Executive Director, Global Treasury, Financial Administration and Strategic Projects

University of Chicago - Chicago, IL

Full-time - Executive

Chicago, IL

Educational Services

About the position

The Executive Director of Global Treasury, Financial Administration and Strategic Projects at the University of Chicago plays a pivotal role in overseeing the financial management of operating and capital budgets across various divisions and administrative units. This position is responsible for developing comprehensive forecasting and financial reporting mechanisms that encompass cash forecasting, intra-year operating performance, and long-term modeling. The Executive Director will create and maintain cash forecasting models to strategically invest short-term cash and manage borrowing through lines of credit and commercial paper programs. Utilizing various ERPs and treasury management systems, such as Kyriba, is essential for success in this role. The Executive Director is accountable for the performance and results of a centralized unit and will contribute to the execution of sub-function strategies that align with the University’s key objectives, impacting the campus as a whole. In addition to managing the University’s treasury and cash operations, the Executive Director will oversee commercial bank relationships, dynamic receipt and disbursement services, treasury IT systems, and ensure accurate monthly reconciliations for select accounts. This role requires close collaboration with various units, departments, and banking partners to support the University’s treasury needs and ensure the provision of appropriate services and fraud protection. The Executive Director will also be a key resource for the University’s mortgage program, which is critical for attracting and retaining top faculty candidates. The responsibilities of this position extend to managing the accounts receivable function, strategic financial projects, and the Enterprise Risk Management risk register. The Executive Director will define departmental goals, track progress, and provide guidance to ensure objectives are met. Recommendations will be made to the Associate Vice President for Finance regarding treasury operations, ensuring that the University remains aligned with industry standards. Furthermore, the Executive Director will oversee the University’s liquidity and working capital portfolio, which includes significant cash balances and short-term investments, while supervising daily cash positioning to ensure operational availability. This role also involves developing reporting packages for senior management, managing relationships with financial institutions, and ensuring compliance with internal controls and policies.

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 the University's global treasury/cash management.
• 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.
• Partners with the Associate Vice President for Finance in leading and developing the Analyst Program and Decision Support Committee.
• Oversees the University's liquidity and working capital portfolio, including bank cash balances, short-term investment accounts, lines of credit and commercial paper program.
• Supervises daily cash positioning to ensure cash is available for University operations.
• Supports Associate Vice President for Finance in achieving short-term cash objectives; optimizing returns on cash balances while maintaining liquidity.
• Creates and maintains cash forecasting models for strategic investment of short-term cash and borrowing.
• Develops reporting packages for senior management on the University's liquidity and key cash management operating metrics.
• Manages all relationships with financial institutions supporting the University's cash management operations.
• Maintains strategic partnerships with cash management partners across the University.
• Opens and maintains University bank accounts, receipt and disbursement services for secure operations.
• Develops, implements and maintains bank account structures and serves as liaison between banks and third-party cash management vendors.
• Oversees administration for the University's online banking platforms and Treasury systems.
• Supervises regular reviews of all University bank accounts and services.
• Acts as a resource and partner to stakeholders on PCI DSS compliance program.
• Reviews and approves contracts related to credit card processing and monitoring compliance.
• Oversees University receivables management.
• Leads and enhances internal processes to drive operational efficiency and compliance with internal policies.
• Issues RFPs to evaluate additional solutions for processing revenue.
• Structures and leads regular governance meetings with units/schools/centers to gain visibility to receivables and collections status.
• Assesses products, services, technologies and systems appropriate for the Treasury department.
• Leads efforts to create and socialize policies and training for receivables and revenue receipts management.
• Oversees the administering of the mortgage program and provides monthly reporting to payroll.
• Provides global cash management support to departments operating internationally.
• Facilitates the opening of new global banking relationships and implements services as needed.
• Tracks University's foreign currency accounts and monitors currency risk.
• Serves as main point of contact for external and internal auditors.
• Ensures compliance with internal controls, policies and procedures.
• Manages business continuity plan and oversees reconciliation of internal budget accounts.

Requirements

• Minimum requirements include a college or university degree in a related field.
• Minimum requirements include knowledge and skills developed through 10+ years of work experience in a related job discipline.

Nice-to-haves

• Bachelor's or Master's degree in a STEM, business, accounting or economics field.
• 10+ years experience in higher education finance, corporate or municipal finance, treasury management, and/or accounting.
• CTP certification desirable.
• Fluency in using Microsoft Office (Excel, PowerPoint, Word), treasury management systems (e.g., Kyriba, GTreasury, FIS) and Oracle systems.
• Familiarity with GAAP financial statements.

Benefits

• Health insurance coverage
• Dental insurance coverage
• Vision insurance coverage
• 401k benefit for retirement savings plan
• 401(k) matching benefit
• Paid holidays
• Flexible scheduling options
• Professional development opportunities
• Tuition reimbursement
• Employee discount programs