Cash Management Officer Jobs

Make a direct impact on our community’s financial future as our next Cash and Investment Officer! In this high-visibility role, you will manage the City’s daily liquidity, direct investment portfolio strategies, manage debt service obligations, and contribute to year-end financial reporting under limited supervision. We are seeking an analytical problem-solver who excels in complex Excel modeling, cash flow analysis, and GAAP/GASB/BARS compliance. Qualifications include a Bachelor’s degree in Finance, Accounting, Economics, or a related field, plus at least 3 years of professional accounting, investment, or financial analysis experience (municipal government experience and CPA/CMA credentials preferred). If you bring strong technical expertise and are ready to advance your career in public service, apply today to join our team!

There is one full-time position available, represented by the AFSCME union.

An unranked eligibility list may be established at the conclusion of the selection process that would then be in effect for up to 12 months.

The recruitment process for this position will include at least one panel interview.

Applications will be accepted through Monday, November 23rd.

**Please note that you must attach your cover letter and resume to your application in order for your application to be considered complete. Uploading your resume to auto-fill portions of the application does not automatically attach it to your application. Incomplete applications will not be considered for this position. If you experience technical difficulties, please contact our office Monday-Friday, between 8:00 AM- 5:00 PM at (253) 856-5270 and we will do our best to assist you.**

SALARY:

$8,693.00- $10,591.00 per month, depending on experience

For a listing of benefits, please use the following link: Employee Benefits | City of Kent (kentwa.gov)

Additional information may also be found in the AFSCME contract, which you can access at Human Resources | City of Kent (kentwa.gov)

GENERAL PURPOSE:

Under the direction of the Accounting Manager, perform a variety of fiscal and financial analysis of cash flow and investment planning for the City’s Cash, Investments and Debt Portfolios; perform senior level professional, technical and analytical duties; ensure citywide accounting practices in the areas assigned are in compliance with generally accepted accounting principles (GAAP), state and federal guidelines and established City policy, procedures and standards.

Work is characterized by senior professional level financial functions. Duties and responsibilities include, but are not limited to, financial trends monitoring, special projects, timely and accurate investment decisions based on thorough analysis of the City’s cash and investment data; related year-end closing and reporting tasks as part of the City’s Annual Comprehensive Financial Report (ACFR) preparation process, ensuring compliance with GAAP, governmental accounting standards (GASB), state and federal laws, rules, regulations, and City policies and procedures regarding accounting, investment, debt, and financial recordkeeping. Incumbent is required to use complex spreadsheet models in analyzing financial data. Work is sometimes subject to tight deadlines and requires the incumbent to work well under pressure.

Work is performed under limited supervision. Supervisor sets the overall objectives and resources available. Incumbent and supervisor work together to develop deadlines, projects, and work to be completed. Incumbent plans and carries out the assignment, resolves most conflicts that arise, coordinates work with others, provides leadership and training to assigned staff, and interprets policies on own initiative in terms of established objectives. Incumbent keeps supervisor informed of progress, potentially controversial matters, or far-reaching implications. Work is reviewed for effectiveness of results.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Manage City’s long/short term investment and cash flow portfolio; independently research computerized and other data sources to identify market trends and factors; evaluate future cash flow needs; confirm recommendations and purchase investments.

Review cash position daily by analyzing a variety of data related to the City’s bank account such as payroll, accounts payable checks, investment interest/principal payments and wire transfer activity; make determinations to invest, hold, or liquidate funds. Initiate wire and ACH transfers.

Record year-end accrual entries in accordance with modified and full accrual accounting, compiling required statements and schedules, and preparing cash, deposits, and investment related financial statements including trial balance entries, required state schedules, supplemental information and notes to the financial statements.

Manage the City’s debt portfolio including recording of new or refunded debt, tracking and recording debt service payments in a variety of governmental and proprietary funds, maintaining amortization schedules, recording year-end accrual entries in accordance with modified and full accrual accounting, compiling required statements and schedules, and preparing debt related financial statements including schedules of long-term liabilities, supplemental information and notes to the financial statements.

Compile and report debt related information for budgeting purposes.

Reconcile, amortize, and prepare journal entries for a variety of cash, investment, debt, revenue and expenditure transactions as well as amortized investments, accrued interest/capital gains, and reinvested interest to adjust year-end book values accordingly.

Coordinate debt service payments with fiscal agent; track and maintain accurate documentation on outstanding Bond issues; resolve discrepancies with payment amounts and/or dates. Act as liaison with bank and fiscal agent.

Assist with implementation of GASB standards in all areas with particular emphasis in the areas of cash, deposits, investments, and debt.

Analyze cash deficits and work with departments to improve cash flow; perform interfund transfers to cover negative cash balances.

Regular and reliable attendance is essential for this position to ensure continuity and fiscal responsibility of the City’s financial position. Banking and investment transactions occur daily and must be handled timely.

Coordinate with City personnel to provide information and assistance regarding the investments and debt process; provide input and make recommendations regarding efficiency and effectiveness of the investments and debt management processes.

Prepare Cash and Investment, Outstanding Debt and Long-term Investments schedules for monthly financial summary report.

