Tag Archive for: education

Brexit and the effects for treasurers

| 10-1-2017 | PowertoPay | sponsored content |

brexitBrexit is an ongoing issue in not just the financial world, but in the entire world. A topic which had lots of speculations, rumors and uncertainties. Although 2017 is going to bring us more clearness around Brexit, the exact date when Brexit is actually happening is still unknown. Theresa May, Prime Minister of the UK, said she will put Article 50 into motion by the end of March 2017. If she is able to put this article into motion, the actual process of withdrawal must be completed within two years. Anyhow, Brexit has its effects on the economy.

Netherlands and Belgium

Zooming in on the Netherlands and Belgium, Brexit will leave its marks as well. Because of extended research, Rob Rühl, director of Next Markets, is able to tell treasurers an update on what Brexit means for them. He is going to share his findings on a free Treasury Seminar, which is going to be held in the Netherlands and Belgium in the beginning of March. This seminar is hosted by payment specialized companies PowertoPay, TreasuryServices and the internationally known SWIFT. Since the results of article 50 going into motion or not are approaching, Rob Rühl will be able to update treasurers according to the latest developments. It’s important for treasurers to keep up with the latest developments to optimize their payment flows and thus to keep their businesses optimized. Or as Hans Leybaert, CEO of PowertoPay, looks at it; by focusing on smart Fintech solutions, platforms and ecosystems, you can create broad business opportunities that matter. Not just Brexit is interesting for treasures, but also think of topics as bank independency, cash management and Basel III which are important to learn about. More info and signing up for the seminar:  http://info.powertopay.com/sign-up-page-seminar

powertopay2PowerToPay

Claire van Ingen – Online Marketeer

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treasuryXL Resources (part II): education & training

| 5-1-2017 | Annette Gillhart |

workshop Financial SystemsIn december we called in your help to refer to our page ‘Resources‘ and complete our list of associations. We have received interesting suggestions which will be added to the list shortly. Today we would like to give you an overview of the treasury education and training organisations that we have listed on this same page under the tab ‘education and training‘. Of course you are again most welcome to send in suggestions, as we do not claim that this list is complete.

As our list is rather long we will start with 3 organisations:

1. Alex van Groningen

Since 1994 Alex van Groningen is one of the leading partners for finance professionals. They also built several major communities with their partners. Within those communities knowledge, network and career meet, support and enforce each other. More than 100.000 professionals meet online and in class rooms.

Training programs comprise amongst others Financial analysis, Strategic financial management, Controller in one week and Business valuation.

2. NCOI

Education and training for working people in The Netherlands.

NCOI stands for keeping skills on a high level or improving these skills and their target group is the working population. Every year they enlarge the knowledge, skills and competence of thousands of working people. Their approach is strongly related to the working practice and offers a high extend of flexiblity to combine job and study. They offer various starting dates, different study types, top lecturers, group lessons and a valuable diploma.

A short summary of the programs they have for treasurers and finance professionals (courses are in Dutch):

Masterclass Financing & Treasury, Module treasury management, Master Finance & Control

3. NIBE-SVV

NIBE-SVV offers education and training for bank, insurance and stock exchange professionals throughout The Netherlands. According to their information they are the leading institute for finance professionals. Courses and programs are matched with the existing knowledge and competences of participants.

Their approach is practical and they provide profession-oriented training on MBO (intermediate vocacional education) , HBO- (higher vocational education)  and Master level.

They offer the following programs for treasurers and finance professionals (in Dutch):
Introduction riskmanagement, Financial riskmanagement, Cashmanagement, Financial risk and regulation, Foundation of financial risk, Cashmanagment and Tradefinance

 

The complete list of education and training organisations on our website can be found under ‘education and training‘.

For more information about a particular organisation and the most recent programs please visit their websites.

Have you been following an interesting and valuable training lately that you want to tell us about? Please feel free to share it with us and the treasury community!

