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Director, Treasury

The position is newly created with a highly acquisitive PE backed healthcare organization.

Responsible for the oversight of cash management platform and Treasury operations.

• Designs and implements best practices in treasury processes to support the growth of the company.
• Responsible for the determination of cash requirements, cash concentration, short-term cash investments and maintenance of appropriate cash flow. Establishes short-term borrowing needs and recommends short-term investing initiatives.
• Manages activities surrounding cash reporting and cash management planning
• Responsible for the planning and execution of day-to-day and period-end Treasury activities including managing the company’s cash flow forecast, identifying cost-saving and profit maximizing opportunities and ensuring compliance with audit standards to maximize the protection of cash assets.
• Oversees the management of cash for PCs and manages all related banking needs

Primary functions and key responsibilities:

1. Create and build out treasury management system to maximize cash flow between PC and MSO levels while maintaining compliance with Corporate Practice of Medicine and other legal, tax and regulatory requirements. Implement system across entities and future acquisitions.
2. Establish and forecast cash flow positions/targets at both PC and MSO levels, including related borrowing needs and funds available for investment. Develop and maintain supportive modeling and reporting capabilities (e.g. 13-week cash flow projections, etc.)
3. Perform daily cash positioning activities including managing daily liquidity, cash position reconciliation and bank reporting
4. Ensure sufficient funds are available at the PC and MSO levels to meet ongoing operational and capital investment requirements
5. Investigate all bank account balances for potential unusual items, and drive execution plans to resolve potential variances and discrepancies
6. Advise management on the liquidity aspects of its short- and long-range planning
7. Manage excess operating cash to obtain optimum interest revenue
8. Support the physician compensation calculation process and manage treasury related components of the process
9. Develop reporting package for executive team and the Board of Directors on company’s liquidity and key cash management operating metrics. Develop treasury reporting dashboards appropriate for various stakeholders and track KPIs.
10. Develop, monitor and enforce strong internal controls and financial management policies and procedures that impose an adequate level of control over all treasury related activities at both the PC and MSO levels
11. Partner with Accounting to clearly define roles, responsibilities and associated workplans for future debt servicing obligations. Prepare necessary paperwork for debt obligations with Accounting, as required.
12. Manage and maintain strong relationships with all banking and financial service partners. Act as the treasury liaison for PCs in setting up new banking accounts, services, and handling bank inquiries and related matters. Monitor banking partner performance and treasury service agreements
13. Support corporate accounting, AP, Payroll and other functions as they relate to Treasury transactions and structures
14. Drive all treasury related activities in future M&A and PC integration exercises. Work with the integrations team to proactively plan, timely and efficient treasury process integration of new practices
15. Review and analyze banking and cash management expenses to identify cost reductions
16. Work with the CFO and corporate reporting team to assist with prospective covenant modeling to ensure leverage ratios and debt service ratios are projected to comply with company and lender requirements

Qualifications:

• Bachelor’s degree in finance, accounting or business required
• MBA or advanced degree in finance required.
• CTP required. CPA, CFA certifications a plus.
• 10+ years of experience in finance and treasury operations with a track record of increased responsibilities
• Previous experience standing up a treasury management system preferred, ideally in an MSO/physician setting
• Strong knowledge of financial instruments, credit facilities and treasury best practices
• Strong knowledge of forecasting, budgeting and related GAAP accounting rules
• Strong leadership skills and the ability to collaborate
• Detail, deadline and goal-oriented
• Ability to drive results in a fast-paced/deadline-oriented environment
• Strong analytical and financial modeling skills
• Problem-solving and organizational skills
• Strong verbal, written and interpersonal communication skills

Director, Treasury

The position is newly created with a highly acquisitive PE backed healthcare organization.

Responsible for the oversight of cash management platform and Treasury operations.

• Designs and implements best practices in treasury processes to support the growth of the company.
• Responsible for the determination of cash requirements, cash concentration, short-term cash investments and maintenance of appropriate cash flow. Establishes short-term borrowing needs and recommends short-term investing initiatives.
• Manages activities surrounding cash reporting and cash management planning
• Responsible for the planning and execution of day-to-day and period-end Treasury activities including managing the company’s cash flow forecast, identifying cost-saving and profit maximizing opportunities and ensuring compliance with audit standards to maximize the protection of cash assets.
• Oversees the management of cash for PCs and manages all related banking needs

Primary functions and key responsibilities:

1. Create and build out treasury management system to maximize cash flow between PC and MSO levels while maintaining compliance with Corporate Practice of Medicine and other legal, tax and regulatory requirements. Implement system across entities and future acquisitions.
2. Establish and forecast cash flow positions/targets at both PC and MSO levels, including related borrowing needs and funds available for investment. Develop and maintain supportive modeling and reporting capabilities (e.g. 13-week cash flow projections, etc.)
3. Perform daily cash positioning activities including managing daily liquidity, cash position reconciliation and bank reporting
4. Ensure sufficient funds are available at the PC and MSO levels to meet ongoing operational and capital investment requirements
5. Investigate all bank account balances for potential unusual items, and drive execution plans to resolve potential variances and discrepancies
6. Advise management on the liquidity aspects of its short- and long-range planning
7. Manage excess operating cash to obtain optimum interest revenue
8. Support the physician compensation calculation process and manage treasury related components of the process
9. Develop reporting package for executive team and the Board of Directors on company’s liquidity and key cash management operating metrics. Develop treasury reporting dashboards appropriate for various stakeholders and track KPIs.
10. Develop, monitor and enforce strong internal controls and financial management policies and procedures that impose an adequate level of control over all treasury related activities at both the PC and MSO levels
11. Partner with Accounting to clearly define roles, responsibilities and associated workplans for future debt servicing obligations. Prepare necessary paperwork for debt obligations with Accounting, as required.
12. Manage and maintain strong relationships with all banking and financial service partners. Act as the treasury liaison for PCs in setting up new banking accounts, services, and handling bank inquiries and related matters. Monitor banking partner performance and treasury service agreements
13. Support corporate accounting, AP, Payroll and other functions as they relate to Treasury transactions and structures
14. Drive all treasury related activities in future M&A and PC integration exercises. Work with the integrations team to proactively plan, timely and efficient treasury process integration of new practices
15. Review and analyze banking and cash management expenses to identify cost reductions
16. Work with the CFO and corporate reporting team to assist with prospective covenant modeling to ensure leverage ratios and debt service ratios are projected to comply with company and lender requirements

Qualifications:

• Bachelor’s degree in finance, accounting or business required
• MBA or advanced degree in finance required.
• CTP required. CPA, CFA certifications a plus.
• 10+ years of experience in finance and treasury operations with a track record of increased responsibilities
• Previous experience standing up a treasury management system preferred, ideally in an MSO/physician setting
• Strong knowledge of financial instruments, credit facilities and treasury best practices
• Strong knowledge of forecasting, budgeting and related GAAP accounting rules
• Strong leadership skills and the ability to collaborate
• Detail, deadline and goal-oriented
• Ability to drive results in a fast-paced/deadline-oriented environment
• Strong analytical and financial modeling skills
• Problem-solving and organizational skills
• Strong verbal, written and interpersonal communication skills

Bachelors