What are the Treasury Management Trends for 2023 with Eleanor Hill from TMI

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What are the Treasury Management Trends for 2023 with Eleanor Hill from TMI

Treasury Management with Eleanor Hill

Welcome to Corporate Treasury 101. We have a treat in store for you in today’s special article. We are honoured to have Eleanor Hill, an esteemed editor at Treasury Management International (TMI), as our guest. Eleanor is an expert in her field and one of the main hosts of the renowned Treasury Cast podcast. With her extensive experience, she brings invaluable insights and interviews top professionals, including bankers, corporate treasurers, and fintech founders, to uncover the latest trends and developments in the realm of the treasury.

At TMI, Eleanor is crucial in gathering knowledge, identifying emerging trends, and providing thought leadership in the treasury domain. With the Treasury Cast podcast, she amplifies these efforts by engaging in captivating conversations with industry experts. This podcast has become one of the most prominent platforms for treasury professionals, delivering knowledge and facilitating meaningful discussions.

By reading this article, you can expect to learn the following:

  • What Is TMI And the Treasury Cast
  • What Are the Major Trends Eleanor Has Identified for The Coming Year
  • The Importance of Developing and Maintaining A Network In Treasury
  • What Are Treasury Associations
  • NTAs And the Role They Play Together With TMI
  • And Much More

So, let’s delve into the fascinating world of treasury management and uncover the invaluable insights shared by Eleanor Hill.

An Introduction to Eleanor Hill and TMI

Eleanor Hill, a seasoned treasury expert and editor of Treasury Management International (TMI), gives an overview of her journey in the treasury field and her role at TMI.

Eleanor, with 15 years of experience in treasury, is not new to the world of finance. Over the years, she has seen the sector evolve and change. Besides her professional pursuits, she shares her love for art and the outdoors.

TMI is a renowned treasury media provider serving the industry since 1992. As Eleanor explains, TMI provides high-quality thought leadership on the trends shaping the corporate treasury world. They accomplish this through interviews with some of the biggest players in the field, including group treasurers, CFOs, and fintech founders. TMI aims to share information and insights in a useful and engaging way for its audience.

The Emergence of Treasury Podcasts

One way TMI accomplishes this goal is through its TMI App and the Treasury Cast podcast, their dedicated podcast channel. Podcasts, as Eleanor shares, offer a fresh, engaging medium for people to consume information. They allow for multitasking and provide a human element to information sharing that’s much needed in this era of remote work. Topics range from global minimum tax to sustainable supply chain financing, catering to a wide spectrum of interests within the treasury world.

The success of the Treasury Cast podcast is a testament to the growing popularity of podcasts in the treasury sector. Eleanor highlights how the podcast offers a quick hit of the latest topics and allows professionals to stay updated while juggling other tasks.

The Global Reach of TMI

As for TMI’s geographic focus, Eleanor clarifies a common misconception. While TMI is based in the UK, its audience is global, with about 40% of its subscribers in Europe, 25% each in the Asia Pacific and the Americas, and the remaining from the Middle East and Africa.

TMI’s content is diverse and all-encompassing, including articles, podcasts, industry surveys, and events associated with national treasury bodies. These surveys provide fascinating insights into trends across different regions, enhancing the understanding of global treasury operations.

Despite remote working challenges, Eleanor shares how the small, tight-knit TMI team has made it work, effectively serving their global audience from different parts of the UK.

Recent Trends in Treasury Management: How Do They Affect Treasury Professionals?

Treasury management is a fast-paced field that’s constantly evolving. Current trends and shifts influence the treasury landscape and bring new challenges.

A Global Overview: Major Challenges and Focus Areas

Eleanor, an expert with rich experience in the treasury space, highlights that the macro-environment is brimming with challenges. From the pandemic to geopolitical tensions such as Russia’s war in Ukraine and other unfolding crises, treasurers have their work cut out.

