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Secretary or company secretary – legally recognized "titled" corporate officer who reports to the board of directors and is responsible for keeping the records of the board and the company. This title is often concurrently held by the treasurer in a dual position called secretary-treasurer; both positions may be concurrently held by the CFO.
The ASM reports directly to the Secretary, through the Deputy Secretary. Until about 1985, the position was called the Assistant Secretary for Administration but included similar duties, absent CFO duties. As a senior management official in the Department, the ASM/CFO has an active role in the oversight of the bureaus.
A chief financial officer (CFO), also known as, is an officer of a company or organization who is assigned the primary responsibility for making decisions for the company for projects and its finances (financial planning, management of financial risks, record-keeping, and financial reporting, and often the analysis of data).
Corporate titles or business titles are given to company and organization officials to show what job function, and seniority, a person has within an organisation. [1] The most senior roles, marked by signing authority, are often referred to as "C-level", "C-suite" or "CxO" positions because many of them start with the word "chief". [2]
The position of Chief Financial Officer and Assistant Secretary for Administration was established by Public Law 83-471 § 304, July 2, 1954, 68 Stat. 430 (15 USC §1506). [2] His authority is delegated through Department of Commerce Organization Order 10-5 "Chief Financial Officer and Assistant Secretary for Administration".
A company's treasury operation, typically, is under control of the CFO or Vice-president / Director of Finance; and in larger entities is under a dedicated Treasurer. Operations are handled on a day-to-day basis by the organization's treasury staff, controller, or comptroller. [4]
The Chief Financial Officer of the government, the Secretary serves as Chairman Pro Tempore of the President's Economic Policy Council, Chairman of the Boards and Managing Trustee of the Social Security and Medicare Trust Funds, and as U.S. Governor of the International Monetary Fund, the International Bank for Reconstruction and Development ...
The Emergency Economic Stabilization Act of 2008 specified that one Assistant Secretary take on a specific role: Assistant Secretary of the Treasury for Financial Stability. [2] This role was abolished in June 2014 with the resignation of Timothy Massad .
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