Positive UK data pushes the pound higher

| 23-1-2020 | treasuryXL | XE |

Although based on XE’s previous article, the Sterling has been pressured since the beginning of the year resulting in the GBPUSD drop from the highs of 1.35 post-election to the levels of 1.2975, it seems the GBPUSD is recovering following the release of stronger-than-expected UK jobs reports.

Sterling gained yesterday following the release of stronger-than-expected UK jobs report, GBPUSD moved from 1.2980 up to 1.3050. According to the Office for National Statistics (ONS), the UK Average Weekly Earnings (Including Bonus) recorded a growth of 3.2% during the three months to November as compared to consensus estimates pointing to a modest downtick to 3.1%. The gauge excluding bonuses came in at 3.4% as against 3.5% previous but was in line with market expectations.

Other details showed that the number of people claiming unemployment-related benefits fell to 14.9K in December. The strong data slightly dented expectations of an interest rate cut by the Bank of England at its upcoming meeting on January 30 and provided a modest lift to the British pound. However, the markets are still pricing in about a 60% chance of a 25 bps rate cut. Moving forward the markets will continue to look towards the Bank of England rate decision at the end of the month for guidance on Sterling. Should we see rates on hold we could see Sterling strengthen considerably in the aftermath.

EURUSD has remained fairly flat and continues to trade just below the 1.11 level. It is a data light day from Europe and the US markets await employment data tomorrow for any significant moves.

GBPUSD – 1.3046

GBPEUR – 1.1776

EURUSD – 1.1077

The figures are based on the live mid-market rate, correct as of 08:30 GMT on 22/01/2020, and are provided for indicative purposes only. Live mid-market rates are not available to consumers and are for informational purposes only. The rates we quote for money transfer can be selected via the page on our website ‘Live Money Transfer rates’.

Source

Get in touch with XE.com

About XE.com

XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.

Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.

Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.

Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.

 

 

Visit XE.com

Visit XE partner page

 

 

 

Looking for a Corporate Treasury Specialist

22-01-2020 | Treasurer Search | treasuryXL

Our partner Treasurer Search is looking for a Corporate Treasury Specialist:

 

The specialist will start with a focus on operational tasks like cash management, reporting & analysis whilst managing the group guarantee portfolio and act as EMEA coordinator on trade finance. Gradually she can move forward into projects and other front office tasks. Being able to back up other treasury team members is an embedded expectation. The last decade has shown there are always more than enough challenging corporate treasury projects and successful team members can move forward in responsibilities.

Ideal Corporate Treasury Specialist

The ideal candidate has a relevant degree and one or two career steps in corporate treasury. Her current position could have the job title treasury analyst, cash manager or treasury accountant. She might have experience working in a bank or consultancy, a corporate is more likely. All team members show a constant interest in financial market developments and expect their new colleague to share this. As a person she brings the right balance between being proactive and ambitious on one hand, and being patient and modest on the other hand (teamplayer). Sense of timing and communicating well is key in this, as is non-opportunistic behaviour and thorough thinking. Speaking Dutch would be an asset, not a must.

Our Client

Our client is a multi-billion $ manufacturing company with a global presence and both USA as well as Asian influences. The European treasury team is part of a small and stable group holding organisation with several international “rest of world” responsibilities. The team covers a broad spectrum of corporate treasury tasks in corporate finance, cash and risk management. Given a recent major acquisition, the team is co-tasked to integrate the new business on its platforms & protocols during the 2020 -2021 period. Communication with colleagues and external parties from around the world is part of the daily routine. Although the team already performs at a very high level, the world changes constantly and ambitions are high. Further projects are scheduled. Our client works with SAP, including the TR module.

Remuneration and Process

Depending on the track record of the candidate, the base salary will be between €45K and €60K and a bonus plan can be part of the remuneration package. Our client can offer long term career perspectives. The Treasurer Test might be part of the recruitment process.

