What Does a Treasury Manager Do?
A treasury manager is responsible for managing the financial and monetary aspects of a business, which includes cash flow, liquidity, funding, and relationships with financial institutions. They must understand financial markets, the economics of the business, and the associated financial risks. They must also be able to develop and maintain healthy and productive relationships with banks and other funding sources to secure the most favorable terms for the business. Additionally, they may be involved in capital planning, debt management, and creating strategies to optimize a company’s spending and budgeting.
Successful treasury managers are analytical thinkers, adept at quickly and accurately calculating numbers, and familiar with spreadsheets. A solid understanding of accounting rules and government policy is needed as they are likely to work regularly with accounting software and similar programs.
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National Average Salary
Treasury manager salaries vary by experience, industry, organization size, and geography. To explore salary ranges by local market, please visit our sister site zengig.com.
The average U.S. salary for a Treasury Manager is:
Treasury Manager Job Descriptions
Crafting the perfect job description may be the key to finding an exceptional treasury manager. To help you with your recruiting search, our team has put together some examples from past openings.
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.
- MBA, CFA, or CTF
- 5+ years experience as a treasury manager
Currently seeking a Treasury Manager who will lead the relationships with the companies banks/lenders, implement and manage cash forecasting models, ensure sufficient funds are available to meet ongoing operational requirements, secure financial operations by monitoring and approving financial processing, manage numerous impress and trust accounts, and support key controls.
Responsibilities for the treasury manager
- Maintain banking relationships and identify opportunities to better utilize the organization’s bank services
- Monitoring the cash management process and determine accuracy of cash reporting
- Track and report on operating/capital leases, credit line usage, and letters of credit
- Maintain cash flow by managing cash forecasting models and monitoring bank balances and cash requirements
- Approve ledger entries by auditing transactions
- Support annual audits by providing information and responses to auditors
- Manage and accurately complete periodic bank exams and appraisals
- Ensure compliance with weekly and monthly collateral reporting
- Completion of all activities in StuckyNet, daily, weekly, and monthly
- Ensure compliance with bank credit agreement(s)
Requirements for the treasury manager
- A high school diploma or GED is required
- Bachelor’s Degree in Accounting, Business Administration, Economics, Finance, or related discipline; in the absence of a degree, directly related job experience serving in a treasury role, where a number of years and proven knowledge may offset the degree requirement
- Minimum of at least 2 years of progressively responsible treasury management experience
- Manufacturing/product-based industry experience preferred
- ERPR experience, NetSuite preferred
- Strong financial acumen and knowledge of financial processes
- Ability to work collaboratively across departmental functions
- Strong analytical, conceptual, and planning skills are required
- Ability to communicate effectively at all levels of the organization
- Ability to work under pressure and show evidence of creative thinking as well as the ability to handle complex problems in a timely manner
- Proficient in Microsoft Office Suite
- Excellent written and verbal communication skills
Purpose of the job
The Treasury Manager is integral to the strategy, execution, and reporting of cash flow, debt, and hedging of the Global business. The Treasury Manager is also critical in day-to-day Treasury operations. This position reports to the Treasurer and works closely with all Finance functions (Accounting, AP, AR, Tax, Payroll, FP&A, International Finance Staffs), other internal constituents (such as Procurement, Legal, Operations, IT), and external parties (particularly banking partners).
- Manage and enhance the rolling 13-week cash flow forecast process
- Manage foreign exchange, commodity, and interest rate risk management programs. Includes analyzing exposures, recommending hedge positions, placing trades and/or confirming the terms and conditions with counterparties, and reporting
- Manage Intercompany transactions and borrowing processes, reporting, and documentation
- Perform Treasury Operations activities including:
- Process transactions
- Administer banking and other Treasury systems
- Manage bank related documentation
- Prepare month-end reporting
- Investigate and resolve bank and payment issues
- Recommend and support the execution of financing and working capital improvement plans
- Partner with various teams to optimize the global banking and cash management structure and processes
- Prepare presentations for executives, lenders, rating agencies, etc.
- Support M&A, Capital Investment, and other corporate initiatives
- Support special projects and other duties as assigned
- Bachelor’s degree in Finance or Accounting or equivalent required, MBA preferred
- 5+ years of experience in Corporate Treasury, preferably at a multinational company
- Designation as a Certified Treasury Professional (CTP) desirable
- Excellent communication and presentation skills
- Strong analytical skills with advanced spreadsheet and financial modeling capabilities
- Controls and process mindset with an attention to detail and accuracy
- Eagerness to learn and continuously improve processes
- Project management experience
The Treasury Manager is responsible for ensuring an appropriate management of company’s financial resources, optimizing return and following the guidelines defined by the Board of Directors. The holder of this job reports directly to the Director of Financial Planning & Investor Relations. The position requires excellent communication and interpersonal skills. It also requires the ability to manage relationships outside the company.
