Improving Operational Efficiency

Corporate treasury is one of those functions that quietly sits in the background of a company, until something goes wrong. When cash is tight, markets are volatile, or funding suddenly becomes an issue, treasury moves from invisible to critical very quickly.

At its core, corporate treasury is responsible for managing a company’s financial resources. That includes cash, liquidity, funding, and financial risks. It ensures the company can meet its obligations, operate smoothly, and support its strategic ambitions without running into financial trouble.

That sounds straightforward. It isn’t.

More Than Just Managing Cash

Treasury is often reduced to “managing cash.” Technically correct, but about as complete as saying a pilot “operates controls.”

In reality, treasury sits at the centre of financial decision-making. It connects daily operations with long-term strategy. It translates business activity into cash flow. It ensures that growth plans are financially sustainable.

Treasury answers questions like:

• Do we have enough cash to operate and invest? 
• Where is that cash, and can we access it when needed? 
• How exposed are we to currency or interest rate movements? 
• How should we finance our activities efficiently? 

These are not theoretical questions. They directly impact how a business performs.

The Position of Treasury in an Organisation

Treasury operates between multiple stakeholders.

Internally, it works with:

• Finance teams, including FP&A and accounting 
• Operations and procurement 
• Senior management and the CFO 

Externally, it interacts with:

• Banks and financial institutions 
• Investors and lenders 
• Regulators and auditors 

This positioning makes treasury a connector function. It brings together information from across the organisation and translates it into financial insight and action.

From Back Office to Strategic Function

Historically, treasury was seen as a back-office function. Focused on payments, bank accounts, and short-term liquidity.

That role has evolved.

Today, treasury is expected to:

• Support strategic decisions 
• Provide insight into financial risks 
• Optimise funding structures 
• Improve cash efficiency across the business 

In many organisations, treasury now plays a key role in enabling growth, managing uncertainty, and supporting long-term value creation.

Not everywhere, though. Some companies are still catching up.

The Complexity Behind the Role

Modern treasury operates in a complex environment:

• Multiple currencies and international operations 
• Volatile financial markets 
• Increasing regulatory requirements 
• Rapid technological change 

Managing cash across different countries, dealing with fluctuating exchange rates, ensuring compliance, and maintaining control over financial processes is not trivial.

It requires:

• Strong systems and data 
• Clear processes 
• Continuous coordination with other departments 

And a certain tolerance for things not always going according to plan.

Why Treasury Matters

Treasury does not generate revenue directly. That often leads to it being underestimated.

But its impact is significant:

• Poor liquidity management can disrupt operations 
• Weak risk management can erode margins 
• Inefficient structures can increase costs 
• Lack of planning can delay strategic initiatives 

On the other hand, a strong treasury function:

• Ensures stability 
• Reduces costs 
• Supports growth 
• Improves decision-making 

It doesn’t just protect the business. It enables it.

Treasury in Practice

In practice, treasury is a mix of:

• Operational tasks, such as payments and cash positioning 
• Analytical work, such as forecasting and risk assessment 
• Strategic involvement, such as funding and corporate planning 

No two days are exactly the same.

One moment you’re reviewing liquidity. The next, you’re discussing financing options. Then you’re dealing with a bank, fixing a data issue, or explaining why a forecast changed.

It’s structured, but never static.

Final Thought

Corporate treasury is often overlooked because it works best when nothing goes wrong.

But that’s exactly the point.

It ensures that the financial side of the business runs smoothly, even when everything else is changing.

Not bad for a function most people don’t actively choose, but tend to stay in once they understand it.

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Not all risks come from markets moving. Some come from people, institutions, or simply timing.

A customer doesn’t pay. A bank becomes less reliable. Cash is in the wrong place at the wrong time. None of this requires a crisis headline to hurt a company.

These are the risks treasury manages daily. Less visible than FX or interest rates, but often more immediate.

