Looking to level up from a finance professional to a Treasury Manager? We lay out the key tasks of a Treasury Manager, from cash management and forecasting to compliance, and explore the impact of banking relationships on business operations. Tune in as we dissect the importance of cash position and the growth opportunities within this role.
Episode outline:
- Key responsibilities and tasks of the Treasury function,
- What this role means for the organization, and
- How this role can be an opportunity for you.
Certifications:
- Certified Treasury Professional (CTP) from the Association of Financial Professionals
- Association of Corporate Treasurers
Please connect with me on:
1. Instagram: stephen.mclain
2. Twitter: smclainiii
3. Facebook: stephenmclainconsultant
4. LinkedIn: stephenjmclainiii
For more resources, please visit Finance Leader Academy: financeleaderacademy.com.
- On the website, you can download the Become a Finance Leader Guide. You can use this guide to build your Finance Leadership skills so you can help senior leaders develop and execute the strategy.
- I also offer a course, Advance Your Finance and Accounting Career: Developing a Promotion Strategy that Sets You Apart.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Stephen McLain (00:05):
This week, I want to discuss the Treasury
Manager role and how this rolemakes a positive impact within
the organization.
Also, how it can provide anincredible opportunity for you
to grow your leadership andinfluence.
The Treasury Manager works onkey tasks and responsibilities
(00:25):
for the business, from cash flowand liquidity to banking
relationships and many more.
Understanding liquidity andfinancing options provides
choices for senior leaders.
The Treasury Manager is oftenthe key advisor and leader for
the CFO and CEO to rely on whenit comes to cash, credit and
liquidity options.
(00:46):
Don't overlook this opportunityas a way to grow your skills
and your experience.
Please enjoy the episode.
Welcome to the Finance LeaderPodcast, where leadership is
bigger than the numbers.
I am your host, Stephen McLain.
This is the podcast fordeveloping leaders in finance
and accounting.
Please consider following me onTwitter, facebook, instagram
(01:10):
and LinkedIn.
My user names and the links arein this episode's show notes.
This is episode number 109 andI'll be talking about the
Treasury Management role, and Iwill highlight the following
topics Number one keyresponsibilities and tasks of
the Treasury function.
Number two what this role meansfor the organization.
(01:31):
And three, how this role can bean opportunity for you.
I really like this quote fromhockey coach Herb Brooks risk
something or forever.
Sit with your dreams.
Now welcome back to anotherseason of the Finance Leader
Podcast.
I want to welcome the newlisteners to the podcast.
The goal for this podcast is tohelp finance and accounting
(01:53):
professionals to develop theirleadership skills, instead of
only our technical skills andour knowledge.
I believe that we all need tolearn to develop our leadership
to have a more positive impacton the organization, and it will
be through our leadership thatwe will set ourselves apart from
our competition so we get moreadvanced and senior role
(02:14):
opportunities.
I believe that anyone can learnand apply leadership.
It does not matter what yourrole is or what your background
is.
You can make a differencethrough your influence and
ability to lead from one set ofcircumstances to a better one.
We can lead with the analysisand the numbers that we have.
We lead when we sit with asenior leader and we show how
(02:37):
their metrics are performing andhow they can improve the
performance of their team,showing the numbers in a way
that makes more sense to them.
That is leadership and that ispositive influence.
I am going to continuallyemphasize and show how you can
become a better leader in therole you are working in, no
matter what it is, and you don'tneed to have manager or
(02:59):
director in your title to make adifference.
We are in the second half ofthe year.
How are you doing on your goalaccomplishment for 2023 and how
are you completing your requiredCPEs for this year?
I always say don't wait untilDecember to work on your CPEs.
Work on them now.
There are many training anddevelopment courses available to
(03:20):
help accomplish and completethose CPEs Now.
I covered a few interestingtopics in the bonus episodes
over this summer, which I wantto expand in future episodes, so
I will be working on that so wecan all further learn and apply
to our career.
This week, it's all about theTreasury function.
