Treasurer How to Hire, Salary Data, and Job Descriptions
It is the responsibility of a treasurer to oversee and in some cases manage the long and short-term budgetary aspects of their business. A treasurer must be able to create successful budgets for their company, revise those budgets, and comply with any company policy and standards needed. Treasurers usually have experience with accounting, statistics of some kind, budgeting, and financial management. Depending on the size of a business, the treasurer may either be in charge of managing the finances directly, or the treasurer may be in charge of the team that does this in the case of larger-scale businesses.
As treasurer, candidates must showcase their analytical skills, as well as their ability to communicate properly with other team members. This job is extremely reliant on the ability to work well with others, so a good treasurer must be able to do this successfully. To hire a treasurer, a business must ensure that its candidates are properly certified and compliant with any monetary policy required at local or national levels of the state.
Sample job description #1
The Treasurer will be responsible for banking relationship management, corporate liquidity, investments, and risk management related to the company’s financial activities, including cash flow forecasting, business analysis, and financial reporting.
Responsibilities include but are not limited to: providing senior management with insight and reporting as it pertains to the Company’s cash position, liquidity, and information about the Company’s overall business activities and the implication on overall cash management.
This role will report to the Controller and will also liaison with the corporate financial staff as required. Provide leadership and guidance supporting the overall business philosophy and principles.
Responsibilities of the treasurer include, but are not limited to:
Oversee activities regarding cash flow management and forecasting
Forecast cash flow positions, related borrowing needs, and available funds for investment
Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements
Maintain banking relationships
Monitor the activities of third parties handling outsourced treasury functions on behalf of the company
Advise management on the liquidity aspects of its short and long-range planning
Maintain a system of policies and procedures that impose an adequate level of control over treasury activities
Work with management to develop and improve strategies and increase net profit by performing effective treasury management
Prepares frequent reports on corporation’s cash position
Forecasts short-range and long-range cash requirements and obligations
Assumes other special projects and responsibilities as required
Working Capital manager and cash management teams
Develops an adequate plan for backup and succession of management and other key personnel as it pertains to treasury and working capital
Monitors performance of direct reports. Provides prompt and objective coaching and counseling
Acts within scope of authority and consistent with company and corporate objectives, guidelines, policies, and practices
Qualifications of the treasurer include:
3+ years of progressively responsible treasury experience for a major company
Should have a thorough understanding of investments, bank account management, and international funds flows
Bachelor’s Degree in Finance or Accounting is required
Minimum (2) years of relevant experience
Strong knowledge of U.S. banking practices and cash management systems
Strong knowledge of US GAAP required
Knowledge of enterprise risk management best practices preferred
Ability to communicate complex financial issues in simple, understandable terms
Financial analysis skills and demonstrated ability to manage computer operations and applications
Strong knowledge of accounting processes and internal controls, preferably, with experience in a banking environment
Must possess strong analytical and critical thinking skills and be detail-oriented
Strong interpersonal skills
Computer proficiency required
Sample job description #2
The Treasurer position is a critical role for ABC Company and is one of the most impactful and high-profile roles within the bank. This leader is the key individual on point to manage and optimize the company’s $177B balance sheet, formulating strategies to protect against risks and capture opportunities, including capital management, interest rate risk management, liquidity management, and regulatory and internal process adherence. In addition, this person is a key leader within the Finance organization and the overall enterprise. This person oversees a high performing Treasury team with over fifty professionals and five direct reports. This person is also a member of the Finance & Strategy Leadership Team and provides leadership to many function-wide colleague initiatives. The Treasurer is charged with significant communications responsibilities both within the company with executive management and key business leaders, as well as externally with important regulatory, rating agency, and other market contacts.
Functions as the top treasury official for the corporation
Has overall responsibility for capital planning, stress testing, strategy, and policy
Directs the corporation’s liquidity management processes including Internal Liquidity Stress Testing, HoldCo cash flow forecasting, 2052a regulatory reporting, debt issuance, overnight funding, and period liquidity reporting to the Board of Directors
Responsible for assessment, implementation, and management of the securities portfolio
Responsible for Asset Liability management functions, including modeling of interest rate risk and economic value of equity, and recommending strategies to maintain firms risk position within corporation’s risk tolerance
Manages hedge portfolio to facilitate execution of interest rate risk and capital protection strategies
Monitors the markets for opportunities to minimize interest rate risk obtain best execution on wholesale funding and hedging strategies
Provides timely and meaningful consultation to the executive management and the Board of Directors
Serves as a key resource in responding to questions and information requests both internally and externally
Guides financial decisions by establishing, monitoring, and enforcing policies and procedures
Ensures treasury practices are in compliance with all applicable state and federal regulations, as well as with ABC Company’s internal policies, procedures, and control systems
Bachelor’s Degree in Finance or Economics
10+ years experience in a bank treasury function, 15+ years experience in finance role in financial services industry
10 years proven managerial/leadership experience
Master’s Degree or MBA
Understanding of bank or financial sector key performance metrics/financials
Deep understanding of economics, financial markets, and competitive landscape
Strong communication skills with the ability to communicate complex financial scenarios and tradeoffs
Collaborative team building skills
Executive presence and ability to communicate with Board of Directors and executive committees
Experience working with multiple regulators in a dynamic regulatory environment
Sample job description #3
ABC Company’s Treasurer is responsible for leading the overall capital structuring, cash management, stock repurchase program, and global insurance programs, including the Captive Insurance structure/program, for the company. The role is also responsible for developing the strategy, policies, processes, and controls for all treasury functions, including, all financing and capital structuring, banking relationships, foreign exchange management, including hedging programs, and risk management programs. Today, the role has two direct reports, including a Treasury manager, and a manager/director of risk management and insurance. This role regularly presents to the Executive Leadership Team and the Board of Directors.
