Executive Director, Treasury Operations

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Job Description Summary

Commercial Banking and Custodial Banking Relationship Management: Treasury maintains all banking relationships with financial institutions on behalf of the University, allowing for the effective optimization of services and account structures.

Cash Management Operations: Treasury monitors daily bank activity, forecasts cash flow, establishes a daily cash position, transfers funds across financial institutions for funding purposes, pools available cash for investment, manages/mitigates financial risks, and ensures adequate liquidity is available to meet ongoing financial requirements.

Investment and Debt Management Operations: Treasury executes the operational aspects associated with managing the University's Liquidity investment pools debt portfolio. Responsible for the management of the University's operating banking and investment accounts, cash and debt forecasting, and internal and external debt portfolio administration. Oversight of all liquidity reporting, policy compliance and forecasting, debt management compliance, forecasting, credit reporting agency quarterly and annual reporting. Responsibilities include the management of endowment investment accounting, the proper use and classification of contributions by net asset classification.

Responsible for the management of capital projects and fixed asset accounting and reporting, ensuring compliance with fixed asset and project recording, capitalization, and inventory procedures. Ensure compliance with post-issuance debt compliance and reporting. Leadership development of staff in the capital projects and debt functions.

Responsible for all accounting, reporting, forecasting, and management for all treasury functions. Responsible for the management of all accounting and reporting activities for endowment and gift. Leadership development of staff in the treasury function.

Essential Functions:

Treasury Operational Oversight:

• Provide oversight for Liquidity Portfolio. Produce relevant reporting for senior management and the Board of Visitors.
• Manage debt policy to support the outstanding debt portfolio along with oversight of future issuance of all university and affiliated foundation debt.
• Work with internal and external counsel and financial advisors for new issuance and ongoing reporting and compliance, including private business use. Produce relevant reporting for senior management.
• Manage and administer all aspects of the university's central bank. This includes the preparation of management reports, adherence to internal accounting processes, procedures, the management of associated external investments, the execution of internal promissory notes, and the management of the central bank financial forecasting model.
• Manage calculation of the university's debt capacity and capital budget projections.
• Manage the university's external operating bank account(s) and associated banking relationship(s) and contract(s) as well as maintain strong internal and external controls over cash receipts, disbursements, electronic payments, and petty cash.
• Manages the University's banking relationships and administration to include the monitoring of daily cash, cash forecasting (weekly, monthly, and quarterly, multi-year). Prepare cash flow reports, identify and evaluates variances.
• Banking system maintenance and training, monitoring of fees, and international correspondent banks.
• Work with the external investment managers to make strategic decisions and recommendations to senior leadership associated with investments, investment policies, asset allocations, central bank modeling and analysis, quasi endowments, etc.
• Work in concert with the university's financial advisor to develop long-range debt and capital plans to manage the university's credit ratings, cash, debt and liquidity resources. Assist with presentation material for investors, rating agencies and coordinates or prepares materials for the Finance and Investment Committees.
• Maintain policies for compliance with federal, state and university obligations.
• Work with Budgeting and Planning on developing operating cash flow forecasts, enhance visibility into cash balances, optimize working capital and establish metrics/key performance indicators.
• Manage all capital projects and fixed assets activity to include the monitoring and maintenance of fixed assets, capital projects, debt service, the Central Bank, and associated financial reporting to management and the campus community.

