What are the responsibilities and job description for the Treasury Manager position at VIRTUA?
Job Summary:
Manage Treasury functions for Virtua and affiliates under Corporate Finance structure. Focus on cash management, investments and debt management support for Virtua.
Manage Treasury staff and provide overall support to Vice President, Treasury in managing Virtua Corporate Treasury.
Position Responsibilities:
Direct Virtua cash management processes and reporting. Provide lead role in overseeing and developing cash processes for optimizing Virtua’s daily cash position and cash reporting. Ensure short-term cash, investments and bank line reserves are sufficient for liquidity resources. Develop and enhance functions involving bank systems, bank services and fees, e-Pay, merchant services and other processes. Manage and negotiate banking services and fees. Approve daily wires transfers for Virtua submitted by the Treasury staff. Direct Treasury staff with banking projects such as Revenue Cycle lockbox enhancements and other programs. Maintain cash management policies and procedures. Serve as liaison for Virtua’s banking relationships.
Provide investment management support for Virtua’s investment programs in working with investment managers, consultants and Virtua management team. Support Virtua Finance and Investment Committee in administering Virtua’s investment programs through management and reporting processes. Relative to Virtua’s Board Designated Investments and Pension, work with investment managers and consultants to maintain and enhance portfolios. Assist management with preparation of Committee investment minutes. For the Defined Contribution Plans’ investment programs, provide investment management support to the Virtua Retirement Sub-Committee in administering the plans. Work with recordkeeper and consultant to maintain and enhance the employees’ investments. Direct and review the Sub-Committee meeting minutes. Maintain investment policies for Virtua’s investment programs.
Manage Virtua’s debt portfolio and reporting. Supervise bonds post-issue operating and compliance reporting requirements for Virtua and affiliates. This includes monitoring Virtua’s existing bond issues for project fund expenditures, debt service and fees administration. Compliance activities include supervising and enhancing quarterly and annual institutional reporting and disclosure requirements to the Electronic Municipal Market Access (EMMA) system through Virtua’s digital dissemination agent, DAC (Digital Assurance Certification), for adhering to Municipal Securities Rulemaking Board (MSRB) rules and covenants under Virtua’s bond documents. Post-issue compliance also includes reviewing Schedule K relative to Virtua’s 990 tax-reporting and summarizing private business use activity for Virtua’s bond issues. Manage DAC portal for both regulatory and tax reporting functions relative to Virtua’s bonds. Duties also include reviewing annual Master Trust Indenture Asset Transfer test reporting. Manage Virtua’s bank lines and letter’s of credit for cash reserves and liquidity. Maintain debt policies for Virtua’s credit activities.
Provide Finance team lead support for S&P and Fitch Credit Rating Agency annual reviews for Virtua debt ratings. Coordinate with colleagues for Virtua profile updates and reporting requirements to the rating agencies.
Provide Treasury support with Virtua capital financings for new money projects and bond refundings in working with institutional lenders, investment bankers, financial advisors and Virtua management team. Assist with negotiating bank agreement renewals to enhance Virtua’s cost of capital. Support Virtua joint ventures with financing and banking activities as needed.
Support Vice President, Treasury with managing overall Virtua Treasury function. Provide lead support with annual audit activities and additional Treasury reporting requirements. Audit functions include Virtua’s annual financial external audit and Treasury Management internal audit.
Mentor and coach Treasury and Corporate Finance staff. Collaborate with staff to create best practice standards for achieving Virtua’s objectives and values in pursuing Virtua’s strategic imperatives, while also promoting professional development and career growth.
Position Qualifications Required:
Required Experience:
Three to five years business experience in finance, accounting, banking or corporate treasury. Treasury Management experience preferred. Ability to work independently to achieve goals and prioritize work assignments is expected. Excellent organizational, analytical and communication skills are required. Must have working knowledge of Windows, Word, Excel, Power Point and related programs.
Required Education:
Bachelor’s degree in Finance, Economics, Business or Accounting.
MBA, CPA, CTP preferred.
Training / Certification / Licensure:
Experience with the Association for Financial Professionals and/or Certified Treasury Professional desirable.
