Finance OST | Treasury and Accounts Receivable Hub

Hub Overview

This hub will expertly manage the University’s financial assets and incoming funds. This comprehensive hub oversees vital operations including treasury operations, endowment accounting, capital accounting, merchant management, and accounts receivable. Together, these functions ensure the efficient flow of financial resources and compliance with financial regulations. 

Within the treasury operations team, the hub will handle the University’s daily banking activities, encompassing the review and approval of various payment types, cash management, and financial projections. It will also take on responsibilities related to debt management, including issuance, interactions with rating agencies, and ensuring ongoing disclosure and compliance. Furthermore, this team will manage investment income, oversee deferred giving in collaboration with third-party providers, and process new deferred gifts and their distributions. 

The hub’s endowment accounting team will be dedicated to the management of Penn State’s endowments, including master data creation, budgeting, and monthly buy-in processes for new endowment gifts. This allows accurate financial recording and the efficient transfer of information to systems like SIMBA and eSteward for student awarding.

The capital accounting team will focus on the financial oversight of special projects, including master data creation for tracking, funding in collaboration with units like the Office of the Physical Plant, and managing internal payment processing. This team will also handle budgeting for special projects, oversee municipal agreements, and manage in-lieu tax payments. 

The merchant management team within the hub will handle the secure and compliant processing of all payment card transactions. This involves reviewing requests for merchant accounts, addressing hardware requirements, and ensuring strict adherence to PCI DSS standards through collaboration with Penn State IT.  

Lastly, the accounts receivable team will manage the entire invoicing and payment collection process, from custom creation and validation to invoice transmittal and payment processing. This team will also conduct reconciliation procedures, monitor key performance indicators, and actively manage aged receivables to ensure timely collection.  

Team Structure

The Treasury and Accounts Receivable hub lead will have 3 direct reports, each responsible for specific process areas, with dedicated team members supporting them.

Leadership