Managing risk remains key

In these challenging times our members and those taking the ACT’s qualifications are equipped to play a vital part in ensuring that their organisations remain financially resilient. Volatility across all markets remains exceptional and a focus on management of financial – and enterprise – risk can never have been more important. Funding and liquidity management shows no sign of becoming any less critical, with availability and maintenance of credit at the heart of what many of our members are focusing on.

I have always found that the simplest explanation (at least it worked for my children when they were young) of what a treasurer does is to focus on the custodianship of cash – so that the workforce and suppliers can be paid as well as working capital and capital expenditure be funded. Nothing new there for the professional treasurer but how easily that function can be overlooked was part of the theme of a recent article in the Economist.

It is therefore timely to note that our annual cash management conference takes place on 27-29 January, with the theme of ‘achieving more for less’. In the same way as our two half-day events on the working capital cycle have proved to be very timely so I would encourage you to consider the benefits – for you or a colleague – of attending the conference.

We are launching in December an ACT faculty for those who have successfully taken the Certificate in International Treasury Management (CertITM). This will allow those who have taken the CertITM as a standalone certificate to remain in touch with the ACT, with a range of benefits that include access to updated course material. The launch of Faculties is an important part of our continuing strategy to ensure that the growing group of certificate holders can see a clear commitment from the ACT to provide continuing professional support that is not dependent on formal membership of the ACT.

The 2009 edition of The International Treasurer's Handbook will be reaching members very shortly. For members wishing to purchase additional copies there are generous discounts available through the website. We have also just launched the full training programme for 2009 and the continuing development of the courses we offer reflects our response to feedback from attendees and our commitment to ensure that the range reflects market needs. So the programme includes some established favourites (such as The Essential Guide to Treasury Security and Controls) as well as courses that continue to widen the area where the treasury team are expected to demonstrate understanding and competence (such as training in Ultimate Persuasion Techniques).

With so much happening both within the ACT and in the working lives of our members this may be quite the wrong time to choose to step down from the leadership of the ACT. However I am confident that the ACT team will build on the strategy, allowing our members and the ACT itself to play an ever more prominent role in risk and financial management globally. There is an exciting future for everybody.

By richard.j.raeburn@gmail.com