- Ensure sound financial management and oversight of the organization's financial resources and operations
- Maintain accurate and complete financial records to support transparency and accountability
- Provide strategic financial guidance to support the organization's mission and long-term sustainability
- Establish and enforce strong internal controls and financial policies to mitigate risk
- Foster trust and confidence among stakeholders through effective financial reporting and communication
- Ensure compliance with all applicable laws, regulations, and reporting requirements
- Optimize cash flow, liquidity management, and investment strategies to support organizational goals
- Build and maintain strong relationships with banks, financial institutions, and external partners
Objectives
Responsibilities
- Oversee daily cash flow operations and ensure adequate liquidity for operational needs
- Prepare and present monthly, quarterly, and annual financial reports to the board and stakeholders
- Develop, monitor, and manage the annual operating budget and program-specific budgets
- Maintain accurate financial records including income statements, balance sheets, and cash flow statements
- Execute wire transfers, ACH payments, and other disbursements accurately and on time
- Reconcile bank statements and maintain up-to-date records in accounting systems
- Develop and implement financial policies including gift acceptance, expense reimbursement, and compensation policies
- Manage banking relationships and negotiate terms, fees, and services
- Oversee investment activities and debt portfolio management
- Monitor and mitigate financial risks including fraud, theft, and non-compliance
- Prepare and file required tax forms including Form 990 and employer tax returns
- Coordinate financial audits and implement auditor recommendations
- Conduct budget versus actual analysis and recommend adjustments as necessary
- Approve payments and expenditures in accordance with established policies and board authorization
- Participate in strategic planning and provide financial input on organizational goals
- Supervise and mentor treasury staff, bookkeepers, and financial team members
- Collaborate with fundraising teams on revenue generation strategies and tracking
- Maintain membership lists and track dues collection (for membership organizations)
Required Skills & Qualifications
- Bachelor's degree in accounting, finance, business administration, or related field
- Minimum of 5-10 years of experience in finance, accounting, or treasury operations
- Strong knowledge of financial management best practices and accounting principles
- Proficiency with accounting software and financial management systems
- Advanced Microsoft Excel skills for financial modeling and analysis
- Knowledge of tax codes, financial regulations, and compliance requirements
- Strong analytical and problem-solving abilities with attention to detail
- Excellent written and verbal communication skills
- Ability to translate complex financial concepts for non-financial audiences
- Strong organizational and time management skills
- Demonstrated integrity and trustworthiness in handling sensitive financial information
- Ability to work collaboratively with board members, staff, and external partners
- Leadership skills and ability to manage and develop team members
Preferred Skills & Qualifications
- MBA or advanced degree in finance, accounting, or business administration
- Professional certification such as CTP (Certified Treasury Professional), CPA (Certified Public Accountant), or CFA (Chartered Financial Analyst)
- Experience in nonprofit financial management and understanding of nonprofit-specific regulations
- Knowledge of treasury management systems (TMS) and ERP platforms
- Experience with financial forecasting and cash flow modeling
- Familiarity with investment management and risk mitigation strategies
- Experience with audit preparation and coordination with external auditors
- Knowledge of fundraising operations and donor management
- Experience with financial policy development and implementation
- Proficiency with data visualization tools such as Tableau or Power BI
- Understanding of foreign exchange and interest rate risk management
- Experience serving on board committees or in governance roles
- Knowledge of SOX compliance and internal control frameworks
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What Does a Treasurer Do?
A treasurer oversees, manages, and safeguards an organization's financial resources and operations to ensure fiscal health and accountability. They monitor cash flow, prepare budgets, maintain financial records, and report on the organization's financial status to stakeholders.
Organizations need treasurers to provide critical financial oversight and ensure responsible stewardship of funds. Treasurers act as the primary financial liaison between the board of directors and staff, translating complex financial information into actionable insights for decision-makers. Their expertise helps organizations maintain public trust, meet legal obligations, and achieve long-term financial sustainability while advancing their mission.
Treasurers need strong financial literacy, analytical thinking, and attention to detail. They must possess excellent organizational skills to manage multiple financial projects simultaneously and communicate clearly with both financial and non-financial audiences. Knowledge of accounting principles, budgeting processes, financial reporting standards, and compliance requirements is essential for success in this role.
What Are the Responsibilities of a Treasurer?
The responsibilities of a treasurer are to oversee financial management, ensure accurate reporting, develop budgets, manage cash flow, and maintain compliance with applicable laws and regulations.
Treasurer duties include monitoring daily cash positions, preparing monthly and annual financial reports, reconciling bank statements, and maintaining permanent financial records. They also develop and enforce financial policies, manage banking relationships, oversee investment activities, and coordinate financial audits to ensure the organization's fiscal integrity.
Understanding these core responsibilities helps organizations identify qualified candidates through relevant interview questions that assess financial acumen, attention to detail, and strategic thinking capabilities essential for hiring the best treasurer.
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