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Treasury is fast becoming the career of choice for people who want to make their mark in finance, and combines the worlds of accountancy, banking and financial consultancy.
The Financial Director Journal has predicted that by 2014, more financial directors will be represented by the Association of Corporate Treasurers (ACT) than by any of the other professional finance bodies. So what has this relatively young profession got that other financial careers are lacking?
’Treasury combines some of the more complex areas of accounting and control, the deal-driven environment of banking and corporate finance, and the research, forward planning and risk-management skills expected of financial consultants,’ says Richard James, Director of Education at the ACT and former Group Treasurer of Cable and Wireless.
’Understanding the business environment you work in and the impact on its cash flows and financial and commercial risks is critical.’
What do treasurers do?
’Treasurers are specialists in liquidity and risk management – they have to ensure that their company achieves the best returns possible by managing currency and interest-rate risks, funding and liquidity positions,’ says Richard James.
’Many treasurers have previous professional training or postgraduate qualifications, most notably accountancy qualifications and MBAs. To this, they then add additional skills and attributes in corporate finance and risk management through the ACT’s qualifications.
’There is no such thing as a ’typical’ day in treasury – the environment is extremely varied and you have to be able to think on your feet. The ACT is the only treasury professional body in the UK whose primary objective is to support those who work in treasury, risk and corporate finance. Our qualifications are unique in providing expertise and skills in these vital areas.’
Qualifications and training
There are a few graduate-entry positions within large corporate firms, but most people go into treasury after a few years’ experience in another finance career.
The ACT’s qualifications provide theoretical and practical understanding to support those working in treasury, risk and corporate finance. There are two levels of qualification available.
The Diploma in Treasury, which leads to Associate Membership of the ACT, gives a thorough grounding in treasury, risk and corporate financial management. It is taught primarily through distance and e-learning and is split into two levels:
- Foundation Papers that provide basic financial training in key areas such as accountancy and tax
- Associate Papers that provide more detailed understanding and analysis, and illustrate the breadth of the modern-day treasury role.
Following on from the AMCT, the ACT also offers an Advanced Diploma qualification (MCT) in Treasury, Risk and Corporate Finance, which leads to membership of the ACT.
This is an MBA-level qualification that incorporates innovative delivery mechanisms, a flexible study programme and is assessed via an examination, a case study and an individual project.
Professional development
The ACT’s continuing professional development is an online knowledge centre, which contains a wide range of resources drawn from numerous sources. In addition, a range of non-qualification training courses and events are held throughout the year.