Among these challenges, risk management remains paramount. With significant market volatility and a spotlight on commodities and foreign exchange (FX), treasurers are constantly working to manage risks effectively. Let’s delve deeper into these critical areas:

  • Ethics and Commodity Risk: Market volatility brings a lot of attention to ethics. For treasurers dealing with commodities, the risk is back in the spotlight. Treasurers must build more flexibility into their hedging strategies to manage this effectively. This could mean taking a fresh look at derivatives, exploring new approaches, or even using them for the first time.
  • Transactional Ethics: This isn’t limited to big-ticket items. It’s also about those numerous small transactions, such as international payments. Ensuring you’re getting the best rates on these transactions is essential.
  • Supply Chain Risks: The pandemic has impacted supply chains, leading to nearshoring, reshoring, and new suppliers entering the scene. This introduces potential risks related to new countries and currencies. Additionally, larger buyers are increasingly keen to support their suppliers who might be financially strained, leading to renewed interest in supply chain finance.

A Deep Dive into Cash Management

Cash management, particularly liquidity, is another trending topic. Rising interest rates prompt treasurers to consider where to place their excess cash, balancing acceptable risk levels and returns. This scenario leads to questions on whether deposit rates reflect the actual rate rises promptly or if money market funds (MMFs) are a better option.

On top of this, many companies face economic squeeze, prompting a keen focus on improving cash forecasting techniques. There’s a growing interest in finding trapped working capital, often related to supply chain issues. With companies sitting on significant inventories due to fears of supply chain disruptions, this ties up working capital and needs careful management.

Eleanor’s observations resonate with the broader industry, underlining the importance of staying abreast of these trends and the constant need for adaptation. It shows that treasury management, although challenging, is never dull and constantly demands new strategies to overcome emerging issues.

Explaining Treasury Challenges and Money Market Funds

As Hussam points out, Treasury professionals face many tasks beyond managing interest rates and hedging strategies. These include talent acquisition, making treasury more accessible to people, and efficiently utilizing the data treasury sits on. These are consistent issues but become more pressing given current economic conditions. Let’s dig into Eleanor’s response to these points and explore what a Money Market Fund (MMF) is, which Hussam inquires about.

Talent Acquisition and Diversity

Eleanor shares that attracting future talent to the treasury profession is a growing concern. One challenge lies in the perception of the treasury as a profession. It doesn’t seem as appealing compared to some other industries. Also, there’s a diversity issue. There’s a noticeable lack of women and people from diverse age ranges and backgrounds at industry events.

This lack of diversity pushes for more accessible and diverse hiring practices like blind recruitment. There’s also a call for new skills in the treasury departments, such as data analytics and artificial intelligence knowledge. Eleanor’s survey revealed that recruiters are looking for tech-savvy individuals with good people skills and an interest in sustainability and ESG (Environmental, Social, and Governance).

The Rise of ESG

The focus on ESG is growing in the treasury field. It has moved beyond green bonds and loans to sustainable deposits and ESG-linked derivatives. However, the downside includes issues like “greenwashing” – the process of making an organization appear more environmentally friendly than it is.

What is a Money Market Fund (MMF)?

Eleanor explains that an MMF is a popular investment tool among treasurers. These are funds where treasurers can invest, which are considered quite safe due to heavy regulations. The emergence of ESG MMFs also adds a new dimension to this financial instrument.

In a nutshell, treasury professionals need to navigate multiple challenges that extend beyond traditional treasury operations. These include hiring the right talent, increasing diversity, understanding new technology, and keeping an eye on the changing landscape of financial instruments such as MMFs.

How is the Treasury Department Broadening into Other Parts of an Organization?

Hussam asked if Eleanor has noticed the treasury’s role expanding within corporations due to the growing need for better treasury management. he is interested in whether there is more engagement from other company departments, such as CFOs or HR.

Eleanor confirms Hussam’s observations. Treasury departments are increasingly recognized and involved in different parts of an organization. Approximately 10% of their readership, she notes, comes from CFOs. This, along with an increase in dialogues between treasurers and CFOs and other departments like procurement and sustainability, clearly broadens the treasury’s influence.

This interdepartmental collaboration becomes especially significant when dealing with supply chain issues. Some treasury professionals even hold dual roles, managing both treasury and sustainability in their organizations. However, despite the broadening scope of the treasury, Eleanor mentions there’s still much work to do, particularly with IT departments.

