The University of Chicago
Executive Director, Global Treasury, Financial Administration and Strategic Proj
The University of Chicago, Chicago, Illinois, United States, 60290
Department
F&A FIN - Financial Services
About the Department
Finance and Administration represents a committed group of people who serve the University in a variety of areas including Financial Services, Information Technology Services, Risk Management, Internal Audit, Compliance, Human Resources, and Shared Services.
The goal of our division is to provide the services and support needed to foster an environment of academic and research excellence at the University of Chicago. Our team is dedicated to collaborative partnerships with our colleagues and customers that lay the foundation for an exemplary service delivery process. Finance and Administration is fully aligned with the strategic and academic priorities of the University, and each of the units within our division is tasked with implementing the processes necessary to achieve lasting excellence.
Job Summary
The Executive Director of Global Treasury, Financial Administration and Strategic Projects provides leadership and direction through managers who are responsible for the financial management of operating and capital budgets for divisions and/or University-wide administrative units. This includes developing forecasting and financial reporting for the University at an aggregate and unit level, including cash forecasting, intrayear operating performance, long-term modeling among a number of other forecasting and financial reporting tools. Create and maintain cash forecasting models in order to more strategically invest short-term cash and borrowing of lines and commercial paper program. Leverage various ERPs and treasury management systems such as Kyriba and other modern tools available will be essential in this role. Accountable for the performance and results of a centralized unit. Gives input and executes sub-function strategy to achieve key University objectives that have a campus-wide effect.
This role is responsible for the strategic management and planning of the University’s treasury/cash operations; overseeing the University’s commercial bank relationships, dynamic receipt and disbursement services, treasury IT systems, monthly reconciliations for select accounts, daily cash positioning and forecasting and general ledger posting. The position works closely with units/schools, centers, departments and business units within the University and banking partners and other vendors to support the University’s treasury/cash management needs and ensure banks are providing the appropriate services and fraud protection. This also includes working with various stakeholders within the University to support the University’s growing international banking activity and also providing consultation and partnering with the University of Chicago Medical Center (UMC) when appropriate.
Additionally, the Executive Director of Global Treasury, Financial Administration and Strategic Projects will be a resource to the University's mortgage program which is a highly valued and critical component of UChicago’s recruiting strategy when it comes to eminent faculty candidates or retaining coveted faculty members.
Responsibilities
Manages the accounts receivable function for the University, including revenue billing and collection.
Manages strategic financial projects, such as large capital projects, auxiliary profitability, strategic financings and other key projects to drive improved financial operating performance.
Oversees the Enterprise Risk Management risk register and business continuity plan for the department and more importantly for the University’s global treasury/cash management, ensuring it is up to date and critical operations are accounted for.
Defines goals for treasury/cash management staff and the department.
Tracks progress of these goals and provides necessary support and guidance to ensure they are accomplished.
Provides recommendations to the Associate Vice President for Finance on the direction of treasury/cash operations/management initiatives at the University, ensuring UChicago stays up-to-date with industry standards and operates efficiently.
Partners with the Associate Vice President for Finance in the leading and development of Analyst Program and Decision Support Committee. These two efforts, but not limited to, will be critical in the professional development of the finance professionals at UChicago and will be a pilot program that will be implemented more widely throughout the University.
Oversees the University’s liquidity and working capital portfolio which includes bank cash balances, short-term investment accounts, lines of credit and commercial paper program (approximately $800 million as of December 2022).
Supervises daily cash positioning to ensure cash is available for University operations. This includes cash allocation in bank accounts and short-term investments.
Supports Associate Vice President for Finance in achieving short-term cash objectives; optimizing returns on cash balances while maintaining daily, weekly and long-term liquidity.
Creates and maintains cash forecasting models in order to more strategically invest short-term cash and borrowing of lines and commercial paper program. Leveraging treasury management system such as Kyriba and other modern tools available will be essential in this role.
Develops reporting package for senior management on the University’s liquidity and key cash management operating metrics, to include daily, weekly, monthly and quarterly reports in order to provide visibility to the University’s liquidity position and assist in forecasting and decision making.
Manages all relationships with financial institutions supporting the University’s cash management operations, including contract review and negotiation.