I believe we don't talk aboutthis role enough that our
(03:41):
finance and accountingprofessionals sometimes don't
realize this role is availableand what this role can do for
them.
You must have the mindset to dosomething different, to
challenge yourself, to bedifferent.
The Treasury Management role isabout cash flow, liquidity and
finance options to accomplishthe organization's strategic
objectives.
Cash flow represents what canhappen in the business.
(04:05):
Strategy is always aboutchoices making the right choice
with the resources you have.
Committing resources to supportthe right strategy is what CEOs
get paid to do.
This is senior leadership, andthis is why CEOs need the right
team around them, so they getthe correct advice to move
forward with strategic decisionmaking.
(04:26):
The Treasury Manager is a keyadvisor on cash flow, credit
arrangements, bankingrelationships, so the
organization knows best whatfinancial resources are
available to make the rightinvestment commitments and to
finance current operationsappropriately.
If you are a CFO or CEO, thisis how you can maximize this
role.
You want to have options and toknow what is possible with the
(04:49):
resources you have.
Ask questions on what ispossible, know your cash burn
rate, know what credit rates areavailable and know what
investment opportunities arealso available.
Is your company liquid?
Can you survive an economicdownside and can your company
take on a smart investment ifone pops up suddenly?
And to better know the riskssurrounding your cash position
(05:13):
and investments, your Treasuryteam can help you understand the
risk when weighing strategydecisions.
Overall, I want you to be amore well-rounded finance leader
.
I want you to make the TreasuryManager role yours.
You can do this by learning allabout banking and banking
relationships, credit management, cash flow and cash management.
(05:33):
Grow your network, grow yourknowledge and expand your skills
.
It will help you get furtheralong in your career.
Let's also talk aboutcertifications.
I love it when finance andaccounting professionals earn a
certification.
It's a sign and commitment ofprofessionalism and excellence.
I want to highlight a fewTreasury certifications you can
(05:55):
earn and a few resources.
I will put the links in theshow notes.
The first one is the CertifiedTreasury Professional, the CTP,
from the Association ofFinancial Professionals.
Also, there are a few Treasurycertificates from the
Association of CorporateTreasurers that would be very
beneficial to your professionalcredentials.
So check those out.
(06:16):
I'm going to put the links inthe show notes.
Always try to be expanding yourprofessional credentials by
earning a professionalcertification.
To help you in your financeleadership development journey,
I have a written guide for youcalled Become a Finance Leader.
You can download it for free atthe link in the show notes or
go to financeleaderacademycomand download it there.
(06:37):
This guide will help you withyour mindset and your finance
leadership related topics, soyou can help leaders throughout
the organization.
I often talk about theorganizational tools we have
available to make our days moreproductive.
I love lists and calendars andestablishing priorities.
I am leaning more and more intoscheduling the tasks on my
(06:59):
to-do list.
Many people are already doingthis.
My daily routine was always toupdate my to-do list, prioritize
that list and then go to workgetting that list done.
But we all know that our dayoften does not go as planned and
things and issues emerge.
This is why scheduling tasks onyour calendar are more
important than just having ato-do list.
(07:20):
This is about guarding yourtime and effort.
To maximize productivity, tryscheduling your tasks and
blocking that time on yourcalendar.
Some people will gobble up yourcalendar if you don't block the
time.
Let me know how this worksbetter for you.
I am very curious.
Opportunities for growth,development and advancement are
everywhere If you look, if youapply yourself and if you take
(07:43):
some risk to move out of yourcomfort zone.
I advocate for being differentand for pushing yourself to be
better and to improvecontinuously.
Stop sending information andstart being a leader who
actively partners with seniorleaders to deliver the strategy.
Believe that you can make adifference.
Believe in your abilities andyour leadership potential.
(08:04):
Never stop growing and neverslide into a comfort zone where
you do the same tasks every day.
Grow yourself and your mindsetdaily.
Be looking for opportunities toshow growth and to show your
skills.