What Tools for Treasurers are Emerging to Help with This Expansion?

Guillaume then shifts the conversation to what emerging tools may assist treasurers in handling increasingly demanding tasks, such as managing high market volatility and risks.

Eleanor suggests automation as a key strategy for the future. Given the relatively lean nature of many treasury departments, they must do more with fewer resources. Therefore, robotic process automation (RPA) and artificial intelligence (AI) —smart RPA — could provide immense help. This technology can automate data extraction and transfer between sources, reducing manual labour and improving efficiency.

Tools for Treasurers in Treasury Management
Photo by Anna Nekrashevich on Pexels

Additionally, she highlights the role of Application Programming Interfaces (APIs), which can help with system integration, bank reporting, payment initiation, and real-time foreign exchange rate updates.

As the conversation shifts towards more innovative solutions, Eleanor warns that these are still in the early stages of development. She mentions generative AI, such as Chat GPT, that can generate content like treasury policy drafts or provide information to aid decision-making. However, she reiterates that such technologies are still very early days.

Similarly, she brings up the ‘Metaverse’, a term popping up in treasury conversations, although she doesn’t believe it should be a priority over more immediate innovations.

Eleanor concludes by urging treasurers to keep an eye on the future, particularly towards Central Bank Digital Currencies (CBDCs) and cryptocurrencies. While these might not be relevant to all treasurers, they represent a global trend towards digital money worth paying attention to, especially for those involved in e-commerce.

The Status and Potential of FinTechs and New Solutions in the Treasury Market

Eleanor briefly discusses the exciting new developments in the financial technology (FinTech) landscape and its implications for treasury professionals. She explains that FinTech companies are increasingly catching the attention of treasurers keen to leverage new payment solutions, reporting tools, and other innovative products and services. However, she refrains from mentioning specific FinTechs due to the diverse and growing number of players in the field.

The TMI Innovation Lab: A Hub for Cutting-Edge FinTechs

To help treasury professionals keep track of the latest and most promising FinTech innovations, Eleanor directs listeners to the TMI Innovation Lab. This platform hosts and reviews a variety of FinTechs, examining their offerings and potential impact on the treasury domain. The TMI Innovation Lab assesses the relevance of each FinTech solution to the needs and challenges faced by treasurers.

The Scope of FinTech Innovations

The FinTechs featured in TMI Innovation Lab tackle a broad spectrum of areas within treasury management. From risk management solutions to dynamic discounting applications, these FinTechs offer many tools that can bring substantial efficiencies and advantages to treasurers. However, Eleanor also acknowledges that not all these solutions are fully developed or widely adopted, especially since many FinTechs are still emerging.

Changing Attitudes Toward FinTechs

Eleanor points out a noticeable shift in how treasurers interact with FinTechs. Initially, treasurers were more inclined to engage with FinTechs through banks, preferring the additional security and familiarity this provided. But now, treasurers are increasingly choosing to work directly with FinTechs. This trend signals a growing confidence in and acceptance of these innovative solutions, indicating a more proactive approach to adopting advanced technologies in treasury management.

Budget-Friendly FinTech Solutions

A key appeal of these direct relationships with FinTechs is the ability to find solutions that fit into tighter budgets. This opens up new possibilities for smaller treasury departments to access cutting-edge tools that were once only affordable for larger entities.

By highlighting the ongoing transformation in the treasury landscape due to FinTech innovations, Eleanor encourages treasury professionals to keep an eye on this dynamic domain. The opportunities these innovative solutions present could be the key to navigating the challenges and complexities of modern treasury management.

Evolving Treasury Market Regulations and Treasurers’ Management Strategies

Eleanor emphasizes that regulatory changes are a constant reality in the treasury world. These changes can pose significant challenges to treasurers, particularly given the speed at which they occur and their varying nature across different regions. The European Association of Treasurers, for example, currently has 15 regulations on their watchlist, demonstrating the breadth and depth of regulatory changes that treasurers need to stay informed about.

