Cash and Investment Manager - City of Birmingham

02/07/2025 Grade 36 Full time The City of Birmingham is seeking a highly qualified Cash and Investment Manager to oversee the activities of the Cash and Investment Management Division. This role is responsible for managing the receipt and recording of revenue transactions, overseeing debt service payments, and handling related financial expenses. The Cash and Investment Manager will develop and implement policies to ensure robust internal controls that safeguard cash for all cash-handling personnel, as well as create and monitor short- and long-term investment strategies for internally managed portfolios to maximize investment yields.

This position involves overseeing the daily investment of available cash and/or funding of disbursement accounts, managing a portfolio with holdings totaling $1 billion. The Cash and Investment Manager will also be responsible for recording all investment transactions, including purchases, sales, gains, losses, and the receipt of dividends and interest. Additionally, the role includes preparing note disclosures for the Comprehensive Annual Financial Report’s sections on investment, debt, and cash, and managing all bond and warrant issues for the City. The individual in this position will also ensure the timely payment of debt service, payment agent, and escrow fees.

• Bachelor’s degree in Accounting, Finance, Business Administration, or a related field of study from an accredited institution.
• Experience accounting for debt in a municipality with revenues exceeding 50 million dollars (e.g., accounting for debt issuance and payment of debt service).
• Experience supervising employees who perform financial reporting, accounting, billing, collections, or other accounting-related tasks.
• Experience in preparing, reviewing, and analyzing financial reports (e.g., investment and cash disclosures for CAFR).
• Experience managing automated financial reporting and cash management systems (i.e., debt service transactions, investment transactions, cash flow projections, pooled cash, and investments).

• Certified Public Accountant (CPA).
• Master’s degree or higher in Accounting, Finance, Business Administration, or a related field.
• Experience reconciling investment transactions with custodial statements.

• Monitors the automated financial reporting system and related procedures by assisting in report preparation, running and reviewing monthly financial statements, and reviewing billing to ensure that adequate internal control, security, and adaptability are present.
• Maintains bank records by serving as administrator for the online banking system, researching discrepancies and payments, reconciling bank statements, and verifying funds to ensure compliance with financial regulations.
• Prepares, monitors, and administers departmental or organizational budget by reviewing spending trends, expenditure reports, analyzing financial data and ensuring expenditures are within annual budgetary limits.
• Manages the cash management systems by reporting cash operation activities, monitoring compliance, and reviewing all cash budgets to ensure liquidity and financial health.
• Collaborates with the other city departments by reviewing flow charts, engaging in problem resolution, and serving on various committees to ensure transparency.
• Provides service to internal and/or external customers.
• Oversees the maintenance of the general ledger (GL) by preparing journal entries, approving journal entries, and reconciling the general ledger to other financial records to ensure financial accuracy.
• Oversees the maintenance and reporting of confidential governmental financial records by preparing financial statements and reports, documenting reports, and reviewing tax distribution reports to ensure compliance to federal, state, and local guidelines and laws (e.g., Generally Accepted Accounting Principles (GAAP), Governmental Accounting Standards Board (GASB)).
• Reviews the city's investment portfolio by reviewing investment holding, monitoring contract compliance, and managing policy changes to ensure financial resources perform optimally.
• Manages short- and long-term investment strategy by monitoring funds, supervising investments, and conducting due diligence to ensure effective management of the organization’s resources.
• Manages a petty cash system for a department by creating petty cash policies, recording disbursements, and auditing the system to ensure financial stability.
• Engages in activities designed to ensure professional development, awareness of developments in the field, and knowledge of relevant practices, rules, laws, policies, and/or guidelines.
• Supervises staff by assigning and distributing work, directing staff in their job duties, monitoring progress of work, providing feedback and/or training.

Job is primarily sedentary involving sitting for long periods of time, but may involve occasional walking or standing for brief periods. May involve occasional light lifting of items or objects weighing up to 25 lbs. Work is conducted almost exclusively indoors in an office setting. Work involves use of standard office equipment, such as computer, phone, copier, etc.