Contact person

 

T: (0850) 866 798
M: (06) 2467 9339

 

 

 

Seminar SAP S/4HANA – What treasurers need to know

| 21-01-2020 | by treasuryXL |

Are you dealing with the replacement of existing SAP-systems with SAP S/4Hana and its impact on treasury departments? Discover the opportunities offered by this transition and what you need to be aware of by attending the SAP S/4Hana seminar on June 25, 2020 in Amsterdam organised by Schwabe, Ley & Greiner (SLG).

The transition to SAP S/4HANA

Many companies are currently transitioning to SAP S/4HANA. Hardly any other issue is presently as hot in IT departments of SAP clients. Treasury departments are also affected by the switch of their companies’ ERP systems.

It is therefore helpful, as a treasury department, to address this issue regardless of the extent to which you have relied on SAP in the area of treasury in the past. Why? Because these changes are going to impact everyone. Irrespective of whether you use a stand-alone TMS (in this case, at least because the interfaces and data sources will change) or your processes are reflected using SAP treasury modules (in this case the impact will of course be greater since your own systems will be affected by the switch).

Many corporates are taking the opportunity offered by the switch to the new SAP version to integrate their systems to a greater extent. As such, the fundamental question of what system to use also arises. This could be an opportunity to efficiently design your treasury processes using a new or optimised system-based solution.

What key issues are covered in the seminar?

  • SAP S/4HANA – an overview of what’s new compared to the old version
  • How your future system landscape needs to be configured – which options are available and what to pay attention to
  • Understand the IT approaches relevant to the S/4HANA launch
  • What to do during the transition while selecting a new system – possible strategies
  • A quick insight into the system: SAP S/4HANA
  • A quick insight into the system: SAP Analytics Cloud (SAC)

Target Audience

Managers and personnel in the areas of treasury, cash and liquidity management, risk management, controlling, finance and accounting, payables and receivables management, IT and SAP applications.

Objectives

1. SAP S/4HANA – an overview of what’s new compared to the old version.

  • General system architecture
  • The new design – web-based interface as an alternative to the SAP GUI
  • Which new features does SAP S/4HANA offer in the area of treasury?
  • A brief explanation of the new models: SAP Cloud Platform (connection to external systems), SAP Analytics Cloud (new approach to reporting and forecasting) and SAP Leonardo (machine learning)

2. How your future system landscape needs to be configured.

  • An overview of possible scenarios
  • What if you already use SAP treasury modules and there’s a switch to S/4HANA? What’s going to change? Which functions will have to be modified? Which functions are going to be added? Which licenses will you need?
  • Integrated system v. side-by-side approach – which advantages and disadvantages are there?
  • How can your existing non-SAP TMS be integrated into an SAP landscape?
  • If you currently use a non-SAP TMS, does it make sense to fully or partially switch to using SAP treasury modules?

3. Understand the IT approaches relevant to the S/4HANA launch

  • Greenfield v. brownfield approach; on-premise v. cloud strategy
  • Why is it also important for treasurers to understand their IT strategy?
  • What do these approaches mean for treasury departments?
  • S/4HANA best practices

4. What to do during the transition while selecting a new system – possible strategies

  • Treasury now needs a new system-based solution but it’s going to take time to implement the new S/4HANA system landscape
  • Possible interim solutions
  • Can and should your treasury department be the test bed for S /4HANA?
  • When is it better to wait?

5. A quick insight into the system: SAP S/4HANA

  • Navigation
  • New look and feel
  • Insight into several important apps

6. A quick insight into the system: SAP Analytics Cloud (SAC)

  • Brief overview
  • Comprehensive treasury reporting in real-time
  • SAC options in cash flow forecasting

Participation

The participation fee for the seminar is EUR 1,500.00 (ex VAT). This includes documentation, lunch and beverages.

Register with 20% discount via treasuryXL

We are delighted to give you the opportunity to register for the seminar with a 20% discount. Please be aware that discounted places are limited. The seminar allows a maximum of 15 attendees. We recommend to sign up early to secure your spot. You can use code treasuryXL20 at check out to receive your discount.

You can register here.

