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Overview

Director of Treasury, Financial Analytics

Full Time, 80 Hours Per Pay Period, Day Shift

Covenant Health Overview:

Covenant Health is the region’s top-performing healthcare network with 10 hospitals (http://www.covenanthealth.com/hospitals/) , outpatient and specialty services (http://www.covenanthealth.com/services/) , and Covenant Medical Group (http://www.covenantmedicalgroup.org/) , our area’s fastest-growing physician practice division. Headquartered in Knoxville, Covenant Health is a community-owned integrated healthcare delivery system and the area’s largest employer. Our more than 11,000 employees, volunteers, and 1,500 affiliated physicians are dedicated to improving the quality of life for the more than two million patients and families we serve every year. Covenant Health is the only healthcare system in East Tennessee to be named a Forbes “Best Employer” seven times.

Position Summary:

Covenant Health’s Director of Treasury plays a crucial role in managing the organization’s financial resources, optimizing cash flow, and ensuring liquidity. This position requires a skilled financial professional to oversee cash management, investments, debt financing, and risk management strategies. The Director of Treasury will collaborate with cross-functional teams to develop and execute financial strategies that align with the company's objectives while safeguarding its financial stability.

Recruiter: Kathleen Rice || [email protected] || 865-374-5386

Responsibilities

+ Manage and lead Treasury operations, policies, and internal controls across the system.

+ Manage relationships with investors, banks, and other financial institutions.

+ Stay informed about market trends and regulatory changes affecting the treasury function.

+ Prepare and present regular reports on cash flow, liquidity, and treasury activities.

+ Ensure compliance with accounting standards and regulatory requirements.

+ Establish and maintain robust internal controls related to treasury operations.

+ Ensure compliance with applicable laws, regulations, and accounting standards.

+ Build and mature robust treasury services team, supervising and mentoring treasury staff.

+ Foster a collaborative and results-oriented team environment.

+ Manage cash flows effectively to ensure liquidity and financial stability. Monitor daily cash positions and forecast short-term cash needs.

+ Develop accurate long-range cash flow forecasts to support financial planning and decision-making. Continuously refine forecasting models based on actual results.

+ Implement strategies to maximize cash efficiency and minimize idle balances.

+ Drive ongoing assessment of the company’s capital structure and capital markets opportunities to optimize the company’s cost of capital.

+ Oversee and facilitate wire transfers between intercompany, banking, and/or investment accounts to meet cash funding requirements.

+ Manage and strengthen banking relationships and manage bank accounts.

+ Periodically review banking products and provide recommendations on new and/or current products and services. Implement strategies for optimizing bank accounts and overall banking fees.

+ Partner closely with our investment advisors to implement efficient funding and investment strategies, adhering to our investment policy.

+ In partnership with Covenant’s investment advisory, evaluate and select suitable investment instruments.

+ Monitor investment performance and compliance with company policies.

+ Assess the organization's capital structure and financing needs, maintaining the organization’s long-range capital/debt capacity model(s)

+ Assist and coordinate activities related to issuance of debt and monitor compliance with debt covenants and other reporting required by such documents.

+ Negotiate and manage debt agreements, including loans and credit facilities.

+ Identify and implement risk mitigation strategies, such as hedging and insurance.

+ Maintain all debt amortization and accretion schedules related to cost of issuance, premiums, discounts, etc.

+ Verify trustee calculations, wire debt principal and interest payments, monitor rates for variable debt, if applicable

+ Compile financial and organizational data required for refinancing and new bond issues, including Appendix A documentation for new public debt issuance.

+ Follows policies, procedures, and safety standards. Completes required education assignments annually. Works toward achieving goals and objectives, and participates in quality improvement initiatives as requested.

+ Performs other duties as assigned.

Qualifications

Minimum Education:

Bachelor’s degree in finance, accounting, or a related field; MBA or CTP (Certified Treasury Professional) preferred.

Minimum Experience:

Eight (8) to twelve (12) years of proven experience in treasury management, with at least four (4) years in a senior treasury role managing a team.

Licensure Requirements:

None.

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Job Title DIR TREASURY

ID 4227497

Facility Covenant Health Corporate

Department Name FINANCIAL ANALYTICS