Head of Treasury Qualifications and Skills

In the dynamic and ever-evolving world of finance, the role of a Head of Treasury has become increasingly critical. This senior management position, leading corporate treasury, oversees a company’s financial assets, cash flow and liquidity management, financial risk management, and optimising investments.

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To excel in this multifaceted role, individuals must possess a unique blend of qualifications and skills that span financial acumen, leadership, and strategic thinking.

This article will explore the qualifications and skills required to become an effective Head of Treasury.

Head of Treasury Role and Responsibilities

The Head of Treasury, the Treasurer or Chief Treasury Officer (CTO), is a senior-level executive responsible for managing an organisation’s financial assets, liquidity, and risks.

This position is crucial for maintaining the financial stability and growth of the company.

The specific roles and responsibilities of a Head of Treasury can vary depending on the size and nature of the organisation, but generally, they encompass the following:

  • Cash Management: Oversee the cash flow management, ensuring the organisation has sufficient funds to meet its financial obligations; Develop and implement cash management processes and strategies to optimise the utilisation of cash reserves and bank accounts and monitor and forecast cash flows to anticipate any potential cash shortfalls or excesses.
  • Risk Management: Identify, assess, and mitigate financial risks such as interest rate fluctuations, foreign exchange exposure, credit risks, and liquidity risks and implement risk management strategies through financial instruments, including hedging and insurance, to protect the organisation from adverse market conditions.
  • Investment Management in Financial Markets: Manage the organisation’s investment portfolio to maximise returns while preserving capital and adhering to the company’s risk tolerance; conduct thorough analysis and research to make informed investment decisions and diversify the investment portfolio to spread risk across different asset classes.
  • Funding and Capital Structure: Determine the optimal funding mix, considering a balance between equity and debt financing; oversee the issuance of financial instruments of debt securities, negotiate terms with lenders or investors and develop and execute capital-raising strategies to support the organisation’s growth initiatives.
  • Financial Reporting and Compliance: Prepare and present financial reports on treasury activities for management, the board of directors, and other stakeholders; ensure compliance with relevant financial regulations and reporting standards and coordinate with internal and external auditors to facilitate audits related to treasury operations.
  • Financial Institutions and Bank Relationship Management: Manage relationships with banks, rating agencies, financial institutions, and critical stakeholders to ensure access to banking services and favourable terms; negotiate banking fees, interest rates, credit facilities and other financial arrangements to optimise banking relationships.
  • Cash Flow Forecasting and Budgeting: Collaborate with finance manager and accounting teams to execute cash flow analysis, liquidity needs, debt management and funding requirements and contribute to developing the organisation’s overall financial budget and long-term financial plans by promptly providing financial data.
  • Treasury Systems and Technology: Implement and maintain treasury management systems (TMS) and other financial technology to streamline treasury operations and processes, thereby increasing operational efficiency and staying updated with advancements in financial technology to enhance efficiency and accuracy in treasury functions.
  • Strategic Planning: Contribute to the organisation’s strategic financial planning process, particularly in areas related to financial management and risk mitigation, as the right-hand man of the Chief Financial Officer and provide financial insights, analysis, and treasury projects to support critical business decisions and objectives.
  • Team Leadership: Lead and manage the Treasury Function, providing guidance, coaching, and mentorship to Treasury Managers, Treasury Team, and Treasury Analysts and fostering a collaborative and results-oriented work environment within the treasury department.

The Head of Treasury plays a critical role in safeguarding the organisation’s financial health and ensuring that the company’s financial resources are effectively managed and utilised.

Their decisions and actions directly impact the organisation’s financial stability, growth prospects, and overall success.

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The academic qualifications required for a Head of Treasury position typically revolve around a solid educational background in finance, accounting, economics, or a related field.

While specific academic requirements can vary depending on the organisation and industry, a bachelor’s degree is typically a minimum requirement for a Head of Treasury and, generally, Treasury Professionals.
Candidates often hold a degree in finance, accounting, economics, business administration, or a related field. A bachelor’s degree provides a solid foundation in financial principles, investment management, and financial analysis.
Given the nature of the role, which requires advanced knowledge of financial instruments and market trends and interpretation of complex financial transactions, degrees in finance-related fields usually are preferred; this, though, should not discourage treasury professionals who have a bachelor’s degree in a different discipline.

It is important to note that academic qualifications are just one aspect of the overall qualifications required for a Head of Treasury position. Practical experience, a track record of success in finance roles, and a thorough understanding of financial markets and risk management are equally important factors in securing this senior-level position.

Head of Treasury Academic Qualifications

Alongside formal degrees, professional certifications can significantly enhance the qualifications of treasury professionals and, in general, financial professionals wishing to point their careers towards Head of Treasury positions.

Common certifications include:

  • Chartered Financial Analyst (CFA): The CFA designation demonstrates expertise in investment analysis and portfolio management, both critical aspects of treasury functions.
  • Certified Treasury Professional (CTP): The CTP certification is specifically designed for treasury professionals, showcasing cash management, risk management, and corporate finance expertise.
  • Certified Public Accountant (CPA), ACCA or equivalent: While more focused on accounting, a CPA designation can add credibility to a Head of Treasury’s financial acumen.

Depending on the industry and specific requirements, other certifications may be valuable. For example, treasury professionals working in multinational companies may benefit from certifications related to foreign exchange (FX) and international finance.

Tertiary Education

While a master’s degree is not always an absolute necessity to become a Head of Treasury, it can significantly enhance your qualifications and competitiveness for this senior-level position.