 

annette-gillhartAnnette Gillhart – Community Manager treasuryXL

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4 financiële problemen die bedrijven in gevaar kunnen brengen

| 19-12-2016 | Schenkels | Pavey |  FM.nl |

bankrupcyOp FM.nl (Financieel Management) kunt u een artikel vinden over de vier financiële problemen, die de continuïteit van een bedrijf in gevaar kunnen brengen. Dit onderwerp werd uitvoerig besproken tijdens een opleiding risicomanagement van Alex van Groningen.

Het artikel gaat uitgebreid in op de vier problemen. Hier volgt een korte samenvatting:


1. Acuut probleem (illiquiditeit)

Bedrijven gaan vaak failliet, omdat ze geen cash meer hebben. Het gaat mis als er onvoldoende cash is om aan kortlopende financiële verplichtingen te kunnen voldoen. Met het werkkapitaal kunnen zich verschillende problemen voordoen:
● De hoeveelheid vlottende activa als percentage van de balans loopt te hoog op.

● Het probleem van onbeheersbare groei: vanwege snelle groei loopt de debiteurenpost te snel op.

● Wanneer een economische crisis uitbreekt, zoals de kredietcrisis van 2008, wordt liquiditeit schaars.

● Het grootste probleem ontstaat wanneer de cashflow snel daalt bij een achterhaald businessmodel terwijl de kosten/verplichtingen grotendeels hetzelfde blijven.

Je kunt werkkapitaal beoordelen met verschillende kengetallen: current ratio, quick ratio en netto-werkkapitaal. Echter, deze getallen zijn beperkt betrouwbaar omdat het momentopnamen zijn.

2. Chronisch probleem (organisatie is onrendabel)

Een onderneming kan jarenlang verlies lijden, maar toch blijven voortbestaan zolang er maar geld is. Wanneer de geldkraan wordt dichtgedraaid door de kredietverstrekker kan een chronisch probleem ineens een acuut probleem worden. Dit geldt bijvoorbeeld voor veel retailketens op A-locaties, die vanwege de enorme impact van internetwinkelen onrendabel werden. Terwijl de omzet per winkel terugliep bleven de vaste lasten, zoals huur, salaris en afschrijvingen, gelijk.

3. Structureel probleem (insolvabiliteit)

Van insolvabiliteit spreek je wanneer er iets mis is met de vermogensstructuur van een onderneming. Hoe hoger de leverage – het vreemd vermogen – hoe lager de solvabiliteit. Het aantrekken van meer vreemd vermogen is niet per definitie verkeerd. Het kan ondernemingen in staat stellen te investeren en te groeien. Maar omdat het geld kost aan rente en risico’s met zich meebrengt moet er wel meer rendement tegenover staan.

4. Strategisch probleem (toekomstplannen)

Een onderneming heeft een strategisch probleem wanneer het management niet goed in zicht heeft hoe de markt veranderd en hoe de onderneming haar toekomstplannen daarop moet aanpassen. Dit probleem kun je niet uit de boekhouding halen. Volgens docent Jan Vis, een autoriteit op het gebied van waarderingsvraagstukken, is het van het allergrootste belang dat het management zich focust op het vergroten van de toekomstige geldstromen, want waarde ligt altijd in de toekomst en in het genereren van cash (geen winst).

Wij hebben twee van onze experts gevraagd om hierop commentaar te geven:

Boudewijn Schenkels:
De meeste bedrijven in problemen zijn inderdaad afhankelijk van overnames of te afhankelijk geworden van de standaard financieringsproducten van banken. Hoe langer hun financiële crisis voortduurt hoe eerder de bodem van de kas in zicht komt. Er wordt (nog) niet of te weinig gedacht aan de alternatieve onorthodoxe vormen zoals bijvoorbeeld crowd-funding. Banken worden hier steeds creatiever in en er ontstaan steeds meer netwerken. Out-of-the-box vormen die alle 4 de probleemgebieden kunnen tackelen of beheersen. Ook kom ik ook nog steeds bedrijven tegen waar vastgehouden wordt aan oude structuren in het kader van cash management. In het post-SEPA tijdperk zijn lijnen korter en is betalingsverkeer meer transparant en ontstaan er nieuwe producten. Om te komen tot deze nieuwe vormen is een afwijkende strategische visie nodig vanuit management. Streef er constant naar onderscheidend en denk na over hetgeen er verder in de wereld aan de hand is dat er onverwachte wendingen ontstaan. Kijk naar de politiek.

