Associate Vice Chancellor for Finance and Treasurer - Financial Services - Office of the Chief Finan
Washington University in St. Louis
Location: St. Louis, Missouri
Internal Number: JR61702
The Office of the Treasurer (OOT) is responsible for the strategic oversight of all University-wide treasury management activities and systems including capital structure and liquidity, and providing treasury services to the WashU community. OOT optimizes and safeguards operating cash across the University, enables payments and the receipt of funds, and manages the Universityâ™s commercial banking partnerships and bank account structures. OOT manages the University's âœinternal bankâ and works closely with University leadership to strategically finance capital projects and real estate transactions to serve WashU for generations to come. Responsible for protecting the Universityâ™s assets through the management of the Insurance & Risk Management functions. Oversees the operations of the Universityâ™s Student and Parent Loan programs. The Treasurer is an Officer of the University.
Primary Duties and Responsibilities
Strategic Financial Leadership and Advisory
The Treasurer provides expert financial insight related to capital projects, strategic initiatives and any other significant uses of capital within the University to CFO and other senior staff. In addition, to presenting capital funding recommendations to the Board of Trustees, makes recommendations to advance the OOT and increase WashUâ™s visibility as a leader in higher education treasury and risk management.
Manage the Universityâ™s capital structure providing for both long-term capital needs and day â“ to â“ day operations. As of Fiscal 2020 (FY20), $2.4 billion in outstanding external debt; future planned capital projects will continue to require external financing. Responsible for all other University financing vehicles including lines of credit, internal borrowings, property leases, and derivative products.Â Conduct negotiations and manage relationships with bond trustees, financing authorities, commercial bankers and investment bankers.Â Develop and present recommendations to the Finance Committee (FC) of the Board of Trustees.
Manage the Universityâ™s credit rating agency relationships, providing both informal and formal presentations to the rating agencies.
Develop internal loan strategies to assist schools and Central Fiscal Unit (CFU) borrowers in managing their debt obligations.Â Manage internal bank loan portfolio to ensure all are current and in good standing.
Banking and Cash Management Â Â Â Â Â Â
Responsible for establishing and managing all banking relationships, provides advice and consultation to internal customers regarding banking services, credit card merchant accounts, the acceptance of funds via ACH/wire and the initiation of foreign exchange wire or draft payments.
Works closely with all Schools and Units to ascertain the need for bank and credit card merchant accounts to ensure any new accounts opened are done so with appropriate scope and authorization.
Oversees compliance with Payment Card Information Data Security Standards (PCI DSS).Â Â
Concentrate and manage Universityâ™s operating cash on a daily basis.Â As of FY20, the Treasurerâ™s Investment Pool (TIP) contains approximately $2.1 billion in operating cash.Â Work closely with the Washington University Investment Management Company (WUIMC) to determine appropriate liquidity levels, asset allocation and investments for TIP. Provide annual TIP update to the WUIMC Board of Directors.
Faculty and Miscellaneous Loan and Risk Management
Work with key faculty and department management to provide relocation loans and manage loan portfolio including guaranty oversight of the School of Medicine external loan program.
Oversee natural gas hedging program and chair of hedge committee.
Partner with Office of Sustainability to review and manage financing strategies for implementing renewable energy sources and projects at the University.
Commercial and Gifts of Real Estate
Provide assistance to Real Estate department for the financing and strategy of University and Commercial off-campus real estate including work to utilize various tax credit and Public Private Partnerships strategies.
Member of real estate committee that oversees the management of all University real estate.Â As University Officer, primary signatory authority for purchases and sales of real estate and leases not involving the school of medicine.
Provide guidance on the acceptability of real estate gifts to the University.Â After acceptance of gift, Treasury works with the real estate and alumni and development departments to oversee the sale of property.
Student and Parent Loan Program Management
Originate and process all Federal Direct, PLUS, private and WU loans for the Danforth Campus and provide assistance to the Medical Schoolâ™s Financial Aid office for their loan programs. Maintain relationships with all graduate and undergraduate aid offices across the University.
Manage Washington Universityâ™s Partners in Education with Parents (PEP) prepayment and loan program. Approximately 1,000 undergraduate students participate in the PEP programs. Program provides a unique financing option for WU families to not only finance their childâ™s education but also provides a feature to freeze 8 semesters of tuition, fees, and room & board.Â
Oversight and management of various internally funded loan programs.Â Work closely with school Deans and Financial Aid Offices and Student Financial Services office to develop innovative financing strategies for our students.
Develop and maintain relationships with loan servicers, guarantee agencies, and banks to insure students have financing options available through Federal and private markets.
Oversees collections efforts for all student and parent loan programs.
Provide financial literacy training for WU students. Presentations for Parents Weekend, Junior Jump Start, and various other student events.
