Treasurer Job Description, Roles/Responsibilities, and Qualifications

Treasurer job description: A Treasurer, also known as a Financial Controller, is in charge of all financial transactions and fundraising activities that come into or out of an organizing committee. Budget planning, financial reporting, record-keeping, and managing incoming and outgoing cash are among their key responsibilities.

A treasurer is a position held by people in various types of enterprises. A 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 oversee cash management and support prudent expenditure to enhance business growth. Most personnel with this title begin their careers with the company in financial jobs such as accounting or finance and work their way up to the title of treasurer as they obtain a thorough understanding of financial procedures.

A master’s degree in finance, accounting, or a similar discipline is essential because the role involves managing and accounting for huge sums of money. Furthermore, many treasurers further their studies and obtain master’s degrees in finance. Treasurers that excel in their jobs are known for their accountability and rigorous attention to detail.Treasurer Job Description

Treasurers monitor a company’s financial operations and guarantee that all legal accounting rules are followed. Their role is to guide financial policies, assess risks, determine funding options, and advise on investment opportunities in order to preserve and strengthen the company’s financial condition.

Treasurers are in charge of overseeing the receivables management sector, which includes cash management, collections, and refunds, as well as the middle-office activities of investments. Manages domestic and foreign financial reporting, tax compliance, international accounting and consolidations, and cash management planning tasks.Information Guide Nigeria

Read Also: Lab Technician Job Description and Roles/Responsibilities, Qualifications

Responsibilities of a Treasurer

• Manage formal paperwork and bank statements for the organization
• Monitor and authorize all financial plans and plan amendments
• Plan and verify adherence to the predetermined annual financial budget.
• Ensure the safety of funds from any potential misappropriation by other committee members.
• Manage the organization’s incoming and outgoing banking transactions.
• Submit monthly reports describing the company’s current financial position and quarterly projections.
• Implement procedures for the documenting and accounting of receipts and other financial data.
• Create monthly and annual budgets while constantly checking to spend.
• Review financial statements and provide guidance on business finance matters.
• Maintain a positive professional rapport with collaborating financial institutions.
• Meet regularly and annually with the finance and accounting departments and assist in the development of financial strategy. 10 Best MTN Routers in Nigeria and their prices
• Make well-informed decisions regarding the company’s investments and stock.
• Managing the reception, banking, and security of the organization’s funds.
• Senior management is advised on risk assessments, such as firm loans, investments, and liquidity.
• Anticipating the firm’s financing requirements.
• Maintaining the financial systems and procedures that govern the treasury activities of the company.
• Maintaining financial activity for a third party.JAMB Portal
• Performing outsourced treasury duties.
• Budgeting and financial statement preparation
• Providing financial and forecasting reports.
• Implementing fiscal and legislative policies.
  Perform risk management (liquidity, interest rates, ventures, etc.)
• Accept responsibilities for monetary management
• Manage and make investment decisions for the organization.
• Contribute to the formulation of finance strategies Good Morning My Love Message
• Maintain ties with financial institutions and rating agencies
• Provide guidance on corporate finance matters.
• Budgeting and monitoring expenditures
• Implement applicable laws and policies
• Submit reports detailing the current financial condition and projections NYSC Portal
• Analyzes and suggests optimal capital structure alternatives and implementation strategies.
• Focuses on present and future leverage measurements and rating agency implications in evaluating the company’s borrowing capacity and appropriate use of debt to finance future growth.
• Supports and administers the financial framework, including bank facilities, debt financing, lenders, paperwork review, and covenants.
• Executes the stock repurchase program, provides support for foreign currency hedging and manages investments.
• Ensures alignment between Treasury strategy and corporate growth while limiting risk.
• Ensures that worldwide banking requirements are sufficient to support the enterprise.
• Develops a strategy and associated rules and processes for the worldwide banking structure of the organization.
• Boosts operational effectiveness while decreasing risk and banking fees.

