Director, Treasury

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The Director, Treasury is a senior finance leader responsible for the strategic and operational oversight, governance, and execution of all treasury and investment activities, and certain debt-related and capital asset activities for Covenant Living Communities and Services (CLCS). Based at the corporate office, this role ensures the effective stewardship of organizational liquidity and financial assets in support of CLCS's mission and long-term financial sustainability. This position leads the administration and oversight of the CLCS Investment Fund, serves as the primary liaison with the Outsourced Chief Investment Officer (OCIO) and investment custodian, and ensures alignment with the organization's investment policies and risk tolerance. The Director also oversees cash management operations, trustee-held and statutory reserve funds, certain capital asset activities, and all debt-related obligations, including certain treasury related covenant compliance and reporting. The Director serves as a key advisor to executive leadership and the Board Investment Committee, providing insightful analysis, strategic recommendations, and supporting strong governance practices. This role also provides leadership and development for treasury staff, including direct supervision of the Manager, Treasury.

Essential Responsibilities:

• Provide strategic leadership for all treasury and investment functions, ensuring alignment with organizational objectives, risk tolerance, and regulatory requirements.
• Oversee the administration and performance of the CLCS Investment Fund in coordination with the OCIO, including asset allocation, performance monitoring, liquidity planning, and rebalancing activities.
• Evaluate investment strategies and recommend enhancements to optimize returns while preserving capital and supporting operational liquidity needs.
• Serve as primary liaison with OCIO, custodians, and banking partners.

Portfolio & Fund Management

• Oversee all investment portfolios outside the CLCS Investment Fund, including legacy funds, trustee- held funds, and statutory reserve funds.
• Ensure compliance with bond indentures, regulatory requirements, donor restrictions (if applicable), and internal investment policies.
• Monitor investment performance across all portfolios and prepare consolidated reporting for leadership and the Board.

Cash & Liquidity Management

• Direct enterprise-wide cash management strategy, including oversight of more than 100 bank accounts and daily liquidity positioning.
• Optimize cash flow forecasting, working capital management, and short-term investment strategies.
• Ensure effective banking structures, controls, and relationships to maximize efficiency and minimize financial risk.

Debt & Capital Management

• Oversee all aspects of debt administration, including timely debt service payments, covenant compliance, and reporting to lenders and trustees.
• Maintain detailed understanding of bond indentures, loan agreements, and credit facilities.
• Support strategic financing initiatives, refinancing opportunities, and capital structure optimization.

Governance & Board Engagement

• Serve as primary staff liaison to the Investment Committee of the Board of Directors.
• Ensure adherence to Investment Committee charter and governance best practices.
• Track and follow up on Committee action items, recommendations, and inquiries.

Capital Activities

• Participate in coordination of long-range capital planning by working with Controllership, FP&A, and Operations
• Support capital planning for annual debt capacity studies

Risk Management & Compliance

• Ensure treasury and investment activities are conducted in accordance with organizational policies, regulatory requirements, and industry best practices.
• Oversee internal controls related to cash, investments, and debt to safeguard assets and ensure financial accuracy.
• Support external audit processes and provide documentation and analysis related to cash, investments, and debt.

Leadership & Talent Development

• Lead, mentor, and develop the Manager of Treasury, fostering a high-performing, collaborative team environment.
• Establish robust onboarding, training, and continuous development programs to build treasury expertise and leadership capacity.
• Identify opportunities to enhance processes through automation, standardization, and technology.

Education and Work Experience:

• Required Degree: Bachelor's degree in Finance, Accounting, Economics, or related field
• Preferred Degree: Master's degree in Finance, Accounting, Economics, or related field
• Preferred Certificate(s): CFA/CPA
• Experience: 7–10+ years of progressive experience in treasury, investments, or corporate finance, preferably within healthcare, senior living, or nonprofit environments.
• Demonstrated experience managing large, diversified investment portfolios (ideally $250M+).
• Strong knowledge of debt structures, bond financing, and covenant compliance.
• Experience working with OCIO models and institutional investment frameworks.
• Proven ability to engage effectively with senior leadership and Boards or Investment Committees.

Knowledge, Skills, and Ability:

• Strategic Financial Leadership – Aligns treasury and investment strategies with long-term organizational goals; anticipates financial risks and opportunities.
• Executive Presence – Communicates complex financial concepts clearly, influences decision-making at the executive level.
• Investment & Capital Markets Acumen – Demonstrates deep understanding of asset classes, portfolio construction, and market dynamics.
• Risk Management & Governance – Ensures strong internal controls, regulatory compliance, and fiduciary responsibility.
• Decision Quality – Makes informed, timely decisions grounded in data, experience, and sound judgment; serves as a trusted advisor to leadership.

Physical Requirements:

• Sufficient physical ability and mobility to work in an office/community setting.
• Ability to stand or sit for prolonged periods of time.
• Ability to occasionally stoop, bend, kneel, crouch, reach, and twist.
• Ability to lift, carry, push, and/or pull light to moderate amounts of weight up to 50 lbs.
• Ability to operate various equipment based on department and weather conditions
• Engaging in repetitive movements of wrists, hands, and fingers - typing and/or writing.
• Clarity of Vision For near visual acuity Clarity of vision at approximately 20 inches or less (i.e., working with small objects or reading small print), including use of computers.
• For Far visual acuity, Clarity of vision at 20 feet or more. This is not just the ability to see a person or object, but the ability to recognize features as well.
• For peripheral vision, observing an area that can be seen up and down or to right or left while eyes are fixed on a given point.

Competencies:

• Leadership: Guide and inspire a high-performing Customer Success team that achieves and exceeds revenue targets while fostering customer loyalty and growth
• Customer Success: As a customer advocate build strong relationships with our customers, understanding their needs and ensuring their success with our platform. Promote increased adoption and expansion of our solutions within customer organizations
• Continuous Improvement: Advocate for and implement a culture of continuous learning and improvement within the team. Drive initiatives that improve customer satisfaction and team efficiency
• Account Strategy: Define and execute strategies to drive customer retention, renewal, upsell, and cross-sell, contributing directly to our growth objectives
• Cross-Functional: Collaboration Collaborate with other departments to align on company goals, relay customer feedback, and ensure a unified customer experience

Compensation Pay Range:

$130,700.00 - $211,739.00 per year

Reasonable Pay Estimate

A reasonable estimate of the pay range for this position is $130,700.00 - $211,739.00 per year. There are numerous factors taken into consideration in determining the actual offered rate of pay, including but not limited to: job-related qualifications, experience, skills, education, geographic location, and consideration of internal and external equity.

For full time employees, we offer a generous benefits package that includes:

• Medical, dental and vision insurance
• Employer paid group term life and disability
• Paid Time Off (PTO) & six paid holidays
• 403(b) with a 3% employer match
• Fitness center