Treasurer duties and responsibilities
A Treasurer has a critical role in the committee responsible for managing finances for the institution. They may also work with a professional accountant to file taxes and to ensure the accuracy of finances. Some responsibilities a good Treasurer should be able to complete regularly in any industry include:
- Manage incoming payments
- Deposit received funds
- Write outgoing cheques
- Document all business financial transactions
- Manage formal reports and company bank statements
- Oversee and approve all financial plans or revisions to plans
- Plan and ensure adherence to the pre-determined financial budget for the year
- Ensure the protection of funds from any potential misuse by any other members of the committee
Treasurer skills and qualifications
To successfully manage this crucial role, an exceptional candidate should have strong analytical skill sets and basic accounting knowledge. Common qualifications to look out for in a candidate include:
- Excellent organizational skills regarding documentation and file or record-keeping
- Strong verbal and visual financial reporting skills
- Exceptional ability to communicate complex financial information
- Valuable time management and prioritization skills
- In-depth knowledge of software tools used by the committee
- Solid understanding of budget planning and finance
- Substantial value for ethics and trustworthy operations
- Experience using different methodical approaches for managing finances
Treasurer experience requirements
A good Treasurer will typically have at least three years of professional experience in finance or budget planning. Experience in accounting is also a valuable asset for helping with the management of your company’s finances. If your business is smaller, you may have shorter experience requirements for candidates.
Treasurer education and training requirements
An outstanding Treasurer candidate has a Bachelor’s degree in finance, business administration, economics, or another related discipline. A Master’s degree in finance or a business-related discipline is a strong asset to the position. In some cases, you may require the Treasurer to be bonded to ensure they will fulfill their duties ethically. Hiring a bonded Treasurer gives you additional assurance that your money is going to be properly and safely handled.
Treasurer salary expectations
The average salary of a treasurer is $83,860 per year. Individual salary numbers may vary depending on experience level or location. Please note this average is based on fewer than 100 reported salaries.
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