Credit Risk: When Money Owed Doesn’t Arrive

Credit risk is the risk that a counterparty, typically a customer or financial institution, fails to meet its obligations.

For treasury, this includes:

• Large customer exposures 
• Deposits placed with banks 
• Investments in short-term instruments 

The key questions:

• How much exposure do we have to a single counterparty? 
• How reliable are they? 
• What happens if they don’t pay? 

High concentration increases vulnerability. If one large counterparty fails, the impact can be significant.

Treasury monitors:

• Credit ratings 
• Exposure limits 
• Payment behaviour 
• Concentration levels 

Because the problem with credit risk is that it often looks fine… until it suddenly isn’t.

Counterparty Risk: Beyond Just Customers

Counterparty risk goes beyond customers. It includes:

• Banks holding deposits 
• Financial institutions involved in hedging 
• Partners in financial transactions 

Even large, well-known institutions are not risk-free. History has made that painfully clear.

Treasury manages this by:

• Diversifying across institutions 
• Setting exposure limits per counterparty 
• Monitoring creditworthiness regularly 
• Using collateral or netting agreements where applicable 

It’s not about assuming failure. It’s about not being overly exposed if it happens.

Liquidity Risk: The Timing Problem

Liquidity risk is one of the most fundamental risks in treasury.

It’s not about whether the company is profitable. It’s about whether it has cash available when needed.

A company can be profitable and still face liquidity stress if:

• Cash inflows are delayed 
• Outflows are poorly timed 
• Funding is not accessible 
• Cash is trapped in certain entities or countries 

Liquidity risk is about timing, access, and flexibility.

Managing Liquidity

Treasury ensures liquidity by:

• Maintaining accurate cash visibility 
• Forecasting inflows and outflows 
• Securing committed credit facilities 
• Holding liquidity buffers 
• Structuring cash centrally where possible 

The goal is not to hold as much cash as possible. It’s to have sufficient and accessible liquidity without excessive idle balances.

Finding that balance is where experience comes in.

Trapped Cash and Accessibility

Not all cash is equal.

Cash held in:

• Restricted jurisdictions 
• Entities with legal limitations 
• Structures without efficient transfer mechanisms 

May not be readily available.

Treasury needs to understand:

• Where cash is located 
• Whether it can be moved 
• How quickly it can be accessed 

Because cash that cannot be used when needed does not solve liquidity problems.

Concentration Risk

One of the recurring themes across credit, counterparty, and liquidity risk is concentration.

Too much exposure to:

• One customer 
• One bank 
• One region 
• One funding source 

Increases vulnerability.

Diversification reduces risk, but introduces complexity. Treasury balances both.

Early Warning Signals

These risks rarely appear out of nowhere.

Warning signs include:

• Deteriorating payment behaviour 
• Changes in credit ratings 
• Increasing reliance on short-term funding 
• Reduced liquidity buffers 
• Operational issues with banks or counterparties 

Treasury monitors these indicators to act early, not react late.

Where It Goes Wrong

Some familiar patterns:

• Overconcentration in a few counterparties 
• Lack of visibility into exposures 
• Assuming large institutions are always safe 
• Underestimating liquidity needs 
• Ignoring access restrictions on cash 

Most of these issues build gradually. Then become urgent very quickly.

Treasury’s Role

Treasury ensures the company:

• Knows who it is exposed to 
• Limits dependency where needed 
• Maintains access to liquidity 
• Can withstand disruptions 

These risks don’t usually get attention when everything is stable.

But when something goes wrong, they become the only thing that matters.

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Digital transformation in treasury sounds impressive. In reality, it’s mostly about fixing what’s already broken, removing manual work, and making sure data actually makes sense before someone tries to build dashboards on top of it.

It’s not a single project. It’s an ongoing shift in how treasury operates, uses data, and makes decisions.

