As globalisation and financial sophistication have increased over the past 30 years, the role of the treasurer has taken on new meaning, catering to the liquidity and financial risk management requirements of multinational and large domestic companies. Despite this, few people would have been able to describe what role treasury fulfilled in their business until the end of 2008. Since then, treasury’s profile has increased enormously, as company boards have sought reassurance that their companies do not have excessive exposure to financial risks and that liquidity channels remain open.
However, as all treasury professionals are well aware, treasury does not exist simply as protection against the elements, but it has a valuable role to play in good times and bad. While the crisis may have elevated the profile of treasury at a senior level in the organisation, treasurers themselves need to raise awareness, and demonstrate how they can add value more widely across the business.
Trevor JonesAssistant Treasurer