WHAT DOES AN ASSISTANT TREASURER DO?
The Assistant Treasurer oversees group cash flow forecasting and partners with various business units to enhance operational efficiency in cash management. This role involves managing banking relationships, ensuring compliance, and actively participating in the development and review of financial models and treasury processes. Producing detailed analytical reports and engaging in strategic project work also form key aspects of this position, aimed at optimizing treasury operations and supporting informed decision-making across the organization.
A Review of Professional Skills and Functions for Assistant Treasurer
1. Board Assistant Treasurer Duties
- Public Relations: Assist the Treasurer and CFO and serve as a public face of TCI for all outreach and advocacy programs.
- Meeting Participation: Attend board meetings and committee meetings.
- Committee Involvement: Serve on at least one committee and offer to take on special assignments.
- Fundraising: Participate in fundraising activities and special events.
- Ethics Compliance: Adhere strictly to conflict of interest policies.
- Financial Reporting: Prepare month-end ABL entries.
- Payment Processing: Enter and approve all manual payments, i.e., wires, EFTs, and bank drafts.
- Relationship Management: Maintain positive professional relationships with banks and financial institutions.
- Compliance Assistance: Participate in the preparation of banking compliance documents.
- Financial Reconciliation: Report all cash transactions and contribute to accounting bank reconciliations.
2. Assistant Treasurer Details
- Treasury Operations: Lead all global Treasury operational functions, including cash management, banking operations, and daily liquidity management.
- Technology Innovation: Lead initiatives for the identification and implementation of state-of-the-art technology to improve efficiency and leverage resources.
- Cash Management: Lead cash forecasting and modeling projects in support of strategic initiatives outlined by the CFO.
- Banking Analysis: Analyze banking structure and lead the effort to negotiate lower fees and better service.
- Contract Negotiation: Administer and be part of the team negotiating agreements with banks regarding debt, transaction processing, and financial derivatives.
- Risk Management: Manage and administer insurance and risk management program, including providing support to field personnel.
- Policy Development: Draft new and enhance existing treasury policies and procedures to maintain the required global control structure.
- Compliance Management: Assume responsibility for managing all compliance activities for major financial agreements.
- Banking Relations: Negotiate the availability of banking products/credit lines required to support current operations.
- Process Improvement: Manage special projects related to process improvements for the Treasury group.
- Project Leadership: Lead special projects and ad hoc analysis.
3. Assistant Treasurer Responsibilities
- Project Coordination: Assist the SVP and EPMO with the coordination of bank-wide projects for various departments.
- Stakeholder Engagement: Follow up on activities with various stakeholders.
- Scope Definition: Facilitate the definition of project scope, goals, and deliverables.
- Task Management: Define project tasks and resource requirements.
- Deliverable Tracking: Track project deliverables using appropriate tools.
- Plan Execution: Execute project work plans and timelines and revise them to meet changing needs and requirements.
- Reporting: Provide management reporting and information dissemination.
- Progress Monitoring: Monitor and report on the progress of the project to all stakeholders.
- Department Liaison: Work with various departments of the bank to determine ongoing projects and maintain and track projects in a central place.
- Risk Management: Identify project risks and develop and track mitigation plans based on organizational controls.
- Issue Resolution: Troubleshoot project-related issues and prioritize project activities to reduce the impact.
4. Assistant Treasurer Job Summary
- Case Review: Review assigned BSA/AML transaction monitoring system cases.
- Customer Analysis: Complete comprehensive reviews of customer activity escalated for further analysis.
- Relationship Scrutiny: Review complex and multi-tiered relationships.
- Report Writing: Write a comprehensive analysis of the account activity to support the disposition to close a case or file a SAR.
- Documentation: Thoroughly document case investigations, including supporting data, research, analysis, and rationale for the recommendation within the case management system promptly and in compliance with regulatory guidelines and FCC procedures.
- Risk Mitigation: Provide recommendations for off-boarding clients who pose a heightened risk to the Bank.
- Regulatory Knowledge: Maintain a high degree of relevant knowledge concerning BSA/AML laws and regulations.
- Leadership: Provide guidance and leadership to the Treasury team.
- Banking Relations: Support the Treasurer by ensuring all contractual obligations with banking relationships are being addressed.
- Financial Strategy: Assist the CFO and senior management in reviewing and analyzing re-finance requirements, corporate finances, and capital markets.
5. Assistant Treasurer Accountabilities
- Cash Flow Management: Manage group consolidated cash flow forecasting.
- Operational Improvement: Partner with the wider business to bring about proactive change in operational processes to improve cash management.
- Financial Modeling: Review and develop accurate financial models.
- Compliance Management: Manage the banking facilities ensuring compliance and operational structures are in place and up to date.
- Relationship Management: Manage key banking relationships and work proactively to ensure issues are dealt with quickly and efficiently.
- Process Review: Regularly review cash and treasury operational processes and share ideas to support change.
- Analytical Reporting: Produce detailed analytical reports to influence decision-making across the group.
- System Evaluation: Review current systems and identify possible treasury management software alternatives.
- Project Support: Engage in ad hoc project work supporting the commercial business on new contracts and negotiations.
- Project Participation: Participate in project meetings along with EPM, developing and maintaining project reports.
- Record-Keeping: Maintain consistent record-keeping and compliance in the use of enterprise project management software.