Treasury Manager in Kansas Career Overview
As a Treasury Manager, you play a vital role in the financial health of an organization. Your responsibilities encompass a broad range of activities aimed at ensuring efficient management of the company’s liquidity and financial resources. The key aspects of your role include:
Cash Management: You oversee daily cash flow, ensuring that the organization has adequate funds to meet its obligations while optimizing cash reserves.
Financial Risk Assessment: You identify financial risks, including market fluctuations and changes in interest rates, and develop strategies to mitigate these risks effectively.
Investment Strategies: You formulate and implement investment strategies to maximize returns on surplus cash while ensuring alignment with the organization’s financial goals.
Bank Relations: You maintain and cultivate relationships with financial institutions and service providers, negotiating terms and securing best practices in banking services.
Compliance and Regulation: You ensure adherence to regulatory requirements related to treasury operations, safeguarding the organization from legal and financial penalties.
Budgeting and Forecasting: You collaborate with other departments to prepare budgets and forecasts, providing insights that aid in strategic financial planning.
Reporting: You prepare detailed financial reports for senior management, offering analysis and insights into the organization’s cash position and financial health.
Your role as a Treasury Manager is critical to maintaining the stability and sustainability of an organization in an ever-changing economic landscape, ensuring that financial resources are managed strategically and effectively.
Treasury Manager Salary in Kansas
Data sourced from Career One Stop, provided by the BLS Occupational Employment and Wage Statistics wage estimates.
Required Education To Become a Treasury Manager in Kansas
To become a Treasury Manager, you will typically need to pursue a bachelor's degree in a relevant field. Here are the recommended degree programs:
Accounting: A degree in accounting provides a solid foundation in financial principles, reporting, and compliance, which are essential for managing a treasury function.
Accounting and Business Management: This interdisciplinary program combines accounting principles with business management strategies, equipping you with skills relevant to treasury management within corporate settings.
Accounting and Finance: This degree offers a blend of accounting knowledge and financial expertise, essential for making informed decisions regarding cash flow, investments, and financial planning.
Banking and Financial Support Services: A program in this field focuses on the operational aspects of banking and finance, preparing you to handle the specific requirements of treasury operations.
Finance: A finance degree covers investment strategies, financial analysis, and capital management, all of which are crucial for a success-oriented treasury management role.
In addition to a degree, it is often beneficial to gain relevant experience through internships or entry-level positions within finance or accounting departments. Some professionals may also pursue advanced degrees, such as a Master of Business Administration (MBA) with a concentration in finance, to further enhance their knowledge and qualifications in the field.
Best Schools to become a Treasury Manager in Kansas 2024
Western Governors University
Southern New Hampshire University
CUNY Bernard M Baruch College
Ohio State University-Main Campus
University of Phoenix-Arizona
Utah Valley University
- Plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.
Treasury Manager Required Skills and Competencies in Kansas
Financial Acumen: You must possess a deep understanding of financial principles, including cash flow management, investment strategies, and debt management. This knowledge enables effective oversight of the organization's financial performance.
Analytical Skills: Strong analytical capabilities will allow you to assess financial data, identify trends, and make informed decisions that drive the organization’s financial goals.
Attention to Detail: Precision is crucial in treasury management. Your ability to ensure accuracy in financial reporting and compliance with regulatory requirements is essential.
Risk Management: You should be adept at identifying potential financial risks and implementing strategies to mitigate these risks, ensuring the organization’s financial stability.
Communication Skills: Effective communication is needed to convey complex financial information clearly to stakeholders, including executives, board members, and outside partners.
Leadership Abilities: You must be capable of leading a team, fostering collaboration, and guiding staff to achieve departmental objectives while maintaining a high level of morale.
Technical Proficiency: Familiarity with financial software and management systems is important. You should be comfortable using tools for data analysis, reporting, and cash flow forecasting.
Problem-Solving Skills: Your capacity to analyze a situation, develop alternatives, and implement effective solutions is vital for addressing financial challenges and optimizing treasury operations.
Regulatory Knowledge: Understanding relevant laws and regulations governing financial operations will help you ensure compliance and minimize legal risks.
Strategic Thinking: You will need to think long-term and align treasury management practices with the broader organizational strategy, enhancing financial sustainability and growth.
Negotiation Skills: The ability to negotiate favorable terms with banks, investors, and other financial partners is essential in managing the organization’s financial resources effectively.
Interpersonal Skills: You should be able to build and maintain strong relationships with internal and external stakeholders, which is crucial for collaboration and effective financial management.
Job Duties for Treasury Managers
Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
Oversee the flow of cash or financial instruments.
Plan, direct, or coordinate the activities of workers in branches, offices, or departments of establishments, such as branch banks, brokerage firms, risk and insurance departments, or credit departments.
Data base user interface and query software
- Microsoft SQL Server
- Yardi software
Enterprise resource planning ERP software
- Oracle PeopleSoft
- Workday software
Presentation software
- Microsoft PowerPoint
Basic Skills
- Listening to others, not interrupting, and asking good questions
- Reading work related information
Problem Solving
- Noticing a problem and figuring out the best way to solve it
Social
- Changing what is done based on other people's actions
- Looking for ways to help people
Job Market and Opportunities for Treasury Manager in Kansas
The job market for Treasury Managers in Kansas is shaped by various economic factors and industry needs. Here’s what you need to know about the current landscape, growth potential, and areas where opportunities abound.
Demand for Treasury Managers: There has been a steady demand for Treasury Managers in Kansas, fueled by the need for organizations to maintain effective cash management and financial risk mitigation strategies. As companies increasingly focus on navigating economic challenges, treasury functions have gained prominence.
