Assistant Treasurer jobs in Richmond, VA

VCU's Treasury Services Department has an exciting opportunity for a Treasurer to join our team!

All full-time university staff are eligible for VCU’s robust benefits package that includes: comprehensive health benefits, paid annual and holiday leave granted up front, retirement planning and savings options, tax-deferred annuity and cash match programs, generous tuition benefit, employee discounts, well-being resources, abundant opportunities for career development and advancement, and more. Learn more about VCU’s benefits: https://hr.vcu.edu/current-employees/benefits/a-z-list-of-benefits/. 

The Opportunity and team

Reporting to the Associate Vice President for Budget and Treasury, the Treasurer manages the Treasury Services team (a team of approximately 20) and holds the position of treasurer of the university. The Treasury Services team is responsible for cash management, debt management, investment management, banking operations, cashiering, electronic and paper check disbursements, and selected collections activities of the university.

About the Role

The Treasurer is responsible for the management of financial operations and will work extensively with bond counsel, university counsel, financial advisors, bankers, rating agencies, investment advisors and managers, auditors, donors, and senior leadership. The Treasurer serves as the leader for the planning, issuance, and administration of all debt financings and similar capital funding methods for the university and related foundations, as well as for the planning and administration of the university’s investments and investment management processes. 

Key Responsibilities

The Treasurer will lead the Treasury Services Department and as such will: 

• Manage a $430 million working capital cash/fixed income portfolio plus an approximately $125 million quasi endowment portfolio in accordance with applicable laws and regulations.
• Manage an approximately $410 million outstanding debt portfolio and the future issuance of all university and affiliated foundation debt as well as works with internal and external counsel and financial advisors to prepare and review debt issuance documents such as financing plans, board resolutions, official statements, bond tax certificates, draw schedules, sizing schedules and other documents related to the issuance of debt.
• Manage and administer the university’s central bank, including the preparation of internal financial statements, management reports, internal accounting processes, appropriate policies and procedures, the management of associated external investments, the execution of new internal promissory notes, the management of the central bank financial forecasting model, etc.
• Manage, create, and update the university’s debt capacity and capital budget projection model and related debt management systems. Treasury Services uses Synario financial modeling software for this purpose, working with the Office of Budget and Resource Analysis to continuously maintain and update this model.
• Manage the university’s treasury operations team including the university’s cashiering, check disbursement, ACH/wire disbursement, PCI compliance, petty cash, and collections operations.
• Manage the university’s external operating bank account(s) and associated banking relationship(s) and contract(s) as well as maintain strong internal and external controls over cash receipts, disbursements, ACH/wire/electronic transactions, and petty cash.
• Work with VCU’s internal endowment investment management company (VCIMCO) to make strategic decisions and recommendations to the Board of Visitors and senior leadership associated with investments, investment policies, asset allocations, central bank modeling and analysis, donor-restricted endowments, quasi endowments, etc.
• Work in concert with the university’s financial advisor to develop long-range debt and capital plans to manage the university’s credit ratings, cash, debt and liquidity resources.

Required Qualifications

• Advanced knowledge of treasury, financial principles and financial operations.
• A Master’s degree in accounting, finance, business, or other related field. A bachelor’s degree may be acceptable if combined with significant professional experience.
• At least ten years of progressively responsible treasury management experience, preferably in a large, complex institution of higher education and/or experience at a Virginia public institution.
• Keen leadership and supervisory skills; progressive managerial experience in higher education or a similar industry focused on debt and investment management as well as customer service.
• Demonstrated experience related to the principals, practices, policies, and laws related to the management of public fund investments, institutional endowment investments, investment policy statements, the Virginia Investment of Public Funds Act, the Virginia Security for Public Deposits Act, the Virginia Uniform Prudent Management of Institutional Funds Act, and/or similar policies and state regulations.
• Demonstrated transactional experience in public finance, including capital market bond transactions, public-private partnership transactions, bank financings, commercial paper, derivative products, and similar credit products.
• Strong understanding of capital markets and business fundamentals with an understanding of financial and accounting practices pertaining to governmental and not-for-profit organizations and generally accepted accounting principles.
• Demonstrated experience managing a central bank comprised of the university’s external borrowings, internal loans receivable, and associated investment assets.
• Demonstrated experience in managing compliance systems related to federal tax regulations for tax-exempt bonds, private use, arbitrage rebate, 15c2-12 continuing disclosure, and other post-issuance compliance matters.
• Demonstrated experience reviewing and understanding legal agreements related to debt issuance, investments, and similar transactions, working with bond/legal counsel to draft transactional documents.
• Ability to analyze, evaluate and interpret complex financial data and draw sound conclusions.
• Strong analytical, critical thinking, and decision making skills.
• Excellent verbal, written and interpersonal skills.
• Ability to plan, direct and manage projects; managing multiple tasks simultaneously to meet deadlines.
• Must have demonstrated experience working in and fostering a diverse faculty, staff and student environment or commitment to do so as a staff member at VCU.

Preferred Qualifications

• Experience in a large, complex institution of higher education and/or experience at a Virginia public institution.

Application instructions

This position will be posted until filled, however for priority consideration please apply by March 26th, 2024. Candidates should complete the basic personal and demographic application through the VCU job website. Candidates should provide a resume, cover letter, a diversity statement*, and the names and contact information of three references. References will not be contacted without prior knowledge and approval of candidates. All nominations and applications shall be confidential until finalists are named. Application materials should be submitted to the VCU Jobs portal.

As a preeminent national, urban, public research university and academic health center, Virginia Commonwealth University is committed to organizational diversity, equity and inclusion - an environment where all can thrive in their pursuit of excellence. Applicants are requested to submit a Statement of Contributions to Diversity, Equity, and Inclusion (typically between 150-300 words) providing their career aspirations and contributions toward promoting diversity, equity, and inclusion. Through this statement, you can share how your lived experiences; and past, present, and future academic and professional activities have or will contribute to VCU’s mission of promoting equity and inclusion.

Note: Examples include working with others to further the goals of equity and inclusion; leading in any capacity that tangibly promotes an environment where diversity is welcomed, fostered, and celebrated; creative activity, research and scholarship that promotes equity and parity; teaching and mentoring students, and/or engaging with faculty and/or staff from traditionally underrepresented groups to create a positive and successful organizational experience. 

Requests for information and all written nominations and applications should be directed to:
Tanya-Lee Giscombe (tlsgiscombe@vcu.edu)

Virginia Commonwealth University is an equal opportunity/affirmative action university providing access to education and employment without regard to race, color, religion, national or ethnic origin, age, sex (including pregnancy), political affiliation, veteran status, genetic information, sexual orientation, gender identity, gender expression or disability. Women, minorities, veterans, and persons with disabilities are encouraged to apply. 

Salary Range: Commensurate with experience

Position Details:

Department: Treasury Services
Employment Type: 
Restricted Status: 
FTE: 100
Exemption Status: Exempt