Focuses on maintaining strategic partnerships with cash management partners across the University.
Opens and maintains University bank accounts, receipt and disbursement services for secure and efficient operations.
Develops, implements and maintains bank account structures. Serves as liaison between banks and third-party cash management vendors, and University units/departments.
Oversees administration for the University’s online banking platforms and Treasury systems (especially UChicago’s current Treasury Management System Kyriba).
Supervise regular, at minimum annual, review of all University bank accounts and services. Ensures all account services are current and unnecessary services are removed; University accounts are set up with proper fraud management services; and supervises monthly review of bank fees.
Resource and partner to stakeholders throughout the University on the system-wide technical aspects of the Payment Card Industry Data Security Standards (PCI DSS) compliance program focusing on maintaining security controls and processes and supporting evaluations of new credit card processing systems and/or other payment methods.
Reviews and approves contracts related to credit card processing and monitoring compliance, such as penetration testing, annual Self-Assessment Questionnaires (SAQs), quarterly scanning and Qualified Security Assessors (QSAs). Heavily involved in handling any PCI concerns, actively playing a part in remediation efforts as needed. It will also be essential for this position to be involved in any and all adherence to compliance efforts such as Gramm-Leach-Bliley Act (GLBA).
Oversees University receivables management ($2+ billion)
Leads and enhances internal processes to drive operational efficiency and ensures compliance with internal policies.
Issues RFPs as needed to evaluate additional solutions to ensure units/schools/centers have access to the most efficient, secure channels for processing revenue (cash/checks/credit cards).
Structures and leads regular governance meetings with units/schools/centers to gain visibility to receivables and collections status across campus.
Assesses the products, services, technologies and systems that are available and appropriate for the Treasury department. Issue RFPs as needed to evaluate these services.
Leads efforts to create and socialize policies and training to those across the University who are touchpoints on receivables and/or revenue receipts.
Resource and partner to those involved in the management of this program and that may include serving as a main point of contact for loan participants and University personnel, working with Deans and Office of General Counsel to originate and close loans as needed.
Oversees the administering of the program, providing monthly reporting file to payroll, and creating monthly journal for University loans.
Provides global cash management support to departments operating internationally.
Facilitates the opening of new global banking relationships and implement services as needed.
Tracks University’s foreign currency accounts and monitors currency risk. Ensures University is processing FX transactions at competitive prices.
Serves as main point of contact for external and internal auditors. Ensures all treasury/cash management audit requests are fulfilled.
Supervises internal audits of cash/receipts on campus and users on University banking systems, internal and external systems.
Ensures compliance with internal controls, policies and procedures. Proposes, creates and updates policies and training materials as needed to be in line with best practices of the industry and ideally be at the forefront.
Manages business continuity plan, ensuring it’s up to date and critical operations are accounted for.
Oversees reconciliation of internal budget accounts used for cash management. Attends regular meeting to review with Accounting and Financial Reporting office.
Oversees the management of operating and capital budgets, information and accounting systems, revenue billing and collection, and the monitoring of expenditures on active accounts.
Establishes budgets for all areas within scope of responsibility. Directs quarterly and year-end reporting for the operating budget.
Performs other related work as needed.
Minimum Qualifications
Education:Minimum requirements include a college or university degree in a related field.
-Work Experience:Minimum requirements include knowledge and skills developed through 10+ years of work experience in a related job discipline.
-Certifications:
-
Preferred Qualifications
Education:
Bachelor's or Master’s degree in a STEM, business, accounting or economics field.
Experience:
10+ years experience in higher education finance, corporate or municipal finance, treasury management, and/or accounting.
Certifications:
CTP certification desirable.
Technical Skills or Knowledge:
Fluency in using Microsoft Office (Excel, PowerPoint, Word), treasury management system (ex: Kyriba, GTreasury, FIS, etc.) and Oracle systems.
Familiarity with GAAP financial statements.
Preferred Competencies
Team-oriented professional who embraces and advocates for diversity, equity, and inclusion (DE&I) as good business practice. DE&I efforts are essential to the culture and fabric of the University of Chicago overall and Financial Services, the department under which this position falls, has fully committed to dedicating resources and efforts to DE&I at all levels of the organization from recruiting and hiring practices to professional development and goal setting for individuals and group.
