Education: A must for the Future of the Treasury Community

 

Everyone knows that Treasury responsibilities include cash management, corporate finance and financial risk management. However, when we have a more investigative look, we realize that the Treasury function is covering also a range of additional tasks requiring more skills than the ones originally necessary. The Corporate Treasurer is more and more involved with strategic, key, often complex responsibilities within the Company.

 

Another finding is that today, it is difficult for an enterprise, whatever its size, to recruit young treasury professionals. Indeed, with the exception of two or three Masters in Treasury programs provided by some High Schools and Universities in France, the general offer in high value Treasury Education is extremely poor in the France/Benelux region. This creates the need for those companies hiring new resources to fill their vacancies in their treasury team to opt for internal, hands on training, with the risk of concentrating the teaching on some specific topics.

 

Another thought which comes in mind when looking at this problematic of “New Generation of Treasurers” is the predictable shortage of valuable candidates willing to embark on a treasury career. In addition to the continuous increase of new regulations impacting one way or another the corporate treasury world, the Brexit which will induce the relocation of a number of financial and treasury functions to countries such as Luxembourg, and the new technologies and solutions surging in mass in the treasury landscape, we have to cope with a certain gap going to be created in many treasury teams, as the majority of highly experienced senior professionals are going to retire in five to ten years from now.

 

"ATEL and the House of Training believe that this program will fill a gap, long time identified in the Region, and will help promoting Luxembourg as a place to be for Treasury Activities!" - Patrick Verspecht, Treasury consultant, FinMetrics Belgium

 

ATEL in cooperation with the House of Training (Chamber of Commerce of Luxembourg) has initiated a new project which has as clear objective to provide an in-depth treasury cursus adapted to the today’s requirements of the Treasury Community. The targeted audience is not only the young finance professional freshly graduated, but also any one wishing to enlarge their knowledge in treasury or looking for a refresh of his expertise. 

 

While it is still too early to publish an exhaustive content and agenda, here are some explanations on how it would work. 

There will be several modules, such as, naturally, Cash Management, Corporate Finance and Risk Management, but also Regulations, Trade Finance, Treasury Accounting overview, Advanced Excel for treasurers & Financial Maths, Technologies, Cyber Fraud, Pension, Insurances. Some of the modules would be optional. 

The training language will be English. 

Modules would be split into sessions of half day or full day (most probably a mix of both). 

The length of this cursus will reach between 13 and 15 days equivalent, split around 4 to 6 months (still to be confirmed). There will be homework and coaching.

The trainers will be approved by both ATEL and the House of Training and will be a mix of Academics and Professionals.

There will be a good balance between “ex-cathedra” teaching and analysis of real business cases.

A final document will attest the successful completion of all the mandatory modules, and we strongly believe that its value will quickly be recognized by the treasurers community.

This new Treasury Education Program is expected to start in the first quarter of 2019 and will be held in the building of the Chamber of Commerce in Luxembourg. 

 

ATEL and the House of Training believe that this program will fill a gap, long time identified in the Region, and will help promoting Luxembourg as a place to be for Treasury Activities!