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Boudewijn Schenkels 

Senior Consultant Payments  bij Payments Advisory Group

 



Lionel Pavey:
Hij reageert op het probleem illiquiditeit: Er zijn 2 stromen waar geld vaak vast zit – voorraden en debiteuren.

Voorraden
1)     Plan de hele cyclus van levering tot verkoop

2)     Hoe lang is de levertijd

3)     Hoeveel ruimte nemen de goederen in beslag en heb ik genoeg ruimte

4)     Zijn de voorraden snel bederfelijk

5)     Hoeveel leveranciers zijn er

6)     Zijn de goederen seizoensgebonden

7)     Implementeren van “just-in-time” methodiek

Debiteuren
1)     Facturen tijdig en correct versturen

2)     Controleren en vermelding van juiste voorwaarden

3)     1 week na verzending controleren dat facturen zijn ontvangen bij debiteur

4)     Bevestig met debiteur dat alle gegevens correct zijn

5)     Bevestig met debiteur dat betaling vindt plaats op afgesproken datum

6)     Alle contact met debiteur ten eerste via telefoon, daarna via email

7)     Implementeren van een solide debiteurenbeheer

8)     Altijd proactief actie ondernemen – niet wachten op debiteur

9)     Laat verkoop afdeling weten de stand van zaken, maar laat verkopers nooit direct met klanten praten/onderhandelen over openstaande posten

10)  Zorg voor alle nodige vaste gegevens van een debiteur – contact persoon, hoofd crediteuradministratie enz.

11)  Uw klant is ook een mens – als een klant wordt op de hoogte gesteld van openstaande posten, dan realiseren zij dat U een goede beheersing hebben van alle organisatorische  aspecten

Lionel Pavey

 

Lionel Pavey

Cash Management and Treasury Specialist – Flex Treasurer

 

 

 

 

 

Online Treasury training programs: a new trend and options increase

| 21-11-2016 | Annette Gillhart |

online-trainingIf you are working as a treasurer and think about following a training you might as well look on the internet: an increasing number of programs are given online. We thought that it might be useful to check what’s on there and present a few.

A small selection of what we found

 

  • Hecht Consult Bank Training and Treasury Consultancy
    Michiel van den Broek is a financial expert and has hands on experience managing foreign exchange and interest risk. The last 10 years, Michiel has focused on training and has set up the Financial Training Hub. He has created custom programs and delivered training to hundreds of participants working for banks, financial supervisors and other financial institutions on subjects such as financial markets, asset & liability management and risk management. Michiel has published an e-book ‘Understand Banks & Financial Markets’ to introduce training participants in the world of finance. He offers training programs such as Financial Markets (Advanced), Banking Basics, Risk Management Basics, Compliance and Financial Markets, Introduction Asset & Liability Management, Bank Management and more. Read more
  • Coursera
    Free training programs! Coursera is an education platform that partners with top universities and organizations worldwide, to offer courses online for anyone to take. Their mission is to provide universal access to the world’s best education. Statement from their website: ‘Online learning plays a significant role in a lifelong education. In fact, a recent report by the U.S. Department of Education found that “classes with online learning (whether taught completely online or blended) on average produce stronger student learning outcomes than do classes with solely face-to-face instruction.’ Go and check the search term  ‘Treasury’. At the moment they offer two trainings: ‘Global Financial Markets and Instruments’ and ‘The Global Financial Crisis’. Read more
  • Treasury Services
    Next to other services they offer Treasury training and education in their Treasury Acadamy. The e-learning Treasury Academy enables participants of programs to decide when, where and how they want to follow training courses. Training courses are instantly available through their secured platform. They offer training programs on Foreign Exchange Risk Management, Foreign Exchange Options, Interest Rates and Interest Rates Risk, Modern Bootstrapping, Cash Management and more. Read more

Many more options

It is obvious that this is just a small selection of what can be found. There is more and options increase. If you do not want to follow courses alone you can consider peer assesments or blended learning, too.

