Tag Archive for: treasurer

Platform Interim Treasury Masterclass

| 06-09-2019 | by DACT |

Masterclass Succesvol Pitchen en Presenteren
Kunnen we nog afkicken van 8 jaar monetaire morfine van de ECB?
Trends in Export financiering

De DACT nodigt je uit voor de volgende PIT-bijeenkomst op dinsdag 10 september 2019 op een bijzondere locatie: De Beurs van Berlage (Beursplein 5) , waar de DACT gast is bij AFS Group. Je bent vanaf 17:30 uur welkom, de bijeenkomst start om 18:00 uur en zal rond 21:00 worden afgesloten. Broodjes en drankjes worden door AFS aangeboden op de beursvloer.

PIT is een DACT Netwerkgroep gericht op de Treasury professional die niet in vast dienstverband zijn beroep uitoefent, maar op basis van tijdelijke (arbeids)overeenkomsten. PIT wordt bestuurd door Ingmar Bergmann, Peter Heymans, Patrick Kunz, Dennis Schmidt en Bart Steens. Tijdens de periodieke PIT-bijeenkomsten wordt er niet alleen vakinhoudelijk met elkaar van gedachten gewisseld, maar ook worden er thema’s behandeld die specifiek zien op de rol als interim professional. Zoals altijd wordt een actieve participatie van alle deelnemers gevraagd. Met name de Masterclass Succesvol Pitchen en Presenteren kan niet zonder die actieve deelname!

Voor de bijeenkomst op 10 september a.s. hebben wij het onderstaande programma samengesteld.

  • Introductie AFS Blue – Bringing issuing and trading debt into a digitized world door Marcel Coppejans, Managing Director AFS Group. Presentatie van AFS’ internet based platform dat is ontwikkeld om de brokerage van schuldpapier in de primaire en secundaire markt transparanter en efficiënter te maken.
  • Masterclass Succesvol Pitchen en Presenteren door Patrick van Gils, pitchcoach en presentatietrainer. Oprichter van TOPpresentaties. Hoe kunnen we onszelf nog beter in de markt zetten? Hoe kunnen we kort, krachtig en overtuigend communiceren? Tijdens zijn interactieve presentatie ontdek je zijn beproefde 6 staps pitch-formule en komen zaken als woordkeus, powervragen, ‘pijn & fijn’ en overtuigingskracht aan de orde. De nadruk ligt op directe bruikbaarheid en praktische toepasbaarheid. Zijn doel is “om er zelf direct mee aan de slag gaan en de vruchten te plukken!”.
  • Kunnen we nog afkicken van 8 jaar monetaire financiering? door Arne Petimezas, Macro Analist AFS Group. Als specialist in de Europese en Amerikaanse geld- en kapitaalmarkten wordt hij vaak gevraagd zijn visie te delen met professionele partijen en de media, zoals het Financieel Dagblad en nieuwszenders op televisie. Ook met ons zal hij zijn visie delen over het monetaire beleid van de ECB.
  • Trends in Export Financiering door Stephen Maduro, AFS Corporate Finance. Is het huidige instrumentarium van Nederlandse exporteurs voldoende om de export te bevorderen? Past de rol van banken en Export Krediet Verzekeraars nog in de huidige markt? Hoe kunnen Nederlandse exporteurs het beste ondersteund worden?
    Hoe kan deze markt toegankelijker en transparanter gemaakt worden?
  • PIT-zaken

Alle geïnteresseerde DACT-leden zijn uitgenodigd voor deze nieuwe PIT-bijeenkomst, dus ook de niet interim Treasurers, zolang zij bereid zijn om actief en open deel te nemen aan de discussie; uiteraard is er alle respect voor de vertrouwelijkheid die een ieder op sommige terreinen moet betrachten.

Aanmelden doe je hier

Do you want to make better decisions through real-time reporting?

| 05-09-2019 | TIS |

BETTER DECISIONS THROUGH REAL-TIME REPORTING:
BUSINESS INTELLIGENCE ABOUT CASH FLOWS & CASH POSITIONS

How do strategic professionals decide on the best path to success for their company? The key is in transparency and real-time reporting across company-wide cashflow and liquidity levels, bank, customer and supplier relations and working capital. When cashflow visibility is the lifeblood of your company, you want full control and knowledge. Direct access to insights on profitability and potential business risks allow users to drive better decisions based on solid business intelligence, accessible anytime and anywhere.

SCENARIO
BETTER DECISIONS: Companies now have the power of the Business Discovery Manager – a business intelligence module within the TIS cloud platform. Supplier, salary and treasury payments can be easily analyzed along with cash flows, liquidity and working capital via easy-to-use dashboards and reports. The tool, enhanced through state-of-the-art BI technology, enables users to access all strategic insights in a single, flexible, web-based and multi-bank, multi-ERP capable platform available 24 hours a day from anywhere in the world.

