What does a Treasurer do?
Treasurers are typically employed by private companies or governmental organizations. They handle the financial decision-making process of the portfolio of investments and acquisitions for a company. The Treasurer supervises the company’s cash management and procurement objective, working closely with executive management. The Treasurer creates internal controls to safeguard corporate assets and the integrity of its fiscal systems. The Treasurer oversees accounts payable and receivable, payroll, utility billing and records management.
Treasurer skills and qualifications
Since Treasurers should take a proactive approach to fiscal management as opposed to a reactive one, an applicant needs to demonstrate strong analytical and project management skills. Other skills relevant to this position might include:
- Strong economics or accounting background
- Knowledge of capital markets, accounting and business finance
- Knowledge of word processing, spreadsheet, accounting, inventory and payroll systems
- Ability to collaborate with team members and drive results
- Ability to interpret an extensive variety of laws and regulations
- Strong verbal and written communication skills
Treasurer salary expectations
A Treasurer makes an average of $16.00 per hour. Pay rate may depend on the applicant’s level of experience, education and geographical location. The average tenure for someone in this position is one to three years.
Treasurer education and training requirements
Most companies require a bachelor’s degree in business, finance, economics or accounting, but some will accept a degree in a related field. There are various Municipal Treasurer positions that require a master’s degree.
Some companies will also require the Treasurer to be bonded. A bonded Treasurer undertakes a surety bond with their organization, promising that they will perform their job duties in an honest way. There is also a voluntary Certified Treasury Professional (CTP) designation exam for those candidates who possess at least 2 years of experience in a related field.
Treasurer experience requirements
Generally, the average experience level required for the Treasurer position is 3-10 years in business, finance, economics or accounting depending on the size and needs of the company. Some small businesses will accept as little as 1 year of accounting or finance experience.
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