Position Specification
Treasury Manager
The Organization
MidMichigan Health is a non-profit health system, headquartered in Midland, Michigan,
serving much of the middle of Michigan and beyond. The health system is located on 146
acres of wooded property, the Midland campus, the site of its largest hospital.
MidMichigan Health acts as a parent organization to 15 subsidiaries and has various joint
ventures and management contracts, which includes four hospitals, 2 nursing homes, an
assisted living facility, and home care services. System-wide, MidMichigan has:
 More than 4,700 employees
 400 physicians in 43 specialties
 More than 1,250 volunteers
 Annual gross revenues approximately $932 million
 Assets valued at more than $800 million
 Over 300 days in cash.
 459 hospital beds at four medical centers
 185 licensed nursing home beds
 20 licensed assisted living beds
Additional information about MidMichigan Health can be found on their website at:
http://www.midmichigan.org.
The Position
Location
Midland, Michigan has a population of 41,685 and is located in Midland County which has
a total population of 82,874.
The outstanding Midland Public School System is comprised of 13 elementary schools,
three middle schools and two high schools. Midland’s K-12 public and private school
systems enjoy a long-standing tradition of excellence. For example, in 2005, four of the
five local public high schools in the greater Midland community had graduation rates above
the statewide rate; most notable was Midland Public Schools, which had rates as high as
10% above the state rate of 88.7%. And for the 2007-2008 school year, 100% of Midland
Public Schools teachers met State of Michigan guidelines as “highly qualified”.
Midland has a vast array of cultural opportunities ranging from music and theater to science
and the arts. The Midland Center for the Arts provides state-of-the-art stages for audiences
of 400 to 1,500 and has featured everything from local performances to world-class
orchestras and dance companies. Nature is also found in abundance at Midland’s Dow
Gardens. Spread over 100 acres, Dow Gardens shares with its visitors the landscaping
designed for the home of The Dow Chemical Company.
The Dow Chemical Company and Dow Corning Corporation are two Fortune 500
companies with world headquarters and major manufacturing plants in the community,
adding to the excellence of Midland through their continued scientific research and
development. The Midland Cogeneration Venture, one of the largest gas-fired cogeneration
power plants in the world, came aboard in 1991 and is the City’s largest taxpayer.
Many of Michigan’s philanthropic organizations are based in Midland Michigan and
include: The Herbert H. and Grace A. Dow Foundation, The Dow Chemical Company
Foundation, Midland Area Community Foundation, The Alden and Vada Dow Family
Foundations, The Rollin M. Gerstacker Foundation, and The Charles J. Strosacker
Foundation. These organizations have been very supportive of MidMichigan Health and
the Medical Center-Midland, having contributed over 30 million dollars to the Health
System through the years, much of that going to the MidMichigan Medical Center-Midland.
More information about the city of Midland can be found on the City of Midland web site
at www.midland-mi.org.
Reporting Relationships
The Treasury Manager reports to the Senior Vice President and Treasurer, Francine
Padgett. The position is a staff function, so the Treasury Manager will function as an
individual contributor to the SVP senior management and the finance team.
Responsibilities
The Treasury Manager has primary responsibility for the leadership, direction and
supervision of the treasury function and the execution of the cash and investment
management for MidMichigan Health. This Treasury Manager works with senior
management to oversee all parts of cash management and compliance, cash forecasting,
credit arrangements, risk management, and ensures financial controls over investments
remain effective, that investment assets are safeguarded, that investment transactions are
authorized, processed and recorded properly and in accordance with all system policies.
This person in this position directly invests short-term portfolio and bond reserves and
monitors external professional money managers responsible for long term funds. The
Treasury Manager also oversees the banking relationships, provides consolidated reporting
of investment transactions and prepares cash forecasts and monitors compliance with bond
covenants.
Together with the SVP, The Treasury Manager supports the activities of the Investment
Committee of the MidMichigan Health Board implementing short-term and long-term
investment strategies within the guidelines established by the Committee, including bond
and escrow funds. The Investment Committee meets quarterly; and as needed, to exercise
investment oversight with respect to the MidMichigan Health Employees’ Pension Plan, the
403(b) Savings Plan, and the Frozen 401(a) Plan (collectively the "Plans"); to formulate
investment policy; and to select and monitor H investments for all the Plans as well as
MidMichigan Health’s investments and operating funds. Presently, there is over $150
Million in the pension and some $400 Million in the MidMichigan investment portfolio.
The following comprise the principal duties and responsibilities of the Treasury Manager:
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Works closely with senior management to manage MidMichigan Health’s cash
accounts, credit card accounts, controls, transactions, reconciliations and reporting.
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Monitors and manages MidMichigan Health’s daily cash position.
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Develops and maintains relationships with banks and investment managers,
evaluating performance, costs and fees.
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Works with the MidMichigan Health tax consultant to ensure compliance with and
understanding of the tax ramifications of investment transactions.

