Treasury Management is the trending career option today. The global economy is increasing rapidly, and professionals are required to take care of a company’s daily operations and management of financial assets.
This career is exciting, varied and a rewarding option to be considered if you want to transition into an interesting career that is different from traditional jobs in business finance.
Keep exploring the article to know everything about pursuing a career as a Treasurer.
Who is a Treasurer?
Also called Corporate Treasures, their main job is to make sure that in a business, the cash and financial risks are properly managed and optimized and outlook for long-term planning is observed.
They help an organization to be in profit by helping them in generating accurate financial statements and monitoring their investment choices.
Responsibilities
The following are some of the responsibilities of a Treasurer.
- Building and meeting the budgetary targets while working with other executives under the supervision of the Chief Executive Officer.
- Coordinating investment decisions and producing detailed financial statements.
- Reducing organizational costs and improving efficiency by the development of strategies.
- Preparation of tax returns and compilation of regulatory filings.
- Preparing report daily during the financial year that helps the businesses or organizations for evaluating financial decisions, marketing strategies, financial accounting support etc.
- Employment of Strategic Planning to achieve the company’s targets.
Job Profiles
The following are the job profiles of a Treasurer.
- Treasury Analyst.
- Financial Analyst.
- Cash Manager.
- Finance director.
- Company Secretary.
- Chief Financial Officer.
Education and Eligibility
If you are aspiring to become a Treasurer, follow the education path mentioned below to become one.
- Completion of 10+2 in commerce stream with a minimum of 50% from a recognized board.
- Qualify the entrance exams like Common Admission Test (CAT), Xavier Aptitude Test (XAT), and Management Aptitude Test (MAT) etc to pursue Bachelor courses.
- Complete your bachelor in BBA (fields like Finance or Account management or Banking and Finance) or BBE or B.Com (in Finance, Business Administration, Math, Sales and Marketing).
- Pursue masters for better career prospects like MBA (in Finance or Business analytics or Marketing) or M.Com (in Accounting, Business Management, Taxation).
Certifications
Having certified as a Treasurer is an added advantage. Some of the relevant certifications for Treasurers are:
- Certified Treasury Professional (CTP).
- Chartered Financial Analyst (CFA).
- Professional Certificate in Accounting and Financial Analysis.
Top Colleges to become a Treasurer
The following are some of the top colleges in India that offer courses in finance and accounting to become a Treasurer.
- Indian School of Business, Hyderabad.
- Indian Institute of Management, Kozhikode.
- MICA, Ahmedabad.
- Bharathiar University, Coimbatore.
- National Institutes of Securities Market, Navi Mumbai.
- Faculty of Management Studies, Delhi.
- Indian Institute of Management, Indore.
Required Skills
The following are the skills that are needed to become a successful Treasurer:
- Analytical Skills.
- Management Skills.
- Excellent Communication and Interpersonal skills.
- Organization skills for Financial Documentation.
- Mathematical Skills like knowledge of Statistics.
- Detail-oriented for compiling and examining documentation and financial statements.
- Problem-solving skills.
- Be updated about the latest developments in the financial world.
- Research skills and business acumen.
Employment Sector for Treasurers
Treasurers are a role related to finance management. They are hired by companies to manage their day-to-day operations, long term planning and financial assets management. The following are the top employment sectors that hire Treasurers:
- Banks
- Financial Service Providers
- Asset Management Companies
- Financial Consultancies
- Private Organizations
- NGOs etc.
Salary and Career Outlook
In India, the average salary of a Treasurer is around INR 10 LPA according to Glassdoor. In the U.S, the average hourly salary of a Treasurer is $20. These salaries are dependent on these professionals’ skills, experience level, geographic location and job responsibilities. According to Payscale, the average salary of treasurers is $84,716 yearly.
According to the US Bureau of Labor Statistics, the employment rate of these professionals is expected to grow by 16% from 2018 to 2028. The risk management jobs like the corporate treasurers will be in great demand in the coming years and a master degree in finance and relevant fields will be icing on the top.
The corporate treasury path is promising and bright for candidates with the right soft skills, an advanced or higher education degree and some relevant work experience.
Due to the emerging economy around the globe and overall economic activity is growing and providing new investment opportunities, the demand for Treasurers is expected to grow. The best employment opportunities for these professionals can be found in sectors like Private Companies, Insurance Providers, Government Agencies and Non-profit Organizations.
– Samiya Firdous