Key Regulations and Their Implications

Eleanor points out a few key regulatory changes that treasurers should be aware of:

  1. The Libor transition: USD Libor, a critical benchmark interest rate, is set to be phased out mid-this year. This change is significant as it affects various contracts that must transition to new reference rates.
  2. The introduction of a global minimum tax: Proposed by the OECD and adopted by the EU, this regulation involves a move to a 15% minimum corporation tax rate. While the implementation timeline is still uncertain, the rule’s potential impact on company operations and tax efficiency in different jurisdictions can significantly affect treasury operations.
  3. ESG regulations: The evolving regulations related to Environmental, Social, and Governance (ESG) matters also impact treasury. For instance, the Corporate Sustainability Reporting Directive (CSRD) is set to replace the non-financial reporting directive in the EU. This change will elevate sustainability reporting to the same level as financial reporting, an important development that could involve treasury departments more in ESG matters.

Navigating the Regulatory Jungle

With the many regulatory changes in various regions, keeping up can seem nearly impossible for treasury professionals. To handle this challenge, Eleanor suggests seeking support. This could be from internal experts, legal teams, banks, consultants, or National Treasury Associations (NTAs), which often have regulatory specialists on their teams.

Eleanor also mentions ‘RegTech’, a branch of FinTech focusing on regulations. While currently mostly serving banks, she predicts that this sector will expand into the corporate space, particularly around ESG reporting, potentially offering another avenue of support for treasurers.

In conclusion, while the evolution of regulations in the treasury space can be daunting, vigilance, collaboration, and emerging technologies can help treasurers stay ahead of these changes and ensure compliance.

Emerging Talent Acquisition and Retention Trends in the 2023 Treasury Space

Eleanor asks Guillaume about the trends he’s noticed in the treasury sector for 2023, Especially in Talent Acquisition and Retention.

Treasury Talent Pool: More of a Puddle

In response, Guillaume refers to a comment by Mike Richards, a notable guest on their show. Mike had described the treasury talent pool as more of a ‘puddle’, indicating a scarcity of qualified professionals in the field. He explains how finding and keeping talented individuals is a big challenge in the treasury world.

It seems the field of the treasury isn’t a popular choice for university graduates due to a lack of focused courses in this area. Many university finance modules do not cover treasury studies extensively, so graduates aren’t typically aware of the role of a treasurer.

Skills That Matter

Moreover, the kind of skills that treasury departments need are constantly evolving. With the increasing relevance of big data, departments are now looking for talents with data management and data science skills, in addition to basic treasury knowledge.

Another guest, Bart Hendricks from Civil Logistics, shared his struggle to build a team for his in-house bank and shared service centre. Finding the right people with the right skillset was a significant challenge.

Upskilling Existing Teams

Having an engineering background, Hussam found the growing prominence of data science in the treasury space intriguing. Upskilling existing organizations was a topic discussed with TIS, a treasury vendor. The challenge is to recruit for this ‘new age of data’ and uplift existing talent.

Interestingly, some departments are hiring data science majors directly, believing it’s easier to teach a data scientist about treasury than a treasurer about data science.

In summary, the major trend for treasury in 2023 is a shifting focus towards data science skills. This presents both a challenge and an opportunity for treasury professionals to evolve and grow with the industry’s needs.

The Crucial Role of Networking in Treasury

For treasury professionals, networking is not just about meeting new people. It serves a much deeper purpose. As Eleanor highlights, this practice is fundamental for a variety of reasons. For one, it facilitates knowledge sharing at all levels. By interacting with peers, treasury professionals can gain insights into the best (and worst) approaches to tackling their tasks.

On top of this, networking serves as a platform for mutual support. With the high-pressure nature of treasury roles, having a fellow professional to lean on can be comforting. Someone who knows the ins and outs of the job can provide support, guidance, or mentorship based on a shared understanding of the pressures involved.

While Eleanor emphasizes the importance of regularly nurturing these professional relationships, she acknowledges that not everyone finds networking easy.

Introversion and Networking: Striking a Balance

Despite being an introvert herself, Eleanor has devised strategies to network effectively. She suggests making the most of digital tools, like email and LinkedIn, to connect with peers. She often identifies a handful of people she wants to connect with at conferences, makes an effort to speak with them, and then extends her networking online.

