1. Peter Matza Engagement Director Roshun Tulkens MCT International Treasury Manager, Reckitt Benckiser The Contemporary Treasurer
GTR Mena Trade Finance Week February 2016

2. As a Chartered professional and global body the ACT has two primary concerns
to advance the interests of its members, students and the corporate treasury community
to enhance the understanding and appreciation of corporate treasury as a discipline in financial and business management.

3. What is corporate treasury?
The international business of strategic financial management
So let’s define Corp treasury...
It is the interface between the company and financial markets
It deals with right now and with the future, grounded in cash
Cf Accounting perspective - usually deals with the past, grounded in accruals-based accounting standards
Each complements the other – hence Accounting & Finance…
Every business everywhere does Corporate treasury – even you…
Your personal strategy – get a degree, lever on that degree to get a job, career…
How do I fund that? Student Loan? Bank of Daddy? Part time, vac work? Etc
How do I control the risks? Eg run out of money; don’t get a 2.1 or above; hate my course; can’t get a job; can’t repay my Student Loan, parents etc. Foreign students – more complexities due to currency, overseas etc.
Now we’ve defined corp treas – where does it sit in the organisation?
How do we decide what to invest in?
How do we raise the money to make those investments?
How do we control the risks in the organisation?

5. Treasury Competency
Technical Skills
Business Skills
Behavioural Skills

6. Treasury Competencies
Technical skill
E.g. Financial risk management, treasury operations, governance
Behavioural skills
Influencing capability
Business skills
Knowledge and information management
Roshun, comments?

7. Strategic challenges
Treasurers are involved in bringing together financial strategy and business strategy to form corporate strategy
At the strategic level, treasury is about advising on appropriate choices, the trade-offs and compromises involved
Treasurers need to demonstrate the skills and capabilities needed to operate successfully in today’s business environment

8. The dimensions of treasury
Centralised / de-centralised
Head Office / regional treasury centre
Industry sector / size of business
Level of international versus domestic business
Divisional structure / closeness to operations
domicile / currency
Corporate culture
Cost centre / profit centre / value add
Life cycle / stage of development

9. Treasurer role expanded
Enterprise risk
Commodity risk
Insurance
Tax
Mergers & Acquisitions
Investor relations
Real estate
Pensions
Corporate strategy

10. Treasury design In house banking likely to be more difficult
Skill set will change
Less factory like, more boutique
Risk management more sophisticated
Less automatic use of derivatives
More use of regional / local treasuries & facilities
More supply chain finance
More relationships
Banks, investors, 3rd party funders (e.g. ECAs / Credit insurers), exchanges

11. Who does a treasurer talk to?
CEO / Board
CFO
Senior Finance – Tax, Sales, Procurement
Other finance / sub cos
Banks, other credit providers
Audit – internal / external
Investors – with IR (many ignore DCM)
Roshun, comments?

12. Treasury challenges Financial services relationships changing
Traditional financing options scarcer, new options more diverse
Risk factors prominent
Concerns especially around counterparty risk - ‘KYB / KYC’ – who am I doing business with?
Financial services regulation

13. Questions for the treasurer/finance team, Peter Matza and Roshun Tulkens
What is the organisation’s strategy?
What is the mix between business and financial risk?
What is your financial strategy?
Liquidity, shareholder returns, counterparty risk,ratings, FX / interest rate risk
What is your approach to bank / service provider relationships and how do you assess performance?
What are your objectives?
What are you worried about?

14. Questions for the financial service provider, Peter Matza and Roshun Tulkens
What is your approach to relationship management?
How are you rewarded for dealing with me?
What are your strengths and weaknesses?
Should we really do this deal with you?
Who would you deal with if you were me?
Are you qualified?

15. How to get involved with the ACT
Visit the ACT’s website
Register online to receive ACT’s monthly e-newsletter
Follow the ACT on social media
Call the ACT today +44 (0)
Available on stand in Atrium to answer any questions and chat generally.