Bank treasurer

Bank treasurers oversee all aspects of the financial management of a bank. They manage the liquidity and solvency of the bank. They manage and present current budgets, revise financial forecasts, prepare accounts for audit, manage the bank’s accounts and maintain accurate record-keeping of financial documentation.

Bank treasurers typically do the following:

• Track and monitor financial operations of a bank.
• Develop strategies to raise funds for the bank.
• Create logistics and functionalities for the bank to grow.
• Design and initiate banking products and services to attract customers.
• Ensure effective marketing strategies for banking products and services.
• Assist and support the management and the banking staff in building customer relationships.
• Ensure compliance of state, federal and banking laws and regulations.
• Review and assess risks that arise in banking functionalities and activities.
• Monitor and manage all investments.
• Monitor and manage customer deposits.
• Make appropriate recommendations to the top management and the board of directors of a bank.

Bank treasurers work in the financial sector of banks or insurance companies. They work in clean, well-lit offices and usually work regular business hours. However, they may be required to work overtime during busy periods, such as the end of the fiscal year or the end of the quarter, when the bank is preparing for an audit, or when the financial markets are volatile.

Bank treasurers usually work with the CEO and other members of the executive team of the bank to develop and implement financial strategy. They also work with the board of directors to ensure that the bank’s financial goals are met. Their responsibility include the financial planning and budgeting of the bank. They also oversee the investment portfolio and the risk management strategy.

Bank treasurers work closely with the auditors to ensure that the financial statements are accurate. They also work with other banks and financial institutions to secure the best terms for the organization.

Bank treasurers need to have a strong understanding of financial principles and be able to analyze complex financial data. They must be able to pay close attention to detail and be able to work well under pressure.

The following job titles also refer to bank treasurer:

treasury clerk
financial institution treasurer
senior treasury analyst
Chief Financial Officers
treasury clerks
treasurer and financial controller
treasurer and finances controllers
bank treasurers
deputy bank treasurer

A bachelor’s degree in accounting, finance, or business administration is often the minimum educational requirement. However, for such roles, and due to the high competition, a master of business administration (MBA) with a concentration in finance, or a master or finance are recommended.

It is to be noted that bank treasurer is not an entry-level role. Many treasurers start out in entry-level positions, such as bank teller, and are promoted to managerial-level positions after demonstrating their communication, analytic and customer service skills.

Some employers may also require potential candidates to provide a professional certification. For example, the CFA Institute offers a Chartered Financial Analyst designation to financial professionals who have work experience and a bachelor’s degree and can pass three skills assessment exams.

ISCO skill level is defined as a function of the complexity and range of tasks and duties to be performed in an occupation. It is measured on a scale from 1 to 4, with 1 the lowest level and 4 the highest, by considering:

• the nature of the work performed in an occupation in relation to the characteristic tasks and duties
• the level of formal education required for competent performance of the tasks and duties involved and
• the amount of informal on-the-job training and/or previous experience in a related occupation required for competent performance of these tasks and duties.

Bank treasurer is a Skill level 4 occupation.

These occupations, although different, require a lot of knowledge and skills similar to bank treasurer.

corporate banking manager
investment manager
banking products manager
investment fund management assistant
relationship banking manager

Bank treasurer is one of the highest positions available in a bank. No or few promotions exist from that position.

This knowledge should be acquired through learning to fulfill the role of bank treasurer.

• Financial statements: The set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.
• Financial management: The field of finance that concerns the practical process analysis and tools for designating financial resources. It encompasses the structure of businesses, the investment sources, and the value increase of corporations due to managerial decision-making.
• Corporate social responsibility: The handling or managing of business processes in a responsible and ethical manner considering the economic responsibility towards shareholders as equally important as the responsibility towards environmental and social stakeholders.
• Accounting techniques: The techniques of recording and summarising business and financial transactions and analysing, verifying, and reporting the results.
• Economics: Economic principles and practices, financial and commodity markets, banking and the analysis of financial data.
• Financial analysis: The process of assessing the financial possibilities, means, and status of an organisation or individual by analysing financial statements and reports in order to make well informed business or financial decisions.
• Accounting: The documentation and processing of data regarding financial activities.

These skills are necessary for the role of bank treasurer.

