Local Government Jobs in Illinois

By | February 1, 2023

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What is a Junior Treasurer?

The junior treasurer position is the entry-level position in the treasury department. Junior Treasurers work in large, internationally active corporations with sales of around half a billion or more. Here they support a senior treasurer — in large corporations an entire team of treasury specialists — in covering the company’s capital requirements, preparing liquidity planning and identifying and minimizing risks.

In addition, Junior Treasurers help to cover cash management and keep organizational areas (like managing bank accounts, powers of disposal or EMIR requirements) up to date.

Basically, the rule of thumb applies: the smaller the company, the more diverse the tasks that a junior treasurer takes on. In large corporations – where the treasury can sometimes comprise ten or 20 employees – the junior treasurer will probably only work on a few or one area of ​​responsibility (e.g. liquidity planning). However, this gives him a very detailed knowledge.

Junior Treasurers have a very exciting field of work. Because they work together with various departments of a company and thus get to know the company and its business as well as the business processes well. Even if a lot of recurring work is part of your everyday work, there are always ad hoc topics that bring new challenges and variety.

Three case studies for the work of the Junior Treasurer

Example 1: Purchasing reports: A supplier would like to invoice in US dollars and would offer a better price for it. It is the task of treasury to assess the currency risk and, if necessary, to propose hedging strategies. In a holistic view, Treasury will then provide an assessment from a financial point of view and coordinate the further course of action with Purchasing.

Example 2: A new loan agreement has been negotiated for the company. The implementation of the reporting requirements must be documented and structured in order to deliver them on time in the future. For this purpose, the junior treasurer creates an overview file with the various requirements (what is to be delivered when and to whom?).

Example 3: The board of directors of the company is dealing with a strategic acquisition or start-up at a new location. The treasury provides support on questions relating to the banking landscape, payment transactions, legal regulations (related to treasury issues) in the respective country. The Junior Treasurer researches these topics by gathering information from the Internet, from foreign agencies and from banks.

Influence of digitization and low interest rates

Digitization has changed the area of ​​responsibility of the junior treasurer: in the past, for example, they had to manually manage or request bank powers of attorney or extracts from the commercial register. Account management and liquidity planning were also not fully integrated into the system landscape at some companies, which made manual work steps necessary. Many simpler tasks go faster through the digital systems or are even done automatically by the systems. This has upgraded the day-to-day work of the Junior Treasurer because he has (more) time for other — more exciting — tasks.

Another development that affects the treasury area as a whole and also the area of ​​responsibility of the junior treasurer is the low interest rate phase that has been going on since 2008. Since then, cash pooling and many other things have become less important. When loans become more expensive and the investment options more varied and attractive, the tasks of the junior treasurer also become more varied and demanding. For example, derivatives could then become interesting again – and the derivative valuation required for this would be the task of the junior treasurer.

The most important things in 5 seconds

  • Education: Commercial training or business studies
  • Starting salary: €40,000
  • Top salary: €60,000
  • Opportunities for advancement: Treasurer, Senior Treasurer, Head of Treasurer


What does a Junior Treasurer do?

  • Support in the implementation of the company’s treasury strategy (cash management, banking strategy including operational implementation, financing, cash pooling, cash flow analysis, interest rate and currency management)
  • Management, planning and monitoring of liquidity
  • Participation in the monthly, quarterly and annual financial statements of the Treasury department
  • Execution and monitoring of payment transactions (depending on the company structure)
  • Support with organizational design (bank details, account concentration, bank clearing, electronic banking, maintenance of the treasury system)


What does a Junior Treasurer do?

If applicants can show initial contact with the financial sector, this position is also suitable for career starters immediately after graduation. Previous training may have taken the form of bank training or internships in treasury or related areas ( accounting, controlling ). A bank apprenticeship is particularly helpful, as it conveys routine with certain formalities as well as the idea of ​​service when dealing with customers. Additional requirements for Junior Treasurers are:

  • Completed training or degree in economics, finance and accounting, banking or similar.
  • first professional experience in the financial sector
  • If necessary, specialist training such as the Corporate Certified Treasurer
  • solid knowledge of MS Office
  • very good knowledge of German and English


What does a Junior Treasurer earn?

from 40.000€

up to €60,000

Junior Treasurers earn a gross salary ranging from € 40,000 to €60,000 annually. The exact salary depends above all on the size of the company, the industry and the age or professional experience. Professional training courses such as the Corporate Certified Treasurer improve the salary prospects, but are increasingly expected by newcomers to the treasury area.


What do you expect from the Junior Treasurer?

Junior Treasurers are managed and report to a manager in Treasury. Nevertheless, they are personalities who recognize upcoming work and act independently within their work area. You are conscientious, reliable and resilient. Junior Treasurers must be interested and willing to continue their education and follow current developments. You are a team player and open – above all, an interested approach to other cultures is important for completing the tasks.


Opportunities for advancement as Junior Treasurer

The classic path leads from the junior treasurer to the treasurer to the senior treasurer or to the head of treasury of a large international group. This also involves leading a team of treasury specialists.

In addition, junior treasurers can also develop into heads of finance. Since they gain insight into a great many topics and usually build up a good network within a company, they can take side steps into other financial areas such as controlling or accounting.

The job market for junior treasurers is currently good and will probably remain so in the years to come: Since the field of treasury is not yet firmly anchored in the curriculum at universities and technical colleges, young applicants often do not know exactly what to expect in this area of ​​the company. As a result, there are still fewer young people than the treasury experts that are needed — good specialists are correspondingly rare and in demand.

Chicago – Department of Personnel

Division offers current job openings, residency requirements, application instructions, and 24 hour job hotline. Find training programs.

Website: http://www.cityofchicago.org/Personnel/

Naperville – Human Resources

List of current openings including job description, salary range, and application instructions. Find job hotline and mailing address.

Website: http://www.naperville.il.us/scripts/out_emp.cfm

Peoria – Human Resources

Find listing of current openings with job description, location, and salary range. See application FAQs and news.

Website: http://www.ci.peoria.il.us/default.asp?Sectionid=22

Springfield – Human Resources

Find list of current positions from fire, computer, and census divisions. Includes contact phone number for division managers.

Website: http://www.springfield.il.us/CITY_GOV/HUM_RES/Humanres.htm