 

DOWNLOAD THE COMPLETE FACTSHEET HERE

 

About TIS
TIS (Treasury Intelligence Solutions GmbH) is the leading cloud platform for managing corporate payments, liquidity and bank relationships worldwide. The company delivers SMART PAYMENTS to help customers make BETTER DECISIONS.

TIS enables companies to make more efficient, more secure and more cost-effective payment transactions. In addition, TIS enables customers to make better decisions when analysing financial and operational performance based on real-time payment flows. All mission-critical processes related to payment transactions are integrated into a multibank-capable, audit-proof cloud platform. This is a single point of contact for enterprise customers when managing and analysing their payment flows across the organisation. TIS take care of managing various payment formats, communication channels with banks, and ERP-agnostic integration. Offered as Software as a Service (SaaS), the ISO certified TIS solutions are quickly up and running without the complexity and cost of a long IT project.

 

 

Why Steven decided to explore the World of Treasury

| 02-09-2019 | by treasuryXL | Kendra Keydeniers

Steven de Klein decided to take a deeper dive into the world of treasury and started the RT program in 2014. He graduated as Register Treasurer (RT) in 2017. Before moving into treasury, he studied Business Economics in Nijmegen. His first experience in treasury was a good one, “The field of treasury is much greater than most people expect” said Steven.

Steven is Cash & Currency Manager at Royal Boskalis Westminster NV, a Dutch dredging and heavylift company. With its roots in the Netherlands, Boskalis has over 100 years’ experience in hydraulic engineering, coastal protection and land reclamation. The head office is located in Papendrecht and they have an extensive network of branches around the world. They operate in 90 countries and across six continents, with a versatile fleet of more than 900 vessels and floating equipment. Shares in the company have been listed on Euronext Amsterdam since 1971.

We asked Steven 4 questions about the RT program:

  1. What for you was the main reason to start a career in treasury?

    During my final year at the Radboud University in Nijmegen where I studied Business Economics, I started at a small advisory firm specialized in (corporate) financing. That was my first experience in treasury and it suited me well. Soon afterwards I joined a development & construction company that showed me that treasury was more than just financing and before you know it, you are a ‘treasurer’.

  2. Why did you start with the RT program?

    After working within the same company for a few years I noticed that my learning curve was leveling out. I started to investigate what treasury courses and programs where available and found that the RT program is without any doubt the best and most comprehensive treasury course available in The Netherlands.

  3. How did the education help you in your career?

    Not only did I gain a lot of new knowledge about treasury, but also about related topics such as macro-economics, fiscal law and (hedge) accounting. This helps to connect the dots a lot better when you’re back at your daily job. It also brought me a new network of people, good memories and I even think my current job at Royal Boskalis Westminster NV.

  4. Are you still in touch with your peers?

    Absolutely, during the 2-year program you built a strong relationship with your peers, since you do spend almost a full day per week with them. This is also one of the bigger benefits of the RT program in comparison to at-home studies.

We have more RT stories to share with you. Read the RT story of Bouke, Michel, Jarno, Mathieu and Richard and/or read more info about the RT program here.

The post-graduate Executive Treasury Management & Corporate Finance programme combines two finance disciplines: Treasury Management and Corporate Finance. These disciplines largely overlap and are inextricably connected.

After a successful completion of all required modules, the title of Registered Treasurer (RT) is conferred by the Registered Treasurer foundation.

As of last year the Register Treasurer (RT) program at the University of Amsterdam is taught in English. This is an important change as the program used to be in Dutch.

The course started on 1 September 2019. 

 

 

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

 

Embracing technology to deliver value from treasury

| 16-08-2019 | TIS |

Join Giancarlo Laudini, SVP Global Sales & Marketing Operations, TIS and Ernie Humphrey, CEO, 360 Thought Leadership Consulting to discover what fuels career success in treasury in today’s world. We will discuss the evolving role of technology in treasury success, how to leverage technology it your advantage, and how to embrace business partnering to impact decisions across the enterprise.

 

Register here!

Date: 11th September 2019

Timing: 5 PM CET

 

 

 

 

 

 

Why Bouke decided to explore the World of Treasury

| 15-08-2019 | by treasuryXL | Kendra Keydeniers

 

Bouke Weijmans graduated as Register Treasurer (RT) in 2014. Bouke has a strong interest in process optimization and building treasury departments from the start. He currently works at Aalberts Industries as a Cash and Treasury Manager.

Aalberts Industries is a Dutch manufacturer that engineers mission-critical technologies for ground-breaking industries and everyday life.

