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Treasury assistant

Treasury assistant

Level 4 - Higher Technical Occupation

Supporting the accuracy of financial data and transactions to ensure that the corporate treasurer knows how much cash an organisation has and its use.

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Summary

This occupation is found in all corporate organisations that require oversight and management of their finances including cash management, loans, investments, foreign exchange transactions and risk management. Organisations that employ treasury assistant are typically medium to large organisations such as commercial entities, financial institutions, public bodies and third sector organisations. Accountancy firms may employ treasury assistants to support corporate treasurers to perform activities on behalf of their clients within their clients' businesses and organisations. Companies may employ treasury assistants to support their own corporate treasurers to perform treasury activities within the business. In the public sector a treasury function will carry out treasury activities in organisations such as central government departments, local authorities, regulators and higher education institutions. Treasury assistants are qualified and recognised by the Association of Corporate Treasurers (ACT) and carry out their activities under supervisions of corporate Treasurers.

The broad purpose of the occupation is to support the corporate treasurer within the treasury function. they carry out routine activities under supervision. Activities may include ensuring that financial data is accurate to ensure that the corporate treasurer knows how much cash the organisation has and how it is being used. Treasury assistants support and carry out the collection and recording of data from financial transactions. They contribute to the creation of high quality data reports and recording regimes. They use digital tools such as treasury management software to collate and organise data, manage personal workflow and ensure that their work supports the organisations policies, procedures and objectives. They may collate and report on data such as cash receipts, payments, transfers, deposits, loan drawdowns and foreign exchange deals. A treasury assistant follows rules, controls and reporting strategies devised by others. They support change through continuous process improvements such as areas suitable for re-engineering cash management processes They seek advice from subject matter experts on treasury matters. They are often the initial contact point for stakeholders for appropriate support and can assist with routine queries. They work within a culture of compliance and risk awareness and may be directed by others to consider sustainability and green finance principles.

In their daily work, an employee in this occupation interacts with peers, corporate treasurers, wider finance team members, accountants, senior leaders, auditors and financial institutions.

An employee in this occupation will be responsible for managing their personal workload of day to day work within the treasury function team.

Typical job titles include:

Cash manager
Finance officer
Treasury analyst
Treasury assistant
Treasury dealer
Treasury officer

Keywords:

Accounting
Finance
Financial Data
Money
Treasury Assistant

Knowledge, skills and behaviours (KSBs)

K1: The role of the corporate treasury function, including treasury policies and structures.
K2: Principles of day-to-day cash management.
K3: Principles of cashflows and forecasting.
K4: Principles of cash balances, currencies, and locations.
K5: Principles of interest rates, yields and yield curves, and the relevant calculations.
K6: The features, participants, and conventions of the foreign exchange (FX) market.
K7: The principles of liquidity, and working capital.
K8: Investment and borrowing solutions.
K9: Capital structures and calculating the cost of capital, using a range of appropriate practical models and techniques.
K10: Principles of data analysis and financial reporting.
K11: The digital tools and technology used to deliver financial and treasury activities safely and securely within their scope of practice.
K12: Approaches to identifying financial risks, reporting and the key risks that organisations face.
K13: Types of misstatement, error, and fraud, and approaches to preventing, identifying, and mitigating them.
K14: Principles of financial reporting and tax, and their implications for treasury transactions and planning.
K15: Corporate governance, regulatory controls and policies apply to treasury and the importance of ensuring ethical behaviour.
K16: Communication techniques, methods, and the importance of adapting communication style to facilitate understanding for financial and non-financial stakeholders, for example, active listening, team communications, diversity and inclusion considerations.
K17: Principles of data security including the consequences and impacts of non-compliance.
K18: Principles of workload management to plan, organise and prioritise own tasks and manage time effectively.
K19: Importance of professional development for professional practice by keeping up to date with the latest legislation, releases from standard setters, the latest advances in, and applications of, digital technology as applicable to treasury and finance and guidance from regulatory bodies.
K20: Approaches to building and maintaining collaborative, professional relationships with internal and external stakeholders.

S1: Comply with relevant laws and regulations when undertaking Treasury activities.
S2: Manage day to day cash transactions including looking for misstatements and errors.
S3: Securely maintain records of actual cashflows against forecast cashflows.
S4: Record and manage cash balances, currencies, and locations of cash.
S5: Implementation of financial calculations in treasury including the calculation of interest rates.
S6: Support the management of financial risks and reporting including cashflow forecasting.
S7: Undertake data analysis to inform the content of financial reports.
S8: Communicate treasury information to technical and non-technical stakeholders using language appropriate to the audience including verbal and written, in line with organisational expectations.
S9: Use digital tools and technology to deliver financial and treasury activities safely and securely.
S10: Comply with organisational policies on data handling, including when managing and storing treasury data safely and securely.
S11: Build and maintain collaborative, professional relationships with internal and external stakeholders to deliver treasury outcomes.
S12: Use workload management principles to plan, organise and prioritise own tasks and manage time effectively such as bank cut-offs and period end processes.
S13: Build and maintain collaborative, professional relationships with internal and external stakeholders to enhance delivery

B1: Acts with a diligent attention to detail that strives for completeness and accuracy.
B2: Applies professional judgement that complies with ethical and organisational standards and policies when suggesting courses of action.
B3: Demonstrates professional scepticism with a questioning mind, critically assesses and alert to conditions which may indicate a possible misstatement due to error or fraud.
B4: Works collaboratively with others across the organisation and stakeholders.
B5: Displays a growth mindset and uses own initiative, learning from failures and spotting opportunities when seeking solutions to organisational needs.
B6: Works flexibly and adapts to changing circumstances or environments, including responding positively to challenges, setbacks and feedback.

Duties

Duty D1

manage the day to day cash management of an organisation under supervision.

Duty D2

maintain records of actual cashflows against forecast cashflows supporting the long-term strategy of the business.

Duty D3

review, as instructed, the position of cash balances, currencies and locations to meet organisational needs.

Duty D4

support the treasury team in managing financial risks and reporting on them to support organisational strategy.

Duty D5

prepare data analysis and financial reports under supervision concerning the financial risks within an organisation to support senior leaders in risk management and decision making.

Duty D6

support stakeholders with queries concerning treasury matters and escalating to subject matter experts and corporate treasurer as needed.

Duty D7

assist in the communication of treasury information to technical and non-technical stakeholders.

Duty D8

use digital tools and technology to deliver financial and treasury activities.

Duty D9

deliver against individual and team performance measures.

Duty D10

undertake all treasury activities by reference to professional ethics, organisational standards and policies.