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DIR, CORPORATE CASH MANAGEMENT
Job Title: DIR, CORPORATE CASH MANAGEMENT
Job Code: 2641
FLSA: E
Job Level: 59
Revised Date: 05/01/2022
Job Family: JF 28
Occupational Summary
Serves both the university and the Duke University Health System (DUHS) for banking and cash management. Oversees the complex interdependencies of the banking system and depository requirements necessary for efficient management of the cash flow. Establishes and closes domestic and global bank accounts. Assesses cash funding requirements for all bank accounts. Oversees institutional compliance with the USA Patriot Act, Bank Secrecy Act, and FINCEN regulations. Interacts with the banks to identify solutions and/or resolve issues with bank accounts or activity between the university and the banks. Serves as the liaison between the banks and all Duke departments utilizing corporate bank accounts. Supervises the daily activities of Corporate Cash Management (CCM) while working closely with key administrative, accounting, and financial personnel.
Work Performed
Manage the day-to-day cash related activities by monitoring the daily cash position in domestic and global bank accounts including the movement of funds, reporting, forecasting, and problem resolution.
Maintain corporate liquidity goals, balancing the cash outflows with the revenue cycle of the university.
Assist Deputy Treasurer in negotiating bank instruments including letter of credit, standby letters or credit and other bank guarantees.
Manage and coordinate the process of establishing or closing domestic and international bank accounts.
Oversee the complex interdependencies of the banking system and adherence to internal policies and regulatory compliance with FINCEN, USA Patriot Act, NACHA, Bank Secrecy Act, etc. Plan, implement, and direct cash management activities and investment accounting procedures to ensure university records accurately reflect activity.
Coordinate responses and recommend innovative solutions to matters pertaining to global bank accounts or transactions.
Oversee bank service charges to determine appropriateness within the industry and make recommendations to service areas - balancing services with the related bank fees. Recommend appropriate level of bank service fees to the Deputy Treasurer and assist in negotiating those fees with the banks.
Advise and recommend operational changes in bank account structure, in response to organizational or economic changes.
Supervise the armored car vendor relationship for the university and DUHS and serve as primary liaison between the banks and all Duke departments utilizing armored car services. Resolve service issues and ensure adherence to the terms of the contract.
Provide bank fee budget recommendations and information for management, including trend analysis.
Lead initiatives with bank representatives to update banking technology and implement new banking functionality.
Draft, recommend for approval, implement and monitor institutional and divisional policies related to cash; communicate and interpret these policies for other administrators and personnel within the university.
Monitor changes within the banking industry to remain current on the latest information regarding services and fees, particularly in the area of fraud prevention. Communicate and educate others about relevant issues or regulatory changes.
Provide quality service to and foster positive working partnerships with schools, departments, management centers and DUHS management.
Direct the reconciliation of securities, cash positions, cash pools, retirement statements and specific investments at various financial institutions with the university's accounting records.
Serve as subject matter expert for SAP R/3 in all treasury related areas.
Oversee all journal entries, reconciliations, and reports prepared or issued within CCM.
Review and approve tax reporting for loans.
Develop ad hoc management information reports for policy decisions.
Review and approve reports and analysis for external auditors and for use in the preparation of the university and DUHS financial statements.
Supervise personnel functions including, but not limited to, hiring, performance appraisals, and scheduling.
Performs other related duties incidental to the work described herein.
Required Qualifications at this Level
Education/Training
Work requires a Bachelor's degree in Accounting, Finance, Business Administration or a related field. The work to be performed requires a thorough knowledge of accounting, expertise in assessing internal controls, segregation of duties, chain of custody requirements and advanced knowledge of cash management objectives, including global banking.. A certified cash manager (CCM), certified treasury professional (CTP) or certified public accountant (CPA) designation is required.
Experience
Work requires a minimum of 10 years related business or administrative experience to acquire competence in applying general accounting principles, personnel practices and coordination of major administrative functions.
The work to be performed requires the ability to: - communicate effectively - independently evaluate systems and structures - develop and implement procedural changes to satisfy internal control, segregation of duties, and chain of custody requirements - prepare and interpret analyses - identify, analyze, and research financial and banking problems and be able to develop creative solutions - handle multiple tasks or projects simultaneously
Skills
The intent of this job description is to provide a representative and level of the types of duties and responsibilities that will be required of positions given this title and shall not be construed as a declaration of the total of the specific duties and responsibilities of any particular position. Employees may be directed to perform job-related tasks other than those specifically presented in this description.
Duke University is an Affirmative Action/Equal Opportunity Employer committed to providing employment opportunity without regard to an individual's age, color, disability, gender, gender expression, gender identity, genetic information, national origin, race, religion, sex, sexual orientation, or veteran status.
Duke aspires to create a community built on collaboration, innovation, creativity, and belonging. Our collective success depends on the robust exchange of ideas-an exchange that is best when the rich diversity of our perspectives, backgrounds, and experiences flourishes. To achieve this exchange, it is essential that all members of the community feel secure and welcome, that the contributions of all individuals are respected, and that all voices are heard. All members of our community have a responsibility to uphold these values.
Essential Physical Job Functions
Certain jobs at Duke University and Duke University Health System may include essential job functions that require specific physical and/or mental abilities. Additional information and provision for requests for reasonable accommodation will be provided by each hiring department.
