A treasury manager is responsible for managing the financial aspects of your business. These managers are usually responsible for keeping track of financial flow, as well as creating and implementing strategies to optimize the company spending and budgeting. A treasury manager is a “hands-on” treasurer, and because of this, will work closely with the company’s finances, making noticeable changes to the monetary systems. A treasury manager will monitor expenses and income of different departments, perform audits and checks on the different branches and employees, and other common financial management tasks.
Treasury managers most benefit from having an analytical mind, as well as from being able to quickly and accurately compute numbers and employ spreadsheets or other similar programs. As a treasury manager, employees will most likely be working closely with accounting software or similar programs as well. Because of this, treasury managers must have a fantastic knowledge of accounting and government policy.
Sample job description
As the market-leading provider of investment capital, services, and financial solutions, we strive to help customers maximize their returns and liquidity. Our success comes from a consistent belief that rolling up your sleeves and doing the tough work will transform organizations and the world. We believe solving complex problems and implementing plans are the key to this success, and our clients choose us for that same reason. As a financial institution, we insist on the absolute best to manage our finances. That’s why we’re currently looking for a treasury manager whose excellence at relationship building is world class. We’re searching for a candidate to guide the financial future of our company and lead us into new territory, building lasting relationships along the way..
Typical duties and responsibilities
- Oversee and lead our team of finance professionals responsible for treasury operations on the global scale
- Manage operations and liquidity management strategies
- Drive strategic initiatives
- Maintain and build strong relationships with banks
- Develop and execute bank strategies
- Serve as the company’s leading spokesperson for all departments, partners, and stakeholders
- Design and implement solutions and recommend plans and technology for optimization purposes
- Provide technical and financial expertise
- Create scalable workflows and implement company-wide treasury processes
- Manage offshore resources, activities, and relationships and discover and initiate potential new relationships
Education and experience
- 10+ years treasury leadership experience
- Masters degree in finance, accounting, or related field
Required skills and qualifications
- Excellent people skills
- Excellent communication skills both verbal and written
- Experience in a public company with regulatory experience
- Ambitious and self-starting
- Outstanding multi-tasking skills
- Ability to prioritize and manage time
- Excellent attention to detail
- Ability to work under pressure
- Demonstrated ability to create solutions in the financial environment
- Strong sense of urgency
- Proficient with the Microsoft suite: Word, Excel, Outlook, and Powerpoint.
Preferred qualifications
- MBA, CFA, or CTF
- 5+ years experience as a treasury manager
Average salary and compensation
The average salary for a treasury manager is $109,500 per year in the United States, with a potential for cash bonuses per year. Salary may depend on the level of experience, education, and geographical location.
| Location | Salary Low | Salary High |
|---|---|---|
| Phoenix, Arizona | $108,900 | $147,350 |
| Los Angeles, California | $122,850 | $166,200 |
| Denver, Colorado | $102,400 | $138,500 |
| Washington, DC | $124,700 | $168,750 |
| Miami, Florida | $101,900 | $137,900 |
| Orlando, Florida | $94,000 | $127,200 |
| Tampa, Florida | $94,950 | $128,450 |
| Atlanta, Georgia | $99,600 | $134,750 |
| Chicago, Illinois | $114,500 | $154,900 |
| Boston, Massachusetts | $123,800 | $167,500 |
| Minneapolis-St. Paul, Minnesota | $98,650 | $133,500 |
| New York City, New York | $130,300 | $176,300 |
| Philadelphia, Pennsylvania | $106,100 | $143,550 |
| Dallas, Texas | $103,300 | $139,800 |
| Houston, Texas | $102,400 | $138,500 |
| Seattle, Washington | $119,150 | $161,200 |
| National Average | $93,100 | $125,950 |
Typical work environment
Treasury managers work in an office environment. You’ll spend most of your time on the computer and in meetings. This position requires a large amount of interaction with several other parties, be they employees, other department heads, business partners, bank representatives, and stakeholders. This can be anything from a local office or conference room, to traveling around the globe to meet partners.