Date, Time & Location

Thursday, June 25 – 2020

10:00 – 18:00

Hotel NH Amsterdam Schiphol Airport
Kruisweg 495,  2132 NA Amsterdam

Lecturer

Florian Maak

Manager at Schwabe, Ley & Greiner

 

 

 

 

About Schwabe, Ley & Greiner

Schwabe, Ley & Greiner (SLG) has been in existence for more than 31 years and is the leading consultancy firm in the area of finance and treasury management. During these years, they have carried out more than 5,000 projects mainly in Germany, Austria and Switzerland for over 2,000 large and medium-sized clients in all sectors and on behalf of these clients for their subsidiaries in almost all Western European countries and overseas.

 

Visit website

17 terms investors need to know about

20-1-2020 | by Rowan Hermes | Ilfa Group

Our partner ILFA group wrote a blog about 17 terms all investors need to know about.

Blog is in Dutch language:

Nominale waarde, credittoets, trustakte… Als nieuwe investeerder belandt u in een wereld met een hele eigen terminologie. Wij vinden het belangrijk dat iedereen, ongeacht zijn of haar ervaring met investeren, zo goed mogelijk geïnformeerd is voordat wordt overgegaan tot de aanschaf van obligaties bij AndersFinancieren. Daarom zetten wij voor u de belangrijkste termen op een rijtje.

Obligaties

Obligatielening

Een obligatielening wordt uitgegeven door de uitgevende instelling. Het is meestal een geldlening op lange termijn opgedeeld in delen met dezelfde waarde en rechten. De lening wordt afgesloten met meerdere investeerders. Deze investeerders krijgen elk een schuldbewijs, oftewel obligatie.

Uitgevende instelling

Een instelling die obligaties uitgeeft of van plan is om dit te doen. Een instelling kan zowel een rechtspersoon, overheid, internationale organisatie of instelling zijn.

Obligatie

Een obligatie is het schuldbewijs van een uitgevende instelling aan een investeerder. In andere woorden is een obligatie het bewijs dat de investeerder geld heeft uitgeleend aan de uitgevende instelling.

Nominale waarde

De nominale waarde van een obligatielening is het totaalbedrag dat de uitgevende instelling met de lening wil ophalen. Dit bedrag wordt in gelijke stukken gedeeld, de obligaties.

Obligatiehouder

De eigenaar van een of meerdere obligaties. Deze persoon heeft normaalgesproken recht op rente en de terugbetaling van de obligatiewaarde aan het einde van de looptijd.

Rente

Als tegenprestatie voor het uitlenen van geld wordt rente uitgekeerd aan de obligatiehouder. Op maandelijkse of jaarlijkse basis wordt een vast of variabel percentage uitgekeerd. Na de looptijd wordt de waarde van de obligaties uitbetaald.

Converteerbare obligaties

Een converteerbare obligatie is een speciale vorm van obligaties, deze kunnen omgezet worden naar aandelen van de uitgevende instelling. Vooraf is bepaald hoeveel aandelen een obligatie waard is.

Achtergestelde obligaties

Wanneer de uitgevende instelling de lening niet terug kan betalen, komen houders van achtergestelde obligaties achteraan op de lijst van schuldeisers te staan. Het risico dat de lening niet wordt terugbetaald is groter, waardoor het rentepercentage meestal hoger is.

Risico’s en zekerheden

Risico’s

Investeren is risicovol. De kans bestaat dat u (een deel van) uw ingelegde geld verliest, omdat de uitgevende instelling niet in staat is de lening (volledig) terug te betalen. Echter, zonder risico zal een investering geen geld opbrengen.

Zekerheden

Een obligatie brengt niet alleen risico’s, maar ook zekerheden met zich mee. Zekerheden zijn onderpanden of waarborgen in de vorm van geld, goederen, voorraden of rechten. Wanneer de lening onverhoopt niet terugbetaald kan worden, kan de obligatiehouder het onderpand opeisen.

Hypotheekrecht

Wanneer een obligatielening wordt uitgegeven, kan hypotheekrecht een zekerheid zijn. Het hypotheekrecht houdt in dat het onderpand verkocht wordt en uit de opbrengst worden de obligatiehouders terugbetaald.