Growth Potential: The role of a Treasury Manager is seen as vital for many businesses, resulting in promising growth potential within the sector. As businesses expand and innovate, the requirement for treasury expertise is likely to increase, particularly in industries such as manufacturing, healthcare, and financial services.
Geographical Hotspots:
- Kansas City Metropolitan Area: This region stands out as a hub for financial services and corporate headquarters. You will find numerous opportunities in both large corporations and smaller firms, where a Treasury Manager's role is essential for strategic financial planning.
- Wichita: Known for its aviation and manufacturing sectors, Wichita harbors a growing need for Treasury Managers to handle cash management and investment strategies in these vibrant industries.
- Topeka: As the state capital, Topeka hosts government agencies and non-profits that also require treasury expertise. The demand in this city may not be as high as in larger metropolitan areas but offers a stable number of opportunities.
- Lawrence and Manhattan: These cities are home to several institutions and small to mid-sized businesses that are experiencing growth and may seek treasury management talent to support their financial operations.
Industry Trends: The introduction of advanced technology in financial management is revolutionizing the treasury function. Companies are increasingly looking for Treasury Managers who can leverage data analytics and fintech solutions to enhance decision-making, providing additional avenues for employment.
In summary, the job market for Treasury Managers in Kansas presents a favorable outlook with diverse opportunities across various locations and industries. As the financial landscape evolves, so does the need for skilled treasury professionals who can adapt to change and drive strategic financial initiatives.
Top Related Careers to Treasury Manager 2024
Additional Resources To Help You Become a Treasury Manager in Kansas
Association for Financial Professionals (AFP)
- Website: www.afponline.org
- Description: AFP is a professional organization for finance and treasury professionals. They provide a range of resources, including training, certification programs, and a wealth of industry research.
Corporate Treasurer
- Website: www.corporatetreasurer.com
- Description: This publication offers insights, news, and analysis on treasury management, covering relevant trends and issues facing treasury professionals today.
The Treasury Management Association of Kansas (TMAK)
- Website: www.tmak.org
- Description: TMAK provides networking opportunities, educational resources, and events focused on treasury management in Kansas.
CFO.com
- Website: www.cfo.com
- Description: CFO.com features articles, news, and resources on financial management, including treasury-related topics that are essential for treasury managers.
Global Association of Risk Professionals (GARP)
- Website: www.garp.org
- Description: GARP is dedicated to educating risk management professionals. Their resources include risk assessment methodologies relevant to treasury management.
The Institute of Finance & Management (IOFM)
- Website: www.iofm.com
- Description: IOFM provides education and resources for finance professionals, including a section focused on treasury management best practices.
Scholarship and Certification Programs
- Strategic certification: Certified Treasury Professional (CTP) offered by AFP.
- Website for certification details: www.afponline.org/certification
Industry Reports and White Papers
- Search for treasury management reports at platforms like McKinsey & Company or Deloitte through their respective research sections:
- McKinsey: www.mckinsey.com
- Deloitte: www2.deloitte.com
- Search for treasury management reports at platforms like McKinsey & Company or Deloitte through their respective research sections:
LinkedIn Groups and Forums
- Join groups such as "Treasury Management Network" or "Corporate Finance & Treasury Professionals" on LinkedIn for networking and knowledge sharing.
Books on Treasury Management
- "Treasury Management: The Practitioner's Guide" by Steven M. Bragg.
- "The Essentials of Treasury Management" by the Association for Financial Professionals.
Utilizing these resources can enhance your understanding and effectiveness as a Treasury Manager.
Frequently Asked Questions (FAQs) About Treasury Manager in Kansas
What is a Treasury Manager?
A Treasury Manager is responsible for managing an organization’s liquidity, investments, and financial risk. This role involves overseeing cash management, forecasting, and ensuring that the company has sufficient funds to meet its operational needs.What qualifications do I need to become a Treasury Manager?
Typically, a bachelor’s degree in finance, accounting, business administration, or a related field is required. Many employers also prefer candidates with a master’s degree and professional certifications such as the Certified Treasury Professional (CTP) designation.What skills are essential for a Treasury Manager?
Key skills include strong analytical abilities, attention to detail, excellent communication, and leadership skills. Proficiency in financial software, data analysis, and understanding of financial markets and instruments are also important.What are the typical responsibilities of a Treasury Manager?
Responsibilities often include managing cash flow, optimizing liquidity, developing investment strategies, overseeing bank relationships, preparing financial reports, and ensuring compliance with regulations.Where can I find job opportunities for Treasury Managers in Kansas?
You can look for opportunities in financial institutions, large corporations, and governmental organizations. Websites like LinkedIn, Indeed, and local job boards can be useful resources.What is the salary range for a Treasury Manager in Kansas?
Salaries can vary based on experience, location, and the size of the organization. Generally, Treasury Managers in Kansas can expect to earn between $85,000 to $130,000 annually.What career advancement opportunities are available for Treasury Managers?
With experience, Treasury Managers can advance to senior roles such as Director of Treasury, Chief Financial Officer (CFO), or even other executive leadership positions within the finance department.Is continuing education important for Treasury Managers?
Yes, continuing education is important to stay updated with financial regulations and trends. Pursuing additional certifications or attending workshops can enhance your knowledge and career prospects.What challenges do Treasury Managers face?
Common challenges include managing financial risks, dealing with market volatility, ensuring compliance with regulations, and maintaining accurate forecasting in changing economic conditions.What is the work environment like for a Treasury Manager?
The work environment is typically office-based, and Treasury Managers often work closely with other departments such as accounting, finance, and operations. The role can involve long hours, especially during financial reporting periods or when strategic decisions are being made.