The Vice President of Treasury will report directly to the Senior Vice President and Chief Financial Officer and is a key member of the Finance team at the University with respect to treasury operations, debt and investment management.
POSITION SPECIFIC RESPONSIBILITITES:
BOARD OF TRUSTEE REPORTING
Prepare Board resolutions and summaries for new bond issues, related interest rate swap agreements, and new investments requiring Board approval.
Plan and coordinate all materials and mailings for Endowment Committee meetings, Subcommittee meetings, and conference calls. Specific responsibilities include:
Coordinating with the external investment consultant for completion of the quarterly investment performance review;
Coordinating with the external consultant for completion of due diligence materials and recommendations necessary for the Endowment Committee to make investment decisions;
Setting the agenda with the Senior Vice President & CFO and Endowment Committee Chair prior to the committee meetings; and
Providing a quarterly summary of alternative investments and updating the Endowment Committee on the status of these investments.
Present initial and ongoing due diligence reports and investment recommendations to the Endowment Committee on an ad hoc basis.
Provide the Report of the Endowment Committee detailing investment activities and Endowment Committee minutes for the Board mailing on a quarterly basis.
Prepare and present the financial ratio analysis, long-range capital plan, cash summary, and long-term debt summary for the Finance Committee on a quarterly basis.
Serve as the primary contact person for the University's external investment consultant, investment managers, custodian, and other investment service providers.
Coordinate and document the due diligence process for new investment opportunities, including those in the alternative investment area (e.g. private equity, venture capital, hedge fund-of-funds, etc.).
Visit prospective new investment managers conducting and documenting the due diligence process. Make recommendations based upon those visits.
Periodically visit investment managers at their home offices in order to update the due diligence files on said managers.
Coordinate with the external investment consultant regarding investment issues.
Maintain working relationships with external investment managers, including both traditional and alternative investment managers.
Manage the payment and tracking of capital calls and distributions for alternative investment funds.
Oversee the tracking of the University's alternative investments, including IRR's and amounts of capital committed, called, and distributed.
Monitor and project cash flows for the endowment pool (gifts and spending).
Monitor all investment management fees.
Develop and model alternate spending policies to preserve Endowment Corpus and to provide maximum operational support for the University. Coordinate the sale and physical or electronic transfer of restricted and unrestricted investment securities received via distribution from investment managers.
Review and coordinate execution of investment management agreements and other legal documents related to the University's investments.
Monitor and periodically rebalance the University's investment portfolio to target allocation percentages in accordance with decisions made by the Endowment Committee.
Work with the external investment consultant to update the University's investment policy periodically and bring forth any necessary changes for Investment Committee approval.
Manage all Request-for-Proposal (RFP) processes for potential new banks, investment managers and related service providers.
Forecast cash balances to incorporate cash inflows and outflows from major sources.
Monitor daily operating cash balances to ensure an adequate level of cash is available for operating requirements, while maximizing the amount of cash invested (and investment performance) in short-term investments.
Coordinate with Controller's Office the operational cash inflows and outflows, serve as the primary contact person regarding determination of funds available for disbursement and timing thereof.
Update operating cash equivalent investment policy periodically and bring forth any necessary changes for Finance Committee approval.
Maintain key banking relationships and manage the University's electronic banking system.
Working closely with the Controller's office, manage the University's merchant banking processes and procedures, and ensure compliance with card industry standards.
Working closely with the Controller's office, recommend and implement new treasury tools and processes that may further enhance cash flow and internal controls.
Oversee and coordinate the University's issuance of tax-exempt bonds by serving as the primary contact person for these issuances, reviewing all necessary documentation, and drafting appropriate Board of Trustee Resolutions and related documentation. Works with Bond Counsel, Underwriters, Government Agencies, Rating Agencies, and Financial Advisor during the issuance of the debt offerings.
Ensure compliance with the University's bond covenants and reporting requirements with the California Educational Facilities Authority (CEFA), the bond trustee, letter of credit banks, the bond insurer and the rating agency.
Monitor the University's unexpended bond proceeds to ensure compliance with applicable provisions of the Internal Revenue Code which govern arbitrage as it relates to tax-exempt bonds.
Monitor, review, and assess the University's capital structure, including its mix of fixed vs. variable rate debt, cost of capital, and investment earnings on non-core cash balances.
Ensure timely payment of all interest and principal payments for bonds, interest rate swaps, letters of credit, custodian fees, etc.
Assists Senior Vice President with Investor Relations concerning the current and potential investors in the University's trade financing (e.g. CEFA bonds)
Update the University's debt policy periodically and bring forth any necessary changes for Finance Committee approval.
Oversee the University's Short Term Line of Credit by serving as the primary contact person concerning the draws, repayments, and compliance with applicable covenants.
Responsible for financial forecasting associated with cash flows, debt, capital expenditure requirements and prospective debt covenant compliance.
ACCOUNTING and BUDGETING
Assist in preparation of annual financial statement disclosures for the University's investments, and inform the accounting department of certain transactions (e.g. new investments)
Assist in preparation of annual financial statement disclosures for the University's outstanding debt, and inform accounting department of certain transactions (e.g. new issuances)
Provide interest expense and revenue estimates to the budgeting department for annual budget process and long-term planning.
Provide debt service requirements to the budgeting department for annual capital budgeting and long-term planning.
Assist in preparation of Schedule K of Form 990.
Assist in the preparation of the University's Long-Range Capital Plan and prepare the related cash flow and other financial schedules, taking into consideration the University's debt coverage requirements; Campus Master Plan; Capital Campaign; Planning, Budget and Review Process; and capital expenditure policies and procedures as they relate to Treasury management oversight areas.
Identify capital financing requirements for future capital projects based on estimated capital expenditure forecasts and related capital campaign estimates.
Coordinate the Long-Range Capital Plan with the Controller and Facilities Management or Loyola Law School, as appropriate.
Serve as a resource member of the Endowment, Finance, and Facilities Committees as it relates to investments, financial aspects of capital planning, financing, and financial analysis issues related to treasury matters.
Perform other duties as assigned or requested.
Minimum 7 years experience in Treasury, investment analysis/management or other finance related areas.
Demonstrated knowledge in the areas of: treasury management, financial markets, interpreting tax regulations and tax rules, non-profit accounting and monitoring investment activities and opportunities.
Exemplary communication skills (both written and oral) evidenced by background in preparing comprehensive reports and executive summaries incorporating complex, highly technical information.
Highly developed organizational and leadership skills.
Demonstrated computer competency and preferably knowledgeable of Oracle General Accounting.
Typically a Master's Degree in Finance or Accounting or equivalent experience. CPA, CFA, CTP certification highly desirable. Incumbent will be expected to continue upgrading knowledge, skills, and abilities needed to keep abreast of regulation/policy changes.
COVID VACCINATION REQUIREMENT:
To ensure the safety and well-being of our community, Loyola Marymount University requires that all students, faculty and staff are vaccinated or have been approved for a qualifying medical or religious exemption.
Founded in 1911, LMU is a premier Catholic university rooted in the Jesuit and Marymount traditions. Our enrollment includes 5,962 undergraduate, 2,129 graduate and 1,278 law school students. Our 142-acre bluff-top campus is located in West Los Angeles and is among the nation's most beautiful and green campuses.