Pandrecht

Een pandrecht is vergelijkbaar met een hypotheekrecht. Het grootste verschil is dat een hypotheekrecht over onroerende goederen gaat (bijvoorbeeld grond en gebouwen), terwijl een pandrecht niet op onroerende goederen gevestigd kan worden. Een pandrecht kan wel op veel andere zaken gevestigd worden, bijvoorbeeld inventaris, auto’s, voorraad of aandelen.

Eerste of tweede rang

Een eerste recht betekent dat de obligatiehouders als eerste hun geld zullen ontvangen, ze hebben voorrang op andere partijen. Een recht tweede in rang betekent dat eerst de houders van het eerste recht betaald zullen worden. Als er geld over is, zijn de houders van het tweede recht aan de beurt.

Credittoets

Naast zekerheden die de kans vergroten dat u ingelegd geld terugkrijgt, zijn er ook instrumenten die u helpen om te bepalen of de risico’s van een obligatie bij u passen. Zo is een credittoets een betrouwbare, onafhankelijke toets van de kredietwaardigheid en kwaliteit van de uitgevende instelling, haar management en plannen. Ook wordt er gekeken naar onder andere duurzaamheid, sociale impact en de waarde van het onderpand.

AndersFinancieren

AFM

Het publiek, het bedrijfsleven en de overheid moeten vertrouwen kunnen hebben in de financiële markten en dat financiële instellingen op een duidelijke en eerlijke manier handelen. Daarom houdt de Autoriteit Financiële Markten (AFM) toezicht op de financiële markten.

Financiële partijen die een rol vervullen richting een niet-professionele investeerder moeten over een AFM-vergunning beschikken. Voor het verstrekken van de AFM-vergunning wordt getoetst of de betreffende partij beschikt over de juiste procedures en of de beleidsbepalers integer, geschikt en vakbekwaam zijn.

Trustakte

De overeenkomst tussen de uitgevende instelling en de Stichting Obligatiehouders AndersFinancieren. Hierin wordt onder andere vastgelegd welke zekerheden, betalingen en verplichtingen bij de uitgifte van de obligaties horen.

Stichting Obligatiehouders AndersFinancieren

Deze stichting houdt toezicht op de geldstromen tussen de betrokken partijen bij een obligatie-uitgifte en behartigt de belangen van de obligatiehouders tijdens de looptijd van de obligatielening. Mocht er onverhoopt een situatie ontstaan waarin een uitgevende instelling niet meer aan haar verplichtingen kan voldoen, zal het bestuur van de Stichting namens de obligatiehouders optreden en eventueel beschikbare zekerheden uitwinnen.

Source

Blockchain Information Event

| 17-01-2020 | by RBS |

Here is your reminder to join the free event: Blockchain, What is it and what does it do for your supply chain? The event will take place on January 27th, 2020 at the Rotterdam Business School, Kralingse Zoom 91.

Blockchain is a new disruptive technology that together with Artificial Intelligence (AI), Internet of Things (IoT) and Big Data promises to change the way we do business today. It seems to have a major potential to make supply chains more efficient and transparent by cutting out middlemen and creating possibilities to do trusted peer-to-peer transactions on a global scale. However:

  • What is Blockchain exactly and how does it work?
  • What can Blockchain be used for?
  • Are there proven user cases?
  • How can blockchain be used to create value?

These and other questions related to Blockchain will be answered at the event.

January 27, 2020

16:00 – 20:00 

REGISTER HERE

 

Programme:

15:45 – 16:00    Welcome with coffee

16:00 – 17:00    Blockchain in the supply chain: financial and sustainable solutions

Victor van der Hulst, Blockchain expert Windesheim University of applied sciences

17:00 – 17:10     The logistics applications of Blockchain

Ron van Duin, professor of applied sciences, Rotterdam University of applied sciences

17:10-17:30        Best blockchain thesis award

17:30-17:45        A proven blockchain user case: Dutch & Belgian government: Waste transportation

