Treasurer & Chief Investment Officer
University of Colorado System Administration

Job Info

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Treasurer & Chief Investment Officer

Treasurer & Chief Investment Officer - 29426 University Staff 

Description 
The recruitment for this position is being handled by DHR Global. The review of nominations and applications for the position will commence immediately and continue until the position is filled. All candidate information will be held in strict confidence. Qualified applicants should forward an electronic version (Microsoft Word or Adobe PDF files preferred) of their resume and a letter of interest to: Treasurer-cio@dhrglobal.com

Please DO NOT apply on the CU Careers site.

 

The Organization and Its Mission

The University of Colorado (CU) is a public research university with multiple campuses serving Colorado, the nation, and the world through in high-quality education, professional training, public service, innovative research, and state-of-the-art health care. CU plays a profound role in the lives of individuals, businesses, and communities throughout Colorado, across the country and in the world. Nearly half a million alumni are leaders in business, science, the arts, health care and their communities, and they're joined by 15,000+ each year. 

CU is comprised of four campuses: the Denver Campus, Anschutz Medical Campus, Colorado Springs Campus, and Boulder Campus. CU also has a Central System Administration office in Denver and a separate Foundation that manages a growing endowment supported by alumni relations and Development activities at each campus. The University employs 37,000 faculty & staff, has an enrollment of 67,000 students, and operates with an annual budget of approximately $5B. CU is the third largest employer in the State, provides a $12B impact to the economy of Colorado, and has fostered 190 start-up companies in the past 25 years. Additionally, the University has produced five Nobel Prize winners in Physics and Chemistry, features the #1 ranked hospital in the State, and boasts 20 astronauts. The University is first in NASA research funding, performed the first liver transplant, and is ranked the #1 Alzheimer's disease Center.

For more information on the scope and scale of CU, its campuses, please see the appendix to this document and visit https://www.cu.edu.
 

Position Scope

The Treasurer's Office reports to the Board of Regents and the Vice President for Budget and Finance, and is responsible for overall cash, debt, and investment management, and is co-fiduciary for CU retirement plans. Under the leadership of the Treasurer, the office performs the reconciliation and accounting for cash and investments of the operating treasury pool of $3+ Billion as well as other insurance trusts, treasury managed endowments, component units, and system debt of $1.8 Billion. Treasury manages campus banking services and merchant credit card accounts and manages compliance with data security for credit cards. Treasury also manages a system-wide faculty housing assistance program (FHAP).  A department organization chart is included in the appendix.

The following positions are direct reports: 

• Associate Treasurer and Assistant Vice President, Liability Management; 
• Assistant Treasurer, Operations; 
• Assistant Treasurer, Banking and Treasury Services Manager;
• Deputy Chief Investment Officer; 
• Treasury Cash Manager; and 
• Executive Assistant.

The Treasurer, CIO, and Associate Vice President for Budget & Finance reports to the VP & CFO and serves as an officer of the University and is governed by state statutes 23-20-109 and Regent Laws 3A, 13B, and 15A. This position is exempt from the State of Colorado Classification system.  

Duties and Responsibilities

This is a critical role in CU's continued success and growth.  The role is accountable for the following general responsibilities:

• Maintains knowledge about reporting requirements for Regents, Federal, State, and other university organizations, particularly with respect to banking, cash, investments and debt;
• Reports quarterly to the Board of Regents regarding cash, investments, banking and debt;
• Works with CU internal audit and with external auditors on the annual audit of the financial statements;
• Ensures that Governmental Accounting Standards Board (GASB) is followed when recording financial transactions and in annual audit for debt and investment reporting;
• Represents the University to campus CFOs, Chancellors, Controllers, the higher education community, State legislation and treasury trade associations;
• Responsible for process and procedures for unclaimed property external and internal to CU;
• Develops policies, procedures, operational controls and standards for all operational areas in Treasury;
• Ensures daily operational functions are performed in Treasury for each banking day in a calendar year;
• Responsible for the hiring, training, managing, and personnel actions of six direct reports and three indirect reports;
• Manages staff within the department to coordinate tasks, communicate goals and focus areas, and to keep staff informed of other areas that might affect their job performance;
• Serve as an active member of committees, internal Boards, or operational component units; and, 
• Works on about 14 cross campus committees as assigned. 