Have you followed an online training program lately?  Please feel free to share your experience!

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annette-gillhartAnnette Gillhart – Community Manager  of treasuryXL

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Consider a treasury intern!

| 31-10-2016 | Pieter de Kiewit |

As you might know, I play an active role in the development of the Minor Treasury Management at the Hogeschool Utrecht. This is the second year this program is organized for Bachelor students, not only from Utrecht but also schools from other parts of The Netherlands.

I contribute in three aspects: informing students about why they should choose this minor, describe the relevant labour market to the students who chose the program and connect them with the market. Both guest lecturers as well as internship counselors found their way into the program through my mediation.

As far as I can oversee the Hogeschool Utrecht is currently the only higher education institute in The Netherlands with a structural focus on treasury. All other active in this field offer post graduate / evening study programs. In our recruitment we hardly see young graduates with thorough knowledge of corporate treasury.

In this blog I want to invite you to hire an intern. Perhaps they can offer the solution for the project where you do not know if you want to hire a consultant, ask a colleague or do it yourself. Interns ask surprising questions and present solutions you did not think about. Their recent classes taught them about theories you never heard of before. They can help you tackle projects and you can help them prepare for the treasury labour market. Win-win.

Did you ever hire a treasury intern? Tell us about your experiences in the comments below!

Editorial note

  • The internship for students of the Minor Treasury Management at the Hogeschool Utrecht will start February 2017 and will last for 20 weeks;
  • It is a full-time internship: the students will work for 4 days at your office and can work one day a week on their thesis, other structures can be discussed;
  • They prefer that students take the internship on their own, but in pairs may be negotiable.

 

Pieter de Kiewit

 

 

Pieter de Kiewit
Owner Treasurer Search

 

 

 

treasuryXL education & events

| 21-10-2016 | treasuryXL |

educationeventstreasuryxlAutumn has come and it’s time to visit events, expand your network and try to learn some new things to start the working season right. We have selected some events and education programmes of which we think you would appreciate them. Enjoy and don’t forget to let us know which events you have been visiting or education programmes you have been following. We are curious to hear your opinion on them!

2 -11 | Best Practice Evening, Zurich @ TIS

Trade ideas and network with other treasury, shared services and IT peers from all industries during their networking sessions. Learn about the New Payment System Switzerland and listen to the TIS Story – Managing Corporate Payments, Liquidity and Bank Relationships in the Cloud. Read more.

07-11 | Masterclass Treasury Accounting @ Improfin groep

Deze praktische masterclass beoogt deelnemers een gedegen verdieping te bieden in de verslaggeving rond financiële instrumenten. Op basis van deze verdieping zijn zij niet alleen in staat om de treasury administratie optimaal in te richten maar ook om een kritische dialoog met onder meer intern- en extern accountants te voeren. Lees verder.

10&11-11 | Treasury beurs 2016 @ DACT

Op de Beurs verstrekken de belangrijkste aanbieders op treasurygebied informatie over diensten, technieken, informatiesystemen, financiële producten en carrièreplanning. Een bezoek aan de verschillende stands geeft u een goed beeld van wat er in de markt speelt en biedt u tevens de mogelijkheid de leveranciers met elkaar te vergelijken. Ook dit jaar hebben de standhouders weer verrassende activiteiten en gadgets te bieden. Lees verder.

