Tag Archive for: corporate treasury

Looking for a Junior Treasury Systems Implementation Consultant at Fintech Start-Up

17-07-2020 | Treasurer Search | treasuryXL

Our Partner Treasurer Search is looking for a Junior Treasury Systems Implementation Consultant for a Fintech Start-Up (f/m). Together with one of the co-founders of the company you will be communicating with banking clients to help successfully implement the services and products of your company. You will gather the product requirements of clients and manage the implementation projects. You will be responsible for planning and budget. Also, you will be supporting the internal organisation, both in product development and improving processes & working instructions. As these are treasury processes your task to make sure compliance is reached, is a very important one.

Ideal Junior Treasury Systems Implementation Consultant

The ideal candidate holds a MSc degree and has 2-5 years experience with IT in corporate and/or banking treasury. She has proven project management experience. Knowledge and a strong curiosity in how treasury systems will evolve is essential. Software development experience is a big plus, not a must.

Our Client

Our client is creating a new market in the landscape of corporate treasury and banking technology. They have about 30 international employees. 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

The base salary is expected to be €50K. The Treasurer Test might be part of the recruitment process.

Contact person

Pieter de Kiewit
T: (0850) 866 798
M: (06) 1111 9783
E: [email protected]





Location

Midden Nederland


APPLY HERE

Meet our Experts – Interview Bertus van de Kamp

26-05-2020 | Bertus van de Kamp | treasuryXL |

In the upcoming weeks, you will meet some of the treasuryXL Experts more personally. We will publish interviews, in which we reflect upon their Treasury journey , their experiences and the challenges they faced.

This week, you meet Bertus van de Kamp, Senior Business Consultant and owner of Van de Kamp Consultancy. Bertus has more than 25 years of experience as Cash management Consultant with a leading bank in the Netherlands in the Mid- and Large Corporate segment. Since a couple of years he works as an independent consultant. He underwrites the importance of a well designed and managed cash-conversion-cycle, sees the interaction with his environment as one of his strengths and is very structured in his work. Next to this he is very interested in recent developments with regard to e.g. Blockchain, Open Banking and Instant Payments.

 

We asked him 9 questions, let’s go!

1. How did your treasury journey start?

In my over 30 year working with a Dutch bank I learned to know the Treasury business when I was active as Transaction Banker for the Corporate Market.

2. What do you like about working in Treasury?

I really enjoyed working as Transaction Banker for Corporate Clients and advising them to get better insights in their cash and currency positions and structuring their international Trade Business.

3. What is your expertise in the field of Treasury?

My experience with Treasury consists mainly of advising clients on how to hedge their currency and interest risks. Next to this I provided an RFP for a client for a Treasury Management System and guided the complete selection process.

4. Do you have examples of risk mitigation, creation of opportunities and/or cost savings?

I advised companies to set up international cash pools and get more insights in their cash flow via Electronic banking platforms, Payment Hubs or Treasury Management Systems (TMS)

5. What has been your best experience in your treasury career until today?

For a company I accompanied the selection of a TMS via a Request for Proposal

6. What has been your biggest challenge? Can you share your story

My biggest challenge has been to guide the complete RFP process for the Treasury Management System for the client mentioned before. Together with the client I composed the RFP and we selected five suppliers to fill in the RFP. After they completed the RFP we invited all five for a live demo. After judging the demos we made a selection of two of them. These two suppliers were invited to make a final offer and finally the best proposal has been chosen

7. What’s the most important lesson that you’ve learned in your career?

During my career I learned that honesty and real attention for your clients does pay off. By listening actively and attentively to the clients I learned to know what their questions and problems were and gave them a sincere answer, even if this did not answer their questions or solve their problems.
What I learned with respect to Treasury and Cash management in particular is that companies are not always aware of the importance of a good overview of the liquidity position of their business. In my opinion a company has to be able to get, with a ‘push on the button’, immediate insight in their cash position and even better their total cash conversion cycle

8. How have you seen the role of Corporate Treasury evolve over the years?

In my opinion it has become a more ‘technical’ role, where a Treasurer not only has to cope with cash-, currency-, interest- and/or loan positions within their company, but also with all kind of technical applications (bank, trade, treasury, ERP and so on) and their inter connectivity. Not to forget the recent developments with cloud services, API’s and blockchain.