Martijn Broersma LTO Network

17:45 – 18:00     Coffee break

18:00 – 19:00     Break out sessions

      1. Blockchain and the food chain
        Chair: Josanne Heeroma ten Katen (RUAS)
      2. Blockchain and supply chain finance
        Chair: Luca Gelsomino (UASW)
      3. Blockchain and fashion
        Chair: Chris van Veldhuizen (TMO)
      4. Blockchain and the off-shore industry
        Chair: Arthur Fellinger (RUAS)
      5. Blockchain and paperless document flows
        Chair: Martijn Broersma (LTO Network)

19:00-19:30        Wrap up

19:30-20:00       Social drinks

 

The event is a cooperation between the Masters of International Business the SIA-RAAk project Blockchain for SME’s and the National Blockchain Thesis Table. It’s aim is to disseminate knowledge acquired by applied research and stimulate the cooperation within the triple helix: business, research and education. For questions contact: K.M.Paardenkooper@hr.nl

 

How to Get Started with International Money Transfer

| 16-1-2020 | treasuryXL | XE |

Do you ever get fed up with expensive service charges for the “privilege” of using your money? Do hidden international money transfer fees give you cold sweats when you log into your online banking account? Are the service charges imposed by providers like PayPal and Western Union making your heart beat faster?

You’ve worked hard all your life – to pay your bills, to provide for your family, and possibly to leave your home country to start a new life. Why should you pay exorbitant fees to move money in this digital age? There’s no need for armored trucks, planes, or boats to transport cash from you to the intended recipient of your money. Today, secure digital transactions are what gets money from one corner of the world to another.

Transferring money with a money services business (MSB) like XE eliminates the sorts of fees banks charge. You’re also assured a fair trade-able exchange rate on your money, based on the mid-market rate. (Meaning the mid-point between the buy-rate and sell-rate from international money markets.)

If you’ve heard this pitch from foreign currency transfer providers before, don’t worry, we’re just warming up here.

A Strategic Division of a Global Financial Powerhouse

XE, unlike many of the independent money services businesses in the marketplace, is a subsidiary of Euronet Worldwide, a leader in global electronic transactions and payments, and in facilitating payments between financial institutions, retailers, service providers and consumers.

We are entrusted by leading brands such as Google, Apple, Netflix and PayPal for their payments. Our sister companies facilitate payments for streaming media content, gaming, gift cards and pre-paid cellphones.

Our foreign currency market experts ensure our customers get the best value on money transfers to over 170 countries, in sixty currencies. Our consumer clients can transfer up to $500,000 (or your country’s equivalent denomination) from their accounts. There aren’t any monthly service charges or registration fees to erode your savings. Businesses can contract transfers of amounts exceeding $1 million.

The ABCs of International Money Transfer

If you’ve never contracted the services of a money services business before, here’s what you need to bring to the “table” before you even register for an account.

  • A bank account, and an original electronic copy of a bank statement
  • Government-issued identification such as a driver’s license, passport, or an age of majority card
  • An electronic copy of a utility bill, such as electricity bill or from a telecommunications company
  • An understanding of the approximate value of your foreign currency trading and transaction needs. These can help XE recommend services which maximize your return.

XE is mandated to collect these documents by the financial regulators around the world. They are used for the sole purpose of verifying your identity, and to defend the interests of XE and our clients against criminal activities like money laundering and to prevent the funding of terrorist activities.

There are further details about the terms of our service in the disclaimer below, and our Important information page.

It’s surprisingly easy to register for an account with XE, though if you need any assistance along the way, our knowledgeable customer success teams in our offices around the world are happy to assist you along the way.

Once you have registered for your account, and have transferred money to it from your bank, you can initiate a single transfer, series of transfers, or even mass payments to multiple suppliers or recipients. If you read on to the next section, you’ll learn about how you can take advantage of volatile market conditions to save money on overseas payments.

Services Which Distinguish XE from other MSBs

There are several overseas money transfer businesses in the market, and finding the ideal one for your personal or business needs can be challenging if you don’t know where to look. XE rises above the competition for many reasons in part because of our reputation for being easy to do business with. The proof is in our five-star rating on TrustPilot. Even our competitors regularly cite XE exchange rate data as the most accurate and reliable in the industry.