- Ensure the company meets its cash needs, including projects and subsidiaries, tracking cash flows of all LLCs, defining guidelines, and procedures along with other departments that demand any type of payments, and negotiating limits, products, and services with banks and lenders
- Maximize returns on the company’s cash balance, defining policies for the opening of new bank accounts, consolidating resources, guaranteeing minimum liquidity and best allocation of available cash accordingly to the company’s investment policy
- Ensure security of financial transactions, defining policies, procedures and controls and validating corporate documents that grant power to the approvers
- Ensure an adequate and reliable report of the company’s financial information regarding cash balance and capital management and compliance with guidelines
- Support Cash Flow analysis, cash generation, and liquidity calculation
- Monitor credit and financial markets, tracking rates on new transactions and supporting funding decisions
- Develop a strong relationship with banks, lenders, and JV partners and ensure financial contracts are up-to-date and all financial obligations are met
- Bachelor’s degree in business management administration, economy, finance, accounting or a related field
- Minimum of 1-year experience in a leadership position in Treasury
- An equivalent combination of education and experience that provides the required knowledge, skills, and abilities may be acceptable
Knowledge and skills
- Deep knowledge and understanding of cash management
- Advanced knowledge of financial principles and statements
- Intimately familiar with investments, funds, and financial transactions
- A good understanding of derivatives and financial KPIs
- A professional who is also entrepreneurial and analytical
- Ability to lead team members; managerial skills
- Must be able to perform in a high-pressure environment, and be able to meet tight deadlines
- Very good communication skills
Candidate Certifications to Look For
- CTP. The Certified Treasury Professional demonstrates a candidate’s ability to hold a position in financial leadership with confidence. They’ll be taught a comprehensive understanding and knowledge of corporate treasury management. Candidates need to renew this certification every three years, and they’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 candidate, capable of making ethical and professional decisions as they relate to the accounting world. Becoming a CPA is an excellent first step in a candidate’s 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 a candidate’s 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 candidates seeking to move to advanced and senior positions within companies. They’ll be tested on the specific measurements of financial and accounting management skills. Candidates will need to renew this certification yearly, but it’s well worth it to bolster their resume should they 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. Candidates will be taught the core fundamentals of business and propel them further in their careers. MBAs can be obtained at many accredited colleges and universities and can create an incredibly valuable return for the time and cost invested.
How to Hire a Treasury Manager
There are a number of important initial considerations when hiring a treasury manager:
- Recruiting: Do you have the knowledge, tools, and resources to attract and screen candidates?
- Complexity: Do you need a senior professional, or will mid or junior-level skills and experience suffice?
- Duration: Are you hiring for a project or an ongoing need?
- Urgency: How soon does the opening need to be filled? What happens while it remains open?
- Headcount: Do you have the budget and approval for an internal employee, or should you consider alternate options?
Answering these questions will help determine the best course of action for your current hiring need. Fortunately, great options exist for every scenario. These are our recommendations:
1. Use 4 Corner Resources (or another professional recruiting firm)
The heavy lifting is done for you when working with a top-tier staffing company like 4 Corner Resources. We source, screen, recruit, and deliver only the most qualified candidate(s), saving you significant time and effort throughout the hiring process while you remain focused on your core business. Understanding your needs and ensuring the right candidate for the position is the key to our success.
This is the best route to take when:
- You need to fill the position quickly
- You want access to a vast talent pool of high-quality, prescreened candidates
- Your position is suited for temporary hiring services, contract staffing, or contract-to-hire recruiting, and you intend to direct the work activity.
- You are hiring an employee as a direct placement but aren’t able to recruit effectively or efficiently with your internal staff.
- You aren’t familiar with current salary rates, market trends, and available skill sets
2. Advertise your opening on a top job board
Your best option may be to advertise your opening on a proven job board. There are many widely used job sites out there that draw visits from qualified candidates. If you have someone internally who can dedicate the time and energy to sort through applications and screen individuals effectively, this can be a great choice.
We recommend using a job board when:
- Your internal recruiting team has the knowledge and experience to assess candidate qualifications
- You are hiring a direct employee and have time to manage the entire recruiting effort
- You have a process for receiving, screening, and tracking all resumes and applications
- You are prepared to respond to all applicants
We recommend CareerBuilder when hiring a treasury manager:
CareerBuilder has been a trusted source for hiring since 1995. Reach 80+ million unique, diverse U.S. job seekers annually by posting your jobs through their talent acquisition channels. Through CareerBuilder, you can engage candidates and drive them into your sourcing pipeline. We recommend using CareerBuilder for hiring when you have the internal resources and processes to review, screen, and reply to all applicants.
3. Leverage your professional network
You can utilize your own website, social media, and employees to assist in your search for top candidates.
A company website posting should be the first step in notifying prospective candidates that you are hiring. Social media can also be a powerful tool for spreading the word about your new opening. As far as exposure is concerned, this option can be as good as some job boards when you have a large enough following across various platforms, like LinkedIn, Instagram, Facebook, TikTok, and Twitter.
Current employees are every organization’s greatest asset. Encourage your internal team to promote job openings to their network by offering cash and other incentives.
We recommend these options when:
- Your brand has great name recognition
- You can consistently monitor and respond to candidate activity through your website and social media accounts
- You have a process in place to quickly and broadly communicate job openings and requirements
- You have an effective employee referral program in place
If you aren’t sure which path is best, schedule a discovery call today with our seasoned recruiting professionals. The 4 Corner team is on standby to help you find the best option for your unique hiring need.
Sample Interview Questions
- Describe your experience with cash management, budgeting, and forecasting.
- What methods do you use to mitigate financial risks?
- Describe a time when you had to make a significant financial decision.
- Tell me about your experience with hedging.
- Please outline your experience with risk management.
- Describe your experience negotiating financing agreements.
- What resources do you use to follow trends in accounting and finance?
- What steps do you take to minimize errors in your work?
- Have you had to deal with a financial crisis? Please describe the experience and how you managed it.
- What are some ways you’ve secured capital investments?
- Tell me about a financial 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?
- What do you think are some of the major challenges the accounting industry faces?