13-10-2022 | treasuryXL | Refinitiv | LinkedIn |
How can data and analytics help banks meet the FRTB Standardised Approach deadline? This blog by Refinitiv helps you understand everything you need on the Standardisded Approach.
12-10-2022 treasuryXL | Pieter de Kiewit | Treasurer Search LinkedIn
Throughout covid times the organizers of Eurofinance remained active and were able to create interesting web-based events. Still, general opinion in last weeks’ event in Vienna was that there is nothing like the live thing. The programme was packed with interesting content, the event floor with interesting companies and visitors.
By Pieter de Kiewit
Communication leading up to the event and the venue, the Wien Messe, radiated experience in events of this size. The numbers of representatives and visitors were impressive. Luckily, the venue is big enough to not nerve the visitors who have to get used to large crowds again.
The programme was spread out over the very large room for plenary meetings, five large rooms for parallel session with presentations & panel discussions and “open rooms” on the trade floor. Key note speakers like Guy Verhofstadt and Goran Carstedt were able to enthuse with stories beyond the scope of treasury, others covered topics about treasury technology, both practical & visionary and treasury organization, for example about my personal favourite, the treasury labour market.
For many, the trade floor was easily as interesting as the content. Visitors gained market information, for example preparing for a TMS selection and implementation. Also reuniting with old treasury friends and getting to know new ones, was relatively easy during well catered breaks. Some of the visitors created new legends during the Thursday night afterparty that is not covered by this looking-back-blog.
As treasuryXL ambassador I visited the various partners of the platform present and received positive feedback on the event. So Cobase, Kyriba, TIS, CashForce, Nomentia, Refinitiv and CashAnalytics, we hope to see you again in Barcelona again and welcome a number of new ones.
Hasta luego,
Thanks for reading!
12-10-2022 | treasuryXL | GTreasury | LinkedIn |
Helen Kane, the Risk and Exposure Fellow at Hedge Trackers (a GTreasury company) recently sat down with The Global Treasurer to discuss how treasury teams can approach yet more global uncertainty.
Kane, along with the global head of corporate cash management at Deutsche Bank, lends expertise to the current state of deglobalization, the supply chain, and more—as they relate to treasury operations.
“Treasury strategies and skill sets that drove success in the 1990s were different from those in the 2020s. My advice for all treasurers is to be open to change, be open to learning, and be ready to flex, all while maintaining those historical controls and implementing new ones to safeguard your assets,” says Kane.
11-10-2022 | treasuryXL | LinkedIn |
Speaking about a rockstar within recruitment for treasury you think about Haia. She started working for Treasurer Search as a Recruitment Consultant at the beginning of this year and celebrated many successes with the team since then.
Haia is a down-to-earth, spontaneous and proactive human being with a hilarious sense of humor! You will be very lucky to work with her as someone who is searching for a next treasury adventure or if your company is in need of a treasurer.
We wanted to know Haia a bit more and we asked her the following questions. Happy reading!
I’m a recruitment consultant at Treasurer Search, so I’m mainly responsible for assignments from our clients to hire treasury professionals (from A to Z), and here we’re talking about Juniors up to executive level assignments. About my background, I have a Bachelor in Sociology and a high Technical Diploma in Management. I started in recruitment since 2016 doing some internships, and officially started as a recruitment assistant at a medical centre, then a company in Dubai where I made my way to the upper level and I left as a Recruitment manager. I moved to the NL and started at Treasurer Search in Feb, 2022.
Well-connected / Transparent / Professional
They will be working with Recruiters who are experienced in both recruitment and treasury, so we know who a good cash manager or group treasurer is. At the same time, Treasurer Search provides a transparent recruitment process, no surprises or hidden info, alongside the smoothness in communication.
In today’s world, everyone can learn whatever they want in no time, the resources available are at a wide range. For me it was mainly reading, attending online courses, and of course, learning from the experts in this field.
Attending as much helpful webinars as possible. Also following the stars in both industries is very helpful because you need to stay up-to-date, don’t you?