Now let's talk about thetreasury roll for just a few
minutes.
Number one key responsibilitiesand tasks of the Treasury
(08:25):
function.
The Treasury function has acritical role in the
organization as the oneoverlooking and managing cash
and banking relationships.
Now I want to quickly mentionjust a few key responsibilities
in this role.
That's managing the keyresource for the organization,
which is cash.
It's about bankingrelationships, credit options,
overall liquidity and regulatoryand organizational policies.
(08:49):
This is knowledge andexperience that you can take
with you into many roles,especially as CFO and CEO.
Now, number two what this rolemeans for the organization.
Is your company liquid?
Can your company survive anegative change in the economic
conditions?
Leaders need to know the cashposition of the business at all
(09:10):
times.
Cash, along with credit,provides opportunities for
growth.
It also means the business canpay its obligations on time and
make investments for the future.
A healthy cash flow givesleaders more flexibility to grow
the business, to take advantageof discounts and special deals
and to take on key projects.
You have to know the financeoptions that are available for
(09:33):
investments and to fund ongoingoperations, to provide the best
advice to senior leaders.
Number three how this role canbe an opportunity for you.
I believe the Treasurymanagement role offers many
unique opportunities and forcritical skills development.
You will be involved instrategic finance problem
(09:53):
solving, while often workingwith a company's most senior
leaders.
You will have exposure toadvising the same leaders and
building your network.
Now I'll say this again theTreasury management role offers
a unique opportunity to developrare skills, knowledge and
experience.
This can be a way to bridge agap to better understanding of
strategic finance how to financeprojects in the long term that
(10:16):
will grow the company.
Understanding cash liquidity,banking and financing options
will strengthen your overallskillset and career
marketability.
Now, if you want a realchallenge, work for an
organization with a cash flowissue.
This can grow your problemsolving and influencing skills
exponentially.
Overall, this role can help yougrow your analytical skills
(10:39):
related to budgeting, spendingavailable credit and achieving
strategic objectives.
You should never overlook anopportunity.
The purpose of this episode wasto show you something different
that may be a great opportunityfor you to excel.
The Treasury manager role isone that can provide a chance to
work closely on the strategicobjectives and goals of the
(10:59):
organization.
You can have input on keybanking relationships and
strategic finance projects.
Do not overlook what this rolecan be to your future skillset
and career options.
A CFO with a Treasurybackground is an asset to any
company For action today, I havetwo things for you to consider
after this episode.
(11:19):
The first is to review theTreasury manager role as a
potential career move for you.
Add this to your plan and lookfor opportunities to apply.
I believe this is a greatopportunity to round out your
skills a lot more and to see howbusiness operates from a
different perspective.
The next issue is to review andupdate your individual
development plan, especiallywith your CPE completion.
(11:41):
This is the time to scheduleand complete the last of your
credits before we all get intothe fourth quarter.
Today I talked about theTreasury function and role and I
highlighted the followingpoints Number one, key
responsibilities and tasks ofthe Treasury function.
Number two, what this rolemeans for the organization.
And three, how this role can bean opportunity for you.
(12:03):
The Treasury role can provide arobust opportunity for you
because you can work onstrategic finance problem
solving and develop yourexperience and your network.
If you have not considered thisrole previously, don't overlook
it, because the role may bringyou to working on key projects
and advising at the highestlevels.
Now here is something else foryou to consider.
(12:24):
For me, I always perform betterwhen I was assigned to a poor
performing organization.
Sometimes the Treasurymanagement role can be extremely
challenging if the organizationis cash poor, has trouble
collecting cash, managing cashor has problems with raising
capital.
So taking a role with this typeof organization can be an
opportunity and look like anexpert leader solving tough
(12:47):
problems.
Yes, it can be more stressfulas you tackle tough challenges,
but this is where the rewardcomes in.
You get to make a difference,to help turn around a problem
organization, and your skillsgrow increasingly, which makes
you even more marketable for amore senior role later.
Now have a great rest of yourday and a great rest of your
week.