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treasuryXL : Education & Training

| 18-07-2016 | treasuryXL |

holidayThe holiday season is finally here! While relaxing on the beach in Ibiza or making new memories in Bali, take some time to think about your career. Wait, what? Yes, do some thinking about your career between cocktails and sunbathing. Maybe it’s time to take your career to the next level by freshen up your knowledge or learning something new. treasuryXL has collected some of the education programs that take place in September.

1 September 2016 : Opleiding Treasury Management @ Nive Opleidingen

Praktijkgerichte beroepsopleiding tot Qualified Treasurer (QT)

Date: 1 september 2016
Costs: € 7.650; ex BTW
Location: Buitenplaats De Heiligenberg, Leusden

Read more

14 September 2016 : Introduction Hedge Accounting @ Wieltec Treasury Services

Training: Introduction Hedge Accounting – 14 september 2016.

Date: 14 September 2016, From 13:00-17:00
Costs: EUR 399,- (excl. VAT) per participant
Location: Van der Valk Hotel, Haagse Schouw 141, Leiden

Read more

15 September 2016 : Cash forecasting fundamentals @ ACT

Is it for you? Yes, if you’re:

  • New to treasury or financial planning
  • Experienced in treasury or financial planning, but want to review and update your forecasting skills and knowledge
  • A member of treasury or financial planning tasked with reviewing or redesigning your cash forecast framework and processes

Date: 15 September 2016
Costs: ACT members, students and CPD accredited employers £750 + VAT, Other treasury/accountancy body members £800 + VAT, Non members £850 + VAT
Location: London

Read more

22-23 September 2016 : Treasury Accounting, Performance and Control @ Zanders

This course focuses on creating a secure and effective treasury controlling framework. It addresses the elements of a sound treasury governance structure, including the significance of an effective treasury strategy and policy, and the role of the treasury controller. We use the controlling framework to show how to measure the performance and effectiveness of the treasury function.

Date: 22-23 September 2016
Costs: € 1.500,00 ex VAT
Location: Amsterdam, the Netherlands

Read more

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See our event calendar for more education and treasury related events. Would you like to bring your event / course under the attention of our treasury community? Please contact our community manager Stephanie to discuss the possibilities.

treasuryXL wishes you a great summer!

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Stephanie DerkseStephanie Derkse – Community Manager treasuryXL
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Treasury Education: great but do not expect career miracles. Do make a strategy.

| 25-05-2016 | Pieter de Kiewit |

studyLast week I visited an information session about financial postgraduate education. It was organized by the VU (Vrije Universiteit, Amsterdam). I noticed an increased interest in comparison to last years session, which is great. Information was provided about courses I see back in the CV’s of treasurers: CFA, RBA (Register Belegging Analyst) and of course RT (Register Treasurer) that has an overlap with the ACT courses. Education, specifically postgraduate, is a topic that returns in many of my meetings. This is what I notice on the topic:

Investing in education is like investing in your network: if you start thinking about it when the need is urgent, you are too late and you will have to work harder. Education as a topic comes up, most of the time, when somebody is planning his career strategy, being in a position or when somebody is between jobs. In the first situation I often notice an intrinsic motivation, eagerness for knowledge and curiosity about other people’s experience. Elements for a solid basis to complete the education.

Candidates that lack these elements often have a harder time to complete their education. Even when they are willing to invest their own money. Furthermore, candidates that are between jobs are open for a broader range of positions than those who search from being employed. This makes it harder for the unemployed to choose which education to pursue. To complete this negative list, regretfully employers often do not have a good understanding of the value of specific treasury courses. In our assignments postgraduate treasury education is hardly ever a dealmaker or a deal breaker.

This is not a plea to stop learning! Treasury education is always great. Sometimes timing can be improved. This is a plea to plan ahead, about your career and education.

If you want to brainstorm, contact me. And let me know what your thoughts are.

Pieter de Kiewit

 

 

 

Pieter de Kiewit
Owner Treasurer Search