welcome to the world of treasury business... · welcome to the world of treasury i 2 treasury...

WELCOME TO THE WORLD OF TREASURY

A guide to an exciting global career in business and finance

1 I Welcome to the world of treasury

The Association of Corporate Treasurers (ACT) supports, informs and empowers the treasury and finance profession. We are a global network of over 7,000 members in over 90 countries.

Guidingthrough policy

& technical updates

Informingthrough

publications and webinars

Supportingthrough

membership services

Educatingthrough

professional qualifications

Networkingthrough

events and conferences

Shaping careers

through treasury training

Choosing to study an ACT qualification is

just the start. Once you qualify, and continue

your ACT membership, you can use your

designatory letters. These are what really set

you apart and offer a mark of professional distinction to your employers, peers and clients. Membership of the chartered body for

the profession shows you are serious about

your career and committed to maintaining

the very highest standards.

GET THE RIGHT KIND OF ATTENTION FROM EMPLOYERS AND RECRUITERS


Welcome to the world of treasury I 2

Treasury provides a vital link between the business and the external financial world.

Internally, treasury professionals must stay connected to the business. To achieve this, they need to be proactive in engaging with the business and understand how the organisation works at an

operational level. Treasury will influence strategic business decisions with the Board and heads

of departments. Treasury also needs to understand how each division is spending its cash and

when, so it can advise on risks / opportunities and plan accurate forecasts. This applies to all

areas of the business. Externally (in the financial world), the treasury professional is the main point of contact for banks, investment analysts, lawyers and regulators.

THE TREASURY

PROFESSIONAL

Accounting Reporting

Control

TaxRisk

Internal audit

Investor relations

IT

Operating units

Human resources

Legal

FUNCTIONS

THE CFO TEAM

The Board

Heads of department

Line staff

INSIDE THE BUSINESSOUTSIDE THE BUSINESS

Legal advisors

Regulators

Banks

Financial institutions

Investment analysts

Credit rating agencies

Tax advisors

Economists

Management consultants

Professional networks

ACT

Procurement

AT THE HEART OF EVERY BUSINESS LIES THE KEY FINANCE FUNCTION THAT IS TREASURYTreasury is a finance function that is vital to the financial health and success of every business.

Treasury determines a company’s financial strategy and policy, advising on where and how

to invest; organising the funding for this and controlling the financial risks involved. Because

treasury is such a vital component to any organisation, professionals who are skilled at

performing treasury functions will always be in high demand. Adding treasury to your skill set

opens up doors to a diverse and well paid finance career.


A FINANCE CAREER WITH VARIETYTreasury skills are highly transferable, valued and internationally relevant. Roles and responsibilities will vary depending on the size and nature of the business you are working in. In addition to technical competencies, treasurers develop important communication, leadership

and people skills which make for a well-rounded professional. Whether you decide to stay in

treasury or move into other roles, your experience will be enjoyable, challenging and full of

variety and your skills and knowledge in demand.

The difference between:

TREASURY ACCOUNTING INVESTMENT BANKING

Connects the business with financial markets

A financial reporting / internal control function in a business

Operates in a financial institution or bank, raising capital for clients

Emphasis on money, financial risks and wealth creation

Emphasis on financial position Emphasis on valuation, purchase and sale

Develops and implements financial strategies and policies to support business objectives

Manages transaction recording, profitibility, cost control, external reporting

Manages execution of funding transactions

Outward / forward lookingFinances future business success

Historic lookingAnalyses past events to influence future decision making

Outward / current lookingEstablishes price today and executes transaction

Effect on business:

immediate / future

Effect on business:

financial reporting

Effect on business:

facilitates funds

How treasury works with accounting and investment banking

Treasury is the vital link between the business and financial markets.

• Treasury works with accountants to understand the past so they can plan for the future

• Treasury works with investment bankers on complex transactions, e.g. mergers and

acquisitions.


Treasury skills are increasingly in demand. Employers rely on finance professionals with treasury expertise for their ability to make the most of all available money and resources, while managing risk and creating competitive advantage. Is a career in treasury for me?

A career in treasury is for you if you are

curious, interested in financial markets,

numerate and good at problem solving.

It’s also a great choice if you enjoy

making things happen and like working

with lots of different people.

You need a combination of technical,

finance and social skills, together with a

willingness to ask questions and become

closely involved in the business and its

people. It’s also important that you can

win trust, work ethically and act with

integrity and confidence when making

business decisions. Good communication

and interpersonal skills are key.

