Description
Position at IDEA Public Schools

About IDEA Public Schools :  

 

At IDEA Public Schools, we believe in college for ALL and we are committed to ensuring that   all   our students graduate from college. IDEA Public Schools has grown from a small school to the fastest-growing network of tuition-free Pre-K-12 public charter schools in the United States sending 100% of our students to college. 50% of our students graduate from college in 6 years - that's 8 times the national rate for students in our communities!  

 
IDEA was founded in 2000 as a single school with 150 students in the Rio Grande Valley. When interest exceeded building capacity, to meet the demands, IDEA's co-founders committed to serving more students in the Rio Grande Valley of Texas and beyond. We now serve  over 65,000  students across Texas and Louisiana. Be on the lookout for IDEA schools opening near you-with continued growth in our current regions an d new launches in  Tampa Bay , FL  (2021) ,  and  Jacksonville, FL (2022) !  

 

When you choose to work at IDEA, you are part of our IDEA Team and Family. You will work alongside team members who set and reach ambitious goals every day, are excited to continue to grow with IDEA, and work relentlessly to make college for all a reality.  

 

To learn more about IDEA, check out this   video .  

Role Mission:  The  Managing Director   of Treasury  will  be directly responsible for  all treasury/cash management functions including portfolio investment decisions, commercial banking business operations and relationships, real estate acquisition/campus launch schedule and various facility financing structuring for IDEA Public Schools as well as IPS Enterprises LLC. In doing so, the  Managing Director   of  Treasur y  will be charged with ensuring the maintenance of organizational liquidity by developing and executing on a critical part of the strategic financial vision for our growing organization and managing/influencing supporting staff to sustained efficacy in all aspects of treasury management and reporting.   

The  Managing Director   of  Treasur y  must possess an entrepreneurial mindset and the ability to rapidly and creatively adjust plans based on the changing financial needs of our business as well as our fluid plans for growth. As such, the  Managing Director   of  Treasur y   must have an understanding and appetite for innovative financing, harvesting cash, and maximizing/minimizing sources and uses of cash. Will support the Advancement team in developing cash flow projections related to philanthropic grants and tracking execution.  Additionally, the  Managing Director   of  Treasur y  must have a strong Finance background as they will manage the plan of finance for both IDEA Texas and IPS Enterprises  with support of external Financial Advisors  under the direction of the Chief Financial Officer.  

Reporting to the Chief Financial Officer, the  Managing Director   of  Treasur y   will play a critical role in ensuring that our schools are equipped with the financial resources to ensure that all students learn, grow, and achieve transformative life outcomes.  

 

Accountabilities  

Achieve annual operating goals to ensure long term financial stability for IDEA Public Schools of Texas and IPS Enterprises.   

• Work with Senior Leadership to incorporate expansion plans into the budget planning process to ensure IDEA Texas maintains a targeted 1.35X Maximum Annual Debt Service on all historical and projected debt.   

• Partner with Strategic Planning Team, Advancement and Executive Directors to establish Fundraising Goals, Regional Financial Models and Budgets to achieve all compliance with all financial covenant requirements for IPS Enterprises, Inc.   
• Create the Plan of Finance under the direction of the Chief Financial Officer. M aintain the Plan of Finance and work with Senior Leadership,  Rating Agencies,  Financial Advisors , Underwriters, Banks and Investors  to  achieve optimal financing structures to support IDEA Texas and IPS Enterprises capital improvement program (CIP).   

Measurable Goal:  Affirm A- S&P Rating and successfully secure capital markets financing to fund 2021 IDEA Texas Projects, a cquire all necessary real estate for IDEA Texas 2022-23 openings  &  Secure level facility financing for IPS Enterprise Projects (JAX 1, JAX 2, CIN2, BR3) dependent on site selection by 2/30/20, acquire all necessary real estate for IPS 2022-23 openings.  

 

Achieve no less than 145 days of operating cash on hand at June 30 for next three years for IDEA Texas and improve days cash on hand for IDEA Louisiana from 30 days to 45 days by June 30, 2021.   

• Partner with the VP of Finance and Directors of Finance to  manage  the  cash position for all entities.   
• Maintain and utilize the $10MM Regions Line of Credit to supplement as necessary or maximize cash efficiency.   
• Improve working capital cycle and minimize deferred payments to vendors and utilize Treasury products and strategies to the fullest extent possible.   
• Partner with the VP of Finance and Directors of Finance to d rive the creation and update of rolling forecasts in partnership with school and regional leaders to ensure schools and regional budgets will meet annual  operating income  targets  
• Partner with Directors of Financial Planning and Analysis to support  schools and teams that are off track and provide actionable recommendations to improve financial performance  

• Consistently review banking account structure for optimal returns and maintain all requirements of the Public Funds Investment Act, to include  Quarterly Reporting and annual review and approval of the Policy.   
• In conjunction with IDEA Louisiana and IPS Enterprises Directors of Finance, maintain a strategy to repay the Accounts Receivable Balance to one month of lag of operational by June 30.   
• In conjunction with Director of Finance for IDEA Texas, IPS Enterprises, IDEA Louisiana, and new Regions, as applicable, on an ongoing basis, oversee the production of a quarterly and annual cash flow forecast to ensure no deficit spending.   

