Make Money Working in Money

Most of us agree on one thing – we like money. Do you like it enough to make a career out of it? Treasury is often overlooked, mainly because people don’t understand it. In reality, treasury is a growing field – one where individuals use financial skills and have a role in shaping companies and organizations. Check out these facts about treasury from the Association for Financial Professionals (AFP).OverviewTreasurers deal with the financial assets and liabilities of an organization, as well as the cash flows and risks related to those assets and liabilities. They recognize decisions that could put a company’s cash flow at risk; contribute to the strategic decisions shaping the future of the business and make sure that the organization always has sufficient liquidity to fund its transactional needs.In corporate treasury and finance, you run the front lines in making sure your company has enough capital on hand to maintain its operations and reach its strategic goals. You’re moving billions of dollars through capital markets and making decisions that impact the financial health of their organizations.Today, treasurers are fulfilling a multitude of roles, from managing trillions of dollars in cash every day to non-financial risk management and retirement and pension plan administration.Training and EducationA business, finance or economics degree is required. An MBA and/or CPA are highly valued as well. Good basic finance and analytical skills are a must. Continuing education and certification are important steps in any career – in treasury it’s imperative. To get ahead, it’s vital to display a mastery of required skills. The standard of excellence in treasury is the Certified Treasury Professional (CTP) designation.OpportunitiesRoles and responsibilities of corporate treasury and finance professionals are increasing, so there are plenty of advancement opportunities to the positions of assistant treasurer, treasurer and chief financial officer.According to a survey conducted by the AFP, 91 percent of senior treasury professionals say their treasury department is playing a greater strategic role within their organization now than five years ago. An equal number expect this trend to continue, which may also contribute to the forecast that nearly a third of organizations expect to increase the size of their treasury staff in the next three years.Pros and Cons of a Career in TreasuryMany don’t understand treasury. While accountants tell the history of an organization, treasury professionals actually help make that history. It’s a much more powerful role to influence the financial performance of an organization.SalaryThe median salary for a treasurer ws $138,000 in January 2006, according to a compensation survey by the AFP. The same survey shows salaries for treasury professionals grew 30 percent faster than for other white-collar workers.Job OutlookTreasury will grow at 14.8 percent between 2004 and 2014, according to the Bureau of Labor Statistics (BLS).Source: The Association of Financial Professionals