Duties of a Treasurer

Duties of a Treasurer – A Treasurer, also called a “Financial Controller,” is in charge of all the money that comes into or goes out of an organizing committee. Their main jobs are to make budgets, report on finances, keep records, and manage money coming in and going out.

A treasurer is a job that is found in all kinds of businesses. A company’s treasurer is in charge of the company’s budget and investments. They also manage and try to reduce the company’s financial risk. A treasurer will make sure that cash is managed well and that money is spent in the right way to help the business grow. Most people with this job title start out working in accounting or finance for the company. As they learn more about how money works, they work their way up to the position of treasurer.Duties of a Treasurer

Because the job involves managing and keeping track of a lot of money, you need a graduate degree in finance, accounting, or a related field. Also, a lot of treasurers keep going to school and getting master’s degrees in finance. Treasurers who do well in their jobs tend to be responsible and pay close attention to every detail.

Treasurers are in charge of a company’s finances and make sure the organization follows all legal accounting rules. Their job is to keep the company’s finances in good shape and make them better. They do this by setting financial policies, evaluating risks, figuring out funding opportunities, and giving advice on investment opportunities.Information Guide Nigeria

Treasurers are in charge of the receivables management area, which includes cash management, collections, refunds, and the middle-office operations of investments. Manages tasks related to financial reporting, tax compliance, international accounting and consolidations, and planning for cash management at home and abroad. This person is often a member of the executive team and usually works directly for the CFO.

Read Also: Duties of a Content Manager

Duties of a Treasurer

• Write outgoing cheques
• All business financial transactions should be written down.
• Take care of official reports and bank statements.
• Watch over and sign off on all financial plans or changes to plans
• Plan and make sure that the pre-set budget for the year is followed.
• Make sure that the money is safe from any possible misuse by other committee members. NYSC Portal
• Take care of all of the company’s incoming and outgoing bank transactions.
• Send in regular reports with information about the company’s finances and predictions for the next quarter.
• Set up company rules about how receipts and other financial information should be recorded and accounted for.
• Make monthly and annual budgets and keep an eye on spending all the time.
• Review financial statements and give advice on business money matters.
• Try to keep a good working relationship with your partner financial institutions.
• Meet with the finance and accounting departments and help them come up with financial plans every three months and once a year.
• Make investments and stock decisions for the company based on good information.
• managing how company funds are received, banked, and kept safe.
• Advising senior managers on risk assessments, such as loans, investments, and the company’s cash flow.
• Trying to guess how much the company will need to borrow.
• Taking care of the company’s financial systems and policies that control the treasury. JAMB Portal
• Keeping up with the finances of third parties.
• Taking care of treasury tasks that were outsourced.
• Putting together budgets and statements of finances.
• sending in financial and forecasting reports.
• Putting laws and financial policies into action.
  Perform risk management (liquidity, interest rates, ventures, etc.)
• Take responsibility for how money is handled.

Read Also: Duties of a Front Desk Agent

• Invest the company’s money and make decisions about it.
• Help come up with plans for getting money.
• Keep in touch with banks and credit rating agencies
• Give advice on financial matters for a business.
• Make budgets and keep track of spending
• Put in place the right laws and policies
• Send in reports on your current financial situation and your plans for the future.
• Analyzes and suggests the best capital structure options and a plan for putting them into action.
• Examines the company’s ability to borrow money and how best to use debt to fund future growth, with a focus on current and future leverage metrics and how they affect rating agencies.
• Supports and manages the financial structure by negotiating and carrying out financing transactions, such as bank facilities, debt financing, lenders, the review of documents, and covenants, as needed.
• Manages investments and helps with foreign currency hedging and stock repurchase programs.
• Makes sure that Treasury strategies are in line with business growth and risk reduction.
• Guarantees that what global banking needs are enough to keep the business going.
• Develops a strategy and the policies and procedures that go with it for the global banking structure of the company. 10 Best Hoverboard Scooters and Accessories in Nigeria and their Prices
• Increases the efficiency of operations while reducing risk and bank fees.
• Gathers information from all over the company to create a routine cash forecasting process, taking into account working capital policies, accounting methods, capital projections, and board approvals.
• Sets up a plan and strategy for investing cash when it makes sense while ensuring operational flexibility and keeping capital safe.
• Predicts how much cash the business will need and makes suggestions to the Executive Staff and BOD about how to get the money. This could be through the purchase of debt, the sale of stock, or changes to company policies that affect how much working capital the business needs to run.
• Takes care of credit and collections.
• Plan the organization’s finances, get the money it needs, and decide how to invest it.
• Takes care of receiving, sending out, banking, protecting, and keeping money, securities, and other financial instruments. 15 best Carpet Grass and their prices in Nigeria
• Plan for financial decisions and positions in the future.
• Gives advice on investments and loans to the management.
• Prepares and analyses financial reports.
• watch over account collections and new credit.