What Digital Transformation Really Means

Strip away the buzzwords, and digital transformation in treasury comes down to:

• Moving from manual to automated processes 
• Replacing fragmented systems with integrated ones 
• Improving data quality and availability 
• Enabling faster and more reliable decision-making 

It’s less about innovation and more about efficiency, control, and scalability.

Which is slightly less exciting to say, but far more accurate.

Why Treasury Needs It

Treasury complexity has increased:

• More entities and bank accounts 
• More currencies and markets 
• Higher transaction volumes 
• Increased regulatory pressure 

Manual processes don’t scale with that.

Digital transformation allows treasury to:

• Handle complexity without increasing headcount endlessly 
• Reduce operational risk 
• Improve visibility and control 
• Free up time for more strategic activities 

Without it, treasury becomes reactive and overloaded.

The Starting Point: Process Before Technology

The biggest misconception is that digital transformation starts with tools.

It doesn’t.

It starts with:

• Understanding current processes (the “as-is”) 
• Identifying inefficiencies and pain points 
• Defining what “good” looks like 

Only then does technology make sense.

Otherwise, you automate broken processes and call it progress.

Key Areas of Transformation

Most treasury transformation efforts focus on:

• Cash visibility and positioning
  Automating bank data collection and consolidation 
• Payments and connectivity
  Standardising payment processes and integrating with banks 
• Cash flow forecasting
  Improving data inputs and reducing manual consolidation 
• Risk management
  Better tracking and analysis of exposures 
• Reporting and analytics
  Moving from static reports to dynamic dashboards 

Each area contributes to a more efficient and controlled treasury setup.

Automation as a Core Driver

Automation removes repetitive tasks:

• Manual data entry 
• File uploads and downloads 
• Reconciliation work 
• Basic reporting 

This reduces:

• Errors 
• Processing time 
• Dependency on individuals 

And creates space for:

• Analysis 
• Decision-making 
• Strategic input 

At least in theory. In practice, someone still needs to monitor everything.

Integration: Connecting the Ecosystem

Transformation requires systems to work together:

• ERP systems 
• TMS 
• Banks 
• Data platforms 

This involves:

• Standardised data formats 
• Reliable connectivity 
• Consistent data definitions 

Integration is where most of the effort sits. And where most timelines quietly expand.

Data Quality: The Unavoidable Reality

No transformation succeeds without good data.

Treasury needs:

• Accurate bank data 
• Clean master data 
• Reliable forecast inputs 
• Consistent definitions across systems 

Poor data leads to:

• Incorrect reporting 
• Misleading forecasts 
• Loss of trust in systems 

Which then leads people straight back to Excel.

Change Management: The Hidden Challenge

Transformation is not just technical. It’s organisational.

It requires:

• User adoption 
• Training 
• Clear communication 
• Ongoing support 

People need to:

• Understand the new processes 
• Trust the outputs 
• Actually use the systems 

Otherwise, the “new way of working” quietly becomes the old way plus extra steps.

Measuring Success

Transformation success is not measured by:

• Number of systems implemented 
• Budget spent 

It’s measured by:

• Reduced manual effort 
• Improved data quality 
• Faster and better decisions 
• Increased control and visibility 

If those don’t improve, the transformation didn’t really happen.

Where It Goes Wrong

Some recurring issues:

• Starting with technology instead of processes 
• Underestimating data challenges 
• Lack of stakeholder involvement 
• Overly ambitious scope 
• Ignoring user adoption 

Most failures are not technical. They’re practical.

Treasury’s Role in Transformation

Treasury defines what needs to change and why.

It ensures:

• Solutions match real needs 
• Processes are improved, not just digitised 
• Data becomes usable and reliable 
• Transformation delivers actual value 

Because at the end of the day, digital transformation is not about being “digital.”

It’s about making treasury work better.

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If treasury had a single job description, it would probably read: keep the company out of trouble while everyone else is trying to grow it.

Risk management sits at the core of that.

