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Job Title: Treasurer
Type of Company: A textile manufacturer.
Education: BA, Accounting, Rivier College •• MBA, Rivier College
Previous Experience: I went from being an accountant for a garment manufacturer to the company's chief financial officer. After that, I was a consultant for financially distressed companies and ended up joining one as its treasurer.
Job Tasks: I am responsible for the day-to-day financial activities of the company. We receive money (referred to as "accounts receivable") from our customers and we pay money out to our suppliers and vendors ("accounts payable"). We pay our employees ("payroll"). We create cash flow projections of the receipts and payments which tell us where we may have a surplus or shortage of cash and we have to figure out the best ways to manage our cash to ensure that we can make our payments on schedule.
I am actually the manager of treasury which entails having the accounts payable, payroll and cash management (interactions with the bank) working for me. Since I manage these groups I don't have a specific responsibility each day. Instead, I direct, assist and improve processes on an ongoing basis. I work to streamline and enhance current operating procedures and interact closely with the information systems and technology group on programming enhancements and the creation or modification of reports. When any of these areas has a problem I help to fix them, either with a program enhancement/change or with a review of the situation and determination of the best course of action to improve the situation.
Best and Worst Parts of the Job: The best part of my job is that I enjoy what I do and look forward to coming to work. I contribute to the health and well-being of the organization. My hours are flexible and I normally work only four days a week.
The worst part is having to coordinate with several departments and dissect the problems they've had in order to implement changes. The changes take a lot longer to make than I would like.
Job Tips: Strive to get a higher education. Don't be afraid to ask lots of questions and try to understand as many facets of an organization as possible. Understanding other departments will help improve your understanding of your organization, which in turn will bring value to your job. You can bring all the information you've amassed to any organization.
Additional Thoughts: I think anyone considering a job working in an accounting department should have an accounting degree, not a finance degree. The accounting degree is much more focused on the day-to-day transactions whereas the finance degree is far less specific. To do a job like mine you would have to have an ability to manage people and interpret cash flows. You have to be smart, adaptable and respected. I think anyone wishing to be a manager in an accounting/finance department should have a MBA.
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