Being a treasury recruiter widen your aspects of how the financial management works. You forget about traditional roles in business finance and you learn treasury is way more than the basics that the public knows.
When I started at Treasurer Search I was new to the country, and the treasury. This is where my colleagues played the big part and helped a lot through time. Now I’ve integrated well in the society as well as learned a lot about treasury. Mainly, I’m proud of my colleagues who played an essential part in this big movement for me.
Thanks for reading!
Kendra Keydeniers
Director Community & Partners, treasuryXL
10-10-2022 | treasuryXL | ComplexCountries | LinkedIn |
Working capital is always a hot topic – but never more so than now. Depending on how you count, most businesses are facing double, triple or more whammies.
As always, we had a lively discussion – I encourage you to read the different stories our participants had to tell. They contain lessons for all of us. The main takeaways:
Managing and funding working capital is one of the biggest challenges we face. In an environment such as today’s, it is an area where treasurers can truly add value to the business.
06-10-2022 | IQPC Exchange | treasuryXL | LinkedIn |
At the 10th annual Group Treasurers’ Exchange, 60 Group Treasurers, Directors and Heads of Treasury will be coming to Berlin on November 15-16 to discuss how innovating the treasury function will mitigate risk and bolster profitability.
Designed for Group Treasurers, by Group Treasurers, the GT Exchange Europe 2022 offers a unique and exclusive format specifically tailored to unpack the issues that are most relevant. This invitation-only meeting is exclusively attended by a select group of pre-qualified senior treasurers responsible for creating an efficient and innovative treasury function. Attendees will benefit from an experience packed with networking with likeminded peers navigating the same industry challenges in a relaxed, consultative, and friendly environment.
The Exchange is attended by senior strategic leaders and decision-makers from major Treasury departments across Europe. Every attendee is personally invited and registered to ensure the right level of seniority and relevance to the event’s key themes.
Group Treasurers, Directors and Heads of Treasury can capitalise on a closed-door event with no press, full of one-to-one meetings, intimate breakout sessions, think tanks, roundtable discussions & more!
This innovative two-day event will cover key challenges facing an innovative treasury function, with expert speakers attending from a variety of top companies, including:
If you’re a qualifying attendee and want to attend the #GTEU Exchange, request an invitation here
05-10-2022 | BuyingTeams | treasuryXL | LinkedIn |
BuyingTeams – Improved Bank and Business Customer collaboration
BuyingTeams is founded by 3 former senior bankers, and on a mission to improve the collaboration between and banks and their corporate customers. The vision is to digitize the industry of corporate customer feedback and collaboration and provide value to both banks and corporates in their global organizations. The SaaS solution offered is built on the wishes and demands from both parties to ensure value for all.
Whether you sit in a corporate treasury front office role, or you are in a back-office role, without direct bank contact, you will benefit from the BuyingTeams bank collaboration solution.
All founders of BuyingTeams have experienced firsthand the lack of detailed and actionable customer data for banks, that they now have set out to provide.
They have also experienced how banks’ largest corporate customers, very understandably, become still less inclined to reply to customer surveys, as they have little or no value in doing so – other than pleasing the banks they work with. Feedback fatigue is clearly present.
Buying Teams turned the process upside down, and looked into customer feedback to banks from the bank customers’ – the companies’ – perspective:
How can we bring value to the companies while at the same time ensure timely and actionable customer data and insights for banks?
“We have actually solved this with the BuyingTeams Bank Feedback and Collaboration tool”.
They asked approximately 20 large and international companies from 4 different countries and across industries, which critical functions they currently would like to see in a bank collaboration tool. Based on these results Buying Teams started developing a solution that matches these interest points.
Examples are:
The solution is developed aiming at both large as well as medium sized companies, who wish to enhance their banking relationships. Companies having multiple banking partners as well as companies working only with one bank will benefit from the solution.
Companies can now work in one single digital tool and have all their feedback and other important data on the banks saved within their own solution. In just one overview companies can see all their banks in a real-time Dashboard and follow the development in banks’ capabilities and service levels over time.
