OAL TREASURER

OAL Treasurer

The Office of Arkansas Lottery (OAL) Treasurer is responsible for overseeing all financial management and cash management functions of the Arkansas Scholarship Lottery. This position is responsible for ensuring the proper handling of all cash-related activities, including the receipt and disbursement of funds, cash forecasting, liquidity management, and maintaining the integrity of financial transactions. The OAL Treasurer will also play a key role in ensuring that financial operations align with the Arkansas Lottery's mission to maximize funding for Arkansas scholarships.

Primary Responsibilities :

• Oversee the management of the Arkansas Lottery's cash flow, ensuring there is adequate liquidity to meet operational needs, prize payouts, and other financial obligations.
• Manage the Lottery's daily cash position and ensure that all cash transactions are processed accurately and timely.
• Monitor and reconcile daily cash balances across multiple accounts, ensuring accurate tracking and reporting of all transactions.
• Oversee the administration of banking relationships, ensuring that appropriate financial institutions are used for deposits and cash management services.
• Oversee the claims center operations to ensure that all payments, including prize payouts, commissions, and vendor payments, are processed according to the Lottery's established policies and procedures.
• Prepare and maintain regular cash flow forecasts, providing senior management with visibility into expected revenue, expenses, and available cash balances.
• Oversee the accurate and timely disbursement of prize funds to winners, ensuring compliance with Lottery rules and regulations.
• Ensure that internal controls related to treasury functions, cash management, and disbursements are maintained to prevent errors, fraud, and financial mismanagement.
• Assist in the development and management of the Lottery's budget, with a particular focus on liquidity, cash forecasting, and financial needs for operational activities.
• Assist with the preparation of the Annual Comprehensive Financial Report (ACFR).
• Ensure the timely annual tax reporting to the IRS and the State of W2Gs for prize claimants, and 1099Rs for retailers.
• Ensure the timely filing of the annual escheatment reports and funds in compliance with the unclaimed property regulations.
• Assist in the OAL procurement processes to assure that all requirements of State Procurement Law are complied with.

Knowledge and Skills :

Minimum Qualifications :

The State of Arkansas is committed to providing equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, pregnancy, age, disability, citizenship, national origin, genetic information, military or veteran status, or any other status or characteristic protected by law.