Skills and character traits include:

• good with numbers

• technically capable and willing to learn

and develop your skills

• problem solving, big picture thinker

• good at strategic thinking and planning

• curious about the wider business with a

desire to be in a pivotal role

• open to variety and challenge

• very good at attention to detail

• driven, hardworking and self-motivating

• outgoing and sociable

• a good communicator and influencer

• confident to work with people at all

levels and from different fields

• conservative in terms of financial risk

and confident in handling it

HIGHLY TRANSFERABLE, VALUED AND INTERNATIONALLY RELEVANT SKILLS

EXCELLENT EARNING POTENTIALSalaries vary depending on the size, location and nature of the business. The role and your level of experience will also influence how much you are paid.

Graduates working in London, UK, entering treasury at a junior level tend to earn 35 - 55k GBP, mid-level roles rise to 60 - 90k GBP and senior roles fetch upwards of 125k GBP. Professional qualifications can make a real difference with earning potential and eligibility for promotion. ACT qualifications are internationally recognised, respected industry wide and can have a positive effect on your potential.


Abu Dhabi Commercial BankAdidasAfrican Development BankAkzo NobelAl FahimAl FuttaimAmerican Express ANZ ArcelormittalArupAstrazenecaAT&TAvivaBacardi-MartiniBank of America Merrill LynchBank for International SettlementsBank MuscatBank of EnglandBank of Zambia Barclays

Standard BankPakistan State OilPwCQuantasRabobankRalph LaurenRBSRio TintoRolls RoyceSchneider ElecricShellSiemensTata CapitalTelefónica UKThe Walt Disney CompanyUBSUnileverVirgin MediaVodafone

Bear StearnsBHP BillitonBlackrockBloombergBNP ParibasBPBritish American TobaccoBurberryBurton Foods LimitedCapitaCentral Bank of IrelandCitiCredit Suisse Danske BankDeloitteDeutsche BankDiageoEBRD EurostarEmirates NBD ExxonmobilGlaxoSmithKline

HarrodsHilton WorldwideHouse of HabibHSBCHugo BossIBMIkeaInformaInterpolJohnson & JohnsonJP MorganJumeirah GroupKazakhmysKelloggKodakKPMGMajid Al Futtaim Holding LLCMetro BankMitsubishiMubadala GENational Australia Bank National Bank of Abu Dhabi

What kind of organisations do ACT members work for?

TREASURY IN PRACTICE

What kind of job titles do ACT members have?

AdvisorAnalystAssociate Director, Debt AdvisoryAssociate Director, Infrastructure AdvisoryAuditorCEOCFOClient Cash ManagerCommercial DirectorCOOCorporate Finance LeadCorporate Tax PartnerDirector of Corporate DevelopmentDirector of Corporate FinanceDirector of Strategic PlanningDirector, Business Risk ServicesFinancial AdvisorFinancial AnalystFinancial ControllerFinancial AccountantFX SpecialistGeneral Manager - Portfolio ManagementGroup Funding ManagerGroup TreasurerHead of Cash Management

Head of Financial Planning & ReportingHead of Group AuditHead of Liquidity and InvestmentsHead of Risk & InsuranceHead of Treasury AdvisoryManaging DirectorMerger & Acquisitions DirectorPartnerPartner – Leasing & Commercial FinancePartner, Transaction Advisory ServicesPrincipal, Corporate Recovery ServicesRelationship ManagerSenior Audit ManagerSenior ManagerSenior Manager – Capital MarketsSenior Vice PresidentStructured Finance ManagerTax & Treasury DirectorTax Partner – Business Tax ServicesTransfer Pricing ManagerTreasurerTreasury AdvisoryTreasury AnalystTreasury Consultant

Having treasury skills leads to a rewarding, exciting and varied career that helps shape the future of an organisation’s financial strategy. You could work in any industry from music to mining! The skills you acquire are easily transferable, meaning that you can work anywhere in the world. It’s a truly global function. Treasury applies to such a broad range of industries and roles in corporate and financial institutions and consultancies. Have a look at just a few examples below!


FAST TRACK TO ACT QUALIFICATIONSWe are delighted that Kingston Business School is an ACT Accredited University. As a student on the BSc Accounting and Finance, MSc Finance, MSc Accounting and Finance, MSc Financial Business Management, MSc Banking and Finance or the MSc Investment and Financial Risk Management programme you can take advatage of the exemptions you will have earned through your university studies to gain the ACT’s internationally recognised professional accreditation.

ACT qualifications pathway

The ACT has a progressive learning path. This means there is a qualification to suit your needs at

whatever level you are at. You can study to support your career development as your progress

from a junior to more senior position or jump on and off the study pathway at your appropriate

level.

• Certificate in Treasury Fundamentals

• Certificate in Treasury

• Diploma in Treasury Management

• Advanced Diploma in Treasury Management

In addition, we provide specialist cash management qualifications, the Award in Cash

Management Fundamentals and the Certificate in International Cash Management.

What this means for you

Completing your finance course means that you are exempt from the Certificate in Treasury

Fundamentals. Depending on the modules you have studied, you may also be exempt from

certain units of the Certificate in Treasury.