We asked him 7 questions about the RT program:

 

  1. What was your main reason to start a career in treasury?

    Actually I rolled into the field of treasury when working at Flow Traders. During my study business administration at the VU I always believed I would develop my self in the field of process optimization. About 6 months after I joined Flow Traders the person in charge of treasury left the company and I was asked to pick up the role.

  2. Why did you start with the RT program?

    Eager to learn more about my new role in treasury I started looking for opportunities to develop myself. As a former VU student I found following classes of the RT program was the best way for me to do this.

  3. What are key words that you would use to describe the program?

    The program is small scaled and interactive, which allows active discussion between teachers and students touching issues treasurers run in during their day to day work.

  4. Which topics covered were most interesting?

    I was still a little green in the world of treasury when I started. Therefore, the topics about treasury, cash management and corporate finance where really useful.

  5. What surprising elements did the program hold that you did not expect?

    I liked the fact you also get schooled in the field of fiscal law. It gave me a better understanding how transfer pricing works and what implications this can have for a company.

  6. Are you still in touch with your peers?

    I’m not in active WhatsApp groups, however the world of treasury is quite small and you run into each other from time to time. It’s always nice to catch up at such occasions.

  7. Did following the program influence your relation with your family, friends and/or colleagues?

    Following and preparing classes takes some time and planning which means sometimes you have to say no to social events. This can be difficult from time to time but no permanent harm has been done.

We have more RT stories to share with you. Read the RT story of Michel, Jarno, Mathieu and Richard and/or read more info about the RT program here.

The post-graduate Executive Treasury Management & Corporate Finance programme combines two finance disciplines: Treasury Management and Corporate Finance. These disciplines largely overlap and are inextricably connected.

After a successful completion of all required modules, the title of Registered Treasurer (RT) is conferred by the Registered Treasurer foundation.

As of last year the Register Treasurer (RT) program at the University of Amsterdam is taught in English. This is an important change as the program used to be in Dutch.

The course will start on 1 September 2019. Why wait? Apply today!

 

 

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

 

Give your career a boost and become a Register Treasurer

| 29-07-2019 | by Kendra Keydeniers |

Over the last weeks we shared blogs with profiles of Register Treasurer (RT) graduates with their motives, experiences and career paths. The blogs give you a better insight in the type of treasurers that are “RT material”.

You can read the following RT stories:

Jarno Timmerman | Treasury Director at Nike

Michel van Baardewijk | Treasurer at Vestia

Richard Blokland | Corporate Treasurer at NewCold

Mathieu Ummelen | Interim Treasury and Corporate Finance Professional

The RT program brought all the above graduates to a higher level in their career as Register Treasurer.

Executive Treasury Management & Corporate Finance programme

The post-graduate Executive Treasury Management & Corporate Finance programme combines two finance disciplines: Treasury Management and Corporate Finance. These disciplines largely overlap and are inextricably connected.

This post-graduate executive programme has now been running for more than 20 years at Vrije Universiteit Amsterdam. It is a unique programme both in the Netherlands and abroad.
The programme will be delivered entirely in English to appeal to the increasingly large community of non-Dutch-speaking finance professionals in the Netherlands.

Participants successfully completing this post-graduate executive programme will be awarded with the title of Registered Treasurer. This title is well-known and widely recognized within the treasury professionals’ community.

The curriculum consists of 6 modules, each of which covers a clear sub-discipline in Treasury Management and Corporate Finance. Each module comprises approx 8 lecture days on Thursdays (from 15:30 until 20:00). It is an intensive and efficient 18-month programme.

The post-graduate Executive Treasury Management & Corporate Finance programme is a strategic partner of the Dutch Association of Corporate Treasurers (DACT). Partners in the programme are KPMG, Orchard Finance, PwC, and Zanders Treasury & Finance Solutions. Senior affiliates are programme lecturers.

Exemptions apply to alumni of Dutch RC and RA programmes.

More info here

Corporate Treasury have a problem and this is why…

| 23-07-2019 | by Pieter de Kiewit |

Cost savings created by good treasurers easily exceed the sum of salaries of their team. They can help open doors that otherwise stay closed for their business colleagues and they can help avoid risks. Then why do they have this modest seat at the table of CFOs and are they often not considered for succession of her/him? Why are SMEs complaining about the lack of funding opportunities, when treasurers have them available? Why are Basel regulations made by bankers and politicians, where are the corporate treasurers? Why does treasury education not have a more prominent place in education? Why do bankers earn the bigger bucks? Corporate treasury has a PROBLEM!

The non-treasurers (CFOs and business owners) often do not know, so they do not consider this a problem. I think they should, given my introduction. The treasurers I meet often experience the problem: they want to be educated, make career progression, be involved in business and have better salaries. Why do controllers or non-financials not encounter this issue, or at least in a lesser degree?