Companies operate in an environment full of uncertainty. Exchange rates move, interest rates shift, counterparties fail, liquidity tightens. None of this is hypothetical. It happens constantly.

Treasury doesn’t eliminate these risks. It identifies them, measures them, and decides which ones to accept, reduce, or hedge.

Because trying to eliminate all risk would mean not doing business at all. And that tends to upset people.

What Risk Management in Treasury Covers

Treasury focuses on financial risks, mainly:

• Foreign exchange (FX) risk 
• Interest rate risk 
• Liquidity risk 
• Counterparty and credit risk 

Each of these can impact cash flow, profitability, and financial stability.

Some risks are visible. Others sit quietly in the background until market conditions change.

The Objective: Control, Not Elimination

Risk management is not about avoiding risk completely.

It’s about:

• Understanding exposures 
• Defining acceptable levels of risk 
• Applying consistent policies 
• Avoiding surprises 

A company that takes no risk doesn’t grow. A company that ignores risk eventually learns the hard way.

Treasury sits in the middle of that tension.

Risk Identification: Knowing What You’re Exposed To

Before anything can be managed, it needs to be identified.

This sounds obvious. It’s often where things go wrong.

Treasury needs visibility into:

• Currency exposures from revenues and costs 
• Debt structures and interest rate sensitivity 
• Cash positions and funding needs 
• Counterparty exposures with banks and partners 

Incomplete data leads to incomplete understanding. And incomplete understanding leads to poor decisions.

Measurement and Monitoring

Once risks are identified, they need to be measured.

This can include:

• Sensitivity analysis (what happens if rates or FX move) 
• Scenario analysis (best case, worst case) 
• Value-at-risk or similar metrics 
• Ongoing monitoring of exposures and limits 

The goal is not to build complex models for the sake of it. It’s to create clarity around potential impact.

If you don’t know how big the problem could be, you can’t decide how to respond.

Policies and Governance

Risk management needs structure.

Treasury policies define:

• Which risks are managed and how 
• Hedging strategies and instruments 
• Approval processes and limits 
• Roles and responsibilities 

Without clear policies, decisions become inconsistent. One part of the business hedges aggressively, another doesn’t hedge at all, and treasury ends up trying to reconcile the outcomes.

Governance creates consistency. Consistency reduces surprises.

The Trade-Off: Cost vs Protection

Managing risk often comes at a cost.

Hedging has a price
Liquidity buffers reduce returns
Diversification can be less efficient

Treasury constantly evaluates:

• Is the cost of protection justified? 
• What is the impact if we do nothing? 

There is no universal answer. It depends on the company’s risk appetite and strategic priorities.

Integration with the Business

Risk does not originate in treasury. It originates in the business.

Sales creates FX exposure
Procurement creates currency and supplier risk
Financing decisions create interest rate exposure

Treasury needs to work closely with these functions to:

• Identify exposures early 
• Align on risk management approaches 
• Ensure policies are applied consistently 

Without this integration, treasury is always reacting instead of managing proactively.

Where It Goes Wrong

Some recurring issues:

• Lack of visibility into exposures 
• No clear risk policy or inconsistent application 
• Over-reliance on assumptions 
• Ignoring small risks until they become large 
• Treating risk management as a one-time exercise 

Most problems don’t come from complex risks. They come from basic things not being managed consistently.

Treasury’s Role in Risk Management

Treasury brings structure and discipline to uncertainty.

It ensures:

• Risks are identified and understood 
• Decisions are made consciously, not accidentally 
• Financial impact is assessed before actions are taken 
• The company can absorb shocks without destabilising 

It doesn’t remove uncertainty. It makes it manageable.

Which, given how unpredictable everything else is, is already doing quite a lot.

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Payments used to be straightforward. You had money, you sent it, done.

Now there are layers of regulation shaping how payments are initiated, authenticated, processed, and reported. Treasury sits right in the middle of this.

