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Director of Cash Management- Commercial Banking (Job Number: 3099648)
Founded by Brigham and Women’s Hospital and Massachusetts General Hospital, Partners HealthCare supports a complete continuum of care including community and specialty hospitals, a managed care organization, a physician network, community health centers, home care and other health-related entities. Several of our hospitals are teaching affiliates of Harvard Medical School, and our system is a national leader in biomedical research. As a not-for-profit organization, Partners HealthCare is committed to supporting patient care, research, teaching, and service to the community by leading innovation across our system. We’re focused on a people-first culture for our system’s patients and our professional family. That’s why we provide our employees with more ways to achieve their potential. Partners HealthCare is committed to aligning our employees’ personal aspirations with projects that match their capabilities and creating a culture that empowers our managers to become trusted mentors. We support each member of our team to own their personal development—and we recognize success at every step. Our employees use the Partners HealthCare values to govern decisions, actions and behaviors. These values guide how we get our work done: Patients, Affordability, Accountability & Service Commitment, Decisiveness, Innovation & Thoughtful Risk; and how we treat each other: Diversity & Inclusion, Integrity & Respect, Learning, Continuous Improvement & Personal Growth, Teamwork & Collaboration.
Under the direction of the VP, Treasury and in consultation with Partners HealthCare functional area leaders and affiliate finance leaders, the Director, Cash Management & Commercial Banking develops, implements and manages the policies & procedures, relationships, contracts, and systems required to set, monitor and achieve strategic goals and operational best practices for cash management and commercial banking activities.
PRINCIPAL DUTIES AND RESPONSIBILITIES
- Oversees the preparation of operating entity and consolidated (system) cash forecasts, daily cash positioning, processing electronic payments and the maintenance of a treasury workstation to coordinate the movement and recording of cash transactions among banks, custodians, and general ledgers.
- Establishes and maintains a high performing and cost-effective network of systems and service providers for cash management activity; validates costs and service quality vs. industry benchmarks and customer satisfaction.
Commercial & Merchant Banking
- Develops & maintains relationships with commercial banks; in consultation with stakeholders across the organization, identifies opportunities and implements solutions that address organizational needs.
- Maintains banking authorizations; coordinates the opening & closing of bank accounts and services.
- Optimizes bank account structure (fees & services) across the organization.
- Establishes and monitors Service Level Agreements for banking services.
- Develops & maintains relationships with merchant banks and payment gateway providers; in consultation with stakeholders across the organization, identifies opportunities and implements solutions that address organizational needs.
- In conjunction with IS Security, oversees system-wide Payment Card Industry (PCI) compliance and related training programs.
- Manages the Cash & Banking team, including an Assistant Cash Manager and three analysts.
- Oversees periodic reporting of Treasury-related key performance indicators and dashboards.
- Identifies and pursues opportunities to improve processes, procedures and controls surrounding cash movement, bank balance/fee monitoring and other Treasury-related activities in conjunction with internal and external stakeholders.
- Maintains policies & procedures related to cash management and operations, credit card payment processing and PCI compliance.
- Manages internal and external audits for cash and banking matters.
- Develops and implements integration plans for cash and commercial banking matters in connection with new affiliations and growth initiatives.
- Responsible for maintaining business continuity/contingency plans for cash management & commercial banking activities.
- Supports various Partners HealthCare departments including Accounts Payable, Payroll, Revenue Cycle Operations, Accounting, Capital Markets and the Investment Office.
- Performs a variety of other financial, administrative and technical projects, duties and responsibilities as assigned.
EDUCATION / EXPERIENCE:
- Bachelor’s degree in Finance or related field required; MBA preferred.
- Certified Treasury Professional (CTP) designation preferred.
- 5-10 years management responsibility in a corporate Treasury and/or
commercial banking role.
- Thorough understanding of corporate banking operations, including payment processing, lock box, merchant processing and PCI compliance.
- Operating experience with online bank platforms and Treasury management systems.
- Experience supporting the evaluation and implementation of financial
SKILLS AND ABILITIES:
- Service driven, with proficiency navigating and negotiating within a complex, consensus-oriented, high-performing organization.
- Ability to generate practical, sustainable and creative options to solve problems and create business opportunities, while maximizing existing resources.
- Proactively develops and maintains technical knowledge in specialized areas, remaining up-to-date on current trends and best practices; leverages expertise & resources to produce solutions that enhance performance.
- Ability to conduct and interpret financial analyses, particularly as related to budgets, financial statements and cash flow forecasts.
– Proficiency with analytical and spreadsheet software (Excel).
- Strong interpersonal skills, including the ability to build and nurture strong relationships with peers, executives, and external partners.
- Cognitive, written and verbal skills that enable the incumbent to communicate, consult and negotiate with all levels of the corporation as well as external constituents.
Manages Treasury’s Cash Management & Commercial Banking team (4 FTEs).