Responsible for supervising all activities related to effective cash management of cash, control of funds (including movement from the subs to corporate), and short-term borrowings and investments for operations worldwide
Implement new or existing cash management services to maximize treasury efficiencies, including evaluating systems to improve efficiencies
Assist the tax department and Business Unit finance leaders to maximize liquidity and cash generation
Capital Allocation Strategy
Recommend strategy for execution and management of debt structuring, including for all acquisitions opportunities
Maintain and drive all banking relationships, including external communication with pertinent financial institutions, including sourcing, and negotiating new financing arrangements
Negotiate with bank representatives, bank counsel, and underwriters, as well as maintain those relationships
Maintain a financial flexibility tax optimized capital structure that ensures continuous improvement of the balance sheet and cash flows with primary responsibility for optimizing the company’s cost of capital, minimizing risk, and maximizing returns
Monitor conditions to ensure the compliance with financial covenants; and monitor overall cost of capital trends and outlook
Primary liaison with rating agencies
Foreign Exchange Management
Implement and maintain a centralized FX hedging strategy that involves enhancing existing policies and establishing additional guidelines
Make recommendations/develop strategy on how to best mitigate both local and global FX exposure versus commitments in the current calendar year and potentially longer term
Develop and recommend effective interest rate risk management hedging strategies as appropriate
Risk Management & Insurance
Manage the company’s portfolio of global insurance policies for the core property and casualty insurance coverages, including managing the professional, and financial insurance coverages
In partnership with the risk management committee, evaluate and manage global business risks, and plan mitigation strategies
Participates with other senior managers to establish strategic business plans and objectives. Makes final decision on administrative or operational matters for areas under management and ensures operation’s effective achievement of objectives
Regularly interacts with Senior Management, Board of Directors, and external vendors. Interactions frequently involve special skills, such as negotiating with external vendors or management or influencing senior level leaders regarding matters of significance to the organization
Directs and controls the activities of the Treasury Department. Has overall control of planning, staffing, budgeting, managing expense priorities, and recommending and implementing changes to methods
Hire and develop a strong team to support the company’s objectives and strategy
Required experience, education, skills and competencies
Bachelor’s Degree in Business Administration
Minimum of 10 years of experience in Treasury Functions
Experience with Capital Markets, particularly capital structuring and strategies
Experience with foreign Exchange and intercompany cash management and structuring
Acquisition experience, particularly acquisition financing and integration
Previous experience in a public company
Excellent verbal and written communication skills
Detail oriented and organized with strong focus on data accuracy
Ability to meet tight deadlines and handle multiple tasks/projects
Demonstrated intellectual curiosity and strong problem-solving skills (agility); able to elicit and comprehend quantitative and qualitative information
Self-starter with the demonstrated ability to work in a fast-paced atmosphere with minimal supervision
Demonstrated Leader, both within the function and company-wide
Certified Treasury Professional (CTP) or Chartered Financial Analyst (CFA) designation is ideal
Occasional travel is required to ABC Company global locations
Less than 20%
Ability to demonstrate proof of up to date Covid-19 vaccination status per current CDC guidelines (full vaccination dose and booster, if eligible) prior to employment start day
Average salary and compensation
The average salary for a treasurer is $205,000 per year in the United States. Salary may vary greatly due to level of experience, education, and geographical location.
Los Angeles, California
Minneapolis-St. Paul, Minnesota
New York City, New York
Sample interview questions
What qualities do you have that make you well suited for this job?
Why did you choose a career as a treasurer?
What are your long term career goals in finance?
How would you prioritize your work to meet budget deadlines?
How do you ensure to avoid costly accounting errors?
What important points do you look into when preparing a budget?
What software are you familiar with?
What’s your experience with fund investments?
What kind of technology tools/software are you familiar with?
Please outline your experience with risk management.
Do you have experience with forecasting?
Tell me about a policy you designed or implemented. What was the result?
What are the keys to being a successful treasurer?
Describe a time you or your team failed to meet a deadline/goal. What did you learn?
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