Based upon my many interview notes and the first results of the dataset of the Treasurer Test I have a first hypothesis (there will be more): the personality of people working in treasury. A Big5 personality assessment has been done in a treasury population of 100. What I see is that treasurers, on average, are easily as driven as the general population. That should be a proper foundation. Where they score substantially different is in two aspects:

  1. They do not make contact quickly
  2. They are not focused on convincing other people.

The two obvious solutions are bringing people with a different personality into the treasury field and stimulating the current population to speak up. As recruiters we hope to contribute by bringing (for example) bankers into corporate treasury. Bankers often show a different personality profile. Furthermore I think we should not try to change the personality of the current population, but skills training will most definitely help.

Do you see the problem and want to step up? I hope so.

 

 

Pieter de Kiewit
Owner Treasurer Search

 

Why Michel decided to explore the World of Treasury

| 22-07-2019 | by treasuryXL | Kendra Keydeniers

 

 

Our next RT story is the one of Michel van Baardwijk. He graduated as a Register Treasurer (RT) in 2017. Michel is specialized in the Public Sector and faced many challenges working at Vestia as Treasurer.

Vestia, formally ‘Stichting Vestia’ is the largest public housing corporation in the Netherlands, which is headquartered in Rotterdam. The corporation owns (and rents out) about 78,000 houses and 8,000 other “rentable units”.

Vestia received media attention in 2011 and 2012 on the topic of interest derivatives. This attention continues until today. The follow up and the consequences of the transactions made in the past determine most of Michel’s treasury activities.

 

 

  1. What for you was the main reason to start a career in treasury?

    Actually my career in treasury was not premeditated. I liked the courses corporate finance during my studies business economics/econometrics in Tilburg, but my first jobs at Philips and the municipality of Rotterdam had nothing to do with treasury. Later when I worked as a financial manager or controller treasury was one of the many elements of the job, until the take-over by Vestia in 2011. In the re-organisation of 2013 I applied for Treasury and I got the job.

  2. Why did you start with the RT program?

    Because the portfolio of Vestia was more than 20 times the portfolio I managed before, refreshing my knowledge and skills was priority number 1. I got some training on the job by an experienced interim treasurer and I oriented on possible courses. The RT program at VU offered the best combination of theory and practice.

  3. What are key words that you would use to describe the program?

    The program is small scaled and interactive. You get to know all your fellow students very fast and there is enough time to exchange experiences.

  4. Which topics covered were most interesting?

    The most interesting courses for me were those courses I had little experience in: international finance and cash management. Piece of cake for seasoned treasurers, but new stuff for me. I also took courses in macro economics and behavioural finance.

  5. Can you describe what your research and thesis was about?

    My thesis researched the effects of new, tougher, legislation on the way treasury for housing associations is organised. I thought many had changed their processes, but most processes were already adequately organised and in control before 2012. With more emphasis on compliance after 2015.

  6. How did the education help you in your career?

    The RT program has helped me to become a professional in treasury in a short time.

  7. What surprising elements did the program hold that you did not expect?

    Behavioural finance was an eye opener for me. I took some psychology courses during university (marketing, organisation) but the impact of psychological elements on decision making was a positive surprise.

  8. Are you still in touch with your peers?

    Of course. I meet fellow students at DACT-events, we still have a Whatsapp-group and we are linked via LinkedIn.

  9. What other treasury education programs did you consider and why did you choose this one?

    I researched several other programs (NIVE QT, Improfin, modular courses), but VU offered a proven concept which was very practical for me (every week courses on Thursday afternoon and evening) and started very soon.

  10. Did following the program influence your relation with your family, friends and/or colleagues?

    Doing classes and assignments takes some planning. And sometimes you have to say No at home or at work, or skip class due to a priority job. Commuting by train gave me much time for reading and writing but not enough. Many weekends were spent writing my thesis, and also two holidays. Fortunately my wife took a course herself and my kids had their own exams.

  11. Can describe a treasury topic you learned about and you could directly apply in your job?

    In the first lecture I learned something about the consequences of a large divestment I had not thought about. Fortunately we could solve this directly. I also got more insight in the way banks were pricing loans, which resulted in better quotes.

More stories please! Read the RT story of Jarno, Mathieu and Richard and/or read more info about the RT program here.

The post-graduate Executive Treasury Management & Corporate Finance programme combines two finance disciplines: Treasury Management and Corporate Finance. These disciplines largely overlap and are inextricably connected.

After a successful completion of all required modules, the title of Registered Treasurer (RT) is conferred by the Registered Treasurer foundation.

As of last year the Register Treasurer (RT) program at the University of Amsterdam is taught in English. This is an important change as the program used to be in Dutch.

The course will start on 1 September 2019. Why wait? Apply today!