Money Market Manager Job Profile and Description
Reporting to the cash management director or VP, the Money Market Manager is charged with ensuring that idle cash-on-hand or cash-in-banks become productive assets by being placed in short term money markets where they can earn the highest possible interests rates. They are in constant monitoring mode to know which of the company’s bank’s around the country or assigned region carry deposit accounts that can be extended for short term or day long loans to certain short term trading borrowers.
Money Market Manager Duties and Responsibilities
- Nurture and maintain excellent relationships with accredited banks and fund investment houses
- Supervise a team of money market agents and officers who are assigned banks to ensure the funds in them are correctly managed for optimum earnings.
- Coordinate with HR to ensure that allocated payroll funds are synchronized to ensure they earn the most interests while meeting the deadlines for finding employees depository payroll accounts.
- Provide regular reports to the finance committee or executives on the status of earning of idles bank resources.
Money Market Manager Skills and Specification
- Must have extensive network of money market traders, banks and investment houses.
- Must have excellent communication, diplomatic and negotiation skills.
- Must have excellent organizational, supervisory and managerial skills
Money Market Manager Education and Qualification
- A BA degree in accounting, finance or business administration is basic
- At least 10 years in the finance management function with the last 3-5 years handling cash management or money market placements.
- MBA or master’s degree in financial management is an advantage.
Money Market Manager Salary
The average annual salary of a Money Market Manager varies depending on the size of the value of cash funds being managed, industry, state and holder’s qualification. In general, a Money Market Manager can earn between $45,700 and $79,300 annually minus bonuses.
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