Treasury Clerk

Job Overview

The Treasury Clerk is responsible for managing daily financial transactions and ensuring the accuracy of financial records. This role involves processing payments, reconciling bank statements, and maintaining cash flow records. The clerk must also assist in preparing financial reports and support the treasury team in managing the organization’s liquidity. A key objective is to ensure timely and accurate financial operations, contributing to the overall financial health and efficiency of the organization. Additionally, the Treasury Clerk may be required to liaise with banks and other financial institutions to resolve discrepancies and facilitate smooth financial operations.

Organizational Impact

The Treasury Clerk plays a vital role in maintaining the financial health and operational efficiency of the organization by accurately managing cash flow, processing payments, and reconciling accounts. This position supports the treasury and finance teams by ensuring timely and precise handling of transactions, which directly contributes to effective liquidity management and risk mitigation. By upholding compliance with financial regulations and internal controls, the Treasury Clerk helps safeguard the organization's assets and supports strategic financial decision-making, ultimately driving the organization's stability and growth.

Key Systems

A Treasury Clerk typically utilizes financial management and accounting software such as SAP, Oracle Financials, or Microsoft Dynamics GP for transaction processing and reconciliation. They often work with banking platforms for electronic funds transfers and cash management, as well as treasury management systems (TMS) like Kyriba or GTreasury. Additionally, proficiency in Microsoft Excel for data analysis and reporting is essential, alongside enterprise resource planning (ERP) systems and internal communication tools to coordinate with finance and accounting teams.

Inputs

A Treasury Clerk typically receives a variety of financial documents and data essential for managing an organization's cash flow and banking activities. These inputs include bank statements, payment instructions, invoices, receipts, transaction records, and internal requests for fund transfers. Communication often arrives via email, internal financial systems, and occasionally through phone calls or in-person requests from other departments such as accounting, finance, or operations. The role requires careful attention to detail when handling these inputs to ensure accuracy and compliance with company policies and regulatory standards.

Outputs

The outputs of a Treasury Clerk’s work consist of accurately processed payment transactions, reconciled bank statements, updated cash flow reports, and timely communication of treasury-related information to relevant stakeholders. These deliverables are typically shared through secure financial software platforms, email correspondence, and internal reporting systems. The outputs must adhere to strict deadlines and regulatory requirements, reflecting a high level of precision and reliability to support the organization’s financial stability and operational efficiency.

Activities

- Process daily cash receipts and disbursements accurately and timely.

- Reconcile bank statements and resolve discrepancies.

- Maintain records of all treasury transactions and update financial systems.

- Assist in preparing cash flow reports and forecasts.

- Support the treasury team in managing short-term investments and liquidity.

- Coordinate with banks and financial institutions for transaction processing.

- Ensure compliance with internal controls and regulatory requirements.

- Prepare documentation for audits and assist with audit inquiries.

- Monitor and report on cash positions and banking activities.

- Collaborate with accounting and finance departments to ensure accurate financial

Recommended Items

- Treasury operations manual detailing standard procedures and controls.

- Access to financial management and treasury software systems.

- Bank reconciliation templates and cash flow forecasting tools.

- Training on internal control policies and regulatory compliance.

- Checklists for daily, weekly, and monthly treasury tasks.

- Documentation on company banking relationships and authorized signatories.

- Quality assurance standards for transaction processing and record keeping.

- Onboarding guide covering company financial policies and treasury team structure.

Content Example

- Daily cash position reports and bank reconciliation statements

- Payment vouchers and remittance advices

- Treasury transaction logs including wire transfers and ACH payments

- Cash flow forecasts and liquidity reports

- Compliance documentation related to banking regulations and internal controls

- Correspondence with banks and financial institutions regarding account activities

- Audit trail records for treasury operations

- Internal reports on treasury performance metrics and variance analyses

Sample Event-Driven Tasks

- Processing incoming payment instructions upon receipt from accounts payable or receivable teams

- Reconciling discrepancies identified during daily bank statement reviews

- Responding to bank inquiries or alerts regarding unusual account activities or holds

- Executing wire transfers or electronic payments triggered by approved payment requests

- Updating cash flow forecasts in response to unexpected large transactions or changes in funding requirements

- Coordinating with auditors during treasury audits when requested documentation or explanations arise

- Addressing compliance issues flagged by internal controls or regulatory reviews

- Adjusting treasury records following corrections or adjustments communicated by banking partners

Sample Scheduled Tasks

- Process daily cash receipts and deposits, ensuring accurate recording in the treasury management system.

- Reconcile bank statements with internal records on a monthly basis to identify and resolve discrepancies.

- Prepare and distribute daily cash position reports to treasury and finance teams.

- Monitor and update cash flow forecasts weekly to support liquidity management.

- Conduct scheduled audits of petty cash and other cash handling processes to ensure compliance with company policies.

- Coordinate with accounting to verify and record intercompany transfers and payments.

- Maintain and update vendor and customer payment schedules to ensure timely processing.

Sample Infill Tasks

- Review and update treasury process documentation and standard operating procedures to enhance efficiency.

- Participate in training sessions on treasury software and financial regulations to improve technical skills.

- Assist in preparing documentation for internal and external audits related to cash management.

- Analyze historical cash flow data to identify trends and suggest improvements in cash handling.

- Support the treasury team in ad hoc financial reporting and data analysis projects.

- Collaborate with IT to test and implement upgrades or new features in treasury management systems.

- Engage in cross-departmental meetings to better understand company-wide financial operations and controls.