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Key Responsibilities and Required Skills for a Treasury Assistant

💰 $45,000 - $65,000

FinanceAccountingCorporate Treasury

🎯 Role Definition

The Treasury Assistant is a foundational role within the corporate finance structure, acting as the operational engine of the Treasury department. This position is instrumental in managing the lifeblood of the organization: its cash. The individual in this role ensures the company has the necessary liquidity to meet its daily obligations, mitigates financial risks, and supports strategic financial initiatives. More than just a transactional role, the Treasury Assistant provides critical data and support that informs high-level decisions on cash investment, debt management, and foreign exchange strategy. They are a key liaison between the company and its banking partners, safeguarding assets and ensuring the smooth, efficient, and secure flow of funds.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Accounts Payable or Accounts Receivable Specialist
  • Junior Accountant or Staff Accountant
  • Recent graduate with a degree in Finance/Accounting and relevant internship experience

Advancement To:

  • Treasury Analyst
  • Senior Treasury Analyst
  • Treasury Manager

Lateral Moves:

  • Financial Analyst
  • Corporate Accountant

Core Responsibilities

Primary Functions

  • Prepare and distribute the daily cash position report, providing a clear snapshot of liquidity across all corporate bank accounts and entities.
  • Diligently monitor and manage daily cash balances in various currencies and legal entities to ensure optimal funding levels and operational readiness.
  • Execute daily cash concentration activities, sweeping funds from various accounts to a central account to maximize investment returns and minimize borrowing costs.
  • Initiate, review, and execute domestic and international fund transfers, including wire transfers, ACH payments, and inter-company transfers, ensuring accuracy and proper authorization.
  • Act as a primary point of contact for daily operational inquiries from our relationship banks, fostering strong partnerships and resolving issues promptly.
  • Perform detailed monthly bank reconciliations for all corporate accounts, meticulously investigating and resolving any discrepancies between bank statements and the general ledger.
  • Assist in the preparation of short-term cash flow forecasts by gathering and consolidating data from various business units, including Accounts Payable and Receivable.
  • Administer the corporate credit card and purchasing card programs, including user setup, limit adjustments, and issue resolution.
  • Meticulously analyze monthly bank account analysis statements to identify and dispute erroneous fees, and recommend services to optimize banking costs.
  • Support the management of the company's foreign exchange (FX) exposure by assisting with the execution and settlement of spot and forward contracts.
  • Maintain and organize the database of all global bank accounts, including updating signatories, managing account services, and leading the process for opening or closing accounts.
  • Ensure all treasury activities are executed in strict compliance with internal controls, company policies, and regulatory requirements, including SOX.
  • Assist in the administration of corporate debt facilities, including tracking covenants, processing interest and principal payments, and preparing compliance certificates.

Secondary Functions

  • Support the month-end and quarter-end close processes by preparing necessary journal entries, schedules, and reconciliations related to cash, debt, and investments.
  • Assist with internal and external audit requests by providing timely and accurate documentation, reports, and explanations for treasury-related transactions.
  • Participate in special projects aimed at process improvement, such as the implementation or enhancement of a Treasury Management System (TMS) or new banking technologies.
  • Develop and maintain comprehensive desktop procedures and process documentation for all core treasury functions to ensure business continuity.
  • Provide ad-hoc analysis and reporting for senior finance leadership on topics such as cash trends, bank fee analysis, and investment performance.
  • Collaborate closely with Accounts Payable, Accounts Receivable, and Payroll teams to improve working capital efficiency and forecasting accuracy.
  • Research and resolve payment-related inquiries from internal stakeholders and external vendors, acting as a subject matter expert on payment processing.
  • Monitor outstanding letters of credit and bank guarantees, coordinating with business units and banks to ensure they are managed effectively throughout their lifecycle.

Required Skills & Competencies

Hard Skills (Technical)

  • Cash Management: Deep understanding of daily cash positioning, cash concentration techniques, and bank account structures.
  • Bank Reconciliation: Proven ability to reconcile complex, high-volume bank accounts and resolve discrepancies efficiently.
  • Microsoft Excel Proficiency: Advanced skills are a must, including mastery of Pivot Tables, VLOOKUP/INDEX-MATCH, and complex formulas for data analysis and reporting.
  • Treasury Management Systems (TMS): Hands-on experience with at least one major TMS platform (e.g., Kyriba, SAP Treasury, FIS Integrity).
  • Electronic Payments: Solid knowledge of payment formats and systems, including ACH, Fedwire, and SWIFT.
  • Financial Analysis: Ability to analyze bank fees, understand cash flow drivers, and support basic financial modeling.
  • Accounting Principles: A strong foundational knowledge of accounting principles (GAAP/IFRS) as they relate to cash, debt, and investments.

Soft Skills

  • Extreme Attention to Detail: An unwavering commitment to accuracy is paramount in a role where small errors can have significant financial consequences.
  • Analytical & Problem-Solving Mindset: The ability to logically dissect problems, identify root causes of discrepancies, and develop effective solutions.
  • Exceptional Organization: The capacity to manage multiple competing priorities, meet tight deadlines, and maintain meticulous records.
  • Clear Communication: Ability to communicate complex financial information clearly and concisely, both verbally and in writing, to colleagues and banking partners.
  • Integrity and Discretion: Unquestionable personal integrity and the ability to handle highly sensitive and confidential financial information.
  • Proactive & Resourceful: A self-starter attitude with the initiative to identify opportunities for process improvement without direct instruction.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's degree in a relevant field is strongly preferred. An Associate's degree combined with several years of highly relevant experience may be considered.

Preferred Education:

  • Bachelor’s Degree in Finance, Accounting, or Economics.

Relevant Fields of Study:

  • Finance
  • Accounting
  • Business Administration
  • Economics

Experience Requirements

Typical Experience Range:

  • 1-3 years of direct experience in a corporate treasury, cash management, or related accounting/finance role.
  • Strong entry-level candidates with a relevant degree and significant internship experience in a corporate finance or treasury setting will also be considered.

Preferred:

  • Experience working in a multi-national corporation with exposure to multiple currencies and international banking relationships.
  • CTP (Certified Treasury Professional) designation, or progress toward it, is a significant plus.
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