Assistant Treasurer Scott Dwyer has worked in varying roles at Carolina for the past 15 years and now works on finance projects that keep our brick and mortar campus standing strong. Treasury Services, within the Office of the Treasurer, has three employees and is located at the Administrative Office Building.
What is a typical day like in your job?
Our work is very project based so there really isn’t a typical day. We have broad team projects that involve, among other things, the planning, negotiating, structuring and executing large bond financings. Some short-term projects relate to monthly, quarterly and yearly fiscal responsibilities for things like management reporting, cash and short-term investment monitoring, accounting and bond rating agency reporting. Many of these activities involve coordination with other Finance and Operations staff, other University units and a network of external advisors.
How does your job support Carolina’s mission?
Fundamentally, the University supports the people of the state – through education, research and public service. For that support to take place, there needs to be physical spaces to do that work in, and that’s where we come in. We help the University secure the funding for building renovations and new construction. This involves a variety of projects that include the structures themselves plus the utilities that support campus.
What’s the main purpose of the unit?
The Office evaluates and implements best practices in cash, debt, and treasury management; plans and executes external financings to meet the University’s (or Foundation’s) funding needs. From a big picture standpoint, our main deliverable is the overall management of the University’s debt portfolio and oversight of the investment of the University’s operating funds. This includes, among other things, the planning and execution of financing transactions, capital funding, management of the external credit rating of the institution, management of the liquidity needs, meeting compliance and regulatory demands, and servicing external financial debt payments and related obligations.
Who are your customers?
We work directly with units that sponsor capital projects –like Energy Services, Housing, Parking, Athletics, Dining, Student Affairs, the College of Arts and Sciences, several individual schools and central administration for other research and academic buildings. For instance, a recent project we funded with debt was the Craig Parking Deck expansion. Beyond those borrowers, we also serve senior administration in Finance and Operations and associated entities of the institution. Our customers outside the University are more broad — we have an obligation to provide annual financial information to those who hold and rate our bonds, which involves regulatory disclosures and required annual reports.
What do you like most about your work?
I like the dynamic nature of our work and the view we have of the institution. Specifically related to the credit rating, we get exposure to not only a deep dive into the financial health of the organization, but we also correspond directly with several units and members of the institution that help shape and drive the qualitative factors. For example, during a credit review, we are fortunate to get a full strategic perspective of the institution that includes both financial and non-financial factors such as development, research, student demand, investments, and financial aid. This exposure provides a holistic perspective to the University that is enjoyable to be part of.
What’s something people don’t know about you or your job?
In my spare time, I enjoy landscape oil painting.