Measurable Goal s :  Achieve no less than 145 Days Cash on Hand by 6/30/21 .  

 

Lead the Real Estate acquisition proces s  

• Under the direction of the Chief Financial Officer p artner with construction management team to initiate all diligence required to evaluate potential real estate acquisitions  
• Work with  Real Estate  Brokers and Legal Counsel to successfully negotiate  and put under contract all properties required for expansion.   
• With the support of the Chief Financial Officer and Financial Advisors e nsure capital or fund source is available for funding and manage business office support to close all transactions.   

Measurable Goals:  A cquire all necessary real estate for IDEA Texas  and IPS Enterprises for   2022-23 openings , additionally secure sites for all 2023 openings by June 30.   

 
Management of all liquidity and capital support needed to fund CIP on an interim basis and FF&E. 

• Under the direction of the Chief Financial Officer partner  with construction management team to regularly evaluate historical, current and proposed CIP costs incurred.   
• With the support of the Chief Financial Officer and Financial Advisors m anage all sources of interim financing, evaluating optimal utilization of resources and renewing the facilities as needed.  
• Work with transportation and facilities team to establish capital expenditure and capital replacement budgets and establish plan for financing.   

Measurable Goals:  Establish and execute on plan for Interim Debt Capacity by December 31st to support the new Launch Schedule & Bond take-out  

 
Direc tly manage the Risk Management function for I DEA  and IPS  

• Prepare and present annual renewal plan for org wide property and casualty insurance programs by June 1. Manage rate increases to be within a 0 to 5% range to prior year on a per student or employee basis.  
• Move organization to  self-insurance  position on workers comp by June 30 2021  

• Manage annual master equipment lease process (by June 30) to provide additional busses for IDEA TX and IPS  
• Manage and effect improvement on efficiency of Risk Management function by enhancing the claim management process, certificate request procedures, invoice payment process, and training and education for key stakeholders.  
• A nnual audit of insurance brokers performance  

Measurable Goal:  Prepare and present annual risk management renewal draft by June 15, 2020 and assess Self-Insurance Plan for Workers Comp  

 
Live V alues of IDEA  

• Believes and is committed to our mission: that all students are capable of getting to and through college   
• Is driven by outcomes and results, and wants to be held accountable for them  
• Has a propensity for action, willing to make mistakes by doing in order to learn and improve   quickly  

• Thrives in an entrepreneurial, high-growth environment; is comfortable with ambiguity and change  
• Seeks and responds well to feedback, which is shared often and freely across all levels of the organization  
• Works through silos and forges strong cross-departmental relationships in order to achieve outcomes  
• Embodies IDEA's core values    

Measurable Goal- 85%  Financ e  Team  and Business Clerk Retention  

 

Supervisory Responsibilities : Directly manages  Director of Risk Management, Director of Financial Modeling  

 

Qualifications:  

Education:
(Required) Bachelor's degree in accounting, business administration, or economics  

(Preferred) Master's degree in accounting, business administration, or economics  
Experience:
(Required)  5 years + in public finance, banking or related field.   

(Preferred)  5-10 y ears' experience in financial data analysis  
Certifications:  
C ertified Treasury Professional  preferred  

 

Knowledge and Skills:  

• Ability to effectively communicate with stakeholders of varying degrees of analytical understanding  
• Excellent analytical and problem solving skills  
• Constantly searching for and learning more regarding analysis methods and tools  
• Organizing own work  and work of others , coordinating projects, setting priorities, meeting  deadlines  

• Using initiative and independent judgment within established policy and procedural guidelines  
• Hold ethics and values to high standards  

IDEA Public Schools does not discriminate on the basis of race, color, national origin, age, sex or disability, in admission or access to, or treatment of employment in its programs and activities. Any person having inquiries concerning the organization's compliance with the regulations implementing Title VI of Civil Rights Act of 1964 (Title VI), Section 504 of the Rehabilitation Act of 1973 (Section 504), or Title II of the Americans with Disabilities Act of 1990 (ADA), may contact IDEA Human Resources at (956) 377-8000.