Treasury Accounting and Reporting Oversight:

• Directs all accounting related activities for pooled and non-pooled endowment assets, trusts, gift annuities, and all other contributions to include general ledger setups and closings, system maintenance of the endowment, investment accounting, evaluation and monitoring of fund agreements, monitoring of purpose and time restrictions, proper net asset classifications, and the preparation of year-end audit schedules.
• Directs the review of all gift and endowment fund balances to ensure that funds are properly used in accordance with donor restrictions.
• Directs UPMIFA endowment policy updates and annual reporting to the Investing Committee.
• Directs all reporting activities for endowment and gift assets to include the endowment quarterly information reporting, donor stewardship reporting, budget forecasting, external surveys (e.g. NACUBO), analytical reporting to support management decisions, and the development of new reporting tools and/or technology.
• Coordinates the recording and tracking of bond funded property with the tax department to ensure accuracy, completeness, and consistency, as appropriate, of reporting for GAAP and tax reporting.
• Ensures all non-cash gifts are tracked, and if sold within the IRS reporting timeline, are communicated to the tax department for proper tax reporting.
• Develops, communicates, and trains the campus community on processes and procedures that support a strong internal control environment in compliance with GAAP, NACUBO, and other regulatory guidelines.
• Assists in the management of the University's annual audit to include the preparation of year-end audit schedules, interaction with external auditors, and the preparation of complex calculations and balance sheet valuations. In addition, manages internal audits of general accounting functions.

Internal Controls:

• Direct development and monitoring of policies and procedures designed to support a strong internal control environment that ensures compliance with University policies and procedures, prevents fraud, and detects weaknesses in a timely manner.
• Prepare policies, administrative procedures, training and educational materials related to endowment and gift accounting and implements training programs for finance staff and the campus community.
• Coordinate with all University entities and functional areas as well as the oversight of compliance with ASC and other regulatory guidelines.
• Prepare policies, administrative procedures, training and educational materials related to financial reporting and implements training programs for finance staff and the campus community.

Leadership:

• Serves as a key member of the Finance Management Team promoting best practices, high levels of customer service and implementation of strategic goals.
• Effectively work with internal business stakeholders to ensure accuracy of future cash flows.
• Duties as assigned by management.
• Manages, trains, and develops staff (3 direct reports).

Other Functions:

• None

Required Education, Knowledge, Skills, Abilities:

• Bachelor's in Accounting or Business with eight years of directly related experience, or an equivalent combination of education and experience.
• Strong knowledge of general treasury, forecast, budgeting, and accounting.
• Strong financial modeling.
• Ability to apply complex accounting principles, concepts, and regulations to practice.
• Strong organizational and problem-solving skills.
• Strong verbal and written communication skills and ability to work effectively within a diverse campus community.
• Leadership skills that promote integrity, effective communication, and motivation of staff and colleagues.
• Collaborative style and ability to work within a team environment.
• Ability to handle sensitive information in a confidential manner.

Preferred Education, Knowledge, Skills, Abilities:

• Experience in Higher Education accounting.
• CPA and/or Masters in related discipline.
• Strong knowledge of U.S. accounting principles (GAAP) and the higher education industry.
• Knowledge of and technical proficiency with accounting systems and related applications. Experience with Workday ERP.

Accountabilities:

Provides direct supervision to Endowment, Plant & Fixed Assets, and Treasury staff.

Additional Job Description

Note:

This position profile identifies the key responsibilities and expectations for performance. It cannot encompass all specific job tasks that an employee may be required to perform. Employees are required to follow any other job-related instructions and perform job-related duties as may be reasonably assigned by the employee's supervisor.

To help provide a safe learning and living community, Wake Forest University conducts background investigations and drug screens for all final candidates being considered for employment.

Wake Forest seeks to recruit and retain a diverse workforce and encourages qualified candidates across all group demographics to apply.

Wake Forest University is committed to providing access and reasonable accommodation in employment for individuals with disabilities.

Time Type Requirement

Full time

Note to Applicant:

This position profile identifies the key responsibilities and expectations for performance. It cannot encompass all specific job tasks that an employee may be required to perform. Employees are required to follow any other job-related instructions and perform job-related duties as may be reasonably assigned by his/her supervisor.

In order to provide a safe and productive learning and living community, Wake Forest University conducts background investigations and drug screens for all final staff candidates being considered for employment.

Wake Forest seeks to recruit and retain a diverse workforce while promoting an inclusive work environment committed to excellence in the spirit of Pro Humanitate.