The University of Michigan seeks an experienced, collaborative, and innovative individual with strong financial and positive leadership skills for the position of Treasurer. Reporting directly to the Associate Vice-President for Finance (AVPF), this position is a key member of the Finance leadership team and works with the Executive Vice President and Chief Financial Officer (EVPCFO) and key stakeholders on capital and debt planning.
The Treasurer leads a staff of approximately 25 employees and fills a highly visible role within the university community, including presentations and recommendations to the Board of Regents and executive leadership. In addition to financial expertise, successful candidates for the Treasurer’s role will also possess strong leadership skills, including the ability to:
Demonstrate strategic planning and decision-making, cross-functional leadership, and outstanding communication and transparency
Exemplify the principles of positive leadership: managing results for positive performance (and doing so through high quality connections), regularly connecting the work of the department to the mission of the institution, and promoting staff engagement
Champion the goals of diversity, equity and inclusion
Foster the use of new technology in support of Treasury operations and services
Maintain exceptional discretion in handling sensitive and confidential information
With the goal of supporting the university’s academic, research and healthcare missions, key responsibilities of the Treasurer’s Office include the following:
Maintaining strategic banking relationships and providing expertise in banking services (cash management, treasury services, etc.)
Determining the university’s daily cash position and planning for the university’s liquidity needs
Managing depository services, including remote deposit capture, deposit stations on the Ann Arbor campus, lock boxes, and incoming wire transfers
Managing disbursement services, including vendor check writing, wire transfers, ACH payments, and international foreign exchange payments
Establishing university bank accounts while ensuring effective security, controls, and compliance on all bank accounts and transactions
Managing deployment of ATMs throughout the academic campuses and health system
Capital Budgeting and Financing
Maintaining strategic relationships with commercial and investment banks for debt and financing needs
Participating in strategic capital project planning in conjunction with the EVPCFO, the Provost’s Office, Facilities & Operations, and other university teams
Managing the university’s debt portfolio, including payments for debt service and related derivative instruments, commercial paper, and lines of credit
Determining the timing, structure and type of debt issuance, and debt refinancing in accordance with the university’s capital and liquidity needs
Overseeing the university’s relationships with the bond rating agencies
Preparing and delivering presentations for the Regents and rating agencies
Maintaining compliance with IRS regulations related to tax-exempt financing
Managing, through central guidance and support, the secure acceptance of credit card payments by university merchants
Overseeing the University’s compliance efforts with the Payment Card Industry Data Security Standard (PCI DSS)
Managing the Program for the Mcard, the university’s official identification card and the sponsoring bank relationship
Human Subject Incentive Program (HSIP)
Managing the HSIP program, which provides university-wide support for payments to participants of research studies and compliance with related regulations
Proven success leading a department following the principles of positive leadership
Proven success coaching and developing staff, and building a diverse and inclusive team
Bachelor’s degree in Business, Finance/Accounting, Economics, or related field
Seven to ten years of progressive experience in financial leadership roles
Experience building complex financial models to evaluate various financial plans
Strong familiarity with best practices in the area of cash management and forecasting, working capital/liquidity management, bond finance, and debt policy development
Excellent written and verbal communication skills, with the ability to deliver presentations to a variety of audiences across the university community
Strong interpersonal skills and demonstrated ability to solve problems utilizing collaboration and creativity
Ability to create and maintain an engaging, collaborative, and performance-focused work environment and help guide career paths of employees
Proven ability to coach and develop leadership team to build bench strength and leadership succession
Demonstrated ability to collaborate and build effective working relationships with other finance sub-teams and across campus
Demonstrated respect for the value of each person’s contributions to the team as well as a demonstrated commitment to enhancing diversity and inclusion.
Master’s degree in Business Administration
Certified Treasury Professional (CTP)
Financial leadership and municipal bond experience in higher education or public sector
Experience working with academic medical centers and health care finance
About the University of Michigan:
Governed by a publicly elected Board of Regents, the University of Michigan is a world-class public research university that is comprised of three campuses (Ann Arbor, Dearborn, and Flint) and a premier, highly ranked academic medical center and award-winning health care system. The essence of the university is the academic diversity of our schools and colleges and the degree of interdisciplinary cooperation among them.
The university has an annual operating budget of over $9 billion, cash and investments of over $15 billion, and outstanding bond indebtedness of over $3 billion.The University of Michigan is one of only a handful of public universities that carry both the highest Aaa (Moody’s) and AAA (S&P) long-term bond ratings.
The Finance Division is led by the AVPF, who reports directly to the EVPCFO. Finance partners with the University community to provide the financial infrastructure essential to supporting one of the world’s great public universities. The Finance organization is comprised of several units, including Treasurer’s Office, Office of Controller and Financial Operations, Financial Analysis, Procurement Services, Sponsored Programs and Tax Policy and Compliance. While maintaining several distinct departments, Finance shares a common set of values and goals. For more information about the Finance Division, please go to www.finance.umich.edu.
The University of Michigan offers an extensive total compensation package including competitive pay, two-for-one retirement matching contribution, a variety of health insurance options, and a generous vacation plan. In addition, there are seven paid holidays and four paid season days.