Deputy Treasurer

How to Apply

Please submit a resume and cover letter. Your cover letter should include examples of your ability to:

• Apply strategic thinking, data-driven decision-making, and creative problem-solving to complex challenges;
• Utilize strong communication skills to work with internal and external stakeholders; 
• Develop employees and foster an inclusive, balanced and supportive workplace; and
• Improve processes and increase operational effectiveness

Job Summary

The University of Michigan seeks a strategic financial leader for the position of Deputy Treasurer. Reporting directly to and closely supporting the Assistant Vice President & Treasurer (AVP & Treasurer), this role will serve as an essential member of the Finance leadership team. Your work will support the AVP & Treasurer in advancing key initiatives and fostering collaboration with the Vice President for Finance (VPF), Executive Vice President and Chief Financial Officer (EVPCFO), and other key finance stakeholders across the university.
The Deputy Treasurer will assist the AVP & Treasurer in leading a staff of approximately 25 employees across the Treasury team, which consists of Treasury Services, Capital Markets, Human Subject Incentive Program (HSIP), Merchant Services and Program Specialist teams. The Deputy may also assist with duties for two other departments under the Treasurer's Office: Insurance Claims and Administration (ICA) and Institutional Financial Planning and Analysis (IFPA), in addition to special project duties as assigned.

Key activities for this role include overseeing the university's capital structure, operating liquidity management, investment of short-term working capital, payments to research participants, credit card payment processes and compliance, banking services and banking relationships. Successful candidates for the Deputy Treasurer's role will also possess strong leadership, project management and emotional intelligence skills, including the ability to:

• Demonstrate strategic planning skills and data-driven decision-making that guide continuous process improvement initiatives that enhance efficiency, transparency, risk mitigation and service delivery across the enterprise
• Use emotional intelligence and exceptional interpersonal skills to navigate sensitive situations, build trust, and maintain effective relationships with senior leaders and diverse stakeholders
• Focus on outstanding communication skills for all internal and external stakeholders, including a focus on leading day-to-day operations with transparency and honesty
• Exemplify and promote workplace balance and flexibility by meeting key deliverables while also maintaining balance outside of working hours
• Practice the principles of positive leadership: managing results for positive performance via high-quality connections, regularly connecting the work of Finance to the mission of the institution while promoting teamwork and collaboration across the entire Business and Finance team
• Foster the use of new technologies to improve existing processes, gain operational efficiencies, and modernize treasury operations
• Maintain exceptional discretion in handling sensitive and confidential information

Responsibilities*

With the goal of supporting the university's academic, research, and healthcare missions, key responsibilities will include overseeing and/or assisting the team with the following key treasury operations: 

Banking Services

• Oversight of cash forecasting activities and collaboration with Business and Finance colleagues to optimize the management of the university's cash and short-term investment portfolio
• Management of strategic banking relationships, while providing expertise in banking services, including cash management, treasury services, etc
• Depository services, including remote deposit capture, deposit stations on the Ann Arbor campus, lock boxes and incoming wire transfers
• Disbursement services, including vendor check writing, wire transfers, ACH payments and international foreign exchange payments
• Compliance with all regulations relating to domestic and international banking accounts

Capital Markets

• Maintain strategic relationships with commercial and investment banks for debt and financing needs
• Investment and operational management of the university's Central Bank, including its sizable short-term working capital investments
• Manage the university's debt portfolio, including payments for debt service and related derivative instruments, commercial paper and lines of credit
• Prepare and deliver presentations for the Board of Regents and rating agencies
• Oversight of the university's relationship with bond rating agencies

HSIP and Merchant Services

• Managing the HSIP program, which provides university-wide support for payments to research study participants and compliance with related regulations
• Managing the secure acceptance of credit card payments by merchants across the university's entire enterprise

Process Improvement and Operational Excellence

• Lead treasury modernization efforts through the implementation and optimization of financial technologies, treasury management platforms, and enterprise systems
• Lead continuous process improvement initiatives using technology and industry best practices to streamline treasury operations and reduce manual effort
• Evaluate and redesign business processes to improve controls, scalability, compliance, and customer service
• Develop and monitor operational metrics to measure treasury effectiveness and drive accountability
• Foster a culture of innovation, operational excellence, and continuous improvement across the Treasury organization

Required Qualifications*

• Proven ability to lead a team following the principles of positive leadership, including creating and maintaining an engaging, collaborative and performance-based work environment, along with a willingness to successfully coach and develop fellow team members at all levels
• Excellent written and verbal communication skills, with the ability to deliver presentations to a variety of audiences across the university community
• Demonstrated ability to collaborate and build effective working relationships with other finance teams, as well as across the entire enterprise
• Strong analytical skills, using data, financial modeling and other tools to inform and enhance decision-making
• Proven change-management and stakeholder-engagement skills in complex, decentralized organizations
• Ability to translate complex financial and technical information into actionable business insights
• Bachelor's degree in Business, Finance/Accounting, Economics, or a related field
• Seven to ten years of progressive experience in financial leadership or analytical roles with experience navigating large, complex organizations

Desired Qualifications*

• Master's degree in Accounting, Business Administration, Data Analytics, Finance, Management, Project Management, Public Policy and/or Juris Doctor
• Strong knowledge of enterprise resource planning (ERP) systems, treasury management systems and financial data architecture
• Proven record of leading business process transformation initiatives that deliver measurable improvements in efficiency, effectiveness, controls and stakeholder experience
• Experience working with academic medical centers and healthcare finance
• Familiarity with best practices in the area of cash management and forecasting, working capital/liquidity management and bond finance

Modes of Work

Positions that are eligible for hybrid or mobile/remote work mode are at the discretion of the hiring department. Work agreements are reviewed annually at a minimum and are subject to change at any time, and for any reason, throughout the course of employment. Learn more about the work modes.

Work Locations

This is a remote-first position. The Treasurer's Office uses shared hoteling space within the Finance organization for in-person collaboration and meetings; dedicated individual workspaces are not provided. 

A successful candidate will be able to work remotely from home on a day-to-day basis, but reside in the greater southeast Michigan region so as to easily attend in-person meetings on campus and at the health system, meet with third party partners (bankers, counsel, etc) and host regular in-person sessions with staff. Exceptions for living arrangements based out of southeast Michigan will be reviewed on a case-by-case basis.

Additional Information

The University of Michigan, with an operating budget of $15.6 billion, is a leader in higher education. The Finance Division reports to the Executive Vice President and Chief Financial Officer and partners with the University community to provide the financial infrastructure essential to being one of the world's greatest public universities. Finance is comprised of several units, including but not limited to the Treasurer's Office, Financial Operations, Tax, Procurement Services, Sponsored Programs and Enterprise Financial Planning & Analysis (EFPA). Consisting of several distinct divisions, we share a common set of values and goals. For more information about the Finance Division, please go to www.finance.umich.edu.

We offer an extensive total compensation package including competitive pay, two-for-one retirement contributions, a variety of health insurance options, and a generous vacation plan. Additionally, there are seven paid holidays and four paid season days.

The anticipated salary range for this position is $215,000 to $245,000. The final salary will be based on the selected candidate's experience and qualifications.

Application Deadline

Job openings are posted for a minimum of seven calendar days. The review and selection process may begin as early as the eighth day after posting. This opening may be removed from posting boards and filled any time after the minimum posting period has ended.

U-M EEO Statement

The University of Michigan is an Equal Opportunity Employer. We are committed to providing an environment of mutual respect where equal employment opportunities are available to all applicants, including protected veterans and individuals with disabilities.