Job Description

Posting number: 2026-06615

Department: Office of the State Treasurer

Job classification: EXEMPT BAND 4

Posting type: Open & Promotional

Categories: Accounting and Finance, Business

About us:

The Washington State Treasurer's Office manages and safeguards public funds while supporting the financial health of Washington's communities. Our work helps fund critical public services and infrastructure that benefit people across the state.

We are a team of dedicated professionals committed to integrity, innovation, collaboration, and public service. We value diverse perspectives, continuous learning, and creating an inclusive workplace where employees can grow and make a meaningful impact.

If you're looking for a career with purpose, challenge, and the opportunity to serve Washingtonians, we invite you to join our team.

The Investments Division invests the state’s operating and capital cash reserves. In addition, the Investments Division manages the state Local Government Investment Pool and Separately Managed Account programs. All portfolios are actively traded, and all funds and operations are managed internally by the Office of the State Treasurer.

Opportunity:

OST is seeking an experienced Liquidity Portfolio Manager to manage the overnight investment process for the LGIP and Treasury Portfolio. Additionally, the Liquidity Portfolio manager is responsible for cash flow forecasting and analysis.

Reporting to the Deputy Treasurer for the Investments Division, the Portfolio Manager is responsible for managing assigned areas of OST's investment portfolios and carrying out day to day activities of investment programs. Functional areas include overnight investments, short term/liquid investments, fixed income portfolio management, custodial oversight, cash flow forecasting, and reporting and forecasting of earnings.

What we are looking for:

We are seeking a collaborative investment professional with strong analytical skills, sound judgment, and exceptional attention to detail. The successful candidate combines technical investment expertise with the ability to build productive relationships across agencies, financial institutions, and internal teams. We are looking for:

• Experience managing short-term liquidity investments, including repurchase agreements and money market instruments.
• Knowledge of cash flow forecasting, ideally in a public sector context.

Examples of duties

Daily investment operations

• Manage overnight investment of cash for Treasury and LGIP accounts
• Ensure portfolio compliance
• Monitor bank balances throughout the day
• Act as backup support for the Portfolio Administrator and the LGIP Administrator, as well as the State’s Surplus Funds CD and Linked Deposit programs.

Portfolio management and analysis

• Identify and execute trade opportunities to maximize portfolio yield in accordance with the state’s investment policy and guidelines
• Track and understand market conditions and influences using Bloomberg data, dealer contacts and research materials.
• Monitor portfolio assets and rebalance where needed, in accordance with the state’s investment policy and guidelines
• Help back up and comanage LGIP

Administrative Investment Activities

• Manage repo and bank counterparty relationships, including documentation and evaluation of services
• Draft, track and review periodic Requests for Proposal (RFPs) for custody services
• Develop and update investment policy and guidelines, administrative regulations and fund prospectus materials.
• Prepare written materials and presentations as needed.

Cash flow forecasting

• Use budgeted and historical data to forecast cash flows for the state Treasury and the state general fund. Track balances and refine forecast using month-end data and information from state agencies.
• Evaluate impact of proposed legislation on cash flow and earnings
• Work with state agencies to improve accuracy of forecast data
• Respond to requests for information regarding cash flows
• Use forecast data to anticipate liquidity needs

Earnings forecasting

• Prepare quarterly forecast of state general fund and Treasury earnings for Economic Revenue and Forecast Council
• Respond to requests for information regarding OST earnings
• Use forecast data to determine appropriate distribution of portfolio gains

Management of investment data

• Verify and review investment performance data
• Assist with portfolio pricing and benchmark tracking
• Represent Investment Team in interactions with IT staff

Other duties as required to support the operation of the Investments Division.

Qualifications

Applicants must demonstrate the knowledge, skills, and abilities required to perform the essential functions of this position. These qualifications may be acquired through any combination of education, training, certifications, and/or professional experience.

Candidates should be able to:

• Develop, monitor, and maintain reliable cash flow forecasts through analysis, ongoing monitoring, and collaboration with internal and external partners.
• Build and maintain productive working relationships with internal and external stakeholders to obtain information needed to support investment decisions and liquidity management.
• Independently identify operational issues, investigate underlying causes, exercise sound judgment, and recommend practical solutions.
• Analyze financial, statistical, and operational data to identify trends, assess risks, and support sound investment and cash management decisions.
• Evaluate interconnected business processes and recognize how operational changes may affect downstream activities, financial outcomes, or organizational risk.
• Communicate significant developments, emerging risks, and operational concerns to leadership in a timely and effective manner.
• Produce accurate, detail-oriented work while managing multiple priorities and meeting established deadlines.
• Work independently with minimal supervision while contributing effectively to a collaborative team environment.

The following knowledge, skills, or experience are preferred and may enhance a candidate's ability to be successful in the role:

• Knowledge of fixed income markets, bond valuation, and fixed income investment analysis.
• Experience supporting investment, treasury, banking, or institutional asset management functions.
• Experience with buy-side or sell-side investment operations.
• Knowledge of banking operations, online banking systems, and financial reporting practices.
• Experience conducting financial or statistical analysis to support business or investment decisions.
• Knowledge of applicable laws, regulations, policies, or industry standards governing public funds, investments, or treasury operations.
• Education, training, or professional certifications in finance, investments, economics, mathematics, business administration, accounting, or a related field.

Supplemental information

In addition to completing the online application profile on careers.wa.gov, Applicants must attach a current resume and a letter of interest describing how their experience, skills, and career interests align with the qualifications for this position.

We encourage applicants from diverse backgrounds and experiences to apply. If you are excited about this opportunity but do not meet every qualification listed, we welcome your application and look forward to learning more about your experience.

This announcement will remain open until it is filled. Applications will be reviewed as they are submitted. Candidates are encouraged to come forward as early as possible as the OST reserves the right to make an appointment at any time during this employment announcement.

A background check including criminal record history will be conducted. Information from the background check will not necessarily preclude employment but will be considered in determining the candidates' suitability and competence to perform in the position.

Benefits: Washington State offers a competitive benefits package. Beyond the traditional benefits such as health insurance, life insurance and retirement benefits, we offer flex spending accounts, dependent care assistance, deferred compensation, 12 paid holidays, paid vacation, and sick leave. Click on the “Benefits” tab near the top of the page to learn more.

Location: This position is based in Olympia, Washington, with offices located in the Legislative Building on the Capitol Campus. OST supports a flexible hybrid work environment.

Work Schedule: The Investments team works a standard Monday through Friday schedule, with core business hours of 6:00 a.m. to 3:00 p.m.

Onsite Expectations: Employees are expected to work onsite at least twice per month. During the onboarding and training period, which may last up to six months, employees may be required to work onsite more frequently. After the training period, onsite work will generally be limited to the minimum expectation, with additional onsite work scheduled as needed to support business and operational needs.

Equal Employment Opportunity (EEOC): OST is an equal opportunity employer committed to providing a workplace free from discrimination and harassment. OST provides equal access and opportunity to anyone who qualifies regardless of immigration status, race, color, religion, national origin, sex (including pregnancy and related conditions, sexual orientation, or gender identity), age (40 and older), disability, genetic information (including employer requests for, or purchase, use, or disclosure of genetic tests, genetic services, or family medical history) retaliation for filing a charge, reasonably opposing discrimination, or participating in a discrimination lawsuit, investigation, or proceeding.

Recruitment Assistance and Contact Information: For questions about this recruitment or for applicants in need of assistance during the application process, please contact Nadine Sordahl at (360) 902-8919 or via email to nadine.sordahl@tre.wa.gov. TTY users should first call 711 to access the Washington Relay Service.