These frameworks are designed to make payments safer, more transparent, and more competitive. They also make them more complex.

Why Payments Are Regulated

Regulators focus on payments because they are:

• High volume 
• Cross-border 
• Prone to fraud and misuse 

The objectives are to:

• Increase security 
• Prevent fraud and financial crime 
• Improve transparency 
• Encourage competition and innovation 

For treasury, this means adapting processes to comply with evolving rules.

Key Payment Regulations

In Europe and beyond, treasury is impacted by frameworks such as:

• PSD2 and PSD3 (Payment Services Directive)
  Introducing stronger authentication, open banking, and increased transparency 
• SEPA regulations
  Standardising euro payments across participating countries 
• ISO20022 standards
  Defining structured payment data formats 
• Local payment regulations
  Country-specific rules on processing, reporting, and data 

Each of these influences how payments are executed and managed.

Strong Customer Authentication (SCA)

One of the most visible impacts of regulation is Strong Customer Authentication.

This requires:

• Multi-factor authentication 
• Additional verification steps for payment approval 

For treasury, this affects:

• Payment workflows 
• Approval processes 
• System configurations 

While it improves security, it can also:

• Slow down execution 
• Increase operational complexity 

Balancing security and efficiency becomes key.

Open Banking and APIs

Regulation has also driven innovation.

Open banking frameworks require banks to:

• Provide access to account data 
• Enable payment initiation via APIs 

This creates opportunities for treasury:

• Real-time data access 
• Improved integration 
• New payment solutions 

But it also introduces:

• New dependencies 
• Additional security considerations 

Because more connectivity means more potential points of failure.

Data Requirements and Standardisation

Payment regulations increasingly require:

• Structured data 
• Detailed payment information 
• Consistent formats 

ISO20022 is a key driver here.

It enables:

• Richer payment data 
• Better reconciliation 
• Improved transparency 

But it also requires:

• System updates 
• Data standardisation 
• Process adjustments 

Which, unsurprisingly, takes time.

Cross-Border Payments

Cross-border payments are subject to:

• Additional regulations 
• Reporting requirements 
• Compliance checks 

Treasury needs to consider:

• Local restrictions 
• Currency controls 
• Reporting obligations 

What looks like a simple international payment can involve multiple regulatory layers.

Fraud Prevention and Controls

Regulation pushes for stronger fraud prevention.

This includes:

• Verification of payee 
• Enhanced monitoring of transactions 
• Stricter approval processes 

Treasury integrates these into:

• Payment workflows 
• Supplier onboarding processes 
• Control frameworks 

Security improves. Friction increases. That’s the trade-off.

Impact on Treasury Operations

Payments regulation affects:

• System design 
• Process flows 
• Approval structures 
• Bank connectivity 

Treasury needs to:

• Stay informed on regulatory changes 
• Update processes accordingly 
• Ensure systems remain compliant 

Ignoring updates is not an option. Banks will enforce them anyway.

Where It Goes Wrong

Some common issues:

• Underestimating implementation effort 
• Poor data quality affecting compliance 
• Outdated systems unable to support new standards 
• Lack of coordination between IT, treasury, and compliance 
• Treating regulation as a one-time project 

Payment regulation evolves continuously. So do the requirements.

Treasury’s Role

Treasury ensures that payment processes:

• Comply with regulatory frameworks 
• Remain secure and efficient 
• Support business operations 

It translates regulation into practical processes.

Because in treasury, sending money is no longer just operational.

It’s regulated, structured, and continuously evolving.

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Automation and AI are often presented as the future of treasury. In practice, they’re already here, just not always in the smooth, magical way vendors like to suggest.

At their core, both aim to reduce manual work, improve accuracy, and support better decision-making. The difference is that automation follows rules, while AI tries to learn patterns.

Both are useful. Neither replaces thinking.

What Automation in Treasury Actually Means

Automation is about removing repetitive, rule-based tasks.