Interact impactfully with senior leadership and facilitate the professional development of team members, especially new hires and analysts on the team.
Strong quantitative skills and demonstrated understanding of best practices in treasury management and operations for both domestic and international transactions.
Proven attention to detail and desire to continuously learn and improve.
Application Documents
Resume/CV (required)
Cover Letter (required)
References Contact Information (3)(required)
When applying, the document(s) MUST be uploaded via the My Experience page, in the section titled Application Documents of the application.
Job Family
Financial Management
Role Impact
People Manager
FLSA Status
Exempt
Pay Frequency
Monthly
Scheduled Weekly Hours
37.5
Benefits Eligible
Yes
Drug Test Required
No
Health Screen Required
No
Motor Vehicle Record Inquiry Required
No
Posting Statement
The University of Chicago is an
Affirmative Action/Equal Opportunity/Disabled/Veteransand does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender, gender identity, national or ethnic origin, age, status as an individual with a disability, military or veteran status, genetic information, or other protected classes under the law. For additional information please see the
University's Notice of Nondiscrimination.
Staff Job seekers in need of a reasonable accommodation to complete the application process should call 773-702-5800 or submit a request via
Applicant Inquiry Form.
We seek a diverse pool of applicants who wish to join an academic community that places the highest value on rigorous inquiry and encourages a diversity of perspectives, experiences, groups of individuals, and ideas to inform and stimulate intellectual challenge, engagement, and exchange.
All offers of employment are contingent upon a background check that includes a review of conviction history. A conviction does not automatically preclude University employment. Rather, the University considers conviction information on a case-by-case basis and assesses the nature of the offense, the circumstances surrounding it, the proximity in time of the conviction, and its relevance to the position.
The University of Chicago's Annual Security & Fire Safety Report (Report) provides information about University offices and programs that provide safety support, crime and fire statistics, emergency response and communications plans, and other policies and information. The Report can be accessed online at:
http://securityreport.uchicago.edu. Paper copies of the Report are available, upon request, from the University of Chicago Police Department, 850 E. 61st Street, Chicago, IL 60637.
#J-18808-Ljbffr
F&A FIN - Financial Services
About the Department
Finance and Administration represents a committed group of people who serve the University in a variety of areas including Financial Services, Information Technology Services, Risk Management, Internal Audit, Compliance, Human Resources, and Shared Services.
The goal of our division is to provide the services and support needed to foster an environment of academic and research excellence at the University of Chicago. Our team is dedicated to collaborative partnerships with our colleagues and customers that lay the foundation for an exemplary service delivery process. Finance and Administration is fully aligned with the strategic and academic priorities of the University, and each of the units within our division is tasked with implementing the processes necessary to achieve lasting excellence.
Job Summary
The Executive Director of Global Treasury, Financial Administration and Strategic Projects provides leadership and direction through managers who are responsible for the financial management of operating and capital budgets for divisions and/or University-wide administrative units. This includes developing forecasting and financial reporting for the University at an aggregate and unit level, including cash forecasting, intrayear operating performance, long-term modeling among a number of other forecasting and financial reporting tools. Create and maintain cash forecasting models in order to more strategically invest short-term cash and borrowing of lines and commercial paper program. Leverage various ERPs and treasury management systems such as Kyriba and other modern tools available will be essential in this role. Accountable for the performance and results of a centralized unit. Gives input and executes sub-function strategy to achieve key University objectives that have a campus-wide effect.
This role is responsible for the strategic management and planning of the University’s treasury/cash operations; overseeing the University’s commercial bank relationships, dynamic receipt and disbursement services, treasury IT systems, monthly reconciliations for select accounts, daily cash positioning and forecasting and general ledger posting. The position works closely with units/schools, centers, departments and business units within the University and banking partners and other vendors to support the University’s treasury/cash management needs and ensure banks are providing the appropriate services and fraud protection. This also includes working with various stakeholders within the University to support the University’s growing international banking activity and also providing consultation and partnering with the University of Chicago Medical Center (UMC) when appropriate.
