A finance treasurer administrator, most often simply called a treasurer, is a senior financial manager charged with managing the cash of a business. They monitor and analyze a company’s financial history for the purpose of forecasting and developing future cash management strategies. Although some organizations employ a single finance treasurer administrator, others employ many, each responsible for specific division of business.
Finance treasurer administrators are responsible for all of an organization’s cash. This includes managing outstanding credit, the investment portfolio and any exposure to financial risk. In addition to ensuring that these duties are carried out, they also track and audit financial records to guarantee compliance with the laws and rules of governing agencies. For example, publicly traded organizations are regulated by the Securities Exchange Commission. A finance treasurer administrator typically reports to a corporate or divisional chief financial officer.
A bachelor’s degree is required to obtain employment as a finance treasurer administrator. In addition, many employers give preference to those with a master’s degree. Typical fields of study include accounting, business administration, economics and finance. Although certification is not required to become a finance treasurer administrator, obtaining a credential can give a job seeker a competitive advantage. The Association for Financial Professions administers the Certified Treasury Professional qualification, which is awarded upon the successful completion of an examination to those with at least two years of experience in the field.
In 2010, the U.S. Bureau of Labor Statistics reported that the median pay for finance treasurer administrators and other financial managers was $103,910. Professionals in this lucrative field earn more than $10,000 than those in other management occupations and more than three times that of average person employed in the United States. Although the lowest 10 percent in this field earned $56,100, the top earning financial managers were paid more than $166,400.
Although finance managers such as finance treasurer administrators are found in most industries, more than one quarter of the population works in either insurance for financial services. In addition, the BLS reported that these professionals are also heavily represented in government, manufacturing and professional services businesses. The BLS anticipates employment in this field to increase by 9 percent from 2010 to 2020. Although this is a slower rate than the 14 percent for all occupations, this number will vary by industry.
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