9. The coronavirus is undoubtedly an unprecedented crisis. In general, can you elaborate on the impact this virus has on treasury from your perspective?

Corona leads to strong falls in turn-over and because of that to problems with the cashflow of companies. Every treasury department will have to focus on improving the cashflow and be aware of the risks of a negative cashflow

 



Senior Business Consultant

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

Kim Vercoulen

 

T: (0850) 866 798
M: (06) 2467 9339
E: [email protected]

 

 

 

Can you still see your banker as a trusted advisor?

22-08-2019 | by Pieter de Kiewit | treasuryXL |

Is your banker a trusted advisor or just another sales representative?

The times that you, entrepreneur or CFO, could just accept the advice of your banker is over. Understand that your banker expects you to have more knowledge than before. Do know there are alternatives. And do not forget that your banker has a target (hard or soft), just like others selling products or services.

When I accompanied my father to meet his doctor, it was clear we are of different generations. He listened and accepted, I was looking for dialogue and had questions. The attitude my father showed towards his doctor, I often see with CFOs and owners of smaller businesses. Is this a problem? Where does it stem from? Should relations change?

Your relationship with your banker has changed

Decades ago there was a knowledge gap between what bankers and entrepreneurs knew about financial markets and products. The number of local banks was limited as were funding sources. The interest was higher than it is nowadays (not too hard with current rates). All this led to a power imbalance between banks and their clients. You had to listen to your banker and accept. In those days bankers showed a different attitude than they did later. I often hear remarks about the former ABN boss Jan Kalff, he apparently was trusted like a medical doctor. I am afraid the bankers’ oath does not make current bankers a similar Jan Kalff.

Over time bankers and their clients have, together, changed their relationship. Starting with the one between banks and large corporates with treasury teams. These increasingly bigger teams gained knowledge and opened relations with alternative banking partners. On top of this, banks started rewarding their employees increasingly in an Anglo-Saxon way with an aggressive connection between performance and bonus. Treating your banker like a doctor was not appropriate anymore. Between large corporates and banks a new equilibrium was reached.

Between smaller organisations and banks a lot went well, regretfully not everything. One of many examples is that in The Netherlands sales of derivatives was done wrong in two obvious ways. First, clients bought products without understanding what they bought (and did all bankers really understand?). Second, bankers did not sell these products because their clients needed them to increase their bonus. A lot has been written about this.

Regretfully, a lot of entrepreneurs and also their auditors think they have full understanding of banking products and costs. I have seen too many treasury experts prove them very wrong. This new equilibrium has not yet been set.

An important extra development that has an impact on this topic is that banking services substitutes are being offered. Facebook can facilitate your payments, you can buy currencies cheap from Privalgo and there is a wide variety of extra funding sources coming up. All these solutions do not (yet) have an established market presence.

New banking relationship management

This is not a call for bank bashing. We do not bash the car sales guy for trying to sell a car. I do want to invite you to consider threating your banker as you would like any other supplier. Always remember he has a sales target. Understand that bankers have to balance their oath with this target. On top of this they see many of their colleagues being let go. For them these are no easy times.

Find out if you have the expertise to have a balanced meeting with your banker. Can you oversee your risks, do you understand the products and do you really know what you pay your bank? I have had more than one meeting with a banker in which I learned that banks themselves often do not know what they make on their clients. The amount mentioned on your bank statement about their costs does not cover everything your bank earns on you. Do you know the spread they take on your FX deals, the margin on insurance products? They and you often do not know the product alternatives and their rates. You can get low threshold expertise or send your employees to get relevant education or have them visit events. The expertise is available.

Times are changing

Changing relationships with your bank are only a problem if you ignore the change. The banks did not ignore and have changed. In my opinion these changes are good. Bear in mind that corporate treasury is not rocket science. Spend the time on this topic it deserves. Times are changing, so keep an eye on what is happening. It will save you cost, create opportunities and help you avoid risk. Good luck and drop me an email if you have questions.

