What is the Treasury function in a company

No matter the size of the business, an efficient, effective, and highly competent Treasury function is essential to the financial health, viability, and success of the organisation.

The Treasury function is responsible for effectively managing the financial resources of a business, so they can meet their obligations and achieve their goals. This involves strategic thinking, technical ability and a solid understanding of financial management and compliance.

For jobseekers in Singapore, the roles on offer range from entry level to board level, with the varied day-to-day tasks and responsibilities providing a rewarding career path.

Whether you are a recent graduate in Singapore looking to establish yourself in this area of finance, or you’re already working within Treasury and would like to explore your options for progression, in this article we share insights and tips to help you get started.

What is the Treasury function in a company?

The Treasury function is responsible for the strategic management of the organisation’s finances, alongside risk management and compliance.

This involves:

• Planning, advising and executing financial strategies to meet the company’s objectives and financial obligations, with internal and external risk analysis and management being an essential part of this
• Understanding compliance regulations and legal requirements, with the Treasury function playing an important role in maintaining the necessary records and making sound decisions to ensure compliance.

The type and scope of Treasury roles within each business depends on the size of the company. Large multi-nationals and government agencies in Singapore are likely to be guided by a team, while smaller businesses may have a standalone role, or allocate tasks to various employees within the finance team.

Why is Treasury an important finance department?

To thrive and survive, organisations need liquidity in cash flow to meet their outgoing obligations, and to purchase the products and resources they need to operate and grow.

The treasury department is in place to plan and execute strategies to make this happen, and to provide the business with the financial resources needed to achieve future goals.

To do this successfully they must analyse and manage risks to minimise losses and maximise gains and maintain detailed and accurate records to ensure all financial operations are complaint with the relevant legislations and standards.

Related: 6 interesting reasons to pursue a finance career in Singapore

What is driving demand for Treasury candidates in Singapore?

In an unsettled and unpredictable market, the need for effective financial management and planning takes on an even higher level of importance.

With rising costs, interrupted supply chains, and a myriad of other challenging circumstances plaguing industries in Singapore and across the globe, financial teams that are agile are proving to be a key factor in the success or otherwise of a business.

As a flow-on effect, Robert Half is seeing a noticeable increase in demand for Treasury candidates with the right skills, attributes and experience who can hit the ground running.

Related: Why is commercial acumen so important for a finance career?

3 tips on how to become a Treasury Officer in Singapore

Here are three tips on how to become a Treasury Officer in Singapore to help you take the first steps.

1. Mastering the right skills

The key skills you will need to be a successful Treasury Officer include a sound knowledge of the financial landscape, a thorough understanding of risk management and compliance, and a strategic mind.

Alongside this, excellent communication skills, an eye for detail, highly developed problem-solving skills, and an ability to work to deadlines and under pressure are all essential to the role.

2. Gaining experience

To secure a role in the Treasury function, you will require some relevant experience under your belt.

As a graduate, this can be gained through working as part of the finance team in a business, potentially starting in the engine room to build your skills and knowledge from the ground up.

Alternatively, larger organisations are often seeking graduate or entry-level candidates to work in support roles within the Treasury department, so talk to our team to find out about current opportunities.

3. Right qualifications

Holding a relevant degree such as accounting, economics, and finance, is a minimum for most Treasury Officer roles.

To set yourself apart from the competition, you may look at upskilling your qualification by undertaking a relevant accredited short course on a specialised subject related to the role.

Ready for a career in Treasury?

If you are ready to start or accelerate your career in the Treasury department, our experienced team of recruiters are ready to help.

Get in touch with us on +65 3158 0978 for expert advice, guidance and support that will help you secure an exciting role in Treasury.

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