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7 New Register Treasurers
| 15-10-2019 | by treasuryXL | Kendra Keydeniers
Each year a new class starts with the two year RT program at the Vrije Universiteit (VU). That means that every year we can welcome new Register Treasurer (RT) graduates into the World of Treasury.
On October 3, 2019, the VU was proud to announce that they honored 7 new Register Treasurer graduates.
The post-graduate Executive Treasury Management & Corporate Finance programme at the VU has now been running for more than 20 years. The graduated RT’s of 2019 were part of the 21st class.
The RT programme and its benefits
The programme consists of 6 modules. Treasury (Financial) Risk Management and International Cash Management are traditional treasury disciplines. Corporate Finance is part of the Corporate Financial Management and Capital Markets and Funding module. The embedding of the treasury and corporate finance function in corporate organizations is discussed in the Treasury Organization module. An overview of relevant aspects in financial law and fiscal law is given in the Financial and Fiscal Law and Regulations module.
Each module is concluded with an exam. All modules are organized in such a way to allow for sufficient preparation time for assignments and exams.
5 key main benefits of the programme:
A career boost for the RT graduates
The main objective of the programme is to teach high-level courses that boost participants’ professional skills, knowledge and expertise in Treasury Management and Corporate Finance. Graduates of the RT programme recognize opportunities for exciting developments, are able to think out of the box and contribute to in-depth discussions with senior management and board members, which will lead to new career development opportunities and boosts job satisfaction.
Take a dive into RT career stories from graduates
The VU has been delivering RT graduates successfully for a few decades. That means that there are hundreds of graduates working, most of them in corporate treasury. How do their careers look like after they graduated? treasuryXL asked some of the RT graduates about their career development and their thoughts about the RT programme. Check it out:
Graduated as a RT and ready for a new treasury challenge?
Being a RT opens doors to new challenges more easily. Are you looking for an interim or a permanent position? Do you want to work in a small business or rather prefer a big corporation? If you want to make a switch in your career and you are open for a new adventure than I would highly recommend to contact our partner Treasurer Search. Treasurer Search is a successful treasury recruitment company, founded 10 years ago with consultants that have experience in treasury recruitment up to 20 years.
Do you have any questions about the RT programme? Are you a RT who want to share your career development via an interview? Or do you have any other related questions or remarks about the RT topic? You can contact me directly via:
Community & Partner Manager at treasuryXL
How to reduce your credit risk
14-10-2019 | Marco Lassche |
It is nice to sell your products at a good price. But what if you have delivered goods to your customer, and he is not able to pay? In this article we give you over 15 options, how to reduce your credit risk.
In this article we give you guidance, how to control and cover your credit risk. We focus on the sales perspective, however it is also applicable on the purchases side; a prepayment to a supplier causes also credit risk.
Ways to control your credit risk:
– Direct Collection
– Letter of Credit (LC)In a direct collection as well as in a LC you handover agreed documents to the bank. The biggest difference between direct collection and Letter of Credit: In a collection the bank pays you only, when the customer paid to the bank. In an LC the bank of the buyer pays you when the agreed documents are delivered by the seller. So for goods that are not easily sold to another counterparty, we would advise to go for a LC.Other options
The warehouse releases the goods to the buyer, when they received the payment, and forward the payment to the seller.
When your sold goods are transported by sea, you can give the release to the shipper to handover the Bill of Lading (property document) to the buyer. Normally this is done after payment of the buyer.
As said, running a business hardly goes without credit risk, but there are a lot of tools that can help you to limit it to an extent that is acceptable.
Please feel free to contact me if you need any further information or assistance in setting up a framework to control your credit risk.
Marco Lassche
Founder and Owner of at Bedrijfskostenexpert
Treasurer and Project Manager at Van Caem Klerks Group
treasuryXL Ambassador
What is Treasury? By Marco Lassche
10-10-2019 | Marco Lassche | Kendra Keydeniers
What is treasury?
Have you ever asked yourself the question, “what is Treasury?”. Many people will think about pirates and big see ships that sank deep into the bottom of the ocean including their ‘treasure’. A mystery treasure map will lead the finder to a treasure worth a lot of money. In some way Treasury and Treasure have definitely similarities, it is about money and other valuables.
Find out what Treasury is……
Treasury
Treasury or Treasury Management is the task to manage the firm’s liquidity and mitigate its financial and operational risk, with the goal to safeguard an organizations’ holdings. Let’s make this more specific. In each organization treasury tasks exist, regardless if the organization is big/small, profit/non-profit, nationally operating/ multinational. Although entrepreneurship is always bearing risk, this should be limited to a certain extent in order not to jeopardize the survival of the company. For each company this is different. For a company like Apple with a net profit margin > 20% losing 4% on its FX exposure has a much smaller impact on profitability, than for a WallMart with a net profit margin of 2-3%. In small organizations treasury is mostly done by the CFO or finance department. Bigger organizations have their own treasury departments, controlled by the CFO. In general, the bigger and more international the organization operates, the bigger and more complicated the tasks of treasury get.
3 main Treasury Categories of Tasks
Treasury management, can be divided in 3 main task categories.
a. This is mostly the day-to-day operations. Make sure that payments that are due are being paid in time to the correct account.
b. Manage your bank accounts in an effective and efficient way
Although the basic tasks for treasury remain the same over time, the content of the tasks evolves over time. Due to external factors like technology, regulations or new financial products, some tasks are less time consuming nowadays then they were in the past.
The future treasurer
A treasurer is someone who manages and oversees the treasury side of financial management of an organization. Tasks like bank selection, reconciling bank statements and managing cash flow are typical for a treasurer.
Payments these days can be automatized to a high extent, a TMS (treasury management system) can help the treasurer. However risks in cyber fraud are increasing. Also increased regulations by banks and/or government take more time of the treasurer. In the past a treasurer only went to his own bank for financing, these days there are many other options for financing or reducing financial risks. It is the task fort the treasurer to keep up-to-date with developments, and to be the consultant for the organization on treasury related subjects.
TreasuryXL.com will help you with this by following the latest trends on all aspects of treasury.
Marco Lassche
Founder and Owner of at Bedrijfskostenexpert
Treasurer and Project Manager at Van Caem Klerks Group
treasuryXL Ambassador