(13:08):
I hope you enjoyed the FinanceLeader podcast.
I am dedicated to helping yougrow your leadership skills, to
change your mindset and toclarify your goals so you
advance your career.
You can find this episodewherever you listen to podcasts.
If this episode helped youtoday, please share and leave a
quick review so that others canfind the podcast.
Until next time, you can checkout more resources at
(13:29):
financeleeracademycom and signup for my weekly updates so you
don't miss an episode of thepodcast.
And now go leave your team andI'll see you next time.
Thank you.
This week, I want to discuss the Treasury
Manager role and how this rolemakes a positive impact within
the organization.
Also, how it can provide anincredible opportunity for you
to grow your leadership andinfluence.
The Treasury Manager works onkey tasks and responsibilities
(00:25):
for the business, from cash flowand liquidity to banking
relationships and many more.
Understanding liquidity andfinancing options provides
choices for senior leaders.
The Treasury Manager is oftenthe key advisor and leader for
the CFO and CEO to rely on whenit comes to cash, credit and
liquidity options.
(00:46):
Don't overlook this opportunityas a way to grow your skills
and your experience.
Please enjoy the episode.
Welcome to the Finance LeaderPodcast, where leadership is
bigger than the numbers.
I am your host, Stephen McLain.
This is the podcast fordeveloping leaders in finance
and accounting.
Please consider following me onTwitter, facebook, instagram
(01:10):
and LinkedIn.
My user names and the links arein this episode's show notes.
This is episode number 109 andI'll be talking about the
Treasury Management role, and Iwill highlight the following
topics Number one keyresponsibilities and tasks of
the Treasury function.
Number two what this role meansfor the organization.
(01:31):
And three, how this role can bean opportunity for you.
I really like this quote fromhockey coach Herb Brooks risk
something or forever.
Sit with your dreams.
Now welcome back to anotherseason of the Finance Leader
Podcast.
I want to welcome the newlisteners to the podcast.
The goal for this podcast is tohelp finance and accounting
(01:53):
professionals to develop theirleadership skills, instead of
only our technical skills andour knowledge.
I believe that we all need tolearn to develop our leadership
to have a more positive impacton the organization, and it will
be through our leadership thatwe will set ourselves apart from
our competition so we get moreadvanced and senior role
(02:14):
opportunities.
I believe that anyone can learnand apply leadership.
It does not matter what yourrole is or what your background
is.
You can make a differencethrough your influence and
ability to lead from one set ofcircumstances to a better one.
We can lead with the analysisand the numbers that we have.
We lead when we sit with asenior leader and we show how
(02:37):
their metrics are performing andhow they can improve the
performance of their team,showing the numbers in a way
that makes more sense to them.
That is leadership and that ispositive influence.
I am going to continuallyemphasize and show how you can
become a better leader in therole you are working in, no
matter what it is, and you don'tneed to have manager or
(02:59):
director in your title to make adifference.
We are in the second half ofthe year.
How are you doing on your goalaccomplishment for 2023 and how
are you completing your requiredCPEs for this year?
I always say don't wait untilDecember to work on your CPEs.
Work on them now.
There are many training anddevelopment courses available to
(03:20):
help accomplish and completethose CPEs Now.
I covered a few interestingtopics in the bonus episodes
over this summer, which I wantto expand in future episodes, so
I will be working on that so wecan all further learn and apply
to our career.
This week, it's all about theTreasury function.
I believe we don't talk aboutthis role enough that our
(03:41):
finance and accountingprofessionals sometimes don't
realize this role is availableand what this role can do for
them.
You must have the mindset to dosomething different, to
challenge yourself, to bedifferent.
The Treasury Management role isabout cash flow, liquidity and
finance options to accomplishthe organization's strategic
objectives.
Cash flow represents what canhappen in the business.
(04:05):
Strategy is always aboutchoices making the right choice
with the resources you have.
Committing resources to supportthe right strategy is what CEOs
get paid to do.