All colleagues within the company can be included and provide input, indicating which banks are performing well and in which areas of their business relationship, and indeed also where there is room (and desire from corporate side) to improve the collaboration. Input can be related to different phases; sales/advisory, delivery/implementation or indeed the daily use of the bank and will give specific and valid data that were not previously available.
This is extremely valuable for the front-office people in the organization that have meetings and negotiations with banks (and for the banks as well). They can be much more prepared than before, and with a minimum of effort and time spent. It is our strong belief, that this brings immense value in the bank-dialogue.
Measuring banks’ performance, free for corporates
From our initial user dialogues, we have companies planning to invite +100 people in their global organization into BuyingTeams, and we also have companies with only one or very few users. BuyingTeams brings value to both cases.
The BuyingTeams solution also offers the corporates the option to benchmark their banking partners on different parameters relevant for each individual corporate.
“We wish to have as many companies as possible to experience the value that our solution brings, so we have made it free of charge for companies”.
BuyingTeams’ solution is available as SaaS, and companies can start using the platform within a few minutes.
For a long time, corporates have been servicing their banks with feedback, where the process have provided very little (if any) value for them, and a degree of “feedback-fatigue” has emerged over the past years.
With the right feedback and collaboration tool, corporates can now create valuable information and insights to the corporate itself, as well as to the relevant banking partners, who can use one and the same platform.
A platform creating value for both sides of the feedback process, in a real-time SaaS environment.
29-09-2022 treasuryXL | Treasurer Search | LinkedIn
Are you thinking about how you can shape your treasury career and in need for inspiration? There are plenty of education opportunities, but in what education will you invest?
You are invited to join our next Live Session. Registration is Now Open for:
𝐌𝐲 𝐭𝐫𝐞𝐚𝐬𝐮𝐫𝐲 𝐜𝐚𝐫𝐞𝐞𝐫 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 & 𝐇𝐨𝐰 𝐭𝐡𝐞 𝐑𝐞𝐠𝐢𝐬𝐭𝐞𝐫 𝐓𝐫𝐞𝐚𝐬𝐮𝐫𝐞𝐫 𝐄𝐝𝐮𝐜𝐚𝐭𝐢𝐨𝐧 𝐂𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐞𝐝
There is no standard career path for treasurers but one can learn from the choices and developments of the successful ones.
In this webinar two graduated Register Treasurers will share their stories:
They will tell you about how they moved between various stations and will pay special attention to the added value of their post academic degree: The Treasury Management and Corporate Finance programme (RT Programme) at the Vrije Universiteit Amsterdam (VU Amsterdam).
Everyone is welcome to this webinar. This webinar is extra relevant for those who consider joining the RT programme.
🌟Moderator: Pieter de Kiewit of Treasurer Search
🌟Duration: 45 minutes
We can’t wait to welcome you next week!
Best regards,
Kendra Keydeniers
Director, Community & Partners
19-09-2022 treasuryXL | Pieter de Kiewit | Treasurer Search LinkedIn
As treasury recruiters, we should know enough about corporate treasury to do intakes and screen candidates. Also, we should know the latest about what’s happening in the field of recruitment and so we read the publications of Geert-Jan Waasdorp of The Intelligence Group. I would like to share his latest, very interesting article and build the treasury connection.
By Pieter de Kiewit
I left a link if you want to read the full article but this is roughly what he says. There is a huge growth in people working since before covid. In parallel, there is a huge decline in active applicants. This pressure in the labour market is not evenly distributed among all employers. The ones that can find new employees can do so because of a strong employer brand and increased investments in own or external recruitment. Also, they are willing to decide quick and offer a better package.
So what does this mean if we project these findings on the corporate treasury labour market? My personal observation is that treasury staff is, on average, less driven by the company brand and more by the job content than candidates from other job types. We learned this working for clients like Tesla and Nike. Employer branding specifically towards treasurers would also be hard, I cannot envision a corporate recruiter promoting his manufacturing company at Eurofinance.