 

 

Pieter de Kiewit
Owner Treasurer Search

 

How to explain what treasury is to family and friends?

| 09-08-2019 | by Pieter de Kiewit |

Your mortgage, credit card, holiday money and current account have business equivalents. They are managed by corporate treasurers. The title question, or variations, is one I have to answer quite often. Even more around the holidays, when I always meet my relatives. I am tweaking the answer constantly. Connecting private and business is my current strategy. Perhaps you (expert in the field or layman) can let me know if this explanation works for you.

You have a current, savings and perhaps other account. You pay the rent, groceries and a beer. You use a debit or credit card, cash, a cheque, paypal or other channel. You take care only you and the people you trust have access to your money. Corporate treasurers build and maintain a banking infrastructure that allows payments. They think about who is allowed to make payments (often they are), who can authorize (not a payment person), what bank to use and potential other payment channels.

You have a mortgage or personal loan so you could buy a house or pay for groceries when at the end of your paycheque the month did not come to an end yet. Corporate treasurers find funds necessary for their company and have a wider set of products available like bank credit facilities, bonds or new equity.

You feel fluctuations in interest and currencies when you cross the border to another currency country. Your mortgage, current account and credit card come with an interest. Both currencies and interest change over time: financial markets are not stable. Many of us just accept these changes. Corporate treasurers think and manage these risks: they think about the currencies in commercial contracts, about the length & price of various funding products and about mitigating the risks, for instance using derivatives.

Of course the above description is an oversimplification of the position. Treasurers have many other tasks and the complexity in a corporate environment is higher than a standard household situation. Furthermore I want to stress is that treasurers are not bookkeepers or controllers: they do not send or receive invoices and do not write the annual report. They manage actual money flows.

 

 

 

Pieter de Kiewit

Owner Treasurer Search

 

10 of the Best | The ACT Annual Conference 2019

| 24-05-2019 | treasuryXL |

What an incredible two days it has been, action-packed and full of celebrations. Very fitting for the special edition of the 40th anniversary ACT Annual Conference.

With over 1,100 people under one roof at Manchester Central, the ACT experienced so many positive moments. They would like to share the top 10 highlights so far…

1 | A ‘REMARKABLE’ OPENING

The conference opened with an impressive keynote address from leading broadcaster and journalist Jon Snow, during which he said if there were a collective noun for treasurers it would have to be ‘a remarkable’.

2 | LARGEST TREASURY EXHIBITION

This year’s conference boasted over 85 exhibition stands, making it the largest in the UK and one of the biggest in Europe. There were many banks, suppliers to treasury and service providers on tap for our delegates.

3 | BUSINESS OF TREASURY

ACT launched the annual Business of Treasury report at the conference. Based on a survey of senior treasurers around the world, the report paints a vivid picture of treasurers’ priorities, fears and the issues they’re about to face. Read more.

4 | 40TH GALA DINNER

This year’s conference marked the 40th year. They celebrated the ACT’s anniversary during a very special Gala Dinner, filled with entertainment, great food and company. They also took this chance to present to a select group of individuals who became either Fellows or Honorary Fellows this year. Read more.

5 | ACT GRAPHIC ILLUSTRATION

This year they were lucky to have the very talented Caroline Chapple illustrating live during a very busy and bustling two days of conferencing. Look out for the finished version – coming soon on the ACT website!

6 | TREASURY HUNT 2019

All attendees had a chance to win an Amazon Echo and Amazon vouchers while collecting points on the event app. Congratulations again to our Treasury Hunt prize winners: Dave Burnside, Fiona Rose and Shujat Mirza.

7 | SPEAKERS’ CHAIR BLOGS

The speakers’ chair, Peter Matza, led two days of insightful discussions on stage, so who better placed to round up the days events (in his own words). Read his blogs here.

Day one blog                Day two blog

8 | SUPERB SUPPORT

The ACT is thankful for their sponsors, exhibitors, delegates and speakers. Many great conversations were had and new connections forged over the two days.

9 | #ACTAC19 TRENDING IN MCR

#ACTAC19 generated lots of buzz on social media! According to Twitter, it was one of the top trending keywords in Manchester on day 1!

