The Treasury Manager oversees banking relationships, cash management, and treasury operations across a diversified real estate portfolio that includes both construction/development projects and stabilized operating properties. This role requires in‑depth knowledge of banking products and terminology, along with strong project management skills to lead treasury initiatives involving a large number of banks, legal entities, property‑level accounts, and joint venture structures. The Treasury Manager partners closely with Corporate Accounting, Fund/JV Accounting, Development and Construction, Asset Management, Tax, Capital Markets, and external banking partners to support the full real estate lifecycle.
Key Responsibilities
Banking & Cash Management (Construction and Stabilized Assets)
- Manage and maintain relationships with multiple banks supporting development projects, stabilized properties, holding companies, and joint ventures.
- Oversee daily cash positioning, liquidity management, and cash forecasting for the Company’s construction and corporate entities.
- Apply strong knowledge of banking products and terminology, including:
- Construction/Development: construction loan accounts, draw accounts, escrow and retention accounts, interest reserve accounts, capital contribution accounts, and lender‑controlled accounts.
- Stabilized Operations: operating accounts, lockboxes, ZBAs, sweeps, debt service accounts, reserve accounts, distribution accounts, and investment accounts.
- Ensure banking structures align with lender requirements (as evidenced by loan documents, including but not limited to Loan Agreements, Deposit Account Control Agreements), JV agreements, development budgets, and ongoing property operations.
- Review and analyze banking relationships including depository relationships to maintain access to construction financing. Also, review the related banking analysis statements to identify efficiency improvements and support pricing negotiations.
Treasury Operations & Controls
- Ensure timely and accurate setup, modification, and closure of bank accounts related to acquisitions, developments, refinancing, lease‑ups, dispositions, and JV formations or wind‑downs.
- Maintain strong internal controls over cash, banking access, and signer authorizations across a high‑volume, multi‑bank environment.
- Partner with Accounting and Fund/JV Accounting on cash reconciliations, capital calls, distributions, development draws, lender reporting, and audit requests.
- Support compliance with loan agreements, partnership agreements, KYC documentation, and internal governance policies.
Project Management & Strategic Treasury Initiatives
- Lead and manage treasury‑related projects affecting both development and stabilized portfolios, including:
- New development and construction account structures
- Bank and account rationalization initiatives
- Acquisitions, dispositions, and refinancing activity
- New JV and entity onboarding
- Treasury Management System (TMS) implementations or enhancements
- Develop detailed project plans, timelines, and communication strategies; coordinate execution across multiple banks and internal stakeholders.
- Anticipate and resolve issues related to timing, system constraints, lender requirements, and operational complexity.
Systems & Process Improvement
- Serve as a key owner or subject matter expert for treasury systems and bank portals.
- Drive process standardization and automation across development and stabilized assets to improve cash visibility, controls, and scalability.
- Document treasury procedures, controls, and workflows to support growth, audits, and operational consistency.
- Improve management reporting to aid in strategic decision making.
Qualifications
Education & Experience
- Bachelor’s degree in Finance, Accounting, Business, or a related field.
- 5–8+ years of treasury, cash management, or banking experience, preferably within real estate.
- Demonstrated experience supporting both construction/development activity and stabilized property operations in a complex, multi‑entity environment.
Knowledge & Skills
- Strong understanding of banking services and terminology as applied to real estate development financing and ongoing property operations.
- Proven ability to manage treasury projects involving numerous banks, accounts, entities, and stakeholders.
- Excellent analytical, organizational, and problem‑solving skills.
- Strong communication skills, with the ability to collaborate effectively across Accounting, Development, Asset Management, and external partners.
- Detail‑oriented, with the ability to balance strategic initiatives and day‑to‑day treasury operations.
Preferred
- Experience with a Treasury Management System (TMS), preferably Kyriba
- Experience with Yardi and/or Entrata
- Certified Treasury Professional (CTP) or similar credential preferred
- Exposure to joint venture accounting structures, lender compliance, and development draw processes
Key Competencies
- Real estate treasury expertise across development and operations
- Multi‑bank and multi‑entity cash management
- Project management and execution
- Cross‑functional collaboration
- Risk management and internal control focus
About the Benefits of joining the Mill Creek Team
- Competitive compensation
- Comprehensive medical, dental and vision
- Employer sponsored short- and long-term disability, Life and ADD insurance401k with employer matching
- Paid time off benefits: Vacation, Sick, Holidays
JobFamily
JV/Property Accounting
JobFunction
Overhead
PayType
Salary