Typical examples:

• Importing and processing bank statements 
• Matching transactions for reconciliation 
• Executing payment files 
• Updating cash positions 
• Generating standard reports 

These are tasks that:

• Follow predictable steps 
• Require consistency 
• Are prone to human error when done manually 

Automation handles them faster and with fewer mistakes.

Assuming it’s set up properly. Which is where the fun begins.

Benefits of Automation

Done well, automation delivers:

• Reduced manual effort 
• Fewer operational errors 
• Faster processing times 
• More consistent outputs 

Which leads to:

• Better control 
• Improved efficiency 
• More time for analysis and decision-making 

At least in theory. In practice, treasury often reinvests that time into fixing other issues. Still useful.

Robotic Process Automation (RPA)

RPA sits somewhere between manual work and full system integration.

It mimics human actions:

• Clicking through systems 
• Extracting data 
• Moving information between platforms 

It’s useful when:

• Systems are not fully integrated 
• Quick solutions are needed 
• Processes are stable but manual 

It’s less useful when:

• Processes frequently change 
• Data is inconsistent 

Because then your “robot” breaks and someone has to fix it. Usually quickly.

AI in Treasury: What It Actually Does

AI goes beyond rules and tries to identify patterns in data.

Use cases include:

• Cash flow forecasting
  Improving predictions based on historical patterns 
• Anomaly detection
  Identifying unusual transactions or potential fraud 
• Data classification
  Categorising transactions automatically 
• Forecast variance analysis
  Highlighting where and why forecasts deviate 

AI doesn’t magically know the future. It works with the data it has.

Good data, useful insights
Bad data, more sophisticated confusion

Automation vs AI

It helps to keep expectations realistic:

• Automation
  Rule-based, predictable, stable
  Best for repetitive operational tasks 
• AI
  Data-driven, adaptive, probabilistic
  Best for analysis, prediction, and pattern recognition 

Most treasury functions start with automation. AI comes later, once data and processes are mature enough.

Skipping that order usually leads to disappointment.

The Data Dependency

Both automation and AI rely heavily on data.

They need:

• Consistent formats 
• Clean inputs 
• Reliable sources 

If data is:

• Incomplete 
• Inconsistent 
• Delayed 

Then:

• Automation fails or produces errors 
• AI produces unreliable outputs 

Technology doesn’t fix bad data. It amplifies it.

Integration with Existing Systems

Automation and AI don’t exist in isolation.

They need to connect with:

• ERP systems 
• TMS 
• Banks 
• Data platforms 

This creates dependencies:

• System compatibility 
• Data flows 
• Maintenance requirements 

Without proper integration, automation becomes fragmented and AI becomes underutilised.

The Human Factor

Despite all the technology, people remain essential.

Treasury professionals:

• Define processes 
• Set rules and parameters 
• Validate outputs 
• Handle exceptions 

Automation reduces workload. It doesn’t eliminate responsibility.

And when something goes wrong, people still need to understand what happened.

Where It Goes Wrong

Some familiar issues:

• Automating poorly designed processes 
• Overestimating what AI can deliver 
• Ignoring data quality 
• Lack of ownership and maintenance 
• Building solutions no one fully understands 

Most problems are not about technology. They’re about expectations and execution.

Treasury’s Role

Treasury decides:

• What to automate 
• Where AI adds value 
• How processes should work 
• What level of control is required 

It ensures that:

• Technology supports operations 
• Risks remain managed 
• Outputs are trusted 

Because at the end of the day, automation and AI are tools.

And tools are only as useful as the way they’re used.

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A career in treasury is not a straight line. It’s more like a network of paths that start operational and branch out into different directions depending on skills, interests, and opportunities.

That’s part of the appeal. You’re not locked into one trajectory. You can specialise, broaden, or move into leadership.

And yes, many people still end up here “by accident.”

The Typical Starting Point

Most treasury careers begin in operational roles.