Additionally, the Executive Director of Global Treasury, Financial Administration and Strategic Projects will be a resource to the University's mortgage program which is a highly valued and critical component of UChicago’s recruiting strategy when it comes to eminent faculty candidates or retaining coveted faculty members.
Responsibilities
Manages the accounts receivable function for the University, including revenue billing and collection.
Manages strategic financial projects, such as large capital projects, auxiliary profitability, strategic financings and other key projects to drive improved financial operating performance.
Oversees the Enterprise Risk Management risk register and business continuity plan for the department and more importantly for the University’s global treasury/cash management, ensuring it is up to date and critical operations are accounted for.
Defines goals for treasury/cash management staff and the department.
Tracks progress of these goals and provides necessary support and guidance to ensure they are accomplished.
Provides recommendations to the Associate Vice President for Finance on the direction of treasury/cash operations/management initiatives at the University, ensuring UChicago stays up-to-date with industry standards and operates efficiently.
Partners with the Associate Vice President for Finance in the leading and development of Analyst Program and Decision Support Committee. These two efforts, but not limited to, will be critical in the professional development of the finance professionals at UChicago and will be a pilot program that will be implemented more widely throughout the University.
Oversees the University’s liquidity and working capital portfolio which includes bank cash balances, short-term investment accounts, lines of credit and commercial paper program (approximately $800 million as of December 2022).
Supervises daily cash positioning to ensure cash is available for University operations. This includes cash allocation in bank accounts and short-term investments.
Supports Associate Vice President for Finance in achieving short-term cash objectives; optimizing returns on cash balances while maintaining daily, weekly and long-term liquidity.
Creates and maintains cash forecasting models in order to more strategically invest short-term cash and borrowing of lines and commercial paper program. Leveraging treasury management system such as Kyriba and other modern tools available will be essential in this role.
Develops reporting package for senior management on the University’s liquidity and key cash management operating metrics, to include daily, weekly, monthly and quarterly reports in order to provide visibility to the University’s liquidity position and assist in forecasting and decision making.
Manages all relationships with financial institutions supporting the University’s cash management operations, including contract review and negotiation.
Focuses on maintaining strategic partnerships with cash management partners across the University.
Opens and maintains University bank accounts, receipt and disbursement services for secure and efficient operations.
Develops, implements and maintains bank account structures. Serves as liaison between banks and third-party cash management vendors, and University units/departments.
Oversees administration for the University’s online banking platforms and Treasury systems (especially UChicago’s current Treasury Management System Kyriba).
Supervise regular, at minimum annual, review of all University bank accounts and services. Ensures all account services are current and unnecessary services are removed; University accounts are set up with proper fraud management services; and supervises monthly review of bank fees.
Resource and partner to stakeholders throughout the University on the system-wide technical aspects of the Payment Card Industry Data Security Standards (PCI DSS) compliance program focusing on maintaining security controls and processes and supporting evaluations of new credit card processing systems and/or other payment methods.
Reviews and approves contracts related to credit card processing and monitoring compliance, such as penetration testing, annual Self-Assessment Questionnaires (SAQs), quarterly scanning and Qualified Security Assessors (QSAs). Heavily involved in handling any PCI concerns, actively playing a part in remediation efforts as needed. It will also be essential for this position to be involved in any and all adherence to compliance efforts such as Gramm-Leach-Bliley Act (GLBA).
Oversees University receivables management ($2+ billion)
Leads and enhances internal processes to drive operational efficiency and ensures compliance with internal policies.
Issues RFPs as needed to evaluate additional solutions to ensure units/schools/centers have access to the most efficient, secure channels for processing revenue (cash/checks/credit cards).
Structures and leads regular governance meetings with units/schools/centers to gain visibility to receivables and collections status across campus.
Assesses the products, services, technologies and systems that are available and appropriate for the Treasury department. Issue RFPs as needed to evaluate these services.
Leads efforts to create and socialize policies and training to those across the University who are touchpoints on receivables and/or revenue receipts.
Resource and partner to those involved in the management of this program and that may include serving as a main point of contact for loan participants and University personnel, working with Deans and Office of General Counsel to originate and close loans as needed.
Oversees the administering of the program, providing monthly reporting file to payroll, and creating monthly journal for University loans.
Provides global cash management support to departments operating internationally.