Many organisations prefer candidates with advanced degrees, such as a Master’s in Business Administration (MBA) or a Master’s in Finance. An MBA program with a finance specialisation can provide a comprehensive understanding of financial management, strategic decision-making, and leadership skills, which are highly relevant to a Head of Treasury position.

Work Experience

Work experience is vital to work as Head of Treasury.

Due to the rapidly changing environment of finance, and new models of cash ownership, use, transference and credit, skilled Treasury Professionals are experts in their field – and because a Treasury Professional is necessary for almost every industry (to some degree), there are a wide array of work experience opportunities present to finance professionals interested in a Treasurer career.

There is no set course for job advancement that would increase the likelihood of becoming the head of the Treasury.; given the “financial” nature of the role, candidates with experience in Financial Institutions tend to have an advantage over others who pursued a more commercial route.

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An internship within a financial firm or department that has elements of financial controlling, cash management, accounting or credit control will stand any Treasurer candidate in good stead. In theory, the same channels of internship and training that support a career in accounting are appropriate to becoming a Head of Treasury but take stock of roles with business, economics and strategic management options.

What Skills Are Needed To Succeed as a Head of Treasury?

A Head of Treasury’s role demands diverse skills encompassing financial expertise, strategic thinking, risk management, leadership, and effective communication. As a senior-level executive responsible for managing an organisation’s financial assets and cash flow, the Head of Treasury must possess the following essential skills: interpersonal and hard skills.

  • Leadership-level Communication skills: No matter the size of your enterprise, your role as Head of Treasury means you’ll be sitting at the right hand of financial decision-makers and external stakeholders, providing them with up-to-date cash flow, credit, investment and fiscal health advice. You should therefore possess natural leadership qualities, communication skills, and financial wisdom. You’ll need to provide diligent leadership-level advice to everyone from investors to credit controllers, CEOs to interns – therefore, strong communication skills are vital.
  • Financial Acumen: A deep understanding of financial principles, accounting practices, and financial markets is essential. The Head of Treasury should be adept at analysing financial data, interpreting financial statements, and making informed decisions based on financial insights.
  • Strategic Financial Planning: Developing and executing financial strategies aligned with the organisation’s goals and risk appetite is crucial, which includes forecasting cash flow, optimising cash reserves, and managing the capital structure effectively.
  • Cash Flow Management: Effective cash flow management is essential to meet financial obligations and seize investment opportunities. The Head of Treasury must be skilled at forecasting cash needs, optimising cash flow, and maintaining sufficient liquidity.
  • Investment and Portfolio Management: Managing the organisation’s investment portfolio to maximise returns while minimising risks is vital to the role. The Head of Treasury should have expertise in investment analysis, portfolio diversification, and monitoring investment performance.
  • Technological Proficiency: In the digital age, treasury management relies heavily on financial technology and analytical tools. The Head of Treasury should be tech-savvy and capable of leveraging treasury management systems (TMS) and data analytics to enhance efficiency and decision-making.
  • Negotiation and Relationship Management: Building and maintaining positive relationships with banks, financial institutions, and external partners is essential for successful treasury operations. Negotiating favourable terms for banking services and financial arrangements can impact the organisation’s economic performance. The Head of Treasury must possess a well-rounded skillset that combines financial expertise, risk management, leadership, and effective communication to ensure financial stability and growth.

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Head of Treasury Career Development and Progression

The career progression to become a Head of Treasury typically involves gaining relevant experience, acquiring specific skills, and taking on increasingly responsible roles within an organisation’s treasury and finance functions.  While the particular path can vary depending on individual circumstances, industry, and organisation, (that is from audit, through a finance career and then transitioning into treasury) the typical career progression may include the following stages:

  • Entry-Level Finance or Treasury Role: The journey often begins with entry-level positions in finance or treasury departments.  Typical roles include financial analyst, treasury analyst, or cash management associate. In these roles, individuals gain foundational knowledge of economic principles, cash management, and essential treasury functions.
  • Treasury Analyst or Manager: After gaining some experience in treasury operations, individuals may transition into the role of a Treasury Analyst or Treasury Manager. They take on more strategic responsibilities in this capacity, such as cash flow forecasting, risk analysis, and supporting treasury decision-making.
  • Senior Treasury Manager or Assistant Treasurer: With additional experience and demonstrated proficiency, individuals may advance to more senior roles, such as Senior Treasury Manager or Assistant Treasurer. These positions involve outstanding leadership and decision-making responsibilities, working closely with the Head of Treasury or Treasurer.
  • Treasurer or Director of Treasury: The next step in the career progression is to assume the Treasurer or Director of Treasury role. At this level, professionals oversee the entire treasury function and develop and implement treasury strategies aligned with the organisation’s goals.
  • Head of Treasury or Chief Treasury Officer (CTO): Finally, the pinnacle of career progression in treasury management is the position of Head of Treasury or Chief Treasury Officer (CTO). As the topmost treasury executive, individuals in this role are responsible for the overall financial management of the organisation, managing financial risks, and providing strategic direction to support the company’s growth and financial stability.

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It’s crucial to remember that becoming a Head of Treasury requires a more complicated professional path. Before transitioning to treasury leadership, professionals may also gain experience in finance-related roles, such as financial planning and analysis (FP&A), risk management, or investment management. Additionally, obtaining relevant certifications, such as the Certified Treasury Professional (CTP) or pursuing an advanced degree like an MBA with a finance specialisation, can enhance career prospects and accelerate the journey to a Head of Treasury position.

Find out more about life as a Head of Treasury and other details by following the below links:

Job Description & ProfileSalary & PayCV Template & ExamplesHow to Become to find out about the treasurer job roles we currently have available.

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