CLASS DEFINITION
GENERAL STATEMENT OF DUTIES:
The Cash Manager is responsible for the overall management of the state’s cash and treasury management program. The primary duties are to provide accurate cashflow forecasts, to ensure the prudent investment of cash balances, and to manage relationships with the state’s banking partners. In addition, the Cash Manager is responsible for interactions with consultants, custodians, and state agency stakeholders to ensure proper reporting of cash activities.
To professionally, courteously and respectfully treat all contacts with customers of the General Treasurer’s Office including the public, other government agencies, the business community, fellow employees and any other customers, both in person, when answering incoming phone calls, emails, letters and any other form of contact, and to project a customer-friendly attitude committed to provide high quality customer service.
SUPERVISION RECEIVED: Operates with considerable latitude and independent judgment under the direction of the Chief Investment Officer. Work is evaluated for results obtained and conformance to administrative goals and objectives.
SUPERVISION EXERCISED: Direct supervision of the cash management unit.
ILLUSTRATIVE EXAMPLES OF WORK PERFORMED
To be principally responsible for the administrative operations related to the investment of cash balances. Responsible for forecasting cash flows and oversight of daily cash management and pension funding coordination with the long-term investment management team. Primary responsibility for investment options and opportunities, strategic financial planning, and debt service coordination.
To interface with State Controller and Budget Office to accelerate receipts and collection and make prudent investment of funds to maximize yield.
To conduct in-depth analysis to reveal possible opportunities for further investment of cash reserves and advise the State Investment Commission regarding approved trading partners and opportunities to adjust policies.
To continuously monitor the financial institutions with whom the State has placed its deposits for compliance with state standards and maintain required records.
To monitor compliance of short-term investments activity in accordance with short-term investment policy; to keep abreast of evolving standards and best practices within the treasury management industry; to research and develop suggested changes to the investment policy for consideration by the State Investment Commission as warranted.
To improve cash flow modeling concepts, techniques, and analysis procedures to ensure that forecasts are accurate and timely.
To provide oversight and ensure the Deputy Cash Manager maintains departmental records for cash and banking activity for the State and interacts with auditors to facilitate the production of annual financial statements and audits of internal controls.
To compile an annual report of cash management and banking activity, and investment performance, to be provided to the State legislature and the public.
To ensure critical cash flow analysis is communicated timely to the appropriate areas of State government, including forecasting for any short-term borrowing needs.
To oversee the deployment of technology solutions for the State’s cash management activities. This includes the treasury management system utilized to capture and categorize the state’s banking activity, and administration of all investment and banking online management platforms.
To provide oversight of the Deputy Cash Manager’s deployment of banking services and training at agency locations such as lockboxes, remote deposit capture systems, cash vault services, etc.
To coordinate the work and information flow with other Treasury functions to ensure timely and accurate cash projections for use by the Office of Debt Management and the Employees Retirement System of Rhode Island.
In conjunction with the Deputy Cash Manager, to plan, organize, coordinate and direct the ongoing training of the short-term investment staff for technical proficiency.
To manage proposals for contracts related to banking services and technology to ensure continuous adoption of best-practices and best pricing for the State.
To maintain accountability for acceptable and adequate collateralization of all State funds on deposit with financial institutions.
To be responsible for managing relationships with banks, financial institutions, consultants and investment firms.
In coordination with the State Controller, to ensure the accuracy of and proper controls over the disbursement of State electronic payments and funding, as well as the recording of the State’s cash investments.
To do related work as required.
REQUIRED QUALIFICATIONS FOR APPOINTMENT
KNOWLEDGES, SKILLS, CAPACITIES: Must have considerable knowledge of treasury cash management in the public or private sector, including managing large cash portfolios, and short-term cash investments including repurchase agreements, money market funds, G.I.C.’s, CD’s and other short-term vehicles. Must have considerable knowledge of banking relationships, modern cash management information systems and a working knowledge of computer systems.
EDUCATION AND EXPERIENCE: Such as may have been gained through graduation from a college of recognized standing, with a degree in finance, accounting or similar field; and Experience such as may have been gained through employment in a corporate or public finance setting where individual managed cash flow models, developed investment guidelines, invested short term funds, developed and managed banking relationships, and developed and managed information systems.
Or, any combination of education and experience that shall be substantially equivalent to the above education and experience.
If an applicant is unable to perform any essential job functions because of his/her disability but can achieve the required results by means of a REASONABLE ACCOMMODATION, then the individual shall not be considered unqualified for the position.
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