Partner with Olin Library team to sponsor Money Smart Week Events and review financial literacy on-line library guide.
Insurance & Risk Management
Identification and analysis of exposures to University losses in the areas of liability, property, and workersâ™ compensation; coordinates with medical malpractice program administration.Â Determine need and level of insurance coverages to transfer risk. Conduct negotiations and authority to bind for policies to cover this risk with insurance brokers and companies.Â Property coverage for over $6.7 billion in insurable values.Â Workersâ™ compensation covers approximately 17,000 FTEs. Liability values vary by type.
Oversight of claims administration and management (including assistance in litigation) of property, general and auto liability, workersâ™ compensation, crime, floater, fine arts, business travel accident, and other areas.
Active financial leadership participation in University Risk Retention Group (RRG), Workersâ™ Compensation Trust, and group purchase programs.
Work closely with Environmental Health and Safety, Campus Police, Facilities, Campus Emergency Management Coordinator, International Office, on-campus and off-campus housing, and Office of the General Counsel to develop and implement programs designed to minimize accidental losses to University assets, faculty, students, and staff.Â
Present verbally and in written reports the annual update of University insurance programs to the Audit, Risk, and Compliance Committee (ARC) of the Board of Trustees.
Member of Crisis Management Team and Enterprise Risk Management (ERM) Working Group (currently Director of Insurance and Risk Management is performing ERM work)
Commensurate with experience.
Professional designation such as CFA is a plus.
Nonprofit experience highly desirable.
Trustworthy, honest, and highest level of integrity, ethics and personal accountability.
Strong managerial and communication skills.
Ability to work effectively with groups and individuals representing all levels of the University.
Ability to communicate and negotiate effectively both orally and in writing.
Excellent analytical abilities including the demonstrated use of complex financial models and analysis.Â Thorough understanding of financial instruments and capital markets including not only the financial analysis but documentation required.
Adept in development of performance measures and metrics to explain complex situations and inform decision-making. Ability to simplify and communicate complex financial concepts to nontechnical audiences/stakeholders.
Creative approaches to understanding broad strategic issues as well as the tactical approaches to implementation.Â
Ability to continuously re-examine and improve all aspects of treasury and insurance programs implementing a best practices approach.
Strong operations and process improvement skills. Ability to create efficiencies and streamline business processes.
Knowledgeable in a broad range of financial and risk management areas including investment management, cash and debt management, cybersecurity, insurance, real estate financing, banking laws and regulations.
Experience working successfully with and presenting to Senior leaders including the Board of Trustees or Board of Directors.
Inquisitive and detail oriented with the ability to see the big picture.
Experience serving in a large, research university or similar nonprofit organization preferred.
Inspirational management style that fosters an inclusive, collegial environment. ProactivelyÂ coaches, mentors, and develops staff.
Masterâ™s degree in finance, business administration or related field required, plus 10 years of strategic enterprise-level experience in sophisticated financial, treasury and risk management at a large, complex organization; or Bachelorâ™s degree in finance, business administration or related field, plus 15 years of strategic enterprise-level leadership experience at a large, complex organization.
All external candidates receiving an offer for employment will be required to submit to pre-employment screening for this position. The screenings will include criminal background check and, as applicable for the position, other background checks, drug screen, an employment and education or licensure/certification verification, physical examination, certain vaccinations and/or governmental registry checks. All offers are contingent upon successful completion of required screening.
Washington University in St. Louis is committed to providing a comprehensive and competitive benefits package to our employees. Benefits eligibility is subject to employment status, full-time equivalent (FTE) workload, and weekly standard hours. Please visit our website at https://hr.wustl.edu/benefits/ to view a summary of benefits.
Washington University is an equal opportunity and affirmative action employer. All qualified applicants will receive consideration without regard to an individualâ™s sex, race, color, religion, age, disability status, protected veteran status, national or ethnic origin, gender identity or expression, sexual orientation. Women, minorities, protected veterans and the disabled are strongly encouraged to apply.
Washington University is dedicated to building a diverse community of individuals who are committed to contributing to an inclusive environment â“ fostering respect for all and welcoming individuals from diverse backgrounds, experiences and perspectives. Individuals with a commitment to these values are encouraged to apply.
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Washington University in St. Louis, a medium-sized, independent university, is dedicated to challenging its faculty and students alike to seek new knowledge and greater understanding of an ever-changing, multicultural world. The University offers more than 90 programs and almost 1,500 courses leading to bachelor's, master's and doctoral degrees in a broad spectrum of traditional and interdisciplinary fields, with additional opportunities for minor concentrations and individualized programs. The faculty is composed of scholars, scientists, artists and members of the learned professions. They serve society by teaching; by adding to the store of human art, creativity, understanding, and wisdom; and by providing direct services, such as health care.