Treasurer Job Description

A treasurer is an important member of the board of directors of any company. While in most countries, the requirement of a treasurer is decreed by the laws governing the operation of companies, most people do not tend to realize the contribution of this person's expertise to the overall financial running of the company.

A Treasurer's Responsibilities

The function of the treasurer is a lot more specified than the function of the other members of the board. He or she specifically deals with the financial health of the company. And being appointed on the board in an advisory capacity, he does just that, guiding on the financial function in the company. A treasurer is generally a person with a wide ranging experience in financial planning and financial management, preferably having managed the finances of companies belonging to various sector. Thus, the treasurer brings something valuable to the company which other employees may or may not - experience.

To be specific, the treasurer oversees various aspects of finances of the company - the accounting, the cash flows, asset management, the receivables management, etc. So while the actual drawing up of the financial statements - balance sheets et al - is done by the salaried employees appointed by the company, the final thumbs up and recommendations if any, are given out by the treasurer. The job description also prescribes that he looks into the budgeting of costs and cost management done by the company.

He may also be empowered to have the final say on the business financing policies of the company. More often than not, it is he who brings in all the financial policies into place and has a ruling on the investment decisions based on return on investment which the company makes. He ought to be well versed with the laws governing financial reporting and corporate governance affairs.

To wrap it up, it is fair to say that having been employed by the shareholders of the company to manage the funds, it is one of the duties to ensure that the funds entrusted to him and to the company by the shareholder are responsibly used and to the end that the best returns can be given to the shareholders of the company and without having to dabble with the dark arts of financial malpractices.

Treasurer Salary

The treasurer is usually given a pretty hefty salary package for the specialized work that he performs for the company. The salary can vary a lot based on the company he works for. So while some companies may give a salary of about USD 70,000 - USD 80,000, there are even others who would give a whopping USD 200,000 for the year.

The treasurer salary really depends a lot on his reputation and his body of work over the years. If companies choose a person whose financial knowledge is well reputed worldwide, they will have to pay the latter amount to procure his services. Appointing just any treasurer although with sound knowledge of financial systems will cost the company the former. But then it is the company's call, whether they are ready to cough up such a stupendous amount for a man who's really worth his weight in gold! The median salary though, is estimated to be USD 178,338 annually.

As you can see, the job of the treasurer although tough, is one of the highest paying jobs in the world. But then, you need to have a long experience to back up your price!