Location: Chicago, IL
Job Description:
- 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 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.
- 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.
- 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 to strategically invest short-term cash and manage borrowing of lines and commercial paper program.
- Develops reporting package 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.
- 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.
- Oversees administration for the University’s online banking platforms and Treasury systems.
- Supervises regular, at minimum annual, review of all University bank accounts and services.
- 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.
- Reviews and approves contracts related to credit card processing and monitoring compliance.
- 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 for processing revenue.
- 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 available for the Treasury department.
- Leads efforts to create and socialize policies and training for those across the University who are involved in receivables and/or revenue receipts.
- Oversees the administering of the program, providing monthly reporting file to payroll.
- 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.
- Serves as main point of contact for external and internal auditors.
- Supervises internal audits of cash/receipts on campus and users on University banking systems.
- Ensures compliance with internal controls, policies and procedures.
- 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.
- Oversees the management of operating and capital budgets, information and accounting systems, revenue billing and collection, and monitoring of expenditures.
- Establishes budgets for all areas within scope of responsibility.
- Performs other related work as needed.
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 systems and Oracle systems.
- Familiarity with GAAP financial statements.
Preferred Competencies
- Team-oriented professional who embraces and advocates for diversity, equity, and inclusion (DE&I).
- Interact impactfully with senior leadership and facilitate the professional development of team members.
- Strong quantitative skills and understanding of best practices in treasury management and operations.
- Proven attention to detail and desire to continuously learn and improve.
Application Documents
- Resume/CV (required)
- Cover Letter (required)
- References Contact Information (3)(required)
The University of Chicago is an Affirmative Action/Equal Opportunity/Disabled/Veterans Employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national or ethnic origin, age, status as an individual with a disability, protected veteran status, genetic information, or other protected classes under the law.
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