There may be an expectation for significant travel or an entirely remote position as well, as it’s company preference. Aside from being expected to present and speak at meetings, your office area will be the typical working environment.
Typical hours
The typical work hours for a treasury manager in an office setting are 9 AM to 5 PM, Monday through Friday. Some treasury managers end up working beyond the standard 40 hour work week.
Available certifications
As treasury managers work in a variety of industries, there are many institutions that offer certifications, including:
- CTP. The Certified Treasury Professional demonstrates the holders ability to hold a position in financial leadership with confidence. You’ll be taught a comprehensive understanding and knowledge of corporate treasury management. You’ll need to renew this certification every three years, and you’ll need a few years of education and work experience in order to qualify.
- CPA. The Certified Public Accountant must pass a national exam showing their eligibility to be licensed in any state of their choosing. This certification will show the holder to be an upstanding person, capable of making ethical and professional decisions as they relate to the accounting world. Becoming a CPA is an excellent first step in your journey into any financial position.
- CFA. The Chartered Financial Analyst is known as the definitive standard by which to measure the integrity and competence of serious investment professionals. This will go a long way in demonstrating your ability to critically think about any problems and solutions as they relate to the financial world.
- CMA. The Certified Management Accountant is a high level certification that should be obtained by those seeking to move to advanced and senior positions within companies. You’ll be tested on the specific measurements of financial and accounting management skills. You will need to renew this certification yearly, but it’s well worth it to bolster your resume should you be reaching for a high level management position within finance.
- CMBA. The Certified Master of Business Administration is a post-graduate certification that is highly valued in the business and finance world. You’ll be taught the core fundamentals of business and propel you further in your career. MBAs can be obtained at many accredited colleges and universities, and can create an incredibly valuable return for the time and cost invested.
Career path
The journey to becoming a treasury manager begins by earning a bachelor’s degree in accounting, finance, or related field. Obtaining a degree will show you’ve learned the basics of business and are up to date on best practices within finance. On top of this, you’ll be more competitive than those without.
Obtaining a position within finance and budgeting, and preferably a treasury position, will begin to accumulate the experience you’ll need to move into more senior positions down the line. You’ll learn how the job works and can find opportunities for leadership experience.
Obtaining further qualifications, taking on projects, and having seniority are all excellent steps to moving to a position of management within a company.
US, Bureau of Labor Statistics’ job outlook
SOC Code: 11-3031
| 2020 Employment | 681,700 |
| Projected Employment in 2030 | 799,900 |
| Projected 2020-2030 Percentage Shift | 17% increase |
| Projected 2020-2030 Numeric Shift | 118,200 increase |
Position trends
There’s little more important to companies than their continued existence, and their bottom line. For every company that wants to turn a profit, they need an expert to help manage the budget, balance the books, and make sense of the financial future. There needs to be someone who can be the face of the company when it comes to building and maintaining relationships with banks and business partners. And finally, there needs to be someone who can manage the internal financial staff to keep them working optimally.
For these reasons, you’ll be hard-pressed to see a decline in this position anytime in the near future. In fact, you’ll be seeing a slight increase in the projected amount as more companies come into existence and grow globally.
Sample interview questions
- Do you have experience with fund investments?
- What types of accounting software do you have experience using?
- Do you have any experience managing a budget?
- Tell me about your experience with hedging.
- Please outline your experience with risk management.
- What’s your greatest career achievement?
- What resources do you use to follow trends in accounting and finance?
- What is the most important thing you’ve learned about this activity so far?
- What steps do you take to minimize errors in your work?
- What are some ways you’ve secured capital investments?
- Do you have experience with forecasting?
- Tell me about a policy you designed and/or implemented. What was it, and what was the result?
- How would you communicate complex financial information and ensure it is understood?
- Are you comfortable making impactful decisions?
- What do you think are some of the major challenges the accounting industry faces?