Read Also: Duties of a Certified Registered Nurse Anesthetist (CRNA)

• Make plans for how to collect debts.
• Examine all financial records to check on what happened in the past.
• Oversee investment portfolio management.
• Find team members, train them, and manage them.
• If necessary, make sure to follow all Sarbanes-Oxley (SOX) rules.
• Keeps the company’s assets safe and invests any extra money or funds from pensions and trusts.
• Control the credit policy as a whole.
• Make sure you have insurance.
• Keep up good relationships with your banks.
• Set rules for short-term investments.
• Costs are planned out in a budget and costs are managed by the company.
• Take care of the organization’s finances.
• Check out the expected cash flow, any borrowing needs, and funds that can be used to invest.
• Make sure there are enough funds to cover ongoing operational and capital investment needs.
• Use hedging to reduce financial risks related to the company’s cash flows and interest rates on loans, as needed.
• Give advice to management on the liquidity parts of its short-term and long-term plans
• Maintain an effective set of policies and procedures that give treasury activities the right amount of control and help with regulatory reporting.
• Make sure the organization’s billing programs are correct and working well.
• Keep all domestic and international banking relationships in good shape.
• Maintain the broker’s database for trade clearance and counterparty risk
• Keep in close touch with banks and other providers of financial services.
• Set up a way to work with business partners, shared services, and FP&A to make the best use of working capital.
• Create a way to track how well service providers, such as third-party managers, trustees, and custodians, do their jobs.
• Work with internal stakeholders to keep the capital structures of subsidiaries in line with business, tax, and regulatory needs.
• Develop strategic financial projects (rating agency presentations, mergers and acquisitions, and financing needs) with the help of key stakeholders.
• Finish special projects as they are given so they can be shown to upper management and external boards.
• Create treasury dashboards that are useful for different stakeholders and keep track of KPIs.
• Manage operating cash flow to get the most interest income
• Watch over the accounting and processing of electronic cash receipts and cash payments.

Read Also: Duties of a Personal Assistant (PA)

• Oversee the daily cash position activities, such as managing daily liquidity, reconciling the cash position, and reporting to the bank.
• Improve and run the process of predicting regional and corporate direct cash flow.
• Develop the right reporting and modeling skills to meet short-term and long-term liquidity forecasting needs by working closely with corporate FP&A on indirect modeling. Good Morning My Love Message
• Set cash goals to help you manage your cash flow well.
• Serve as the main point of contact with commercial banks for cash management, trust, and custody services, as well as with business managers for day-to-day treasury needs.
• Serve as an authorized signer on bank accounts and a company officer, as needed.
• Check quarterly and annually to see if loan agreements are being kept.
• Check on the program for credit insurance
• Lead in finding risks and making complicated plans to deal with them.
• Serve as the main point of contact with investment advisors to make sure they are following the company’s investment policy, make funding suggestions to make sure there is enough cash flow, review monthly returns, and evaluate manager performance.
• Watch over the buying and selling of investments that have been approved by the Board of Directors investment committee.
• Review and analyze the fees for banking and investment management to find ways to cut costs.
• Manage capital market efforts, along with private equity sponsors and senior management, that allow for a good capital structure and growth.

Read Also: Duties of a Patient Care Technician

• In accordance with debt agreements, make sure debt covenants are met and prepare related calculations and certificates.
• Develop and lead hedging programs to reduce risk caused by changes in currency and interest rates
• In charge of investing money in a way that follows the law
• Create and enforce strong internal controls and policies for managing money Romantic Love Message

We hope that this article will help you to make an informed decision.

Check JAMB RESULT

Check and Confirm: How much is Dollar to Naira

📢 We are hiring writers!