Eleanor’s approach demonstrates that introverts can successfully network without exhausting themselves. They need to strike a balance that suits their comfort levels.

Recharge, Prepare, and Manage Interactions

Despite her success in networking, Eleanor admits that it can be draining. Introverts often need time to recharge after social interactions. She respects her need for downtime, even at events she hosts, taking time to relax and process her experiences.

Preparation also plays a critical role in Eleanor’s networking strategy. She prefers to have ample time to think through her responses, appreciating when she receives questions ahead of time. This allows her to avoid being put on the spot and makes her feel more comfortable during discussions.

Eleanor’s experience shows us that being an introvert in a field that values networking isn’t a setback. Instead, it’s about discovering the strategies that work best for you, allowing for meaningful, manageable, and beneficial connections.

Collaborative Networking for Value Creation in the Treasury World

Guillaume asks a critical question: how can different stakeholders in the treasury world, such as banks, system vendors, associations, and consultants, collaborate and network to add more value to their clients?

Eleanor’s response offers insights into the increasing trend of partnerships within the treasury world. This extends from formal arrangements with fintech and banks to informal collaborations like treasury think tanks. She emphasizes that collaboration is becoming a two-way process, yet it remains compartmentalized. Eleanor suggests that deeper collaboration, setting aside rivalries for the profession’s good, could bring about beneficial changes.

Here are the key points of Eleanor’s viewpoint:

  • Partnerships and Collaboration: Eleanor observes a growing trend in forming partnerships, both formal and informal, within the treasury world. This involves fintech, banks, think tanks, and other entities.
  • The Desire for Deeper Collaboration: Eleanor feels these are compartmentalized despite the growing collaborations. She sees potential for more profound collaboration and even sets aside competitive rivalries for the greater good of the treasury profession.
  • KYC Coordination: KYC or “Know Your Customer” is an area that could benefit greatly from increased cooperation. Eleanor points out that treasurers often wish for better coordination between banks in this area, as the process is cumbersome and lacks standardization.

To bring this vision to life, Eleanor suggests a “gloves off” approach—creating a safe environment where candid conversations can occur without fear of upsetting anyone. The goal is finding common ground, sharing concerns, and working towards solutions.

One of the pain points in the conversation is the issue of “Know Your Customer” (KYC) procedures. Guillaume and Hussam further discuss this, with Eleanor explaining that banks go through KYC when onboarding a client. This involves the provision of ID, bank signatories, authorizing payments, and more.

A key problem with KYC procedures is that they vary from bank to bank, making the process tedious for treasurers. They must provide different documents to different banks, sometimes multiple times to the same bank. Updating information, especially when a signatory leaves, adds to the complexity.

Eleanor acknowledges that fintech, such as CoorpID, is making inroads into this space, aiming to make things easier. However, this innovation requires more backing from other banks to gain momentum and make a significant impact.

How is TMI Facilitating Communication and Trust Among Stakeholders in the Treasury World?

The world of treasury is large and diverse, involving several stakeholders, including banks, corporations, and various financial institutions. In such an ecosystem, establishing open lines of communication and fostering trust can be daunting. Yet, it’s essential for smoother transactions and efficient working relationships. Eleanor shares insights on how Treasury Management International (TMI), an independent body, takes on an intermediary role in this process.

TMI prides itself on its neutrality and ability to engage global treasury stakeholders. By acting as a middleman, they can provide crucial feedback to banks regarding their services. This feedback comes from anonymous issues and experiences shared by their corporate clientele.

For instance, TMI has played a key role in bringing to light the challenges of the Know Your Customer (KYC) process. In one case, they alerted a bank about losing business due to their cumbersome KYC process, encouraging them to improve their service. This unbiased position, coupled with their ability to anonymize client information, allows TMI to facilitate conversations between players in the treasury sector and help improve their services.

Building Trust with Stakeholders

Trust is vital in any business, and in the treasury world, it’s no different. TMI has earned its trusted status through quality content, privacy assurance, and strict policies against promoting overbearing sales pitches.

