Treasury Manager

As the lead liaison between KWPMC, the client, and financial institutions, the Treasury Manager will take the lead as it relates to KWPMC’s commitment to safeguard Association funds, while maintaining liquidity to maintain the Association’s day-to-day operations, and finding ways, when possible, for Associations to earn interest on such funds.

KWPM Culture

As a team member of KW PROPERTY MANAGEMENT & CONSULTING, you are expected to understand and support the mission statement of the company and practice our GREAT values every day. These values include but are not limited to greeting and smiling; showing respect with name recognition and eye contact; accepting the empowerment to exceed everyone's expectations and showing enthusiasm for your position and duties; being accountable to show a positive attitude and accountable for your actions; and be trustworthy in your duties and transparent in everything you do. These are our GREAT values and part of your work practices and expected as part of your daily activities while working at KW Property Management and Consulting.

Duties and Essential Functions

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Duties and essential functions include, but not limited to, the following:

FINANCIAL INSTITUTIONS (PARTNER BANKS)

Continuous

• Foster a professional relationship with the financial institutions with which KWPMC has a Banking Services and Referral Fee Agreement (herein referred to as “Referral Agreement”), namely Bank United, City National Bank, Popular Community Bank, Truist Bank, and Valley National Bank (collectively referred to as “Partner Banks”).
• Become familiar with the Referral Agreement with each Partner Bank, by reading the agreement from time to time and maintaining a side-by-side comparison of the key contractual terms such as contract term, Federal Fund Rate used for calculation, earning credit rates (“ECRs”) by account category, increases based on Federal Reserve rate increases, etc.
• Prepare treasury plans to move funds to Partner Banks while maintaining funds in FDIC[1] Products and under FDIC Limit, while at the same time trying to improve interest earned on funds. Refer to the Interest Rate Sheet produced weekly. Whenever necessary on a case-by-case basis, contact a representative of Partner Bank to work with them to obtain interest rates that are not published in order to retain Association funds within Partner Bank.
• Maintain tracking sheet of treasury plans created and communicated to Associations. Track the association name, reason for review (i.e., non – partner bank balances, Association funds in excess of FDIC Limit, Board driven, etc.), primary banking relationship, amounts in question, proposed treasury plan, date communicated to Board, and final outcome.
• Work closely with Vice-Presidents of Finance to monitor lending opportunities, which typically arise when Associations need to undergo major reports, replacement of capital assets or working capital recovery.
• Continuously monitor Federal Reserve published information on interest rates and factors affecting nationwide financial system and stability by hearing speeches by the Federal Reserve Board of Governors and reading information on the Board of Governors of the Federal Reserve System website: federalreserve.gov..
• In addition, the following fundamental factors must be kept in mind as KWPMC executes this policy:
  • Recognize events that may pose risk to the principle of association funds.
  • Respond with urgency to such risks to avoid any losses.
  • Report in writing the action, findings, and solutions to client.

Weekly

• Obtain updated rate sheet from Partner Banks.
• Forecast, evaluate, and reassess deposits of association funds when events that will generate additional funds occur such as:
• Insurance Claim Proceeds
• 558 Litigation Settlement
• Special Assessment Collections

Monthly

• Upon obtaining the ECRs enter the balances and Federal Interest Rate used into the Master ECRs Worksheet.
• Obtain monthly FDIC Exposure Report from Partner Banks. Partner Banks will a list of provide associations KWPMC manages along with the average bank balances and any funds in excess FDIC limit per association’s federal identification number. If any Associations appear on FDIC Exposure Report, an immediate plan will be put in place to reduce balances which may include adjusting threshold limits within FDIC programs, movement of funds to other partner banks, or initiating FDIC programs if one does not already exist.
• Monitor monthly Bauer Financial Reports that indicate star-rating for banks to monitor Partner Banks have a 4-star rating or above (subscribe to service provided by Bauer Financial to send alerts when partner banks rating change). If any fall below 4-star rating, consider movement of funds.
• Monitor monthly account analysis by looking for material (over 10%) increases or decreases in any grouped account types (i.e., Insured Cash Sweep Accounts, CDs, Interest Bearing Accounts, Non- Interest-Bearing Accounts, and Demand Checking). Document explanations for variances.
• Monitor monthly the Earning Credit Rate (ECR) calculations by account type to ensure compliance with the executed Banking Services and Referral Fee Agreement.
• Forecast ECR earnings for the next 12 months based on estimated movement of funds from non-partner banks and additions of new properties. Provide forecast to KWPMC Controller and Chief Financial Officer.
• Review interest rates earned on non-partner banks to identify interest rates that are lower than those offered by Partner Banks and initiate correspondence with Association to provide the benefits of moving to a Partner Bank, which will include FDIC products and a potential of more favorable interest rates.
• Meet with Senior VP of Finance overseeing loans and review upcoming lending opportunities as tracked on the Loan Tracker Master worksheet to assist with devising a lending plan with Partner Banks.
• Meet with Director of Banking and Transitions to provide the name of Partner Bank for new Associations.