10 | THE BIG REVEAL

Last but not least, the ACT is really excited to be taking the ACT Annual Conference to the brand new ICC in Newport, Wales on 12-13 May 2020.

the ACT Annual Conference 2019 starts today

| 21-05-2019 | treasuryXL |

The largest treasury and finance conference and exhibition in the UK will start today in Manchester. Bringing together over 1,100 treasury peers, 100+ expert speakers and 80+ exhibitors.
New challenges need new solutions. That’s why this year the ACT will challenge the audience to think differently, take the leap and embrace disruption with an open mindset for innovation and change.

As the focal point of the corporate treasury calendar, the ACT Annual Conference brings together leaders in treasury and finance to provide you with the timely insights you need in today’s fast-moving market.

All under one roof, over just two days.

Watch the 2018 conference highlights video below for a good impression of the event…

Four education programs for ambitious treasurers

| 18-3-2019 | by  Pieter de Kiewit |

One of our regular meeting topics is how to improve the skills of the corporate treasury population. Research for the Treasurer Test (https://www.treasuryxl.com/news-articles/treasurer-test-report-is-ready/) shows that only 20% of all treasurers completed a dedicated treasury education. I am happy I was invited to join the “Curatorium” of the Register Treasurer program of the Vrije Universiteit so I can further contribute (https://www.linkedin.com/in/pieterdekiewit/). For all people screening the (international and Dutch) treasury education market, I would like to share my thoughts about what I think are the most relevant programs, in order of investment and value:

  1. Recently the Hogeschool Utrecht started with a post bachelor program treasury management. In my opinion, with this program, they target an audience that just started working in treasury as well as a group of financials that only occasionally deals with the profession like (group) controllers, entrepreneurs, CFOs, auditors and others. It’s a great introduction program, the investment in time and money is overseeable. What I like is the fact they teach class in groups, so you can also learn from your peers. Teachers combine academic and practical experience https://www.treasuryxl.com/news-articles/hogeschool-utrecht-start-post-hbo-cursus-treasury-management/
  2. The Certified Treasury Professional (CTP) program from the US is starting to get traction in Europe too. The reviews I get from treasurers who completed the program are a bit mixed, I believe  it offers good value for money and the title behind your name is appreciated by the labour market. I did not yet hear if the difference between corporate treasury in the US and Europe has an impact on the program. Studying and the final tests are done online so you do need discipline  to complete this program.
  3. The treasury training programs of the ACT are best known in (and outside) Europe and appreciated by hiring managers. There are various modules, all together the program is more comprehensive than the one of the CTP. You also have to study and do tests online and the titles behind your name are a plus.
  4. The most comprehensive and thorough program I know is the one taught at the Vrije Universiteit in Amsterdam: https://www.treasuryxl.com/community/companies/vrije-universiteit-amsterdam/. The post academic degree Treasury Management and Corporate Finance already exists over 20 years. In time and money, this program requires serious investment and brings the RT title behind your name. In my opinion there are two prominent differences, when compared to the previous programs. First, classes are taught at the university to stable groups. This creates a thorough exchange of thoughts and groups of alumni that know how to find each other for many years. Second, not only there is more knowledge transferred, also students are expected to digest and build upon this knowledge in an academic way.

I hope you can benefit from this overview and I do appreciate reactions. I want to wrap up with a consideration that perhaps deserves an extra blog. The above mentioned institutes have a variety of goals that partly overlap. I wonder if the profit and sales focus of some of them are in conflict with a focus on high quality education. What do you think?

Pieter de Kiewit

 

Pieter de Kiewit
Owner Treasurer Search

 

 

Wat is corporate treasury?

| 20-12-2018 | by  Pieter de Kiewit |

Uw hypotheek, creditcard, vakantiegeld en lopende rekening hebben equivalenten voor bedrijven, ze worden beheerd door corporate treasurers. De titelvraag, of variaties, is er een die ik nogal vaak moet beantwoorden, vaker nog rond de feestdagen wanneer ik mijn familie ontmoet. Er is nooit één pasklaar antwoord, in mijn huidige strategie verbind ik privé met een zakelijke view. Misschien kunt u (expert in het veld of de leek) me laten weten of deze verklaring voor u werkt.