To establish and maintain trust, Eleanor explains, TMI focuses on what’s happening in the industry and how they can improve the profession rather than gossip or sensationalized stories. Quality of content is of utmost importance to them. Furthermore, TMI ensures clients are comfortable with quotes or mentions before publication. This respectful and professional approach has given TMI a unique position of trust among its stakeholders.

Eleanor also addresses the issue of biased sales content. While they occasionally feature partner content, Eleanor firmly rejects pieces that are pure sales pitches. The focus is always on providing valuable, informative content to their readership.

The above practice further strengthens TMI’s reliable and trustworthy platform position. By placing the interests of their readers first and foremost, TMI has established a reputation as a trusted source of information in the treasury world.

Trust Among Stakeholders in Treasury Management
Photo by Kampus Production on Pexels

Towards the end of the conversation, Eleanor shows a keen interest in learning about other perspectives and strategies for building treasury networks, inviting others to share their insights. This attitude further demonstrates TMI’s commitment to facilitating conversations and driving improvements in the treasury sector.

Building Your Network Through a Podcast

Launching a podcast is a powerful way to establish a professional network in the treasury world. This isn’t just about having fun with a new project; it has real benefits. For instance, Guillaume and Hussam began their podcast as treasury enthusiasts and ended up interacting with influential figures in the industry. With every episode, they expanded their network and credibility. Podcasts are also a great way to share knowledge and insights about treasury, making them a valuable source of information for others in the field.

The Power of Free Content

Offering your podcast or other types of content for free can be a game-changer in building your network. People perceive you as a credible and authoritative source when you give value without expecting anything in return. It’s not about flaunting your knowledge but about generously sharing what you know and helping others. Guillaume and Hussam’s free podcast allowed them to connect with treasury professionals and offer value without cost.

Networking Beyond Professional Talk

You don’t always have to discuss treasury or professional topics when networking. Hussam suggests an approach contrary to this – he recommends starting conversations about anything but treasury with the first few people you interact with. Offering someone a biscuit or saying hello can break the ice and make initial interactions more comfortable. This tactic helps lessen anxiety, especially for those who may not be natural extroverts.

The Art of Giving Before Taking

Building a successful network isn’t only about receiving; it’s equally about giving. Hussam emphasizes the importance of offering help before expecting anything in return. You can offer to do work for free, connect people, or be generous with your knowledge and insights. This approach can result in positive outcomes, exemplified by Mike Richard from the Treasury Recruitment Company, who consistently referred people to their podcasts, expecting nothing in return.

The Value of Genuine Connections

Finally, networking is not all about who you know but how well you know them. Genuine connections come from finding common ground. Even if that common ground isn’t related to the treasury – perhaps a mutual interest in dogs – it can still form the basis of a meaningful professional relationship. It’s these genuine connections that can help your network grow and flourish. After all, building a network is about more than professional gain; it’s about forging relationships based on mutual understanding and respect.

How Do Treasury Associations Work, and What Role Do They Play in the Treasury World?

Treasury associations are an integral part of the treasury profession. They serve a pivotal role in connecting treasury professionals across regions and countries and shaping the future of treasury in their respective territories.

The Unsung Heroes Behind Treasury Associations

Behind every successful treasury association is a dedicated team that manages its operations. These people often juggle their day jobs and association responsibilities, striving tirelessly to elevate treasury as a recognized profession in their countries. They organize exams, facilitate knowledge sharing, and plan networking events—all to strengthen the treasury community and nurture its future growth. Their contribution is significant and deserves recognition.

The Rich Spectrum of Treasury Associations

A variety of treasury associations operate across the world. Examples include the European Association of Corporate Treasurers (EACT), Association Trésoriers d’Entreprise en Belgique (ATEB), and much more spread across Ireland, Austria, Japan, Greece, South Africa, etc. These associations, while unique, share common goals:

  1. Knowledge Sharing: They organize events such as ‘tea talks,’ where tech companies can engage with treasurers. These talks provide insights into current technologies and future trends in a non-sales environment.
  2. Regulatory Lobbying: At the European level, associations engage with regulators to discuss potential regulatory impacts on the treasury and the wider economy.
  3. Networking: Treasury associations offer platforms for professionals to connect, share knowledge, and form relationships.

