Cedars-Sinai is initiating a national search for an Executive Director of Treasury in Los Angeles, CA (relocation assistance provided). The Executive Director of Treasury has overall responsibility for the operation and management of Cedars-Sinai Treasury functions: Banking Relations, Cash Management System and Services, Debt Facility Management, Corporate Responsibility, and Strategic Initiatives.
Banking Relations/Cash Management
- Provide recommendations to executive management for Financial Institutions selection
- Negotiate to assure the highest quality systems and services used for best market prices
- Review, analyze terms of contracts, on-going review and evaluation of products and services. Lines of Credit negotiation, issuance, administration and compliance
- Oversee Cash Management staff
- Day-to-Day operations includes monitoring cash flows, planning/forecasting cash needs, Short-Term
- Investment/borrowings, bank analysis, fee structure, global electronic disbursements (wires, ACH), credit card
- processing/PCI compliance
- Protection of Cedars-Sinai’s liquid assets
Debt Facility Management
- Responsible for Cedars-Sinai 1.2 Billion Tax-exempt Bond portfolio
- Participate in evaluation and decisions relating to the Credit Facility financing process
- Compliance program and reporting (arbitrage calculation, covenant reporting, EMMA posting, Schedule 990)
- Interaction with attorneys, trustees, bondholders, the regulatory bodies (IRS, SEC and more)
- Responsible for the efficiency and accuracy of the Debt-related Transactions and Reporting, Trustee accounts activity including Project account Investment portfolio
- Cultivate strong, positive and collaborative relationships with staff, leadership, and Board Committees to ensure credibility and buy-in for initiatives
- Evaluate and Develop quantitative tools for all treasury services and reports
Corporate Responsibility & Strategic Initiatives
- Ensure treasury activities comply with policies, accounting guidelines, and disclosure requirements governance and internal controls
- Support SVP in Finance Committee discussions to evaluate liquidity plans, strategies, and risk mitigation
- Support company-wide transformation and change management
- Develop a budgets and long-range financial plans that include debt and investment projects, debt service costs, and investment returns
- Bachelor's degree in Mathematics, Economics, Accounting, Finance, or related area. MBA or Graduate degree preferred.
- Minimum 10 years in experience with deep treasury and finance experience in a complex healthcare organization required.
- Candidates must have extensive experience in cash transactions (account opening, consolidation, fee structure) and the debt transactions
(evaluation, compliance reporting, 990, IRS reporting, arbitrage calcs, underwriter involvement, consolidation, deal structure).
- Strong treasury skills, including knowledge of cash management, corporate finance, capital markets, investment management, risk management, and banking relationships
- Experience implementing treasury workstations and management systems
- Experience in business analysis and strategic planning. Knowledgeable about tax implications which can drive financing decisions
- People management skills, including a proven ability to provide training and development to staff as part of a coordinated and strategic talent development plan
- Strong presentation skills as demonstrated by exposure to boards of directors, community boards, and top executive management. Thinks “big picture” and is viewed as a senior adviser and business partner to management