Quarterly

• Meet with the representatives of the Partner Banks to summarize movement of funds, future opportunities, and opportunities for improvement, if any.
• Attend one DM Global Meeting and one Monthly Accounting Manager Meeting to provide banking industry changes affecting Associations and present examples of successful treasury or lending plans approved by boards.
• Attend one Monthly Property Manager Meeting in each region to provide insight on changes in the banking industry affecting Associations and promoting ways Treasury can assist in devising treasury and lending plans.

INSURANCE PARTNERSHIPS

Continuous

• Foster the professional relationship with certain insurance brokers and insurance adjusters, which as of the date of this job description include USI Insurance Services and Global Pro (collectively referred to as “Insurance Specialists”).
• Find opportunities to refer Insurance Specialists to existing and new associations when association has a need for their services and products.
• As needed and immediately as events such as Hurricane occur, meet with Insurance Specialist to find opportunities on how to provide services to affected Associations. Visit Associations with Insurance Specialists and monitor the services offered for these extraordinary events by:
  • Visiting the Association while Insurance Specialists are doing work.
  • Meet with the Association Board to provide updates on services and ensure Insurance Specialists are meeting expectations.

            Monthly

• Maintain Insurance Master file inclusive of two tabs: (1) Association Insurance with terms and existing agents and (2) Association events that require the services of Global Pro.
• Meet with Chief Operating Officer to provide overall services offered and opportunities to offer services to Associations.
• Host meetings with the assigned representatives from the Insurance Specialist to review upcoming renewals or opportunities forecasting three months in the future, e.g., Association insurance policies expiring within the future 3-month period.
• Attend DM Meetings to present industry changes and/or speak regarding benefits offered by Insurance Specialist.

Quarterly

• Attend property manager meetings with one or both Insurance Specialists to inform the group on industry updates and promote services.

Semi-Annually

• Join a monthly webinar hosted by KWPMC to address insurance related industry changes alongside representatives from Insurance Specialists, promoting their services.

REPORTING AND METRICS

The Treasury Manager must maintain the following reporting and metrics to assist in providing monthly updates to CEO, President, CFO and his/her direct report:

• Monthly ECRs Tracking Sheet inclusive of balances by account categories and ECRs calculated for the month by partner bank
• Monthly Treasury Tracking Sheet to include association, who was meeting with, existing balances and specifics on current bank and interest rates and details on the treasury plan presented
• Monthly Loan Tracking Sheet to include association, list of banks being considered, key terms (such as loan amount, closing costs, interest rate, specific loan provisions) and opportunity
• Monthly FDIC Exposure Report for all Partner Banks and Non-Partner Banks
• Quarterly maintain a Bauer Rating worksheet per partner bank
• Monthly tracking the insurance referral and insurance adjuster opportunities created to include association name, insurance policy renewal date, whether or not USI was chosen as agent, and amount of premiums.

Supervisory Responsibility

• Employee reports directly to the Executive Vice-President of Association Finance.

Work Environment

The employee will have an office in the corporate headquarters located in Doral, Florida. 

Physical Demands

This position will not require any lifting or physical activity more than required in an office setting.

Position Type/Expected Hours of Work

This position is a salary position.  The standard office hours are Monday – Friday 8:30-5:30 pm.  As needed, the employee will be expected to meet with clients either in person or virtually. 

Travel

This position will require travel in the areas the company and its affiliates transact business.

Required Education and Experience

The following are requirements an employee must have:

• 3 to 5 years work experience in a related field.
• Bachelor’s degree in business administration
• Must demonstrate strong organizational skills and a commitment to customer service.
• Must have ability to prioritize and multi-task.
• Must be proficient in Microsoft Office (e.g., Excel and Word.)

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.

Receipt and Acknowledgement

The above statements are intended to describe the general nature and level of work being performed. It is not intended to be an exhaustive list of all responsibilities, duties, or skills necessary for this position. Specific responsibilities, duties and/or skills may change at any time. Receipt of the position description does not imply or create a promise of employment, nor an employment contract of any kind. I hereby acknowledge that I have read and understand this document.