The obvious low-hanging fruit is that the hiring manager, already at the start of the process, has to organise and choose a mindset in the following: being able to decide quickly, from fewer candidates than before, and offering more than the old standard. Even highly skilled recruiters sometimes underestimate these aspects over time.
The judgement if the internal recruitment team is equipped to tackle the search or whether an external one should do the job – we, Treasurer Search – I will not elaborate on here. What I do want to mention is another obvious source that can be opened. For some of us that are considered a paradigm shift: bringing treasury talent in from abroad, from within the EU or even sponsoring a work permit. I am aware that some of us consider this topic highly political. What I can tell, both from our own organisation, as well as from successful placements with our clients, that this can be a very successful solution. In the Dutch labour market already the majority of candidates placed by us is non-Dutch. This is not a plea to open the borders and not be critical. Regretfully we have examples where this solution did not lead to success as coming to The Netherlands can be hard for the new employee. But also locally found candidates can fail in their new job.
My conclusion is that indeed, the world is different, as is the labour market. And given current demographic developments I do not expect a shift back. Luckily there are solutions but we will have to accept the consequences and cannot lean back. Those that do will shrink and go extinct.
Good luck in your search,
Pieter
Thanks for reading!
15-09-2022 | Cobase | treasuryXL | LinkedIn |
In the final blog in this series by Cobase, we look at how digital transformation impacts skills requirements, how APIs are enabling more accurate and timely decision-making, and key considerations around future bank connectivity.
Treasury teams have had to adjust rapidly to remote working conditions as a result of measures introduced to combat the spread of Covid. To facilitate these new working conditions, treasurers have accelerated their digital transformation efforts through the use of machine learning and artificial intelligence, APIs and cloud technology, and process automation.
Skills such as system integration, business development, data analytics and programming are increasingly valuable, while skills that can be automated are declining in importance.
Treasury teams may not require coding skills, but to maintain relevance they must become a centre of excellence, demonstrate expertise in how new systems work, and integrate with other systems and processes. Treasurers also need to be more proactive in terms of setting their organisation’s strategy and plans for digital transformation.
A simple implementation process that can be completed in days rather than months is seen as vital to the success of digitisation projects, alongside systems that can be implemented and then expand as the business grows.
If treasurers embrace change and build the skills needed to actively participate in digital transformation, they can make the treasury department indispensable and demonstrate why they deserve a seat at the table when digital and technology strategies are being decided.
In terms of specific technologies, the release of application protocol interfaces or APIs that enable connectivity between corporate accounting software, corporate middleware and bank portals has the potential to yield a variety of benefits for corporates, including the availability of balance and transaction information in (near) real-time to enable more accurate and timely decision making and further optimise cash and credit lines.
By allowing the transfer of information specific to the needs of the customer, APIs ensure that only the required data is transferred – meaning limited interface capacity is not wasted on the movement of irrelevant information. In addition, payments can be executed in real-time and connectivity to new banking partners can be achieved more quickly, especially for corporates who work via partners that maintain connections with a wide set of banks.
When it comes to this future connectivity, corporates also need to consider whether their provider will be able to move to the open banking APIs once the banks make them available and will be able to provide APIs to their ERP environment. Determining whether providers can facilitate such a move involves checking on their ability to handle external APIs (from banks, for instance) and whether they have the right licences and capabilities to connect via APIs to these banks’ and corporates’ systems once they are ready.
The potential of blockchain technology to enable banks to design new instruments and new ecosystems to support the great need of securing and financing trade operations – notably for SMEs – while reducing the constraints and costs of traditional instruments such as letters of credit is also intriguing.
The 7 habits of highly effective treasurers
Why are some treasury teams more adept at managing the financial challenges faced by their enterprises than others? We decided to identify some of the factors that contribute to intelligent treasury management and operational excellence and created an e-book which we would like to share with you. If you follow the habits outlined in this e-book, you will be well on the way to better cash flow and working capital management.
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