Some of the unique services which our customers rely on to mitigate costs include:

  • Forward contracts – which can lock in an exchange rate for up to twelve months, like recurring payments abroad for condominium fees.
  • Market orders – If you aren’t pressed for time on a specific payment, choose an exchange rate amount you are comfortable with, and we’ll initiate your payment for the moment the exchange rate meets that rate for your currency pair. These orders make the most of your money in turbulent times.
  • Spot orders for mass payments – Lock in on a rate for multiple payments at once for a batch of payments to multiple suppliers.
  • Risk management, cash solutions foreign exchange consulting and structured foreign exchange products for unique business requirements.

Time is of the essence in the currency market, much like in the stock market or in commodities trading. The services above provide some protections against unexpected peaks and valleys in the valuation of your local currency, though you should ensure you understand how upward or downward market movements can impact your scheduled payments.

Rate alerts via email are especially helpful to know when to trade when your base currency is at an optimal value relative to the currency you are exchanging for.

Money Transfer on the Go

There’s no denying that smartphones, tablets, and wearable devices are surpassing traditional computers for accessing digital content and getting things done online.

XE’s mobile apps for Android and iOS enable our customers stay up to date on exchange rates and make international payments without breaking stride.

XE is constantly developing innovative new channels and experiences for overseas money transfer. If you are evaluating XE relative to other money services businesses, don’t just take our word for it. Check out the review on money service provider review site Finder.com

Admittedly, XE is not:

  • The best choice for sending less than $1 (but who does that?)
  • Ideal for those individuals or companies not willing to provide identification before making a transfer. Yet, that’s contrary to international regulations in any case.
  • The money services business for those who want to pay on a cash or credit card basis.
  • The least expensive provider in the marketplace, nor are we the most expensive. You can’t beat us for value for your money though.

Whether you need to transfer rand to pay suppliers in South Africa, make a condo down payment in Dirhams to Dubai, or send krona to your sweetheart in Sweden, XE Money Transfer makes it easy and affordable.

 

Mark Burdon

Mark is a content writer, editor, and digital marketing specialist at XE, based in Newmarket, Ontario. Before joining XE, he worked with IBM, Open Text, TELUS and Canada Post.

 

 

 

 

Source

Get in touch with XE.com

About XE.com

XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.

Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.

Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.

Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.

 

 

Visit XE.com

Visit XE partner page

 

 

 

Fly around the world as a Treasury Innovation Consultant

15-01-2020 | Treasurer Search | treasuryXL

The treasury innovation consultant has close contact with the solution developers and builds bridges between bankers and corporate treasurers. He travels the world and takes care solutions are properly implemented and users will use the application successfully. Everything he learns he takes back home so the next generation solutions will be even better.

Ideal Treasury Innovation Consultant

This is not a job for the 9-5 type who is looking for predictability. The ideal candidate for this position has thorough understanding of the operational and strategic tasks of a corporate treasurer. Most likely he works or worked as a treasurer or treasury consultant. As a person he is a spirited treasury technology communicator with an entrepreneurial mindset. He likes regular (short) business trips and understands his current role might be different from the one he will have in one year.

Our Client

Our client will create a new market in the landscape of corporate treasury and banking technology. The successful start-up has very strong investors, the first very prominent & international clients are landed and they are about to make the next step in standing on their own feet. The start-up entrepreneurs are leading the company by example and have a strong record in relevant professional fields.

Remuneration and Process

This role is for one of the first employees to go out and meet clients and build the company. The base salary depends upon track record of the candidate, our client is open for a young, flexible potential and a medior with more experience. The Treasurer Test might be part of the recruitment process.

Contact person

 

T: (0850) 866 798
M: (06) 2467 9339

 

Back to the old days: Currency jargon in forex trading

14-01-2020 | Marco Lassche |

Nowadays the youth use apparently ‘stacks’ as a nickname for money. In forex we use already for a long time nicknames…

 

Recently I heard my son talking to one of his friends on the play station: “Hey bro, we need more stacks to go to the next level.”

