Cash Management and Operations

 

Cash Management and Operations

 

The Cash Management and Operations team at Columbia University:

 

•   Manages the opening and closure of bank accounts (domestic and foreign) including the establishment of  appropriate signatory requirements

•   Arranges electronic access to bank accounts

•   Promotes electronic payments methods including electronic conversion of checks at point of sale

•   Selects and manages payment card merchant accounts and vendors

•   Opens and advises on the use of lockboxes

•   Manages the daily cash position including the short term investment of surplus cash and the initiation of wires (domestic and foreign)

•   Advises on the appropriate use of petty cash including the observance of internal controls

•   Receives, records and sells securities gifted to the University

•   Provides cash checking facilities on campus (payroll van)

•    Arranges the collection of foreign checks, the issue of letters of credit and other miscellaneous bank services