Treasury positions are crucial to the health and success of many businesses. The larger a company becomes, the more it relies on its accounting and financial services in treasury to make sure it’s financially stable. Many people seek jobs in treasury because they are available in so many industries and often can lead to lucrative careers. In this article, we discuss what jobs in corporate treasury entail, nine jobs in corporate treasury, and some skills you can develop to excel in this field.
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What are Jobs in the Treasury?
Jobs in corporate treasury handle a business’s cash flow to increase profits while also planning for expenditures to help grow the business. They manage the company’s budget to keep track of the revenue that comes in and the immediate costs of doing business, like labor and materials. After these expenses, they use the cash left over for business planning.
Besides handling the budget, corporate treasurers also plan financial moves beyond just the immediate costs of doing business. They can have a variety of responsibilities and roles depending on how large a company is and how complex its investments are. Corporate treasury can pay loans, manage stock investments, and analyze the risk of new acquisitions.
Positions within Treasury
If you want to work in corporate treasury, here are some jobs that may interest you:
Treasurer
Major or multinational companies in all industries hire treasurers to manage financial opportunities and risks. Treasurers manage cash flow, analyze the company’s current financial well-being, and determine the cost and risk of any future financial decisions. Many treasurers have certifications from the Association for Financial Professionals or the American Institution of Certified Professional Accountants.
Assistant treasurer
An assistant treasurer, or a deputy treasurer, assists the treasury team with administrative duties and has the opportunity to grow into a treasurer position. An assistant treasurer may perform duties like maintaining relationships with banks, managing foreign and day-to-day exchange operations, and assisting the treasurer with cash management operations.
Assistant treasurers also often hold certifications from the Association for Financial Professionals and the American Institution of Certified Professional Accountants.
Director of treasury
A director of treasury handles the management initiatives for the entire treasury or financial department, such as implementing accounting software and finding department structures that are effective and low-cost. They also develop investing initiatives and long-term plans for the department that can guide the work of the entire treasury team.
Directors of treasury can hold certifications from the Association for Financial Professionals or the American Institution of Certified Professional Accountants. They also may need at least five to eight years of management experience. They are more likely to have been at one company for an extended period, so they are familiar with the systems in place and the overall goals of the company.
Cash manager
The cash manager oversees all daily cash transactions within a business, as well as a team of assistants and analysts. Specifically, they manage the money left over from the revenue after the company has paid all costs. They monitor liquidity, meaning the amount of exchangeable assets a company has, and they make projections about how much cash a company may have at future intervals. They typically report to the director of finance.
Cash managers can hold certifications from the Association for Financial Professionals and the American Institution of Certified Professional Accountants.
Assistant cash manager
An assistant cash manager, also sometimes called a cash analyst, reports to the cash manager and helps manage the cash transactions within a business. They uphold company policies when handling cash payments, receipts, and disbursements.
An assistant cash manager can have a certification from the Association for Financial Professionals. They also usually need a strong understanding of the processes of financial institutions and regulations.
Financial risk manager
A risk manager analyzes financial investments for their risk, meaning how likely they are to lose money. They figure out financial steps that have the highest gain with the lowest amount of risk for the company. They typically work for major banks, accounting agencies, or regulatory bodies.
A risk manager can have a Financial Risk Manager Certification from the Global Association of Risk Professionals. They can specialize in credit risk, meaning the business’s likelihood to repay a loan, or market risk, meaning a company’s market investments.
Tax director
A tax director devises and implements strategies so the business pays the lowest amount of tax allowed within the law. They are primarily responsible for preparing tax documents, organizing and ensuring the document’s accuracy, and filing taxes for the company.
A tax director typically has at least five years of experience working in accounting or finance to support their understanding of tax statutes. To become a director, they may also have extensive experience at one company, ensuring they are familiar with the company’s procedures and taxes.
Transaction services analyst
A transaction services analyst provides financial advice related to acquisitions and mergers. They typically work for a professional services firm as a third party during business transactions. They complete the due diligence reports that ensure the business transactions are legal and both companies are accurately representing their financial standing.
Chief financial officer (CFO)
A chief financial officer oversees all financial functions at a company. They are the top-level officers responsible for managing the operations of the financial department and making all financial decisions regarding long-term planning. As executive-level members of the company, they also consult on operations for the entire company outside of financial services.
A CFO can be the highest-ranking financial professional in the company, so they may have several years of experience and education in accounting and finance. They may also work with chief executive officers and company presidents to construct a cohesive plan for their company.
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Skills for jobs in treasury
If you are interested in a job in treasury, you can use the following skills:
Mathematics
Treasury positions handle accounting functions and record keeping. You may need to keep detailed balance sheets, calculate statistics, and use data to make qualitative predictions for the company. This can require familiarity with numbers or a willingness to learn complex functions.
Analysis
Many jobs in treasury require you not only to perform mathematical functions but also to be able to read into those solutions to understand what they mean for your company. You may make forecasts or form perspectives on situations based on data analysis. It’s also important to be able to explain your analysis to company decision-makers in an easy-to-understand manner.
Strategic thinking
The more you advance within treasury positions, the more you may make strategic decisions about risk for your company. Developing strategic thinking skills can help you make informed choices that take risks and rewards into account based on the data available.
Computer programs
Many accounting and financial departments use spreadsheets and accounting software to maintain the accuracy and efficiency of their books. It’s helpful to learn about different programs and how to use the different functions available to make your work more efficient.
I hope you find this article helpful.