Articles

Treasury Job Descriptions

By AFP Staff
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. And it’s not just in the U.S. According to Bloomberg, the Asian financial hub is set to grow by about 4,000 jobs each year for the next four years.

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
Assistant Treasurer
Director of Treasury
Manager, Treasury
Cash Manager, Treasury
Senior Treasury Analyst
Treasury Analyst

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

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

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

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. Works cross functionally with the finance team to identify FX exposures and support the hedging program.

PRIMARY FUNCTIONS AND ESSENTIAL RESPONSIBILITIES

Monitor and analyze the company’s daily cash position to cover cash commitments and coordinate and optimize the short-term borrowing or investments, or assist in the execution of the daily cash management duties
Pool cash from all secondary bank accounts when necessary
Administer the ACH program
Lead and assist with treasury projects and initiatives
Adhere to month-end cut-off schedules by cash department personnel for reconciliations of all cash-related accounts, all month-end processes, and all related journal entries
Assist in executing standby letters of credit, export letters of credit, performance bonds and similar instruments
Prepare daily, weekly and monthly reports on the global cash position
Assist with the company’s hedging program
Perform balance sheet substantiation and commentaries at month-end
Perform data integrity and balance sheet verification
Assist with risk management by identifying/recommending strategies to minimize foreign currency, interest rate and commodity exposures
Assist with short- and long-term intercompany settlements and transactions
Provide information in connection with the external and internal audits and monitors cash management activities to ensure compliance
Approve foreign exchange, wire transactions, and facilitate other credit line transactions
Support FX front office processes including loading FX trades and rates, maintaining settlement instructions and updating FX mandates with counterparty banks
Assist with implementation of a FX exposure management tool
Develop, monitor and analyze bank fees including credit card and cash management expenses
Maintain positive banking relationships with depository banks
Assist in maintaining banking records and legal documentation including SOX- and FBAR-related documentation
Work with treasury management to maintain and rationalize the company’s choice of key global banks including the analysis of bank fee structures, services, relationships, credit levels and counterparty credit quality/exposure
Assist other departments (e.g., audit, accounting) with quarter-end and ad-hoc information requests as needed
Act as a treasury liaison with the company’s business units in setting up new banking accounts, services, and handling bank inquiries and related matters
Work with company’s business units to prepare weekly cash forecasts and other cash and borrowing projection models; coordinate with teams to identify and mitigate forecasting variances
Support corporate accounting, corporate tax, financial planning, internal audit and other functions as they relate to treasury transactions and entity structures
Work with FP&A on developing operating cash flow forecasts, enhance visibility into global cash balances, optimize working capital and establish metrics/KPIs
Recommend and implement solutions to strengthen operational controls and incorporate best practices.
Assist with presentation material for investors, rating agencies or the Board of Directors, as needed

REPORTING RELATIONSHIPS

Position reports to: treasury manager, treasury director, assistant treasurer or treasurer

Position(s) supervised: n/a

Alternative titles: treasury & financial analyst, analyst cash/treasury, treasury/risk analyst, capital budget analyst, cash & banking analyst

QUALIFICATIONS

EDUCATION

Bachelor’s degree in finance, accounting, economics or related field required
MBA preferred

RELEVANT CERTIFICATIONS

KNOWLEDGE REQUIRED

Ability to quickly understand complex transactions
Knowledge of the banking industry and technical knowledge of bank products and FX
Ability to apply finance and treasury principles
Strong Excel skills

EXPERIENCE REQUIRED

2-5 years of corporate treasury experience

SKILLS / ABILITIES

Ability to multi-task in fast-paced environment
Strong analytical skills
Effective planning and priority setting abilities
Must be well-organized and detail-oriented
Ability to work independently and collaboratively
Good communication skills, written and verbal

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.

PRIMARY FUNCTIONS AND ESSENTIAL RESPONSIBILITIES

Monitor and analyze the company’s daily cash position to cover cash commitments and coordinate/optimize the short-term borrowing or investments, or assist in the execution of the daily cash management duties
Manage cash flow, income, liability obligations and assets
Pool cash from all secondary bank accounts when necessary
Administer the ACH program
Adhere to month-end cut-off schedules by cash department personnel for reconciliations of all cash-related accounts, all month-end processes, and all related journal entries
Assist in executing standby letters of credit, export letters of credit, performance bonds and similar instruments
Prepare daily, weekly and monthly reports on the global cash position
Assist with the company’s hedging program
Assist with risk management by identifying/recommending strategies to minimize foreign currency, interest rate and commodity exposures
Assist with short- and long-term intercompany settlements and transactions
Provide information in connection with the external and internal audits and monitor cash management activities to ensure compliance
Approve foreign exchange, wire transactions, and facilitate other credit line transactions
Support FX front-office processes including loading FX trades and rates, maintaining settlement instructions and updating FX mandates with counterparty banks
Assist with implementation of an FX exposure management tool
Develop, monitor and analyze bank fees including credit card and cash management expenses
Maintain positive banking relationships with depository banks
Assist in maintaining banking records and legal documentation including SOX- and FBAR-related documentation
Work with treasury management to maintain and rationalize the company’s choice of key global banks including the analysis of bank fee structures, services, relationships, credit levels and counterparty credit quality/exposure
Assist other departments (e.g., audit, accounting) with quarter-end and ad-hoc information requests as needed
Act as a treasury liaison with the company’s business units in setting up new banking accounts, services, and handling bank inquiries and related matters
Work with company’s business units to prepare weekly cash forecasts and other cash and borrowing projection models; coordinates with teams to identify and mitigate forecasting variances
Support corporate accounting, corporate tax, financial planning, internal audit and other functions as they relate to Treasury transactions and entity structures
Work with FP&A on developing operating cash flow forecasts, enhance visibility into global cash balances, optimize working capital and establish metrics/key performance indicators
Recommend and implement solutions to strengthen operational controls and incorporate best practices.
Assist with presentation material for investors, rating agencies or the Board of Directors, as needed

REPORTING RELATIONSHIPS

Position reports to: treasury manager, assistant treasurer or treasurer

Position(s) supervised: n/a

Alternative titles: treasury & financial analyst, analyst cash/treasury, treasury/risk analyst,

capital budget analyst, cash & banking analyst

QUALIFICATIONS

EDUCATION

Bachelor’s degree in finance, accounting, economics or related field required
MBA preferred

RELEVANT CERTIFICATIONS

KNOWLEDGE REQUIRED

Ability to quickly understand complex transactions
Knowledge of the banking industry and technical knowledge of bank products and foreign exchange
Ability to apply finance and treasury principles
Strong Excel skills
Proficiency in accounting

EXPERIENCE REQUIRED

2-5 years of corporate treasury experience

SKILLS / ABILITIES

Ability to multi-task in a fast-paced environment
Effective at planning and priority setting
Must be well-organized and detail-oriented
Ability to work collaboratively
Good communication and interpersonal skills
Good critical thinking and analytical skills