Chief Investment Officer Responsibilities

• Creates, monitors, and ensures continuing compliance with the investment procedures and governing policies of the Board, state statutes, and federal and state fiduciary rules for the Treasury pool investment assets of $3+ Billion and for the debt related investments, 12 or more endowments, insurance trusts, and component units of non-pool investment assets of $900 Million;
• Actively invests operating funds, insurance trusts, endowments, bond proceeds, and rebalances portfolios as needed and to review the performance of investment managers and fees, seek outside expertise, and to replace existing investment managers as needed in coordination with the Deputy Chief Investment Officer;
• Works with the system CFO and Senior Budget Officer to develop an annual investment returns distribution budget in consultation with Treasury staff, outside investment consultants, and the Investment Advisory Committee;
• Supervises and works with the Treasury Cash Manager to forecast and manage cash to support system-wide operations and optimally invest cash for liquidity needs, risk mitigation, and returns;
• Serves as co-fiduciary with an outside investment consultant for CU's multiple internally managed retirement plans (401a, 403b, and SERP) totaling over $5 Billion in assets;
• Advises on the investment options for these retirement plans and continually monitors all aspects of investment manager performance;
• Safeguards University funds through the application of State Fiscal Rules;
• Responsible for supervision of overall accounting reconciliations to ensure accurate and timely reporting of investment and cash transactions, fees, and performance;
• Provides training to Investment Advisory Committee members, Regents, faculty, and others as needed regarding investment practices, divestment, ESG investing, and other issues;
• Reviews and presents Treasury Quarterly Report to the Regents and to the Investment Advisory Committee on key liquidity, investment, and operating metrics;
• Reviews and approves Pooled Investment Earnings (PIE) rates for allocations to campuses;
• Coordinates, recommends, documents and implements procedures for quarterly and annual PIE allocations to Full Rate, ISU, and SPA organizational units, as well as input the monthly PIE allocations;
• Oversees implementations of software solutions for cash management and investments accounting and allocations; and, 
• Reviews and is responsible for the investment audit schedule for the annual external audit.

Debt Management Duties

• Works actively with the Board to present all debt financing refunding or new debt issuances and to obtain Board approval;
• Supervises accounting for new debt and debt refunding issuances, including variable fixed and variable rate bonds, Commercial Paper (CP) and Variable Rate Demand Bonds (VRDB) accounting, and allocations of debt administrative costs to ensure accurate and timely reporting of debt balances and debt transactions in coordination with the campus controllers offices;
• Oversees the administration of campus internal loans including seeking Board approval, determines appropriate interest rates for internal loans, and provides Board reports quarterly on their status;
• Maintains working relationships with external financial advisor, underwriters, bankers, rating agencies, bond, disclosure, and underwriters' counsels, arbitrage rebate advisors, bank trustees, paying agents, and investment bidding agents;
• Oversees implementations of software solutions for debt management and accounting;
• Oversees the operation of the FHAP including signing FHAP insurance reimbursements, applications, loan payoffs, and subordination agreements;
• Develops and maintains debt management policies with support from the Director of Liabilities;
• Educates the Board for complex debt transactions;
• Helps campuses with strategies for obtaining working capital for deferred maintenance and new construction projects and with accounting solutions for these projects;
• Reviews and is responsible for the debt audit schedule for the annual external audit; and, 
• Provides regular reports to: 
  • Board - Debt compliance with State Statutes, IRS rules, EMMA reporting, State COP compliance, intercept program exception, and rebate arbitrage calculations;
  • Board - The Maximum Annual Debt Service ratio (MADS) including 5-year forecast and historical budget to actual;
  • Rating Agencies - Presentations for rating agency updates to rate all debt issuances and to annually rate variable rate bonds working with Associate Treasurer and Assistant VP, Liability Management and Assistant Treasurer, Operations and CU senior system and campus management;
  • Faculty Council - FHAP annual report regarding the results; and, 
  • Campuses - Quarterly cash expenditures projections for capital projects reporting. 

Banking Responsibilities

• Serves as a fiduciary of state funds with overall responsibility to establish and maintain a cost-effective banking relationship to ensure that the University's cash assets are protected;
• Oversees all banking authorizations (55+ bank accounts) and controls within the CU system;
• Oversees credit card system implementations and credit card security;
• Implements with Assistant Treasurer, Banking and Treasury Services Manager leading bank practices to prevent fraud, drive operational efficiency and to ensure compliance with state, federal, and Regent policies;
• Reviews and make decisions regarding technology solutions (Touchnet, Cvent, Nelnet, Clover, etc. for example) for the Treasury Office to support banking, cash management, investment accounting, and other treasury functions; and, 
• Documents Treasury Office functions/processes in all operational areas of treasury with support from the Assistant Treasurer, Operations.

 

Salary: The anticipated hiring range has been established at $260,000 - $337,000.  

The salary of the finalist selected for this role will be set based on a variety of factors, including but not limited to, internal equity, experience, education, specialty and training. 

The above hiring range represents the University's good faith and reasonable estimate of the range of possible compensation at the time of posting. 