Evaluates specific investment opportunities and makes recommendations to senior
management.

Initiates wire transfers and initiates inter-account transfers of cash assets.
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Works with the organization’s investment consultant to assess and implement
treasury best practices.
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Analyzes liquidity risk and helps develop implement liquidity policies.

Evaluates complex structured transactions and advises senior management on
financial risk and other implications.
The following comprise the major expectations of the person who accepts the Treasury
Manager position:
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Assess the evolution and present state of the treasury function at MidMidchigan
Health and help define the future of this increasingly important role in the Health
System.
Develop a full corporate finance function at MidMichigan Health with a
sophisticated Treasury Manager role, treasury work stations, online wire
transferring, and proactive investment planning.
Contribute to the development of a financial scorecard with the rest of the finance
team.
Complete an accurate cash forecast and demonstrate the ability to “run the cash.”

Establish self as an integral member of the finance team and work with others to
improve the financial integrity and strength of MidMichigan Health.
Opportunity
This position provides an opportunity to observe and work with an exceptionally
experienced and capable group of executives, who serve on the Investment Committee of
the Board. As one of the pre-eminent healthcare providers in the region, MidMichigan also
offers a financially sound, stable environment where personal and professional
development takes place. There is a notable track record of financial executives who have
been promoted throughout the Health System.
Compensation
An attractive, competitive compensation program will be offered to qualified candidates.
The final candidate will receive full relocation assistance and benefits, which are usual and
customary for this level position in the organization.
The Candidate
Education/Certifications
This position requires the minimum of a Bachelor’s degree in Finance or Business
Administration. A CFA or CCM/CTP is preferred, and a Masters degree in Finance or
Business Administration preferred. Possibly possessing a securities license.
Professional Qualifications
 Five + years of increasingly complex Treasury, Banking or Investment Management
experience.
 Broad knowledge of global workings of cash management, banking management,
analytics, modeling, capital markets, fixed income markets and macroeconomics.
 Complete understanding of generally accepted accounting principles and generally
accepted auditing standards are required as they relate to treasury.
 Excellent analytical and technical skills across many different software packages with
the ability to adapt to new software quickly are also required to perform function well.
 The ability to work through and support a treasury debt financing.
 Well-developed and effective written and oral communication and presentation skills
and the ability to communicate at all levels of the organization.
 Demonstrated ability to work with governing boards and committees.
 Excellent interpersonal skills and the ability to work with a wide variety of people.
Personal Characteristics
 Someone who is a self-starter.
 Someone who has a thirst for knowledge metrics.
 Able to fit into the MidMichigan culture that is exemplified throughout the
MidMichigan “family” of affiliate organizations.
 A polished professional with an executive presence.
 Someone who is honest, a “good person.”
 A dedicated financial executive with a strong work ethic who is not afraid to roll-upthe-sleeves to get the job done.
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A collaborative team player, who values people and who can build consensus and
motivate others toward common objectives, and who has the ability to join and help
develop high performance teams.
An organized person who demonstrates personal accountability while being both
responsive and effective.
An individual of unquestioned integrity and high moral and ethical standards.
An optimistic person with energy, enthusiasm and a positive “can-do” attitude.
Someone who is secure, likeable, and approachable with a good sense of humor.
An active community member.
Contact
Barry R. Cesafsky, FACHE
CES Partners, Ltd.
53 W. Jackson Blvd., Suite 1526
Chicago, Illinois 60604
312.987.4505 (direct)
312.386.1557 (fax)
bcesafsky@cespartners.net (e-mail)
www.cespartners.net (web site)
Thomas W. Burke
CES Partners, Ltd.
53 W. Jackson Blvd., Suite 1526
Chicago, Illinois 60604
513.600.3746 (direct)
312.987.4505 ext.28 (main office)
312.386.1557 (fax)
tburke@cespartners.net (e-mail)