CERTIFICATEin Treasury

Fundamentals

CERTIFICATEin Treasury

DIPLOMAin Treasury

Management

ADVANCED DIPLOMAin Treasury

Management

Tactical (entry) level

Operational level

Managerial level

Strategic levelYou are exempt

You may have

exemptions

ACT QU

ALIFICAT

IONS PA

THWAY

All information and prices correct at time of publication, January 2019, but may be subject to change. Please visit academy.treasurers.org for the very latest updates.

CERTIFICATE IN TREASURY (CertT)

Shaen Cullen initially started out in accountancy, but preferred the scope of treasury. Now, as senior treasury analyst with The Walt Disney Company, his role entails dealing with cash operations and investments, liquidity management, treasury tax planning and intercompany loans.

Recommended to him by his mentor, the course, says Shaen, “has given me the tools to expand upon my current responsibilities and take on more strategic operations, such as capital markets. I also feel I better understand international cash management since completing CertT. ACT qualifications are instantly recognisable by anyone in the industry.” Shaen studied for the CertT through the ACT Learning Academy, the ACT’s official study centre. It offers maximum flexibility and delivers resources online through the latest learning management system. His experience of it was certainly a positive one: “It’s a great resource. The flexibility for participation, via forums, is ideal for professional workers, who are otherwise restricted in their ability to attend classes.”

WHAT TO EXPECT

You’ll become a trusted treasury professional, relied upon for your operational competencies and technical know-how. You’ll add value to the business or your clients by offering practical guidance to colleagues, while driving continuous improvements.

COURSE CONTENTFive compulsory units - one assessment per unit

1. The context of treasury 2. Cash and liquidity management 3. Corporate finance 4. Ethics, governance and regulation in treasury 5. Risk analysis and management

ACT MEMBERSHIP LEVEL

You are a student member while you study. Complete the certificate and you are eligible to become an Affiliate Member.

ASSESSMENT METHODS

ONLINEASSESSMENT

PER UNIT

(2 HOURS)

STUDY TIME

6-12MONTHS


GENERAL EXEMPTION INFORMATIONDepending on the modules you have completed you will be exempt from up to four units within

the Certificate in Treasury. You will need to complete the exemption form and pay the correct

fee to receive these exemptions. The exemption fee is £155* per unit.

In order to complete the Certificate in Treasury, you will need to complete up to four units. The

costs associated with this are:

£155* per assessment/exam

£385* per unit to access the material

All ACT students need to pay a one-off student membership fee of £173.

*Fees are subject to applicable sales taxes/VAT

You have six options to choose from...

Successful BSc Accounting and Finance graduates qualify for two exemptions from the Certificate in Treasury: Unit 1:Context of treasury and Unit 3:Corporate finance.

You would therefore only need to complete 3 units to gain the Certificate in Treasury qualification. Once the Certificate in Treasury has been completed you can become an Affiliate member of the ACT.

The fee to complete the Certificate in Treasury qualification is: Exemption fees for Unit 1 and 3 of the Certificate in Treasury (£155 each) £310*Assessment/exam fee (3 units, per attempt) £465*Online course fee (ACT Learning Academy) (3 units) £1,155*Student membership fee £173

Visit treasurers.org/universityexemptions to claim your exemptions.

OPTION 1: CERTIFICATE IN TREASURY FOR BSC ACCOUNTING AND FINANCE GRADUATES

Successful MSc Finance graduates who have taken and passed the BA 7020 International Money & Finance module qualify for exemptions from the Certificate in Treasury Unit 1:Context of treasury, Unit 2:Cash and liquidity, Unit 3:Corporate finance and Unit 5:Risk analysis and management.

You would therefore only need to complete 1 unit to gain the Certificate in Treasury qualification. Once the Certificate in Treasury has been completed you can become an Affiliate member of the ACT.

The fee to complete the Certificate in Treasury qualification is: Exemption fees for Unit 1, 2, 3 and 5 of the Certificate in Treasury (£155 each) £620*Assessment/exam fee (1 unit, per attempt) £155*Online course fee (ACT Learning Academy) (1 unit) £385*Student membership fee £173


OPTION 2: CERTIFICATE IN TREASURY FOR MSC FINANCE GRADUATES


Successful MSc Accounting & Finance graduates who have taken and passed the BA 7020 International Money & Finance module qualify for three exemptions from the Certificate in Treasury Unit 1:Context of treasury Unit 2:Cash and liquidity and Unit 3:Corporate finance.