Benefits: The University of Colorado offers an excellent benefits package including: 

Medical: Multiple plan options  Dental: Multiple plan options  Additional Insurance: Disability, Life, Vision and Wellness   Retirement 401(a) Plan: Employer contributes 10% of your gross pay  Paid Time Off: Accruals over the year 
Vacation Days: 22  Sick Days: 15  Holiday Days: 10 
Tuition Benefit: System employees have the benefit on all campuses    ECO Pass: RTD Bus and light rail service  Additional Perks & Programs: Click here to access a few more: Perks and Programs  

Click here to access our Total Compensation Calculator to see what your total rewards could be at CU. This position is a University Staff position. 

Additional taxable fringe benefits may be available. 

More information on benefits programs, including eligibility, is available at www.cu.edu/employee-services/. 
 

Qualifications 
To be successful in this position, candidates will need the following: 

• Knowledge of Treasury best practices; 
• Knowledge of GASB compliance, rules, and regulations specifically for Treasury function areas;
• Knowledge and skills in Project Management best practices;
• Knowledge of capital markets, commercial and investment banking, risk management, cash management, debt, and accounting principles and best practices;
• Knowledge of Board of Directors structure and functionality in a corporate and/or public university setting;
• Ability and willingness to perform hands-on work to execute on the above-mentioned Treasury responsibilities;
• Demonstrated understanding of internal controls and their importance in fraud-prevention;
• Accounting skills, including the ability to perform computational math, be cognizant of and address details, and meet deadlines;
• Leadership and people management skills, including the ability to manage various personalities and influence decisions;
• Ability to work within a diverse team and actively seek out opportunities to promote and cultivate diversity across the organization;
• Analytical and problem-solving skills, including the ability to examine and summarize date and trends in order to resolve issues and produce results;
• Interpersonal skills, including the ability to facilitate interaction, communication, and teamwork between others;
• Oral, written, listening, and presentation communication skills, including the ability to accurately interpret what others are saying and convey messages, information, concepts, and details clearly;
• Ability to learn and utilize existing and emerging financial technologies;
• Ability to utilize spreadsheet, database, presentation, browser, financial tools and word processing software;
• Ability to collaborate and communicate effectively with internal and external stakeholders;
• Ability to multi-task and prioritize tasks with frequent interruptions; and, 
• Ability to handle confidential information with discretion. 

Minimum Requirements 

• Bachelor's degree from an accredited institution of higher education in finance, accounting, or business-related discipline or equivalent professional experience (professional experience may be substituted for the educational requirement on a year-for-year basis);
• Certified Public Accountant (CPA) or equivalent (3-5 years) accounting experience; 
• Certified Treasury Professional (CTP) or equivalent treasury experience; 
• Thirteen (13) years of experience in treasury functions, with minimum assets and debt of $300 Million to $1 Billion respectively; and, 
• At least seven years of personnel management, supervisory, or leadership role, which includes: - Managing personnel, developing/mentoring direct reports, and completing performance reviews to ensure continuous improvement, high performance, and employee retention 

Preferred Qualifications

• Post-baccalaureate degree from an accredited institution of higher education in finance, accounting, business administration, or related discipline;
• Sixteen (16) years' professional experience working in treasury functions, as indicated above; 
• Ten (10) years' experience in management, supervisory, or leadership role, as indicated above; 
• Experience working in or with government or an institution of higher education; 
• Experience working in a public sector treasury; 
• Experience working with a Board of Governors, Regents, or Directors; and,  
• Previous experience as fiduciary responsible for managing investments.

 

Background Check Statement

The University of Colorado is committed to providing a safe and productive learning and living community. To achieve that goal, we conduct background investigations for all final applicants being considered for employment. Background investigations include a criminal history record check, and when appropriate, a financial and/or motor vehicle history. The Immigration Reform and Control Act requires that a verification of employment eligibility be documented for all new employees by the end of the third day of work. The University of Colorado is committed to diversity and equality in education and employment. 

ADA Statement

We are committed to an inclusive and barrier-free search process. We provide accommodations for applicants requesting accommodation through the search process such as alternative formats of this posting.  Individuals with disabilities in need of accommodations throughout the search process should contact the ADA Coordinator at: systemhr@cu.edu
   

Job Category: Business Services 

Primary Location: Denver Department: S0001 -- System Administration - Board of Regents 

Schedule: Full-time 

Posting Date: Mar 23, 2023 

Unposting Date: Ongoing Posting Contact Name: Dan Carney Posting Contact Email: dcarney@dhrglobal.com Position Number: 00705439

To apply, visit https://cu.taleo.net/careersection/2/jobdetail.ftl?job=29426&lang=en







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