This is senior leadership, andthis is why CEOs need the right
team around them, so they getthe correct advice to move
forward with strategic decisionmaking.
(04:26):
The Treasury Manager is a keyadvisor on cash flow, credit
arrangements, bankingrelationships, so the
organization knows best whatfinancial resources are
available to make the rightinvestment commitments and to
finance current operationsappropriately.
If you are a CFO or CEO, thisis how you can maximize this
role.
You want to have options and toknow what is possible with the
(04:49):
resources you have.
Ask questions on what ispossible, know your cash burn
rate, know what credit rates areavailable and know what
investment opportunities arealso available.
Is your company liquid?
Can you survive an economicdownside and can your company
take on a smart investment ifone pops up suddenly?
And to better know the riskssurrounding your cash position
(05:13):
and investments, your Treasuryteam can help you understand the
risk when weighing strategydecisions.
Overall, I want you to be amore well-rounded finance leader
.
I want you to make the TreasuryManager role yours.
You can do this by learning allabout banking and banking
relationships, credit management, cash flow and cash management.
(05:33):
Grow your network, grow yourknowledge and expand your skills
.
It will help you get furtheralong in your career.
Let's also talk aboutcertifications.
I love it when finance andaccounting professionals earn a
certification.
It's a sign and commitment ofprofessionalism and excellence.
I want to highlight a fewTreasury certifications you can
(05:55):
earn and a few resources.
I will put the links in theshow notes.
The first one is the CertifiedTreasury Professional, the CTP,
from the Association ofFinancial Professionals.
Also, there are a few Treasurycertificates from the
Association of CorporateTreasurers that would be very
beneficial to your professionalcredentials.
So check those out.
(06:16):
I'm going to put the links inthe show notes.
Always try to be expanding yourprofessional credentials by
earning a professionalcertification.
To help you in your financeleadership development journey,
I have a written guide for youcalled Become a Finance Leader.
You can download it for free atthe link in the show notes or
go to financeleaderacademycomand download it there.
(06:37):
This guide will help you withyour mindset and your finance
leadership related topics, soyou can help leaders throughout
the organization.
I often talk about theorganizational tools we have
available to make our days moreproductive.
I love lists and calendars andestablishing priorities.
I am leaning more and more intoscheduling the tasks on my
(06:59):
to-do list.
Many people are already doingthis.
My daily routine was always toupdate my to-do list, prioritize
that list and then go to workgetting that list done.
But we all know that our dayoften does not go as planned and
things and issues emerge.
This is why scheduling tasks onyour calendar are more
important than just having ato-do list.
(07:20):
This is about guarding yourtime and effort.
To maximize productivity, tryscheduling your tasks and
blocking that time on yourcalendar.
Some people will gobble up yourcalendar if you don't block the
time.
Let me know how this worksbetter for you.
I am very curious.
Opportunities for growth,development and advancement are
everywhere If you look, if youapply yourself and if you take
(07:43):
some risk to move out of yourcomfort zone.
I advocate for being differentand for pushing yourself to be
better and to improvecontinuously.
Stop sending information andstart being a leader who
actively partners with seniorleaders to deliver the strategy.
Believe that you can make adifference.
Believe in your abilities andyour leadership potential.
(08:04):
Never stop growing and neverslide into a comfort zone where
you do the same tasks every day.
Grow yourself and your mindsetdaily.
Be looking for opportunities toshow growth and to show your
skills.
Now let's talk about thetreasury roll for just a few
minutes.
Number one key responsibilitiesand tasks of the Treasury
(08:25):
function.
The Treasury function has acritical role in the
organization as the oneoverlooking and managing cash
and banking relationships.
Now I want to quickly mentionjust a few key responsibilities
in this role.
That's managing the keyresource for the organization,
which is cash.
It's about bankingrelationships, credit options,
overall liquidity and regulatoryand organizational policies.
(08:49):
This is knowledge andexperience that you can take
with you into many roles,especially as CFO and CEO.