The fee to complete the Certificate in Treasury qualification is: Exemption fees for Unit 1, 2 and 3 of the Certificate in Treasury (£155 each) £465*Assessment/exam fee (2 units, per attempt) £310*Online course fee (ACT Learning Academy) (2 units) £770*Student membership fee £173


OPTION 3: CERTIFICATE IN TREASURY FOR MSC ACCOUNTING & FINANCE GRADUATES

Successful MSc Financial Business Management graduates who have taken and passed the BA 7101 Risk Financing module qualify for one exemption from the Certificate in Treasury: Unit 3:Corporate finance.


The fee to complete the Certificate in Treasury qualification is: Exemption fees for Unit 3 of the Certificate in Treasury (£155 each) £155*Assessment/exam fee (4 units, per attempt) £620*Online course fee (ACT Learning Academy) (4 units) £1,540*Student membership fee £173


OPTION 4: CERTIFICATE IN TREASURY FOR MSC FINANCIAL BUSINESS MANAGEMENT GRADUATES

Successful MSc Banking & Finance graduates who have taken and passed the BA 7020 International Money & Finance module qualify for three exemptions from the Certificate in Treasury: Unit 1:Context of treasury, Unit 3:Corporate finance and Unit 5:Risk Analysis and Management.


The fee to complete the Certificate in Treasury qualification is: Exemption fees for Unit 1, 3 and 5 of the Certificate in Treasury (£155 each) £465*Assessment/exam fee (2 units, per attempt) £310*Online course fee (ACT Learning Academy) (2 units) £770*Student membership fee £173


OPTION 5: CERTIFICATE IN TREASURY FOR MSC BANKING & FINANCE GRADUATES


Successful MSc Investment and Financial Risk Management graduates qualify for two exemptions from the Certificate in Treasury: Unit 3:Corporate finance and Unit 5:Risk Analysis and Management.


The fee to complete the Certificate in Treasury qualification is: Exemption fees for Unit 3 and 5 of the Certificate in Treasury (£155 each) £310*Assessment/exam fee (3 units, per attempt) £465*Online course fee (ACT Learning Academy) (3 units) £1,155*Student membership fee £173


OPTION 6: CERTIFICATE IN TREASURY FOR MSC INVESTMENT AND FINANCIAL RISK MANAGEMENT

GRADUATES

WHY YOU SHOULD JOIN THE ACTKingston Business School has agreed a special arrangement to enable you to take advantage of exemptions gained through your studies and become a member of the ACT.

As a member you will gain:

• Membership of the only chartered professional body in treasury

• Access to the latest financial thinking through The Treasurer magazine, policy and

technical support, blogs and newsletters

• Your exemption and membership information to add to your CV, making you more

marketable to employers

• A global network to support you throughout your career journey

• Access to thought-leaders of the profession through blogs, webinars and events

• Tailored treasury career information through the Career Hub

• Access to experienced mentors to help you get the best out of your financial career

• Direct access to a member of the ACT’s technical team through the membership

helpline

You can find out more about ACT membership at treasurers.org/membership

“MY ACT MEMBERSHIP HELPS ME TO KEEP UP-TO-DATE WITH THE LATEST TREASURY DEVELOPMENTS. IT PROVIDES RESOURCES FOR BOTH TECHNICAL AND PROFESSIONAL SUPPORT, ALONG WITH NETWORKING OPPORTUNITIES AT LOCAL, NATIONAL AND FOR THOSE BASED OVERSEAS, WORLDWIDE EVENTS.”Mary Finn, Treasurer, Burton Foods Limited

DID YOU KNOW?

of treasurers would pick treasury as a career if they

were starting again

87%Source: Hays treasury recruitment survey 2016



CONTACT INFORMATIONIf you have any questions, please contact

the ACT Learning and Member Support

team.

Email: [email protected]

Telephone: +44 (0)20 7847 2529

FURTHER INFORMATIONCertificate in Treasury Fundamentals Course information:treasurers.org/certtf

Assessment information:treasurers.org/professional-standards/

assessment/certtf

Certificate in Treasury Course information:treasurers.org/certt


assessment/certt

Diploma in Treasury Management Course information:treasurers.org/diptm


assessment/diptm

Advanced Diploma in Treasury Management Course information:treasurers.org/advanced-diploma


assessment/advanced-diploma

TREASURERS.ORG

FOLLOW US @ACTupdate

facebook.com/actupdate

treasurers.org/linkedin

youtube.com/treasurersorg

“ACT QUALIFICATIONS BROADEN YOUR KNOWLEDGE BASE, INCREASE YOUR TECHNICAL EXPERTISE AND ENCOURAGE YOU TO CONSIDER THE BROADER STRATEGIC PICTURE - ALL

OF WHICH MAKES FOR A MORE WELL-ROUNDED AND EMPLOYABLE

INDIVIDUAL.”Rachel Pether,

Assistant Manager, Financial Risk, Group Treasury, Mubadala GE

welcome to the world of treasury business... · welcome to the world of treasury i 2 treasury...

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