The following article discusses the career path of Treasury Manager. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Treasury Managers.
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Treasury Manager Job Duties
Treasury managers are responsible for the financial assets of the company. They ensure that the right financial decisions are made and that the cash on hand is used in the right way. This includes placing a focus on any borrowed money. Furthermore, they make recommendations in relation to financial strategies that the company can employ to reach its goals. Mainly, they aim to make sure the company is financially stable and solvent.
They are also responsible for ensuring that the company is compliant with credits, help to finance debt, and monitor and analyze reports on debt and bonds. They also have to make sure that all regulatory and corporate rules and regulations are adhered to, something they must also report on.
They also have to have a very strong financial understanding. They know about capital investment strategies and banking initiatives. They have to make complex decisions in relation to finances, for which they should use risk management and other data. They must have excellent communication skills, therefore, while also being able to use financial models in order to analyze different possible scenarios.
Other job duties of a treasury manager are:
- To be a mentor for junior analysts and to make sure team members have all their work managed
- To be responsible for the banking of the company, determining which services are needed, and to look over account statements
- To be responsible for the cash management strategy of the organization, preparing cash forecasting models
- To conduct financial forecasts and analyses to ensure the business can make the right investment decisions
- To communicate with legal staff and accounting to ensure the business is compliant with accounting policies and reporting procedures
Where Treasury Manager’s Work
According to the U.S. Bureau of Labor Statistics, there were 296,100 financial analysts in 2016. The largest employers of these professionals were:
- Securities, commodity contracts, and other financial investments and related activities: 24%
- Professional, scientific, and technical services: 14%
- Credit intermediation and related activities: 13%
- Management of companies and enterprises: 12%
- Insurance carriers and related activities: 7%
How to Become a Treasury Manager
Treasury managers are usually expected to have a bachelor’s degree in business, economics, finance, accounting, or related field. They should also have experience in finance fields and financial planning. Furthermore, they must be highly computer literate. Although not required, many treasury managers complete the master of business administration (MBA) and register as Certified Public Accountant (CPA).
Treasury Manager Education Requirements
A bachelor’s degree is generally the minimum requirement. While a bachelor’s in finance is recommended, fields such as mathematics, statistics, economics, and accounting are also suitable. Licenses and certifications are also available and sometimes required by employers.
The main licensing body for the securities industry is the Financial Industry Regulatory Authority (FINRA). If a treasury manager wishes to sell financial products, they will need to be licensed. To receive this license, employer sponsorship is required. This means that a manager is not expected to already be licensed when they start a job.
Certification is not required but can be recommended depending on the position. The Chartered Financial Analyst (CFA), offered by the CFA Institute, is very popular. To obtain CFA certification, a treasury analyst must hold a bachelor’s degree, have four years of relevant professional experience, and pass three different examinations. They can also obtain further certification in specialty fields. Doing so will also greatly improve their advancement prospects.
Treasury Manager Traits & Qualities
The most effective treasury managers have the following traits to some degree or other:
- Excellent analytical skills
- Great communication skills, both verbal and written, particularly in relation to report writing and holding presentations
- Computer skills, focusing also on financial analysis software
- Strong decision making skills
- Detail oriented
- Excellent mathematical skills
Treasury Manager Minimum Education
Bachelor’s Degree
The national average salary estimate for Treasury Manager was $94,000. This number is estimated from over 228,724 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $48.96 and monthly of $7,833.
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$31,000
$191,000
The following section lists Treasury Manager salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, Mississippi had the largest quoted salary of $125,000 while DC had the smallest quoted salary of $57,039.
According to Indeed.com, the following states had employers looking to hire a Treasury Manager. The quoted salary figure represents the average salary from all job postings by this employer.
| Employer Name | Location | Average Salary |
|---|---|---|
| Selby Jennings | New York | $163,572 |
| JCJ, LLC | Illinois | $146,170 |
| Green Key Resources | New York | $134,313 |
| WALL STREET OPTIONS | New York | $131,330 |
| JAS Recruitment | New York | $128,270 |
| GSP International | New Jersey | $127,848 |
| Robert Half Finance & Accounting | Minnesota | $126,892 |
| Talent Equity Group | Mississippi | $125,000 |
| Katch, LLC | Texas | $120,000 |
| KBW Financial | Massachusetts | $118,013 |
| Randstad Professionals | Arizona | $115,472 |
| Michael Page | California | $114,803 |
| CyberCoders | Illinois | $114,034 |
| Aspire | Pennsylvania | $111,163 |
| Parker+Lynch | New Jersey | $110,026 |
Treasury Manager Learn More
- Treasury management – Wikipedia
- Full Job Description: Treasury Manager – ptma.org
- Treasury management specialist – Bureau of Labor Statistics
| Career Name | Average Salary |
|---|---|
| Director of Security | $99,822 |
| Operations Officer | $96,045 |
| Director of Nursing | $95,821 |
| Disaster Recovery Manager | $94,956 |
| Network Manager | $94,442 |
| Data Manager | $93,937 |
| Transportation Manager | $93,639 |
| Director of Human Resources | $93,347 |
| Compensation Manager | $93,104 |
| Director of Operations | $90,674 |
