Director, Treasury Operations

Company: Philadelphia Industrial Development Corporation

Location: Philadelphia, PA

Job Function: Accounting


Background

Philadelphia Industrial Development Corporation (PIDC) is Philadelphia’s public-private economic development corporation. Our mission is to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods and drive growth to every corner of Philadelphia. You can learn more about PIDC at www.pidcphila.com.

Summary

The Director, of Treasury Operations, is responsible for assisting SVP and CFO with the treasury affairs of the organization and with the preparation of treasury analyses of operations, including debts summary, and cash flow projection for the guidance of management. PIDC manages a cash portfolio of over $200M, representing 100+ bank accounts that support PIDC entities and related parties for their operating, lending, and/or contract-based cash needs. In addition, PIDC entities and related parties manage a debt portfolio of $120M, representing over 15 investors.

Responsibilities

Specific responsibilities include, but are not limited to, the following:

Banking Administration

  • Oversee banking and financial institution relationships
  • Recommend changes to bank account structure to minimize fees and protect against fraud
  • Open and maintain bank accounts to ensure compliance with regulatory requirements from banks, investors, and other fiduciary partners
  • Assess bank account needs set up and/or update for ACH/wire functionalities for bank accounts, as needed
  • Ensure consistent access rights, and proper segregation of duties across treasury platforms
  • Maintain inventory of cash accounts for all subsidiaries
  • Review cash activity for unusual trends/activity

Cash/Contract Management

  • Analyze cash requirements and cash position through analysis of budgetary needs and financial reports
  • Manage cash positions for all PIDC subsidiaries, develop strategies to optimize cash position, and settle intercompany balances
  • Provide oversight, recommendations, and reporting for funds under management
  • Deposit cash received in the appropriate bank account on a timely basis
  • Prepare daily bank transfers
  • Review the lockbox account monthly, and transfer funds to the appropriate account/company.

Financial Strategy

  • Be a strategic partner in determining the financing needs to support finance, capital needs, and other operations
  • Assist in the structuring of financial investments to support the timely deployment of funds in alignment with financial strategy
  • Manage financing assets in coordination with lending needs
  • Review the loan pipeline with the lending team and determine appropriate sources to fund loan production
  • Collaborate with lending teams to determine interest rate pricing for loans
  • Manage debt relationships and ensure all debt and tax payments on a timely basis
  • Determine and update investment strategy for unrestricted cash
  • Review, approve and execute the flow of funds for significant transactions
  • Develop dashboard reporting to measure areas of risk, cash position, and other aspects of Treasury strategy to review with the SVP and CFO
  • Provide strategic financial input and leadership on decision-making issues affecting the organization
  • Develop Treasury and Investment policies and procedures pursuant to best practices and recommendations

Requirements

MINIMUM QUALIFICATIONS:

  • Bachelor’s degree in accounting, business, management, or finance required
  • Five (5) years of relevant experience in treasury, finance, or banking is required
  • Familiar with standard concepts, best practices, and industry approaches in the Treasury and Financial management fields
  • Experience in lending and financial services industries is a plus
  • Proficient in communicating, in either written or verbal formats, financial information in sound business language so that people of all levels can understand
  • Ability to build strong relationships among all levels of the organization, including external partners, investors, and advisors
  • Proficient knowledge of Excel, problem-solving, and analytical skills required
  • Salesforce experience is a plus.
  • Must be a resident of the city of Philadelphia or willing to relocate within six (6) months of hire.

Compensation and Benefits

PIDC offers a competitive benefits package including generous leave time.

How to Apply

Applicants can submit a resume and cover letter to: careers@pidcphila.com