As a Treasury Analyst, you’ll focus on:

• Cash positioning 
• Payments and bank account management 
• Basic forecasting 
• Reconciliation and reporting 

This is where you learn how money actually moves.

It’s not glamorous, but it builds the foundation for everything else.

Moving into Broader Responsibility

After a few years, roles expand into more responsibility.

As a Treasury Manager, you typically handle:

• Cash management structures 
• Risk management (FX, interest rates) 
• Banking relationships 
• Process improvements 

This is where you move from execution to ownership.

You’re not just doing tasks anymore. You’re responsible for outcomes.

Specialisation Paths

Treasury offers several areas to specialise in:

• Cash and Liquidity Management
  Focus on cash structures, forecasting, and working capital 
• Risk Management
  FX, interest rates, hedging strategies 
• Funding and Capital Markets
  Debt issuance, financing strategies, investor relations 
• Treasury Technology and Systems
  TMS, automation, data and integration 

Specialisation allows you to deepen expertise and become a go-to person in a specific area.

Which is great, until everyone starts calling you for everything related to it.

Leadership Roles

At a senior level, roles shift towards leadership.

As a Head of Treasury or Treasurer, responsibilities include:

• Defining treasury strategy 
• Managing funding and capital structure 
• Overseeing risk management 
• Leading teams 
• Supporting the CFO and broader business strategy 

This is where treasury becomes clearly strategic.

Less execution, more decision-making.

Moving Beyond Treasury

Treasury is also a strong stepping stone.

Common transitions include:

• CFO or Finance Director roles 
• FP&A leadership positions 
• Corporate finance or M&A roles 
• Consulting or advisory 

The combination of financial, operational, and strategic exposure makes treasury a solid base.

Horizontal Moves

Not all career moves are vertical.

You can also move sideways to:

• Broaden experience 
• Work in different industries 
• Take on international roles 

Treasury is present in most large organisations, which creates flexibility.

Interim and Consulting Paths

Some professionals move into:

• Interim treasury roles 
• Independent consulting 
• Project-based work (systems, transformations, M&A integration) 

This offers:

• Variety 
• Flexibility 
• Exposure to different environments 

It also requires:

• Strong experience 
• Ability to deliver quickly 

Not for beginners.

The Role of Technology

Technology is shaping career paths.

There is increasing demand for:

• Treasury system specialists 
• Data and analytics expertise 
• Integration and automation skills 

Which creates new roles that didn’t exist in traditional treasury setups.

What Drives Career Progression

Progression in treasury depends on:

• Technical knowledge 
• Practical experience 
• Ability to take ownership 
• Communication and stakeholder skills 

And, occasionally, being in the right place at the right time.

Let’s not pretend that doesn’t matter.

Where It Gets Stuck

Some common challenges:

• Staying too long in purely operational roles 
• Lack of exposure to strategic topics 
• Limited stakeholder interaction 
• Not developing broader business understanding 

Growth requires stepping outside comfort zones.

Even if the current role feels safe.

Treasury as a Long-Term Career

Treasury offers:

• Stability 
• Variety 
• Increasing strategic relevance 

It’s not always visible from the outside.

But once you’re in it, the range of opportunities becomes clear.

And suddenly, that “accidental” career path starts to look quite intentional.

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Banks sit at the center of almost everything treasury does. Payments flow through them, cash sits with them, funding comes from them, and risk is often managed with them.

Which means one thing: if your banking setup is weak, everything else becomes harder, slower, and more expensive.

Managing banking relationships is not about being friendly. It’s about control, access, pricing, and reliability. Treasury needs banks, but it also needs to manage them actively. Otherwise, banks will happily manage you.

The Role of Banks in Treasury

Banks provide a wide range of services:

• Payment processing and collections 
• Cash management and account structures 
• Lending and credit facilities 
• FX and hedging products 
• Trade finance and guarantees 
• Market access and advisory 

Most companies don’t rely on a single bank. They operate with a panel of banks across regions and services. That creates flexibility, but also complexity.