U hebt op het moment een betaalrekening, spaarrekening en misschien nog een andere rekening. Je betaalt de huur, boodschappen en een biertje. U gebruikt een bankpas of creditcard, contant geld, een cheque, PayPal of betaalt misschien op een andere manier. U zorgt ervoor dat alleen u en de mensen die u vertrouwt toegang hebben tot uw geld.

Corporate treasurers bouwen en onderhouden een bankinfrastructuur die betalingen mogelijk maakt. Ze denken na over wie betalingen mag doen (vaak zijn zij dat), wie kan autoriseren (geen persoon die de betalingen uitvoert zijnde niet de cash manager), welke bank te gebruiken en potentiële andere betaalkanalen.

Je hebt een hypotheek of een persoonlijke lening zodat je een huis kunt kopen of kunt betalen voor boodschappen, terwijl aan het einde van je looncheque de maand nog niet ten einde is. Corporate treasurers vinden fundingsoplossingen/financieringsoplossingen voor hun bedrijf, zij hebben een breder pakket producten beschikbaar zoals kredietfaciliteiten, obligaties of nieuwe aandelen.

Je voelt fluctuaties in rente en valuta wanneer je de grens overgaat naar een ander valutaland, Uw hypotheek komt met rente, op uw betaalrekening en creditcard wordt met valuta marges gewerkt. Zowel valuta’s als rente zijn variabel, financiële markten zijn niet stabiel. Velen van ons accepteren deze veranderingen gewoon. Corporate treasurers denken na over deze risico’s en beheren ze: ze denken na over de valuta’s in commerciële contracten, over de duur en prijs van verschillende financieringsproducten en over het beheersen/beheren van de risico’s, bijvoorbeeld met behulp van derivaten.

Natuurlijk is de bovenstaande beschrijving een te eenvoudige beschrijving van de situatie. Treasurers hebben veel andere taken en de complexiteit is veel groter dan een standaard huishoudelijke situatie. Verder wil ik benadrukken dat treasurers geen boekhouders of controllers zijn: ze verzenden of ontvangen geen facturen en schrijven het jaarverslag niet. Ze beheren de feitelijke risico’s en geldstromen.

Ik hoop dat je dit jaar je familie beter kunt informeren over de baan. Geniet van de vakantie!

Pieter de Kiewit

 

 

Pieter de Kiewit

Owner of Treasurer Search

 

Make room for the treasury controller!

| 01-05-2018 | Pieter de Kiewit |

Cash PoolingLately we have received an increasing number of calls from companies asking about treasury controllers. For various reasons this is understandable, but they are not the easiest to find and there is appears to be quite a wide variety. Let’s elaborate.

Over the last few years, many corporates have been quite frugal in their investments, also in treasury. Times were hard. Now funds are getting available, there is willingness to hire, also treasury controllers. The rising investments in treasury IT, also related to aforementioned funds, often leads to less work for the back office and possibly also the front office. Platforms like 360T or FXAll are examples, but also algo trading. Choosing the system and taking care of what it should do and what it actually does, is often one of many tasks of the treasury controller.

The chaos in the financial markets made regulators increase the number of rules that banks and also corporates have to follow. Furthermore companies expanding globally, and funding their subsidiaries have to following strict internal and external  (fiscal and banking) rules. Implementing this framework and being compliant can also be an important task of a treasury controller.

F&A and corporate treasury have been quite well at co-existing in separate worlds and not bothering each other. F&A wants to be in control and appreciates predictability. Treasury is motivated by the dynamics of the markets and adrenaline. But companies integrate functionalities and the treasury controller will build the bridge.

Now why is the search quite hard? First of all because of the drivers mentioned in the last paragraph: the treasurer does not like too much predictability and the controller does not (want to) understand the financial markets. And having thorough knowledge of several functionalities: bookkeeping, IT, regulatory and risk management and make them work well together is not easy. Finally not many corporate treasuries are big enough for a qualified treasury controller. This leads to well paid Big4 auditors and bank controllers. And us having search assignments. Any thoughts and are you interested?

We would like to hear from you,

Pieter, Heleen and Kim

Pieter de Kiewit
[email protected] / +31 6 1111 9783

Pieter de Kiewit

 

 

Pieter de Kiewit
Owner Treasurer Search