Cash Manager (Immediate Opening)
Treasury Department, Business Office
IDEA Public Schools
The Business Office at IDEA Public Schools strives to support leadership as we work together to meet and exceed our ambitious financial and student achievement goals. The Business Office’s Treasury Team aims to serve as the heart of IDEA’s financial growth engine by providing best-in-class leadership in the areas of real estate, debt financing, cash and investment management, and financial modeling.
As the Cash Manager, you will be responsible for assisting in day-to-day cash monitoring, forecasting and banking activities for IDEA Public Schools, Inc. and related entities across Texas and non-Texas regions. This is a full-time, 40-hour-per-week position based in Texas with preference given to candidates who live in Austin, El Paso, Houston, Rio Grande Valley, San Antonio, or Tarrant County, or who are willing to relocate. The role will begin in October 2022 and require limited (less than 10%) travel, primarily for team meetings, conferences, and professional development events. The position will form part of an expanding Treasury Department offering career growth opportunities.
Compensation & Benefits:
Salaries for people entering this role typically fall between $60,500 and $72,600, commensurate with relevant experience and qualifications and in alignment with internal equity. This role is also eligible for a performance bonus based on individual and organizational performance and goal attainment.
Additionally, we offer medical, dental, vision, and supplemental benefits, as well as retirement plans and a generous vacation package. You can find more information about our benefits at https://ideapublicschools.org/careers/benefits/.
* IDEA may offer a relocation stipend to defray the cost of moving for this role, if applicable.
In this role you will:
· Monitor daily banking duties carried out by IDEA’s accounting team, such as the sending of wires and ACH transactions, as well as oversee each day’s balances for all banking accounts.
· Manage the organization’s annual and rolling 13-week cash forecasts to ensure sufficient liquidity to pay weekly expenditures, including payroll, accounts payable, debt service payments, and capital expenditures.
· Lead the set-up and maintenance of all depository and investment banking accounts, including managing access requests and account signature authorities.
· Prepare monthly, quarterly, and annual analysis and reconciliation reports of investment and banking activity for IDEA leadership and governing Boards.
· Ensure compliance with state Public Funds Investment Act regulations, as well as internal cash management controls and policies.
· Manage relationships with key banking partners.
· Assist with other projects, as directed by the Director of Treasury and VP of Treasury.
• Bachelor’s Degree in business administration, public/non-profit administration, accounting, finance, economics or related field AND 1-3 years in treasury, accounting, banking, public/non-profit management, or related field;
• Or any combination of related education, experience, certifications and licenses that will result in a candidate successfully performing the essential functions of the job
As part of the Treasury team, you will contribute to reaching the following ambitious goals:
- At 6/30/23, achieve no less than the following Days Cash on Hand for IDEA-related entities:
- Texas: 135
- IPS: 30
- FL: 30
- EBTR: 45
- CIN: 30
- At 6/30/2023, achieve no less than the following net available revenues (operating income) for IDEA-related entities:
- Texas: $106MM
- IPS: $13MM
- FL: $3MM
- EBTR: $1.2MM
- CIN: $700K
- Affirm a credit-worthy S&P rating for IDEA Public Schools, Inc. (Texas)
- Achieve a financial score acceptable for EBTR renewal
- Achieve no material weaknesses in internal controls related to Board-approved policies
Diversity, Equity and Inclusion
At IDEA we recognize that racism, bias, and privilege exist in society. We are committed to an organizational culture that promotes awareness, kindness, and inclusivity for our students and staff, and supports their path to positively impact our broader society. We are committed to recognizing the impact of racism and privilege, and commit as an organization to have equitable practices, policies, and structures.
Visit https://ideapublicschools.org/dei/ to learn about IDEA’s Diversity, Equity and Inclusion Anti-Racist and Anti-Bias commitment.
Learn more about IDEA
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IDEA Public Schools does not discriminate on the basis of race, color, national origin, age, sex or disability, in admission or access to, or treatment of employment in its programs and activities. Any person having inquiries concerning the organization's compliance with the regulations implementing Title VI of Civil Rights Act of 1964 (Title VI), Section 504 of the Rehabilitation Act of 1973 (Section 504), or Title II of the Americans with Disabilities Act of 1990 (ADA), may contact IDEA Human Resources at (956) 377-8000.