Treasury’s job is to structure that landscape in a way that balances efficiency, cost, and risk.

Bank Selection: More Than Just Pricing

Choosing a bank is rarely about who offers the lowest fee. At least, it shouldn’t be.

Treasury evaluates:

• Geographic coverage and local presence 
• Product capabilities and technical infrastructure 
• Credit strength and stability 
• Connectivity options (APIs, SWIFT, host-to-host) 
• Service quality and responsiveness 

A cheap bank that fails operationally or lacks capability will cost more in the long run. Usually in ways that only become visible after you’ve already committed.

Concentration vs Diversification

This is a constant balancing act.

Too few banks:

• High dependency 
• Increased counterparty risk 
• Limited negotiation leverage 

Too many banks:

• Operational complexity 
• Fragmented cash visibility 
• Higher administrative burden 

Treasury aims for a structure where:

• Core banks handle the majority of activity 
• Secondary banks provide backup and regional support 
• No single point of failure exists 

It’s not about having many banks. It’s about having the right ones, in the right roles.

Pricing and Bank Fees

Bank fees are one of those areas where companies quietly lose money for years.

Payment fees, FX margins, account charges, connectivity costs. Individually small, collectively significant.

Treasury is responsible for:

• Negotiating pricing structures 
• Monitoring actual charges versus agreements 
• Running periodic fee reviews or benchmarks 

The uncomfortable truth is that many companies don’t actively manage this. Banks notice. And they price accordingly.

Negotiating with Banks

Negotiation is not a one-time event. It’s an ongoing process.

Leverage comes from:

• Volume of business 
• Breadth of services 
• Competitive tension between banks 
• Long-term relationship potential 

Treasury needs to:

• Clearly define requirements 
• Run structured RFP processes where needed 
• Compare offers beyond headline pricing 
• Understand where banks actually make their margin 

And then there’s timing. Negotiating when you urgently need something is the worst possible moment. Negotiating when you have options is where value is created.

Credit Facilities and Liquidity Access

One of the most critical aspects of banking relationships is access to funding.

Revolving credit facilities, overdrafts, bilateral loans, syndicated facilities. These provide liquidity buffers and flexibility.

Treasury ensures:

• Sufficient committed facilities are in place 
• Maturities are spread over time 
• Covenants are manageable 
• Headroom is maintained 

Because access to liquidity is easy… until it isn’t.

Bank Connectivity and Integration

Modern treasury relies heavily on automation and data. That requires strong connectivity with banks.

Options include:

• SWIFT connectivity 
• APIs 
• Host-to-host connections 

The goal is simple: reliable, automated, and secure data exchange.

The reality is less simple. Integration projects can be complex, and not all banks are equally advanced. Treasury needs to balance innovation with practicality.

Relationship Management: The Human Layer

Despite all the systems and contracts, banking is still a relationship business.

Treasury interacts with:

• Relationship managers 
• Product specialists 
• Credit teams 

Good relationships can:

• Improve responsiveness 
• Provide early access to solutions 
• Help in difficult situations 

But relationships should never replace structure. Being on good terms doesn’t mean you stop challenging pricing or performance.

Where It Goes Wrong

Some classic issues:

• Too many banks with overlapping roles 
• No clear ownership of bank relationships 
• Lack of fee transparency 
• Over-reliance on one key bank 
• Weak negotiation due to lack of preparation 

Most of these are not strategic failures. They’re the result of neglect over time.

Treasury’s Real Objective

Treasury doesn’t aim to have “good” banking relationships. It aims to have effective ones.

Banks should:

• Deliver reliable services 
• Provide competitive pricing 
• Support the company’s strategy 
• Offer access to liquidity when needed 

Anything less becomes friction. And treasury’s job is to reduce friction, not live with it.

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