Assistant Treasurer's Job Description

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An assistant treasurer, or treasurer aide, works under the guidance of a senior professional to recommend adequate cash management ideas and asset selection, or investment, options to a company's leadership. An assistant treasurer also evaluates corporate financial statements to ensure that short-term liquidity (cash) levels are sufficient to fund operating activities.

Responsibilities

  • A treasurer aide helps a firm's head treasurer oversee cash management activities and foreign exchange transactions in which the company engages. He also partners with corporate finance and investment department staff to evaluate financial data and detect trends in "working capital" ratios. ("Working capital" equals current assets minus current liabilities and is a measure of short-term cash availability.) An assistant treasurer also ensures that employees abide by regulatory guidelines, human resources policies and top management's instructions when performing their duties in cash management processes.

Education and Training

  • An assistant treasurer typically has a bachelor's degree in finance, treasury management, accounting or investment analysis. A liberal arts major is not uncommon in the field, but she usually has significant practical experience (over 10 years). A treasurer aide with vast responsibilities may hold an advanced degree, such as a master of business administration (MBA) or doctorate, in finance or investment management. A treasury assistant with prior public accounting experience generally has a certified public accountant (CPA) license.

Salary

  • An assistant treasurer's total pay includes wages as well as stock and cash bonuses. Salary levels depend on the employee's academic qualifications, professional credentials, seniority and length of service. According to the U.S. Bureau of Labor Statistics (BLS), assistant treasurers earned median annual wages of $99,330 in 2008, excluding performance-based stock and cash bonuses. BLS data also indicates that the middle 50 percent of the profession earned from $72,030 to $135,070.

Career Development

  • An assistant treasurer can improve his chances of promotion by seeking a higher academic degree or professional certification. For example, a treasurer aide at an investment bank can boost her career by receiving the chartered financial analyst (CFA) designation or the CPA license. A competent and skilled assistant treasurer can expect to be a head treasurer, senior finance director or senior investment supervisor, in five to 10 years.

Working Conditions

  • A treasurer assistant works a standard 8.30 a.m. to 5.30 p.m. shift. However, he may work late at the end of the quarter to help a company file regulatory data with the Securities and Exchange Commission (SEC) or the Internal Revenue Service (IRS). She also may assist in the monthly accounting close procedures. An assistant treasurer often may travel to meet with corporate domestic or international clients.

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References

  • Photo Credit Accounting and finances image by MAXFX from Fotolia.com
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