Department/Unit: Cash Management Services
Work Shift: Day (United States of America)
The Director of Treasury Services and Cash Management plays a key role in effectively managing the cash positions and various treasury functions of the Albany Medical Center, while also serving as a liaison and partner with other financial divisions, such as Financial Reporting, Revenue Cycle and Accounts Payable in order to ensure effective and enhanced financial processes, and ensure accurate reporting and tracking of financial activity. This position also oversees with others the merchant service processes for the organization, assists with facilitating the administration of AMC investment portfolios, and supervises the personnel in the Cash Management Services area.
Salary Range: $129,509.00 - $213,691.00
Education:
- Educational requirements are variable depending on relevant work experience. Work experience is the most important determinant of having the necessary skills and knowledge for this position.
Experience:
- 5-10 years related experience
Skills, Knowledge & Abilities:
- Strong familiarity with AMC financial systems and applications or ability to learn quickly.
- In depth knowledge of cash management processes, including: (a) the effective tracking of receipts and payables to ensure adequate cash funding sources and appropriate cash utilization and reporting, (b) effective utilization of lockboxes and other cash receipt and payment processes, and (c) experience working with cash management systems and the reporting of financial institutions.
- Ability to provide detailed cash forecasts and sensitivity analysis.
- Well versed in merchant service functionality and processes so as to enhance cash receipts.
- Familiar with Revenue Cycle and Accounts Payable processes so as to provide effective support and consulting assistance to these Corporate Finance divisions.
- Familiarity with AMC investment portfolios and investment management structures and administrative requirements, or ability to learn quickly.
- Knowledge of commercial banking services and pricing structures.
- Ability to supervise and train personnel within the Cash Management Services area with knowledge of all needed functions.
- Strategic thinker
- Excellent communication skills – written and oral
Essential Duties & Responsibilities:
- Management of AMC Cash/Liquidity Positions: Responsible for appropriate management of AMC operating accounts. Daily management of cash activities, including monitoring of bank balances, facilitating transfers between accounts, projection of cash needs in disbursement accounts, etc. Attention to maximizing returns through management of account balances. Preparation of reports as needed, including daily and weekly cash balance reports. Daily tracking of AP disbursements and funding from Affiliates of AP spend allotments. Responsible for proper reporting of cash management transactions to Financial Reporting, including month end reconciliations and allocation between entities. Responsible for generating wire transfers between internal accounts and to external payees. Performs cash planning and forecasting, with sensitivity analysis, as needed.
- Supervision of Cash Management Services staff: Supervises and trains Cash Management Services staff relative to all necessary cash management functions and responsibilities.
- Interface with Revenue Cycle and Accounts Payable Teams: Effective support of Revenue Cycle and Accounts Payable Teams. Serves as administrator for various on-line payment applications. Work with Revenue Cycle teams to enhance lockbox processes and automation of payments.
- Administration of Banking and Merchant Services accounts: On-going review of fees and interest rates relative to bank accounts in order to maximize financial benefits for AMC. Manages merchant services relationships and supports IT Department for operation oversight of credit card terminals; reviews fee structure.
- Assistance with Administration of AMC Investment Portfolios: Assists with implementing investment actions as directed by Investment Committee and Investment Advisor. Monitors portfolio balances and subaccounts when necessary to ensure necessary liquidity.
Thank you for your interest in Albany Medical Center!
Albany Medical is an equal opportunity employer.
This role may require access to information considered sensitive to Albany Medical Center, its patients, affiliates, and partners, including but not limited to HIPAA Protected Health Information and other information regulated by Federal and New York State statutes. Workforce members are expected to ensure that:
Access to information is based on a “need to know” and is the minimum necessary to properly perform assigned duties. Use or disclosure shall not exceed the minimum amount of information needed to accomplish an intended purpose. Reasonable efforts, consistent with Albany Med Center policies and standards, shall be made to ensure that information is adequately protected from unauthorized access and modification.
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