Why go into treasury?
A career in treasury is an opportunity to work at the heart of an organisation providing valuable support to all key functions. It’s the perfect career option for the ambitious finance graduate, as it is an exciting environment with high earning opportunities and job satisfaction.
The role of the treasury professional is extremely varied incorporating a range of professional disciplines underpinned by the Core Treasury Elements. See our information on the role of a treasurer here.
What I enjoy most is the sheer variety of the work that comes across my desk. Chris Wright, Group Treasurer, SSP Group Ltd
Whilst the skills demonstrated by a treasurer have been long accepted as vital to business success, the parameters of the treasury profession are still developing. Therefore, treasurers are often free from the rigid perceptions associated with more established corporate roles such as lawyers or accountants. Treasures have the scope to develop their own brief according to the strategic aims of an organisation.
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What makes a good treasurer?
An effective treasurer needs to analyse and absorb information quickly and have good accuracy and attention to detail.
The treasury profession is increasingly attracting innovative, numerate individuals with a good degree who are willing to take responsibility for what are often difficult decisions on treasury matters. Careful evaluation and control are required when using sophisticated and dynamic financial markets and financial instruments which help the company manage its foreign exchange and interest rate risks. Treasury can be a financially rewarding career and is often considered a necessary step to more senior positions in an organisation.
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What type of work and salary can I expect when I start my treasury career
You are likely to begin your career investing cash, dealing with foreign exchange or developing financial/risk models, and can expect a minimum starting salary of £25,000. Qualified treasurers with experience can expect a salary of £100,000+ with additional higher earning opportunities.
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Why go into treasury instead of accountancy or other financial areas?
It is important to remember that treasury does not compete with other financial professions such as accountancy, tax consultancy and chartered secretaries. Treasury is complementary to these professions and encapsulates many of the core financial skills required within them.
A key attraction of treasury is the breadth of topics which are relevant to the treasurer's work. At junior level, treasury opportunities can offer a chance to get to grips with financial activities such as analysis of live data, dealing and contact with relationship banks at an earlier than usual stage. In addition, the treasury department is usually small (except in very large corporates), allowing junior staff to work closely with a treasurer who is senior in the company. These factors often result in a steep learning curve for the enthusiastic new joiner.
In more senior roles, the treasurer is now taking on an increasingly proactive and visible corporate role as excellence in financial and risk management becomes a core competence. This has seen treasurers becoming responsible for related financial issues such as insurance, investor relations and elements of shared service centres. In an increasingly challenging global business environment this can help a business to develop its sustainable competitive advantage.
Treasury is emerging as a distinct career choice; specialist treasury professionals are therefore in more demand now than ever, and this trend is only expected to solidify. Ganesh Melatur, Assistant Director Finance, Interpol
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What kinds of companies can I expect to work in?
It is large (e.g. FTSE 250) and medium sized companies which tend to have dedicated treasury functions. A large corporate might have anything from 3 to 50 treasury staff. A medium sized company would usually have 1 to 5 employees in treasury. The numbers of staff will depend on the complexity of transactions and on the level of international activities in the company.
Many companies will be multinationals with group activities in the EU and beyond. This offers opportunities for travel to treasury staff.
Treasury opportunities also exist outside the corporate sector either in financial institutions (which tend to have large treasury departments with many specialist staff) or in the public sector in organisations such as housing associations, hospital trusts, educational establishments and government departments.
Start up companies and small businesses are unlikely to have a dedicated treasury function or vacancies for entry level treasury analysts. However, cash management is paramount in this type of enterprise and it is likely that a qualified treasurer (who would have knowledge of accounting, tax and administration) would be suitable for appointment as the senior financial officer of such a firm.
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What qualifications do I need?
Treasury as a career choice is perfect if you have just completed a finance-based degree; most disciplines are acceptable although accountancy, finance, economics or mathematics are the most useful. A masters degree in a financial/management related discipline will look good on your CV and will offer insight into new opportunities including treasury.
Treasurers learn on-the-job and by attending training courses and taking professional qualifications. Although there are a number of training programmes and part qualifications in the international market, the most comprehensive and internationally recognised qualifications for a professional treasurer are the ACT's AMCT Diploma in Treasury and the MCT Advanced Diploma in Treasury, Risk and Corporate Finance.
AMCT is ACT's core treasury qualification. It delivers understanding and knowledge of the essential topics within treasury, risk and corporate finance. MCT develops advanced strategic thinking and leads to the highest level of overall understanding within treasury risk and corporate functions. This qualification is regarded as MBA level and invaluable to anybody managing a complex treasury function and wanting to progress to more senior positions.
Our Certificate Papers are distance learning qualifications which are supplemented with face-to-face and e-learning support. Certificates are recognised as independent qualifications as well as counting towards the AMCT qualification. Certificates are a valuable contribution to Continuing Professional Development (CPD).
As a young treasury professional I think ACT qualifications are an excellent base for a career in treasury. Ewelina Sanecka, Treasury Advisor, PricewaterhouseCoopers
The ACT also offers a free programme of CPD services and provides resources and self-test study modules on core treasury areas.
Finally, the ACT has a comprehensive series of Events and Conferences and Training Courses from one to five days in length, covering all of the core treasury elements.
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What do I do if my question hasn't been answered here?
Please contact Phillipa with your question
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