Now, number two what this rolemeans for the organization.
Is your company liquid?
Can your company survive anegative change in the economic
conditions?
Leaders need to know the cashposition of the business at all
(09:10):
times.
Cash, along with credit,provides opportunities for
growth.
It also means the business canpay its obligations on time and
make investments for the future.
A healthy cash flow givesleaders more flexibility to grow
the business, to take advantageof discounts and special deals
and to take on key projects.
You have to know the financeoptions that are available for
(09:33):
investments and to fund ongoingoperations, to provide the best
advice to senior leaders.
Number three how this role canbe an opportunity for you.
I believe the Treasurymanagement role offers many
unique opportunities and forcritical skills development.
You will be involved instrategic finance problem
(09:53):
solving, while often workingwith a company's most senior
leaders.
You will have exposure toadvising the same leaders and
building your network.
Now I'll say this again theTreasury management role offers
a unique opportunity to developrare skills, knowledge and
experience.
This can be a way to bridge agap to better understanding of
strategic finance how to financeprojects in the long term that
(10:16):
will grow the company.
Understanding cash liquidity,banking and financing options
will strengthen your overallskillset and career
marketability.
Now, if you want a realchallenge, work for an
organization with a cash flowissue.
This can grow your problemsolving and influencing skills
exponentially.
Overall, this role can help yougrow your analytical skills
(10:39):
related to budgeting, spendingavailable credit and achieving
strategic objectives.
You should never overlook anopportunity.
The purpose of this episode wasto show you something different
that may be a great opportunityfor you to excel.
The Treasury manager role isone that can provide a chance to
work closely on the strategicobjectives and goals of the
(10:59):
organization.
You can have input on keybanking relationships and
strategic finance projects.
Do not overlook what this rolecan be to your future skillset
and career options.
A CFO with a Treasurybackground is an asset to any
company For action today, I havetwo things for you to consider
after this episode.
(11:19):
The first is to review theTreasury manager role as a
potential career move for you.
Add this to your plan and lookfor opportunities to apply.
I believe this is a greatopportunity to round out your
skills a lot more and to see howbusiness operates from a
different perspective.
The next issue is to review andupdate your individual
development plan, especiallywith your CPE completion.
(11:41):
This is the time to scheduleand complete the last of your
credits before we all get intothe fourth quarter.
Today I talked about theTreasury function and role and I
highlighted the followingpoints Number one, key
responsibilities and tasks ofthe Treasury function.
Number two, what this rolemeans for the organization.
And three, how this role can bean opportunity for you.
(12:03):
The Treasury role can provide arobust opportunity for you
because you can work onstrategic finance problem
solving and develop yourexperience and your network.
If you have not considered thisrole previously, don't overlook
it, because the role may bringyou to working on key projects
and advising at the highestlevels.
Now here is something else foryou to consider.
(12:24):
For me, I always perform betterwhen I was assigned to a poor
performing organization.
Sometimes the Treasurymanagement role can be extremely
challenging if the organizationis cash poor, has trouble
collecting cash, managing cashor has problems with raising
capital.
So taking a role with this typeof organization can be an
opportunity and look like anexpert leader solving tough
(12:47):
problems.
Yes, it can be more stressfulas you tackle tough challenges,
but this is where the rewardcomes in.
You get to make a difference,to help turn around a problem
organization, and your skillsgrow increasingly, which makes
you even more marketable for amore senior role later.
Now have a great rest of yourday and a great rest of your
week.
(13:08):
I hope you enjoyed the FinanceLeader podcast.
I am dedicated to helping yougrow your leadership skills, to
change your mindset and toclarify your goals so you
advance your career.
You can find this episodewherever you listen to podcasts.
If this episode helped youtoday, please share and leave a
quick review so that others canfind the podcast.
Until next time, you can checkout more resources at
(13:29):
financeleeracademycom and signup for my weekly updates so you
don't miss an episode of thepodcast.
And now go leave your team andI'll see you next time.
Thank you.
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