Director of Treasury Operations and Analysis
||7 - 10 Years
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Amherst College invites applications for the Director of Treasury Operations and Analysis position. The Director of Treasury Operations and Analysis is a full time, year round position, job group and level PT-5. Reporting to the Chief Financial Officer, the Director of Treasury Operations and Analysis provides leadership and strategic oversight for treasury operations. The Director will plan, execute and manage the College's bond issuances and other short-term and long-term arrangements; serve in campus-wide committees; and play a key and active roles in college-wide projects including the migration from Datatel/Colleague to a new ERP system. Takes appropriate actions to support a diverse workforce and participates in the College's efforts to create a respectful, inclusive, and welcoming work environment.
Direct the planning, execution, and ongoing management of the College's bond issuances and other short-term and long-term debt arrangements. Current debt balance = $480 million.
• Envision and implement strategies to optimize and reshape the College's debt portfolio over time
• Identify the optimal strategy for all debt events - new issuances, refinancing, and retirements
• Orchestrate the work of internal and external parties (underwriters, bond counsel, regulatory agencies, etc.) to execute successful issuances and refinancing at favorable terms to the College.
• Develop and implement strategies to meet debt service obligations.
• Maintain compliance with all debt covenants and tax-exempt issuance requirements
• Engage with rating agencies to provide required information in support of periodic rating reviews
• Develop and maintain active relationships with external partners and advisers (investment banks, independent capital planning consultants, MassDevelopment, bond counsel, etc.) to obtain consultative insights and the status of debt markets to assist in the optimization of the College's debt strategy.
• Engage with the board of trustees to present reports, analyses, and insights about the debt portfolio of the College
Treasury Operations & Analysis
• Oversee the work of a senior financial analyst (1/3rd time allocation, shared reporting relationship with the Director of Financial Planning & Analysis) and the work of a senior accountant (time allocation tbd, shared reporting relationship with the Controller) in the execution of this work.
• Select, manage and develop relationships with banking partners, in conjunction with the needs and desires of the Controller and those involved in cash disbursements and receipts throughout the College. Develop optimal strategies for the use of different bank accounts for various needs and purposes. Maximize yield on the investment of cash in a manner consistent with institutional risk tolerance.
• Develop comprehensive and sophisticated cash flow forecasting models. Use these models to plan for cash needs and to develop and implement strategies to invest working capital in short-term, intermediate, and/or long-term investment vehicles to maximize return on investment (ROI) within appropriate risk parameters. Collaborate closely with the College's Investment Office in this work.
• Develop policies and parameters for credit card receipts, including the maintenance of PCI compliance.
• Establish and execute strategy to maintain appropriate levels of institutional liquidity across the institution, including through collaboration with the Investment Office's efforts to manage and monitor liquidity within the long-term investment pool (LTIP). Develop means to report, analyze, and present liquidity.
• Establish strategy and policies for usage for lines of credit - operating and standby liquidity - that provide the College with reliable access to funds for opportunistic or emergency needs. Execute agreements and renewals with issuing banks.
• Develop financing and funding strategies for all capital projects. Collaborate with the Director of Financial Planning & Budget in the creation of the annual capital budget by providing information about funding capacity and limitations, financing options and limitations, and overall financial strategy.
• In collaboration with the Controller, establish optimal plant fund and capital project accounting methods to track, report, and analyze capital fund balances and activity. Maintain up-to-date reporting on the status and encumbrances of plant fund reserves. Develop optimal investment strategies to derive return within risk tolerance parameters for long-term plant funds.
• Monitor the funded status of the closed defined benefit pension plan, and determine investing strategy to achieve long-term funding objectives while limiting risk
• Project, analyze, and monitor future liabilities under the College's retiree medical health plans. Oversee the balances and direct the investment strategy for the designated reserve established to build the financial capacity to meet these obligations.
• Participate in the administration and evaluation of the College's faculty housing programs - home purchase program, mortgage assistance program, and rental program. Develop, monitor, and maintain funding strategies for major capital requirements (buybacks, renovations, etc.), including the maintenance and investment of a designated reserve. In conjunction with Campus Operations, evaluate the cost effectiveness of these programs relative to the institutional benefits they provide.
• Administer the deferred compensation programs of the College and the Library, including the execution of required contributions to the plans, reporting to plan participants, and initiation of
• Support Advancement efforts by enabling the receipt and processing of alternative forms of giving, including non-cash properties, international securities, illiquid securities, and emerging and alternative forms of payment.
• In conjunction with the Controller, establish, maintain, and continually enhance internal controls for all treasury activities, including wire transfers.
Projects & Committees
• Play a key and active role in the execution of a successful project to migrate from Datatel/Colleague to a new ERP system, including process revisions and enhancements throughout Finance, including Treasury functions; and changes and improvements to accounting structures, including the chart of accounts and plant fund accounts.
• Provide hands-on leadership for all treasury functions, and participate actively in all other aspects of the project where needed. May include the management and direction of a team throughout the duration of the project.
• Serve as a key representative from the Finance division on all institutional enterprise risk management (ERM) activities.
• Serve on the College's 403(b) plan committee, and participate in the evaluation of fund options within the plan.
• Serve as the College's representative on the board of Collegiate Catalyst Insurance Company, an insurance captive domiciled in Vermont that provides insurance coverages to the four liberal arts colleges within the Five Colleges, Inc. consortium. Ensure the College maintains adequate insurance coverage and risk mitigation strategies via its participation in the Captive.
• Master's Degree in Finance, Accounting, or a related field, or a Bachelor's Degree and 10 years of related experience
• 7 years of related experience
• Proven knowledge in areas of internal financial controls and workflow processes
• Strong written and verbal communication skills
• Proficient in Microsoft Office
• Experience working with a diverse community
Interestedcandidates should submit a cover letter, resume, and the names and contact information (email and/or telephone numbers) for three professional references. Applications will be reviewed until position is filled.
ABOUT AMHERST COLLEGE
Amherst College, one of the premier liberal arts colleges in the nation, is located in Amherst, Massachusetts, a town of approximately 35,000 residents in the western part of the state. The college's community is composed of about1,800 students from 48 states, plus Washington, D.C., Puerto Rico and 54 countries around the world, and about 1,000 staff and faculty. The college's scenic 1,000-acre campus includes a 500-acre wildlife sanctuary and the Book & Plow Farm ; three museums: Emily Dickinson Museum , Beneski Museum of Natural History and Mead Art Museum ; and multiple educational and cultural venues and resources through the Five College Consortium. The town of Amherst offers an amazing variety of coffee shops, restaurants and entertainment, and a very active outdoor life. Our vibrant campus, diverse community and beautiful surrounding, makes Amherst College and the Town of Amherst the perfect place to work, learn and live!
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