State of Wyoming - Cheyenne, WY
posted about 2 months ago
The Chief Financial Officer (CFO) of the Wyoming Stable Token Commission will play a pivotal role in overseeing the financial operations of the agency. This position entails managing the agency's operating budget, conducting budget-to-actual analyses, and generating financial projections based on the demand for Wyoming Stable Tokens (WYST) and prevailing interest rates. The CFO will also be responsible for implementing and monitoring internal controls, managing reserves, conducting audits, and consolidating the agency's financials into the state's Annual Comprehensive Financial Report. Compliance with relevant domestic regulations, including GASB, is essential in all financial operations. The CFO will report directly to the Executive Director and will have a direct line of communication with the Commission, ensuring that all financial strategies align with the agency's goals and public goods objectives. In addition to the core responsibilities, the CFO will develop the Commission's financial strategy, which includes long-term financial planning, investment strategies, and risk management. This involves analyzing market trends, identifying financial risks and opportunities related to the stablecoin market, and ensuring that the financial strategy is in line with the Commission's objectives. The CFO will also be tasked with identifying and managing financial risks associated with the issuance and management of WYST, including liquidity, credit, operational, and market risks. Coordination with the State Treasurer's Office and external investment managers will be necessary to review the portfolio of financial instruments backing the Wyoming Stable Tokens. The CFO will perform regular assessments of liquidity needs based on WYST redemption trends, ensuring that there is sufficient cash available to meet redemption requests while optimizing returns on reserve assets. Internal reporting will be a critical function, with the CFO providing regular updates to the Executive Director, Commission, and other legislative bodies on financial matters, including budget status, burn rates, revenues, and projections. Additionally, the CFO will track Commission expenses, facilitate fund disbursements, and perform monthly reconciliations, all while staying informed of emerging trends and best practices in stable token technologies to guide the Commission's strategies and activities.