Facilitates the opening of new global banking relationships and implement services as needed.
Tracks University’s foreign currency accounts and monitors currency risk. Ensures University is processing FX transactions at competitive prices.
Serves as main point of contact for external and internal auditors. Ensures all treasury/cash management audit requests are fulfilled.
Supervises internal audits of cash/receipts on campus and users on University banking systems, internal and external systems.
Ensures compliance with internal controls, policies and procedures. Proposes, creates and updates policies and training materials as needed to be in line with best practices of the industry and ideally be at the forefront.
Manages business continuity plan, ensuring it’s up to date and critical operations are accounted for.
Oversees reconciliation of internal budget accounts used for cash management. Attends regular meeting to review with Accounting and Financial Reporting office.
Oversees the management of operating and capital budgets, information and accounting systems, revenue billing and collection, and the monitoring of expenditures on active accounts.
Establishes budgets for all areas within scope of responsibility. Directs quarterly and year-end reporting for the operating budget.
Performs other related work as needed.
Minimum Qualifications
Education:Minimum requirements include a college or university degree in a related field.
-Work Experience:Minimum requirements include knowledge and skills developed through 10+ years of work experience in a related job discipline.
-Certifications:
-
Preferred Qualifications
Education:
Bachelor's or Master’s degree in a STEM, business, accounting or economics field.
Experience:
10+ years experience in higher education finance, corporate or municipal finance, treasury management, and/or accounting.
Certifications:
CTP certification desirable.
Technical Skills or Knowledge:
Fluency in using Microsoft Office (Excel, PowerPoint, Word), treasury management system (ex: Kyriba, GTreasury, FIS, etc.) and Oracle systems.
Familiarity with GAAP financial statements.
Preferred Competencies
Team-oriented professional who embraces and advocates for diversity, equity, and inclusion (DE&I) as good business practice. DE&I efforts are essential to the culture and fabric of the University of Chicago overall and Financial Services, the department under which this position falls, has fully committed to dedicating resources and efforts to DE&I at all levels of the organization from recruiting and hiring practices to professional development and goal setting for individuals and group.
Interact impactfully with senior leadership and facilitate the professional development of team members, especially new hires and analysts on the team.
Strong quantitative skills and demonstrated understanding of best practices in treasury management and operations for both domestic and international transactions.
Proven attention to detail and desire to continuously learn and improve.
Application Documents
Resume/CV (required)
Cover Letter (required)
References Contact Information (3)(required)
When applying, the document(s) MUST be uploaded via the My Experience page, in the section titled Application Documents of the application.
Job Family
Financial Management
Role Impact
People Manager
FLSA Status
Exempt
Pay Frequency
Monthly
Scheduled Weekly Hours
37.5
Benefits Eligible
Yes
Drug Test Required
No
Health Screen Required
No
Motor Vehicle Record Inquiry Required
No
Posting Statement
The University of Chicago is an
Affirmative Action/Equal Opportunity/Disabled/Veteransand does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender, gender identity, national or ethnic origin, age, status as an individual with a disability, military or veteran status, genetic information, or other protected classes under the law. For additional information please see the
University's Notice of Nondiscrimination.
Staff Job seekers in need of a reasonable accommodation to complete the application process should call 773-702-5800 or submit a request via
Applicant Inquiry Form.
We seek a diverse pool of applicants who wish to join an academic community that places the highest value on rigorous inquiry and encourages a diversity of perspectives, experiences, groups of individuals, and ideas to inform and stimulate intellectual challenge, engagement, and exchange.
All offers of employment are contingent upon a background check that includes a review of conviction history. A conviction does not automatically preclude University employment. Rather, the University considers conviction information on a case-by-case basis and assesses the nature of the offense, the circumstances surrounding it, the proximity in time of the conviction, and its relevance to the position.
The University of Chicago's Annual Security & Fire Safety Report (Report) provides information about University offices and programs that provide safety support, crime and fire statistics, emergency response and communications plans, and other policies and information. The Report can be accessed online at:
http://securityreport.uchicago.edu. Paper copies of the Report are available, upon request, from the University of Chicago Police Department, 850 E. 61st Street, Chicago, IL 60637.
#J-18808-Ljbffr