Participate in the evaluation of financial processes, recommend changes and improvements of business and automation processes with systems changes and

output, as needed.

Serve as functional specialist to implement automated systems and processes related to investments and debt management.

Develop and utilize complex spreadsheets and summary reports in analysis of cash flow, investments, and debt.

Develop and prepare financial reports and trend analysis; develop computer spreadsheet and database models and graphs.

Perform special projects including but not limited to assisting with investment, debt management, general ledger, and other department policy development; assisting with bidding of banking services and/or extension of contracts.

Actively support the vision, mission, values and goals of the department and the City.

PERIPHERAL DUTIES:

Perform related duties as assigned.

KNOWLEDGE, SKILLS AND ABILITIES:

KNOWLEDGE OF:

• Generally Accepted Account Principles (GAAP)
• Government Accounting Standard Board Statement (GASB)
• Budgeting, accounting and reporting system (BARS)
• Generally Accepted Governmental Auditing Standards (GAGAS)
• Municipal government policies, procedures, structure, applicable local, state and federal laws, codes, regulations and ordinances
• Principles and practices of investments and financial management
• Principles and practices of governmental budgeting and accounting procedures and practices
• Correct usage of English grammar, spelling, punctuation and vocabulary as it pertains to the job
• State, local sales and use tax rules, regulations and rates
• Municipal financial research and analysis methods and techniques
• Laws, rules and regulations related to accounting in government operations
• Budgeting and forecasting techniques
• Statistical principles, including sampling techniques and regression analysis
• City organization, operations, policies and objectives
• Data processing applications for accounting procedures
• Integrated computerized financial management systems and applications

SKILLED IN:

• Using system software to develop complex spreadsheets and conduct financial analysis
• Performing financial analysis and forecasting; applying and interpreting statistics
• Applying principles and practices of financial and investment management to the effective operation of municipal government accounting
• Analyzing and understanding complex financial and related data; identifying and describing current and emerging trends and understanding the effect of unrelated events on financial markets
• Effective organization and expression of thoughts, ideas and technical financial information orally and in writing
• Using effective interpersonal skills in a tactful, patient and courteous manner
• Speaking effectively and presenting financial information before groups of outside individuals and City employees, managers or officials
• Effective prioritization and completion of tasks and deadlines

ABILITY TO:

• Work effectively on several projects concurrently
• Establish and maintain trust, confidence and effective working relationships with brokers, financial and investment managers, co-workers, supervisors, and employees within and outside of the department
• Add, subtract, multiply, divide; compute fractions, ratios, percentages, proportions; calculate and apply complex tax formulas
• Define problems, collect data, establish facts and draw valid conclusions; apply common sense understanding to solve practical and complex problems; and deal with a variety of variables in situations where only limited standardization exists
• Analyze and solve complex technical accounting and financial problems
• Plan, organize and oversee assigned work programs, including monitoring legal requirements
• Quickly synthesize data from a wide variety of sources into rationale for investment decisions
• Quickly and independently make difficult investment decisions that could have significant long-term impact on the City’s financial status
• Deliver high-quality results independently while contributing to and supporting team objectives. Must be a team player.
• Identify, obtain, implement and utilize the most comprehensive sources of data about financial markets
• Develop, implement, and maintain internal records that track activity in the City investment programs and prepare reports
• Read, interpret, apply and explain codes, rules, regulations, policies and procedures
• Plan and organize work to meet schedule and timelines

SKILLS FOR THE POSITION MAY BE GAINED THROUGH EDUCATION, CERTIFICATION, RELEVANT JOB EXPERIENCE or a COMBINATION, SUCH AS:

Education: Bachelor's degree in Finance, Accounting, Economics or closely related field; and

Experience: Three (3) years of professional accounting, investments, financial analysis or related experience.

LICENSES AND OTHER REQUIREMENTS:

• Certified Public Accountant (CPA) or Certified Management Accountant (CMA), preferred

• Two (2) years of municipal or government accounting, investment or financial analysis is highly preferred
• Incumbent must demonstrate exceptional knowledge and skill in utilizing computer applications such as Excel spreadsheets and Access database software to handle large amounts of data and correlate such data as necessary to perform budget analysis
• Incumbent must also demonstrate excellent writing and interpersonal skills

MACHINES, TOOLS AND EQUIPMENT USED:

Typical business office machinery and equipment including, but not limited to, personal computer including spreadsheet, database, and word processing software, printers, telephone, fax machine, copy machine, calculator, and complex integrated financial systems and software.

May also be required to operate a City vehicle to attend off-site meetings and perform related duties as assigned.

PHYSICAL DEMANDS:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; and talk and hear. The employee is frequently required to type on a keyboard. The employee is occasionally required to stand; walk; reach with hands and arms; climb or balance; and stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 30 pounds.

Specific vision abilities required by this job include close, distance, color, and peripheral vision; depth perception; and ability to adjust focus.

WORKING CONDITIONS:

Work is performed in a typical office environment, subject to multiple interruptions by telephones and interoffice activities. While performing the duties of this job, the employee may be exposed to individuals who are difficult and/or irate. The noise level in the work environment is usually moderate.