Read Also: Handyman Job Description, Roles/Responsibilities, Qualifications

• Compiles information from across the organization to develop a normal cash forecasting process, taking into account the influence of working capital regulations, accounting methodologies, capital plans, and board approvals.
• Establishes a strategy and policy for investing cash as needed, while preserving operational flexibility and capital.
• Anticipates cash requirements and makes suggestions to the Executive Staff and BOD for generating funds through the acquisition of debt, sale of shares, or modification of corporate policies that affect the amount of working capital required to operate the firm.
• Manages the collection and credit procedure. Romantic Love Message
• Oversees the organization’s financial planning, procurement, and investment of finances.
• Deals with the receiving, disbursement, banking, security, and custody of funds, securities, and financial instruments. 20 Best Galaxy A10 Cases in Nigeria and their prices
• Predict future financial conditions and decisions.
• Provides management with investment and loan advice.
• Prepares and analyses financial reports.
• Supervise collections and credit extensions.
• Develop debt collection policies.
• Examine all financial records in order to conduct an audit of past acts.
• Oversee investment portfolio management.
• Recruit, instruct and supervise team members.
• Whenever necessary, maintain compliance with all Sarbanes-Oxley (SOX) regulations.
• Preserves firm assets and invests surplus funds, pension funds, and trust funds.
• Manage the overall credit policy
• Make insurance arrangements.
• Maintain favorable bank relationships.
• Develop short-term investment strategies.
• Supervise the company’s expense budgeting and cost management processes.
• Manage the organization’s financial matters.
• Examine anticipated cash flow positions, related borrowing needs, and available investment capital.
• Ensure adequate finances are available to satisfy ongoing operational and capital investment needs
• Use hedging to limit financial risks associated with the company’s cash flows and interest rates, where appropriate.
• Advise administration on its short- and long-term liquidity strategies.
• Maintain an effective system of policies and processes that impose a sufficient level of control over treasury activities and facilitate regulatory reporting.
• Ensure the effectiveness and accuracy of the organization’s billing programs
• Maintain all domestic and international banking connections
• Maintain database for broker trade clearance and counterparty risk
• Maintain effective relationships with banks and other financial service providers.
• Develop a structure to optimize working capital in collaboration with business partners, shared services, and FP&A.
• Establish performance monitoring for service providers, such as third-party managers, trustees, and custodians.
• Collaborate with internal stakeholders to maintain the capital structures of subsidiaries in accordance with business, tax, and regulatory needs
• Develop strategic financial efforts (rating agency presentations, mergers and acquisitions, and funding needs) in collaboration with key parties
• Complete special projects and present them to high management and external boards as required.
• Create treasury reporting dashboards suitable for a variety of stakeholders and monitor KPI
• Manage extra operational funds to maximize interest income.
• Supervise the processing of electronic cash receipts and cash outflows, as well as accounting
• Manage daily cash position tasks, including daily liquidity management, cash position reconciliation, and bank reporting.
• Enhance and manage the direct cash flow forecasting process at the regional and corporate levels.
• Develop the reporting and modeling skills necessary to meet short- and long-term liquidity forecasting needs via indirect modeling in close collaboration with corporate FP&A.
• Establish cash goals to support effective liquidity management
• Serve as the principal point of contact with commercial banks for cash management services, trust, and custody, as well as with business managers for daily treasury requirements.
• As required, serve as an authorized signatory on bank accounts and an officer of company entities.
• quarterly and annual monitoring of compliance with loan agreements
• Monitor the credit insurance

Read Also: Interior Designer Job Description and Roles/Responsibilities, Qualifications

• Leadership in risk identification and development of complicated mitigation techniques
• Serve as the principal point of contact with investment advisors to guarantee policy alignment, fund sufficient cash flow, monitor monthly returns, and evaluate manager performance.
• Supervise the implementation of investment transactions (redemptions and purchases) authorized by the Board of Directors investment committee.
• Examine and assess banking and investment management fees in order to identify cost savings.

Roles of a Treasurer

A Treasurer is in charge of an organizing committee’s finances in general. They make budgets for the organization and keep track of them. They also collect, deposit, and keep track of money, write checks, and give regular financial reports to other committee members. The Treasurer keeps an eye on the committee’s money and makes sure it is safe. The Treasurer is also in charge of making sure that bank statements match up, managing cash flow, and investing money in a way that is legal. They might also help raise money for the committee to improve its finances.

Read Also: Personal Assistant (PA) Job Description, Roles/Responsibilities, and Qualifications

Treasurer job qualifications/skills

• A bachelor’s degree in accounting or finance is required.
• Previous experience as a treasurer is required.
• CPA accreditation. Good Morning My Love Message
• Expertise in industry-related financial software systems such as SAP and Oracle.
• Outstanding communication and predicting abilities.
• Comprehensive understanding of financial legislation.
• Understanding of financial methods and investment management.
• Advanced mathematics abilities are required.
• Financial report writing and presentation skills

Read Also: Veterinarian Job Description, Roles/Responsibilities, and Qualifications

Treasurer salary structure in the USA

What is the salary of a Treasurer in the United States? The average Treasurer’s salary in the United States is $225,055, with a salary range of $182,879 to $276,919.

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!