DIRECTOR OF CASH MANAGEMENT SERVICES Annual Salary ...

CITY OF LOS ANGELES OFFICE OF FINANCE

DIRECTOR OF CASH MANAGEMENT SERVICES

Annual Salary: $120,645 - $171,654

The Office of Finance is seeking an experienced individual to join the Department's management team. The Director of Cash Management Services is a high-level financial manager in the department and reports to the Assistant Director of Finance. The Director of Cash Management Services directs citywide banking and treasury activities. This position will be filled as exempt from civil service, and serves at the pleasure of the Director of Finance/City Treasurer.

Office of Finance

The Office of Finance (Finance) was created by Charter amendment and became operational July 1, 2000. On July 1, 2011, the Office of the Treasurer was consolidated into Finance. Finance provides integral services to and on behalf of the City of Los Angeles. Finance's Charter responsibilities are:

Develops and implements the City's revenue policy consistent with the Charter and ordinance, and develops guidelines for the collection of outstanding receivables;

Collects revenues and issues licenses, permits and tax registration certificates not issued by City offices or departments; and

Makes recommendations to the Mayor and City Council concerning the efficient organization of the revenue collection functions performed by City offices and departments.

Serves as the custodian of all money deposited in the City Treasury, providing daily and annual reports of the receipts, disbursements, and balances of the Treasury; and

Serves as the custodian of all securities and short-term investments of the City's core and general reserve funds.

Annually, Finance is responsible for the collection of approximately $2.5 billion revenue, servicing the City's cash flow of approximately $50 billion, servicing a debt portfolio of $14 billion, and actively managing the City's General and Special Pool investment portfolio of approximately $8 billion. The department has approximately 350 staff. The Director of Finance serves as the City Treasurer and General Manager of the department and is assisted by two Assistant Director of Finance positions. Finance has six divisions headed by senior level managers reporting to the Assistant Directors: Revenue Management, Tax and Permit, Systems, Treasury Services, Accounting, and Administration. The Investment Division reports directly to the Director of Finance.

Director of Cash Management Services Duties:

The Director of Cash Management Services is responsible for planning, coordinating and directing banking and treasury operations. The Director of Cash Management Services must have a broad management and financial expertise in order to establish performance standards, plan and coordinate major activities, review performance, budget and monitor expenditures, and initiate and change policies. The role requires close interaction with other departments of City of Los Angeles including the Office of the Controller, City Attorney and City Council staff.

The Director of Cash Management Services will be responsible for the following:

Directing citywide banking and treasury activities; Formulating, documenting, and implementing policies, procedures and programs relating

to cash management, cash forecasting, liquidity management and other regulatory, internal control, and compliance issues; Reviewing and negotiating banking and merchant services; Overseeing account analysis, managing the compensating balance for banking transactions, and monitoring the budget for bank fees; Overseeing cash management and debt service activities, including cash forecasting and liquidity management; Supporting the City's strategic direction by helping the City achieve its financial objectives and meet relevant financial policies and regulatory requirements. Conducting training for City departments on internal and external banking, credit card processing, debt servicing, and requests for bank and merchant accounts; Analyzing trends in the utilization of services, monitoring bank balances, and coordinating electronic fund transfer payments for investment, working capital, and cash flow forecasting; Participating in management's strategic planning, and conducting special administrative and research studies on improving delivery of financial services and system infrastructure/interfaces; Recommending initiatives to enhance risk mitigation and fraud protection; Developing, testing and maintaining business continuity and business resumption plans for financial operations; Overseeing and leading the Payment Card Industry compliance; Managing the implementation of the proposed treasury management system in collaboration with City departments and project consultants; Evaluating requests for departmental and citywide banking services; Issuing Requests for Proposals (RFPs) for banking services, service contracts, renewals and amendments between the City, financial institutions and other vendors; Directing, coordinating, and reviewing accounting activities relating to reporting and audit of internal control of cash, custody and disbursement of City funds; Overseeing the maintenance of the Finance Intranet; Participating in financial analysis and due diligence support for the City's bond issuance; Championing and supporting functional requirements and testing for treasury and financial systems' implementation and optimization; Continuously reviewing treasury functions, streamlining operations and recommending process improvement; Representing the Department before City Council, Council committees, City commissions, and other public and private agencies and groups to discuss the operation and services of Finance.

The Director of Cash Management Services must have knowledge of:

Treasury, general finance and economic principles, commercial banking, NACHA, and debt management requirements for bonds issued by the City;

Knowledge of city, state and federal compliance requirements; Experience in a related financial analysis role and strong analytical, quantitative, and

technical abilities; Principles and practices, including organization, budget preparation, personnel

management, and financial management; Electronic banking portals, administration of user profiles and online access, and EFT

payments; Supervisory principles and practices, including planning, delegating and controlling the

work of subordinates; Techniques of training, instructing and evaluating subordinate work performance; and Techniques for counseling, disciplining and motivating subordinate personnel.

Qualifications

The ideal candidate for this position will have a Bachelor's degree from a recognized college or university with a degree in business administration, banking, finance, or economics. An MBA is preferred or ten years of professional experience managing staff involved in treasury operations, and/or a fiscal agency or financial operation involved in debt administration, trustee services, custodial (safekeeping or third party) services, paying agent functions, corporate or municipal financing, budgetary administration, or consulting for any of these activities. Have a discipline for high performance, act with integrity, take accountability, and cultivate creativity. A Certified Treasury Professional credential is required.

Desired Characteristics:

Proven managerial ability to support staff, peers and executive team; Creates a customer service environment within the organization and develops effective

internal and external customer relationships. Excellent skills in oral and written communication, motivation, and interpersonal

relations; the ability to express thoughts and complex ideas in a straightforward and efficient manner; Strong organizational skills, analytical thinking and attention to detail; Demonstrated ability to coordinate and collaborate with internal and external staff and financial service providers for problem resolution. Maintain good relations with City officials; Establish and maintain a work environment to enhance both employee morale and productivity; Be able to multi-task, be a strong team player and work collaboratively with diverse audiences; Proficiency in Microsoft Office Products (Excel, PowerPoint and Word);

HOW TO APPLY:

Electronic submittals are required. Interested candidates should immediately submit a resume, cover letter of interest, and three work-related references (include name, job title, affiliation, and telephone number) to:

City of Los Angeles - Office of Finance Attn: Mindy DeYoung

Email: financepersonnel@

(Note: When e-mailing your application material, the subject line should reflect your name and the job title you are applying for.)

Questions may be referred to Mindy DeYoung at (213) 978-1763. The filing period will close on Thursday, March 31, 2016 by 4 p.m.

In order to be considered, resumes must include: A description of the size and function of the organizations managed; description of your role in the organization; at least one major professional accomplishment in which you played a key role; and any relevant experiences or unique characteristics which could further qualify you for this position.

* The position of Director of Cash Management Services in the Office of Finance is an exempt, at-will management position. The incumbent will not accrue any civil service tenure, contractual employment rights, or due process rights. The Director of Cash Management Services is appointed by and serves at the pleasure of the Director of Finance. The incumbent may be removed, without any finding of cause, by the Director of Finance. Such removal would not be reviewable or appealable.

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