How Can You Join a Treasury Association?

The criteria for joining treasury associations vary. However, most associations have membership criteria and associated costs outlined on their websites. Generally, you need to be a treasury professional to qualify for membership.

How does TMI Support EACP and Other Treasury Associations?

Hussam and Eleanor discuss how TMI (Treasury Management International) works with EACP (European Association of Corporate Treasurers) and other treasury associations in this section.

TMI’s Role in Supporting Treasury Associations

Eleanor explains that TMI is the official publisher for EACP, helping them with various events throughout the year. Furthermore, they support all the treasury associations under the EACP banner. This assistance ranges from administrative support to partnerships focused on publications.

For example, TMI offers practical support for the South African Association by publishing for them and helping other National Treasury Associations (NTAs) with event organization. They also help set up activities for these associations, aiding in developing their internal administrative skills. TMI’s work reflects the rise of new NTAs, as seen in countries like Japan and Korea.

TMI’s Impactful Initiatives and Events

Eleanor mentions a few standout projects and events TMI has worked on. For instance, they had an IACT (Irish Association of Corporate Treasurers) conference in Dublin. One memorable session discussed ESG (Environmental, Social, and Governance) in a very open and real way, providing value to treasurers who may need to engage with ESG issues.

However, the EACT summit is TMI’s primary collaborative event of the year, where all the NTAs come together for various cybersecurity, trade finance, and innovation presentations. Eleanor shares her interest in ESG, which stemmed from her previous work in private wealth management, and she is looking forward to conducting another session on this topic at the summit.

Views on the Rising Importance of Treasury

Guillaume and Hussam both agree that the treasury field is gaining importance. The treasury’s strategic value increases as cash and related data become more crucial, especially during economic recessions. Collaboration between various players – including associations, banks, vendors, and media companies – is beneficial in this context. They mention potential areas of focus, like cryptocurrencies and AI, and emphasize the value of shared knowledge.

Guillaume and Hussam believe their podcast can help attract new talent to the treasury, which they acknowledge is often seen as not “sexy” enough. They hope their content can introduce treasury to newer generations in an engaging format.

Eleanor brings up the idea of a treasury-focused TikTok account to reach a broader audience. Guillaume and Hussam agree that such innovative methods could inspire curiosity and attract interest in the treasury field.

The Importance of Well-being in Treasury

Eleanor emphasizes the need for well-being and mental health in the treasury profession. Given the significant changes and growing demands in the field, she expresses concern about potential burnout among treasurers and advises them to pay attention to their mental health. To conclude, Eleanor recommends the TMI website: treasury-management.com for anyone interested in learning more about their work or contacting her. She also encourages people to connect with her on LinkedIn.

Wrapping It Up

In conclusion, the field of treasury management is ever-evolving. With changes in technology, increased awareness about mental health, and a growing need for innovative ways to engage with the younger generation, the profession is rising to meet these challenges.

Key takeaways from our discussion include:

  1. Embracing Innovation: As treasurers explore AI and blockchain, they open doors to efficiency and precision in their field. This also brings in the pressing need for education, ensuring professionals can keep up with these advancements.
  2. Fostering Collaboration: With TMI’s strong partnerships with treasury associations, there’s more room for collaboration, exchange of ideas, and mutual growth.
  3. Engaging with ESG: As ESG gains prominence, treasurers need to understand its implications on their roles and the value they can add.
  4. Reaching Out to Younger Generations: To build the next generation of treasury professionals, we must think creatively about reaching out to younger audiences. This could involve using platforms they’re familiar with, like podcasts or even TikTok.
  5. Prioritizing Well-Being: In a fast-paced and demanding environment, treasurers must prioritize their mental health and avoid burnout.

As we move forward, these insights will play a significant role in shaping the future of treasury management. So let’s continue to learn, adapt, and innovate as we embrace the changing landscape of this fascinating field.

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