Treasury Manager

As the lead liaison between KWPMC, the client, and financial institutions, the Treasury Manager will take the lead as it relates to KWPMC’s commitment to safeguard Association funds while maintaining liquidity to maintain the Association’s day-to-day operations and finding ways, when possible, for Associations to earn interest on such funds.

 

Duties and Essential Functions

 

Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions. Duties and essential functions include, but are not limited to, the following:

 

FINANCIAL INSTITUTIONS (PARTNER BANKS)

 

Continuous

 

Foster a professional relationship with the financial institutions with which KWPMC has a Banking Services and Referral Fee Agreement (herein referred to as “Referral Agreement”), namely Bank United, City National Bank, Popular Community Bank, Truist Bank, and Valley National Bank (collectively referred to as “Partner Banks”).

Become familiar with the Referral Agreement with each Partner Bank by reading the agreement from time to time and maintaining a side-by-side comparison of the key contractual terms such as contract term, Federal Fund Rate used for calculation, earning credit rates (“ECRs”) by account category, increases based on Federal Reserve rate increases, etc.

Prepare treasury plans to move funds to Partner Banks while maintaining funds in FDIC[1] Products and under FDIC Limit, while at the same time trying to improve interest earned on funds. Refer to the Interest Rate Sheet produced weekly. Whenever necessary, on a case-by-case basis, contact a representative of Partner Bank to work with them to obtain interest rates that are not published in order to retain Association funds within Partner Bank.

Maintain tracking sheet of treasury plans created and communicated to Associations. Track the association name, the reason for review (i.e., non–partner bank balances, Association funds in excess of FDIC Limit, Board driven, etc.), primary banking relationship, amounts in question, proposed treasury plan, date communicated to Board, and final outcome.

Work closely with Vice-Presidents of Finance to monitor lending opportunities, which typically arise when Associations need to undergo major reports, replacement of capital assets, or working capital recovery.

Continuously monitor Federal Reserve published information on interest rates and factors affecting nationwide financial system and stability by hearing speeches by the Federal Reserve Board of Governors and reading information on the Board of Governors of the Federal Reserve System website: federalreserve.gov..

In addition, the following fundamental factors must be kept in mind as KWPMC executes this policy:

Recognize events that may pose a risk to the principle of association funds.

Respond with urgency to such risks to avoid any losses.

Report in writing the action, findings, and solutions to the client.

 

Weekly

 

Obtain updated rate sheets from Partner Banks.

Forecast, evaluate, and reassess deposits of association funds when events that will generate additional funds occur, such as:

Insurance Claim Proceeds

558 Litigation Settlement

Special Assessment Collections

 

Monthly

 

Upon obtaining the ECRs, enter the balances and Federal Interest Rate into the Master ECRs Worksheet.

Obtain monthly FDIC Exposure Report from Partner Banks. Partner Banks will a list of provide associations KWPMC manages along with the average bank balances and any funds in excess of the FDIC limit per the association’s federal identification number. If any Associations appear on FDIC Exposure Report, an immediate plan will be put in place to reduce balances, which may include adjusting threshold limits within FDIC programs, movement of funds to other partner banks, or initiating FDIC programs if one does not already exist.

Monitor monthly Bauer Financial Reports that indicate star-rating for banks to monitor Partner Banks have a 4-star rating or above (subscribe to service provided by Bauer Financial to send alerts when partner banks rating change). If any fall below a 4-star rating, consider the movement of funds.

Monitor monthly account analysis by looking for material (over 10%) increases or decreases in any grouped account types (i.e., Insured Cash Sweep Accounts, CDs, Interest-bearing Accounts, Non- non-interest-bearing accounts, and Demand Checking). Document explanations for variances.

Monitor monthly the Earning Credit Rate (ECR) calculations by account type to ensure compliance with the executed Banking Services and Referral Fee Agreement.

Forecast ECR earnings for the next 12 months based on estimated movement of funds from non-partner banks and additions of new properties. Provide forecast to KWPMC Controller and Chief Financial Officer.

