the entire cash management function including the development and management of systems for the effective collection of revenues and payment of obligations. Responsible for providing leadership and direction to ensure designated cash processing, reconciliation and reporting functions are completed in a timely manner. Oversees implementation of treasury department initiatives and process improvements. Ensures all actions are in compliance with state financial laws.

PRIMARY FUNCTIONS AND ESSENTIAL RESPONSIBILITIES

• Direct cash management operations to include daily cash administration, management of current accounts and bank relations
• Review and drive improvements in cash management, ensuring financial obligations are met in accordance with company policies and procedures
• Complete all cash management set-up documentation for new and existing department processes; prepare correspondence and proposals directed to and for cash management
• Manage currency exposure and risk, and optimize the use of capital
• Perform timely reconciliation of cash application and disbursements
• Prepare cash flow reports, identify and evaluate variances
• Monitor cash transactions to ensure bank account balances and unusual items are investigated
• Forecast, monitor and track cash flow (weekly, monthly, quarterly)
• Confer with bank personnel to effect fund transfers to and from the line-of-credit, money market and/or other company bank accounts as directed by the CFO and/or assistant controller
• Analyze and solve problems stemming from payment processes
• Review and approve all non-repetitive wire transfers; ensure transactions have appropriate documentation and authorization
• Review bank fees, merchant card fees and provide monthly or quarterly reporting
• Support internal audit, external audit and SOX controls and reporting
• Work with project managers, project controllers and sales department to accurately forecast timing and amount of future cash flows over the next two years
• Assist with project assignments and financial reporting
• Continually evaluate the effectiveness of operational procedures and controls to maximize departmental productivity and minimize errors made by staff
• Administer and maintain corporate credit card program
• Resolve any denials and/or fraud situations in an urgent manner
• Manage monthly statement and related expense report submissions
• Maintain a backup for all financial data
• Maintain integrity and accuracy in financial transactions and reports

REPORTING RELATIONSHIPS

Position reports to: assistant treasurer, manager of treasury, director of treasury, accounting manager

Position(s) supervised: assistant cash manager, senior cash accountants

Alternative titles: finance manager, senior treasury manager, domestic or global cash manager, director of cash management & bank relations, portfolio analyst

QUALIFICATIONS

EDUCATION

• Bachelor’s degree in finance or related field required
• MBA preferred 

KNOWLEDGE REQUIRED

• Strong understanding of banking systems, services and processes
• Working knowledge of MS Office Suite including Word, Excel, Outlook and PowerPoint

EXPERIENCE REQUIRED

• 5-8 years of experience in finance or accounting, with strong background in treasury

SKILLS / ABILITIES 

• Strong analytical and problem-solving skills
• Excellent oral and written communication skills
• Strong managerial skills
• Organizational and decision-making skills
• Ability to drive results in fast-paced environment

SENIOR TREASURY ANALYST

Facilitates daily treasury operations, provides accurate cash reporting and assists with bank structure management and some risk management activities. Produces reports to aid in the forecasting of cash needs for the business and assists with other treasury functions. Manage and analyze organization’s financial activity. Works cross functionally with the finance team to identify FX exposures and support the hedging program.

What is the main responsibility of a chief financial officer?

Is treasury manager the same role and responsibilities as chief financial officer?

What is the role of the local government chief finance officer?

What are the areas of authority and responsibility for a chief financial officer CFO )?