• Trace financial transactions: Observe, track and analyse financial transactions made in companies or in banks. Determine the validity of the transaction and check for suspicious or high-risk transactions in order to avoid mismanagement.
• Manage budgets: Plan, monitor and report on the budget.
• Enforce financial policies: Read, understand, and enforce the abidance of the financial policies of the company in regards with all the fiscal and accounting proceedings of the organisation.
• Analyse market financial trends: Monitor and forecast the tendencies of a financial market to move in a particular direction over time.
• Strive for company growth: Develop strategies and plans aiming at achieving a sustained company growth, be the company self-owned or somebody else’s. Strive with actions to increase revenues and positive cash flows.
• Prepare financial auditing reports: Compile information on audit findings of financial statements and financial management in order to prepare reports, point out improvement possibilities, and confirm governability.
• Create a financial plan: Develop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.
• Maintain records of financial transactions: Collate all the financial transactions done in the daily operations of a business and record them in their respective accounts.
• Evaluate budgets: Read budget plans, analyse the expenditures and incomes planned during certain period, and provide judgement on their abidance to the general plans of the company or organism.
• Advise on financial matters: Consult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.
• Conduct financial audits: Evaluate and monitor the financial health, the operations and financial movements expressed in the financial statements of the company. Revise the financial records to ensure stewardship and governability.
• Analyse financial performance of a company: Analyse the performance of the company in financial matters in order to identify improvement actions that could increase profit, based on accounts, records, financial statements and external information of the market.
• Plan health and safety procedures: Set up procedures for maintaining and improving health and safety in the workplace.
• Manage accounts: Manage the accounts and financial activities of an organisation, supervising that all the documents are correctly maintained, that all the information and calculations are correct, and that proper decisions are being made.
• Liaise with managers: Liaise with managers of other departments ensuring effective service and communication, i.e. sales, planning, purchasing, trading, distribution and technical.
• Follow company standards: Lead and manage according to the organisation’s code of conduct.
• Handle financial transactions: Administer currencies, financial exchange activities, deposits as well as company and voucher payments. Prepare and manage guest accounts and take payments by cash, credit card and debit card.
• Maintain financial records: Keep track of and finalise all formal documents representing the financial transactions of a business or project.

This knowledge is sometimes, but not always, required for the role of bank treasurer. However, mastering this knowledge allows you to have more opportunities for career development.

• Financial products: The different types of instruments that apply to the management of cash flow that are available on the market, such as shares, bonds, options or funds.
• Banking activities: The broad and continuously growing banking activities and financial products managed by banks ranging from personal banking, corporate banking, investment banking, private banking, up to insurance, foreign exchange trading, commodity trading, trading in equities, futures and options trading.
• Financial forecasting: The tool used in performing fiscal financial management to identify revenue trends and estimated financial conditions.
• Securities: The financial instruments traded in financial markets representing both the right of property over the owner and at the same time, the obligation of payment over the issuer. The aim of securities which is raising capital and hedging risk in financial markets.
• Liquidity management: The theory and practices around the management of liquidity in a company with the aim of facilitating meeting obligations with thirds parties without compromising the smooth functioning of the company nor incurring in substantial losses.
• Statistics: The study of statistical theory, methods and practices such as collection, organisation, analysis, interpretation and presentation of data. It deals with all aspects of data including the planning of data collection in terms of the design of surveys and experiments in order to forecast and plan work-related activities.
• Financial markets: The financial infrastructure which permits trading securities offered by companies and individuals govern by regulatory financial frameworks.
• Investment analysis: The methods and tools for analysis of an investment compared to its potential return. Identification and calculation of profitability ratio and financial indicators in relation to associated risks to guide decision on investment.
• Tax legislation: Tax legislation applicable to a specific area of specialisation, such as import tax, government tax, etc.
• Financial jurisdiction: Financial rules and procedures applicable to a certain location, whose regulatory bodies decide on its jurisdiction

These skills and competences are sometimes, but not always, required for the role of bank treasurer. However, mastering these skills and competences allows you to have more opportunities for career development.

• Produce statistical financial records: Review and analyse individual and company financial data in order to produce statistical reports or records.
• Maintain relationship with customers: Build a lasting and meaningful relationship with customers in order to ensure satisfaction and fidelity by providing accurate and friendly advice and support, by delivering quality products and services and by supplying after-sales information and service.
• Synthesise financial information: Collect, revise and put together financial information coming from different sources or departments in order to create a document with unified financial accounts or plans.
• Check accounting records: Revise the accounting records of the quarter and year and ensure that the accounting information reflects with accuracy the financial transactions of the company.
• Manage corporate bank accounts: Have an overview of the bank accounts of the company, their different purposes, and manage them accordingly while keeping an eye on their balance, interest rates, and charges.
• Communicate with banking professionals: Communicate with professionals in the field of banking in order to obtain information on a specific financial case or project for personal or business purposes, or on behalf of a client.
• Obtain financial information: Gather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.
• Present reports: Display results, statistics and conclusions to an audience in a transparent and straightforward way.
• Create a financial report: Finalise project accounting. Prepare an actual budget, compare the discrepancy between the planned and actual budget, and draw final conclusions.
• Develop audit plan: Define all organisational tasks (time, place and order) and develop a checklist concerning the topics to be audited.

1211 – Finance managers

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References

1. ESCO
2. U.S. Bureau of Labor Statistics
3. List of Bank Treasurer Responsibilities and Duties – Great Sample Resume
4. Bank Treasurer: Job Description and Education Requirements – Best Accredited Colleges
5. Featured image: By Ministry of Finance (GODL-India), GODL-India