Review interest rates earned on non-partner banks to identify interest rates that are lower than those offered by Partner Banks and initiate correspondence with the Association to provide the benefits of moving to a Partner Bank, which will include FDIC products and a potential of more favorable interest rates.

Meet with the Senior VP of Finance overseeing loans and review upcoming lending opportunities as tracked on the Loan Tracker Master worksheet to assist with devising a lending plan with Partner Banks.

Meet with the Director of Banking and Transitions to provide the name of the Partner Bank for new Associations.

 

Quarterly

 

Meet with the representatives of the Partner Banks to summarize the movement of funds, future opportunities, and opportunities for improvement, if any.

Attend one DM Global Meeting and one Monthly Accounting Manager Meeting to provide banking industry changes affecting Associations and present examples of successful treasury or lending plans approved by boards.

Attend one Monthly Property Manager Meeting in each region to provide insight on changes in the banking industry affecting Associations and promoting ways the Treasury can assist in devising treasury and lending plans.

 

INSURANCE PARTNERSHIPS

 

Continuous

 

Foster the professional relationship with certain insurance brokers and insurance adjusters, which, as of the date of this job description, include USI Insurance Services and Global Pro (collectively referred to as “Insurance Specialists”).

Find opportunities to refer Insurance Specialists to existing and new associations when the association has a need for their services and products.

As needed and immediately as events such as hurricanes occur, meet with Insurance Specialists to find opportunities on how to provide services to affected Associations. Visit Associations with Insurance Specialists and monitor the services offered for these extraordinary events by:

Visiting the Association while Insurance Specialists are doing work.

Meet with the Association Board to provide updates on services and ensure Insurance Specialists are meeting expectations.

 

Monthly

 

Maintain the Insurance Master file inclusive of two tabs: (1) Association Insurance with terms and existing agents and (2) Association events that require the services of Global Pro.

Meet with the Chief Operating Officer to provide overall services offered and opportunities to offer services to Associations.

Host meetings with the assigned representatives from the Insurance Specialist to review upcoming renewals or opportunities forecasting three months in the future, e.g., Association insurance policies expiring within the future 3-month period.

Attend DM Meetings to present industry changes and/or speak regarding benefits offered by the Insurance Specialist.

 

Quarterly

 

Attend property manager meetings with one or both Insurance Specialists to inform the group of industry updates and promote services.

 

Semi-Annually

 

Join a monthly webinar hosted by KWPMC to address insurance-related industry changes alongside representatives from Insurance Specialists, promoting their services.

 

 

REPORTING AND METRICS

 

The Treasury Manager must maintain the following reporting and metrics to assist in providing monthly updates to the CEO, President, CFO, and his/her direct report:

 

Monthly ECRs Tracking Sheet inclusive of balances by account categories and ECRs calculated for the month by partner bank

Monthly Treasury Tracking Sheet to include association, who was meeting with, existing balances and specifics on current bank and interest rates, and details on the treasury plan presented

Monthly Loan Tracking Sheet to include association, list of banks being considered, key terms (such as loan amount, closing costs, interest rate, specific loan provisions), and opportunity

Monthly FDIC Exposure Report for all Partner Banks and Non-Partner Banks

Quarterly maintain a Bauer Rating worksheet per partner bank

Monthly tracking of the insurance referral and insurance adjuster opportunities created to include association name, insurance policy renewal date, whether or not USI was chosen as agent and amount of premiums.

 

Supervisory Responsibility

 

Employee reports directly to the Executive Vice-President of Association Finance.

 

The following are requirements an employee must have:

 

3 to 5 years of work experience in a related field.

Bachelor’s degree in business administration

Must demonstrate strong organizational skills and a commitment to customer service.

Must have the ability to prioritize and multi-task.

Must be proficient in Microsoft Office (e.g., Excel and Word.)

 

 

Other Duties

 

Please note that this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities required of the employee for this job. Duties, responsibilities, and activities may change at any time, with or without notice.