When I asked him what is stacks: “Dad come on, you don’t know? Maybe you are getting too old for this (41?). Everybody knows that stacks is money.” Ouch…
My ‘old’ brain went back in time and this felt a bit like my first steps in the world of FOREX trading. At that time no electronic forex trading platforms were used. We traded still directly with banks / brokers by phone or Reuters messenger. Instead of Bro we used Mate. Instead of stacks we used the nicknames for the different currencies. For me the first days it felt like I was ended up in a scene of the Tower of Babel.

“Hey Mate, I need a Cable (GBP/USD) in two”. Later on I understood, this meant I want a price quote for a GBP/USD in 2 million GBP at which you can buy/sell GBP against the USD.

Now you know that stacks is money, and a cable is GBP/USD, it is time for some more nicknames in currency (pairs), and some background explanation:

Please feel free to contact me if you need any further information or assistance in setting up a more professional framework for controlling your financial risks and cash management in a more efficient way.

 

Marco Lassche 

Founder and Owner of at Bedrijfskostenexpert
Treasurer and Project Manager at Van Caem Klerks Group
treasuryXL Ambassador

Why corporate treasury is the recruitment niche for me

| 13-1-2019 | by Pieter de Kiewit |

My father was an engineer, he built roads and bridges around the world. One of his three kids following in his footsteps was a silent wish we knew about. Regretfully for him we all went in other directions, my sister and me at least landed engineering degrees. One of my first business management professors did teach me about building bridges but between functional areas. That is what I have been doing as a recruiter for the last 25 years and having a blast. 10 years ago I decided to only recruit in corporate treasury. Let me tell you why.

In a very simple way I always describe corporate treasury to laymen mentioning three tasks:

  1. Cash management and treasury operations: opening and closing bank accounts, payments, predict what payments will land and leave.
  2. FX and interest risk management: what will € and $ do? Zero % on our savings account, what shall we do?
  3. Financing: with what money will we fund our current and new activities?

With this description I do not have to be afraid for sudden new competition, do I? But do know that during the crisis treasurers found solutions for the survival of their employers. They found funding to pay salaries, helped sales with creative financing solutions, making complex transactions reality. They helped companies not going bankrupt due to currency exposures and forced banks to offer better solutions at an acceptable rate.

Treasurers manage large sums and report directly to the CFO. They are involved in mergers & acquisitions, reorganisations and international expansion. They act in small numbers but have a huge impact. Corporate treasury changes continuously and creates new treasury bridges to better connect with traditional job types like accounting, tax and sales. Corporate treasury is currently automated quicker than many similar functional areas. The academic world is showing increasing interest. In the Netherlands the post graduate education at the Vrije Universiteit is becoming more prominent in the treasury community. Corporate treasurer is an exciting position, the secret is out!

What I am passionate about is helping CFOs, HR, internal recruitment and group treasurers with their staffing questions. Treasury teams are almost always small, building treasury recruitment expertise is not worthwile for corporate managers. That is why my colleagues and I can add value. An HR manager knows about assessments, we know about treasurer assessments. A CFO knows about equity deals, we know about treasurers having funding expertise in his specific industry. A group treasurer knows about treasury tasks, we know how these tasks are executed in other companies so he can compare. That is why we can deliver and have impact. That makes me enjoy my job so much.

This is why recruitment in corporate treasury is my niche and there is still builder of bridges in the family.

Pieter de Kiewit
Owner Treasurer Search

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Information session Treasury Management & Corporate Finance on May 13, 2020

10-1-2020 | by Kendra Keydeniers | Vrije Universiteit

The VU Amsterdam would like to invite you to the information Session of the Executive Education programmes at the VU Amsterdam on May 13,  2020. This evening gives an insight into the content and organisation of the programmes

 

The Information session of the postgraduate programme Treasury Management & Corporate Finance is from 18.30 hr. to 19:15 hr.

Anyone interested in the programme is welcome. We are looking forward to seeing you at the VU Amsterdam!

Register here

 

Take a dive into RT career stories from graduates

The VU has been delivering RT graduates successfully for a few decades. That means that there are hundreds of graduates working, most of them in corporate treasury. How do their careers look like after they graduated? treasuryXL asked some of the RT graduates about their career development and their thoughts about the RT programme. Check it out: