Treasurer (First Assistant Collector-Treasurer)

Job title: Treasurer (First Assistant Collector-Treasurer)


Job description: Overview:The City of Boston is seeking a dynamic and experienced Treasurer to oversee financial operations and assist in the management of the City’s fiscal affairs. The Treasurer (First Assistant Collector-Treasurer) is responsible for the deposit, investment, and disbursement of municipal funds. This official works with the City’s financial advisors, manages banking services and the issuance of debt, prepares financial reports, and ensures the City complies with all local, state, and federal reporting requirements. The Treasurer also directs the administration of over 350 trust funds.The Treasurer oversees all the functions of the Treasury Division, which consists of many functions including, General Services (Accounts Payable, Retirement, Payroll), Accounting, Community Preservation, Trusts, Revenue Management (Accounts Receivable and Loan Oversight), Alternative Finance, and 403(b) Compliance. The City of Boston’s Treasury Division sits in the Finance Cabinet, reporting to the City’s Chief Financial Officer/Collector-Treasurer. This department works closely with other City departments as well as employees, constituents, and vendors of the City of Boston.The ideal candidate for this role has excellent analytical and problem-solving skills, possesses exceptional communication and interpersonal abilities, has proven leadership and team-building capabilities, and possesses the ability to work effectively in a fast-paced and dynamic environment. This position must maintain a commitment to integrity, transparency, and accountability.Responsibilities:

  • Deposit, Investment, and Disbursement of Municipal Funds
  • Oversee the collection and disbursement of City funds, which includes $4.3 billion in annual revenues and $100 million in average weekly vendor and payroll outflows.
  • Manage all operations related to the City’s cash flow, investments, and debt obligations, which includes $2.8 billion in average daily cash, $1.4 billion in traditional investments, and $400 million annual debt issuance.
  • Manage Relationships with Financial Institutions
  • Act as the City’s principal contact for the national investor community and credit rating agencies.
  • Manage relationships with banking institutions and investment advisors.
  • Represent the City effectively in negotiations and other dealings with financial institutions.
  • Oversee Investment and Operations of Trusts and External Funds
  • Direct the financial, investment, and operational needs of the City’s 350+ trusts.
  • Responsible for oversight and participation with various boards for the Trust section.
  • Manage the administration of the Community Preservation Committee (CPA), which annually awards approximately $40M in grants to affordable housing, open space and recreation, and historic preservation projects.
  • Compliance and Reporting
  • Directs the process of preparing finance reports, tax and IRS payments, while developing financial strategies and procedures.
  • Present financial reports to elected officials, department heads, and other stakeholders.
  • Coordinate with auditors and regulatory agencies to ensure financial transparency and accountability.
  • Departmental Management
  • Oversee the daily operations of the Treasury Division and lead a team of finance professionals to achieve departmental goals and objectives.
  • Supervise a diverse team of over 30 employees, across different sections of the Treasury Division, including: General Services (Accounts Payable, Retirement, Payroll), Accounting, Community Preservation, Trusts, Revenue Management (Accounts Receivable and Loan Oversight), Alternative Finance, and 403(b) Compliance.
  • Oversee budget preparation, hiring, contracting, and personnel management.
  • Strategic Thinking
  • Monitor economic trends and provide strategic financial advice to support decision-making.
  • Act as a key advisor to the Chief Financial Officer/Collector-Treasurer concerning financial matters, fiscal policies and operations.
  • Act as lead liaison to the fraud task force, partnering with City departments, local and federal law enforcement agencies.
  • Continuously evaluate and improve financial processes to enhance efficiency and effectiveness, compliance, and customer service.

Minimum Entrance Qualifications:

  • A master’s degree with a concentration in finance, accounting, business administration, or a closely related field.
  • A minimum of five (5) years of senior management experience in budget, finance, or treasury management (preferably in a governmental or public sector environment) and/or investment banking services.
  • Strong knowledge of tax legislation, federal, state, and local laws and regulations.
  • Ability to plan, direct, manage, and motivate teams.
  • Strong interpersonal skills and ability to establish and maintain effective working relationships with subordinates, peers, superiors, and other internal and external stakeholders.
  • Exceptional communication and presentation skills.
  • Knowledge of municipal finance and municipal government relations is a plus.
  • Certified Public Accountant (CPA) or Certified Treasury Professional (CTP) designation preferred.

This is an in-office position.BOSTON RESIDENCY REQUIREDTerms:Non-Union/Non-GradedHours per week: 35Salary Range: $153,000 – $173,000 Depending On Experience

Expected salary: $153000 – 173000 per year

Location: USA

Job date: Sat, 01 Jun 2024 05:29:11 GMT

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