Treasury Accountant Job Description
Treasury accountants monitor cash flow, create financial reports, verify figures, and prepare financial forecasts. Banks and financial institutions hire treasury accountants to work full-time shifts, usually during daytime weekday hours with no, or few, evenings and weekends required. Though treasury accountants ultimately report to the treasury manager, these professionals work with little supervision and function as part of a larger financial team. Treasury accountants may travel to different branch locations to perform their job duties but typically work in office environments within financial institutions.
Treasury Accountant Duties and Responsibilities
The duties required of treasury accountants vary based on their financial institution and the number of accounts they work with on a regular basis. However, these core responsibilities are common in most businesses:
Monitor Cash Balances
Treasury accountants monitor daily cash balances and determine cash requirements needed to cover losses and payments.
Treasury accountants verify that invoices have been paid.
Treasury accountants verify accounts receivable paperwork to balance accounts and ensure that all figures match payment information.
Gather Year-End Information
Treasury accountants gather and compile all year-end financial data to audit figures and determine various financial trends.
Treasury accountants design forecasts predicting the company’s financial future and current financial trends.
Write Financial Data Reports
Treasury accountants write regular reports based on financial data showing incoming and outgoing figures, as well as other relevant information.
Treasury accountants manage investment accounts and create detailed reports showing gains and losses.
Treasury Accountant Skills and Qualifications
Treasury accountants use math skills to work with detailed financial information and create reports based on this data. When hiring treasury accountants, employers seek professionals who have all the following skills:
- Mathematics – treasury accountants use math skills on a daily basis to make calculations and work with financial figures
- Computer skills – treasury accountants use various computer programs to create spreadsheets and access data, which requires good computer skills
- Attention to detail – treasury accountants use attention to detail to verify figures and make accurate calculations
- Analytical thinking – treasury accountants create financial forecasts and financial data reports, making analytical thinking essential for this job
- Communication skills – treasury accountants use written communication skills to create detailed financial reports that others can read and understand
- Time management – treasury accountants use good time management to meet deadlines and complete tasks in a timely fashion
- Organization skills – treasury accountants use organization skills to keep paperwork and financial records neat and orderly
Treasury Accountant Education and Training
Treasury accountants must have a bachelor’s degree in finance, accounting, statistics, business administration, or a related field in order to pursue this career path. Additionally, some employers require treasury accountants to have past experience working in finance. Many employers also require treasury accountants to have specific certification, either as a certified treasury professional (CTP) or a chartered financial analyst (CFA). These designations are issued after successfully completing a certification course and obtaining a passing grade on the certification exam.
Little training is provided to treasury accountants because candidates must already have extensive education and training to apply for this job. Many treasury accountants begin performing their usual duties upon being hired. Some employers provide a brief grace period for newly hired treasury accountants, usually no longer than two weeks, as they familiarize themselves with the institution’s financial data and various accounts.
Treasury Accountant Salary and Outlook
PayScale data shows that treasury accountants earn $55,943 in median annual income. Detailed job information for accountants and auditors compiled by the Bureau of Labor Statistics (BLS) shows that these professionals earn $69,350 in annual median income, or $33.34 hourly. The BLS expects employment in this field to rise 10 percent through 2026. This rate is faster than average.
Full benefits are provided to treasury accountants by a majority of employers. These benefits include health, dental, and vision insurance. Paid vacation and sick days also come standard in most packages.
Use these helpful resources to find treasury accountant job openings, training programs, career opportunities, and workplace strategies:
Association of Corporate Treasurers – founded specifically for treasurers, ACT offers job listings, an online treasuring handbook, information about pursuing a treasury career, training programs, networking events, and career growth opportunities
Accountants’ Guidebook: A Financial and Managerial Accounting Reference – this book simplifies complex financial dynamics to provide an in-depth reference guide for accountants. The text covers basic tasks, common accounting procedures, debt collection, and many other duties performed by treasury accountants
Association for Financial Professionals – learn more about accounting certification programs, explore topics and networking pages, read industry publications, and find career advancement resources at the AFP website
Accountants: The Natural Trusted Advisors – learn methodologies for performing treasury accountant tasks successfully, including financial planning strategies and techniques that promote client satisfaction
Accounting Tools – read articles, listen to podcasts, explore content, and discover courses and books at this website full of various professional accounting tools
Accountants’ Handbook – use this reference book to learn how to perform day-to-day tasks that are essential to treasury accounting
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