What does a Treasurer do?
The primary duty of a Treasurer is to manage the monetary practices of a company to ensure financial success. They advise management on investments and acquisitions and assess the risk related to liquidity, credit and other financial activities. The Treasurer also develops procurement strategies and ensures that the company has healthy finances. They create protocols and processes to guide the conduct of employees and management regarding the company’s cash flows. Depending on the industry, a Treasurer may oversee budget appropriations among other duties. They also ensure that the organisation adheres to financial tax regulations and best practices.
Treasurer skills and qualifications
A successful Treasurer candidate will have various prerequisite skills and qualifications needed to perform duties effectively. These include:
- Proven experience as a Treasurer, Financial Officer or related role
- In-depth knowledge of financial, accounting and tax regulations, legislation and best practices
- Excellent knowledge of the investment market, the stock market and the various methods of raising capital
- Exceptional written and verbal communication skills
- Strong negotiation, decision-making and leadership skills
- Good maths skills and the ability to work with financial data and analytics
- Proficiency in financial management software and other industry-specific tools
- Knowledge of accounting, economics and finance
Treasurer experience requirements
Treasurer candidates typically require experience in business management, finance, accounting or economics. Large organisations often need Treasurer candidates to have up to 5 to 10 years of industry experience. Some employers will accept candidates with accounting or finance background, even if they lack extensive experience. Such candidates usually gain some work experience during their university or college studies.
Treasurer education and training requirements
Most employers will recruit Treasurer candidates with a degree in accounting, business studies or finance. Some consider qualified candidates in their field who have a relevant college course, such as a Level 2 Certificate in Bookkeeping, a Level 2 Certificate in Accounting or a Level 3 Certificate in Financial Studies. Organisations may also accept candidates who have completed an Assistant Accountant advanced apprenticeship. In some organisations, Finance Assistants or Accounts Assistants can rise through the ranks to the position of Treasurer. Treasurers can take professional courses, such as Trade Finance and Transaction Banking and Financial Advice from The London Institute of Banking and Finance.
Treasurer salary expectations
According to Indeed Salaries, the average salary for Treasurer candidates in the UK, is £68,113 per year. Actual pay may depend on the location, employer, job duties, responsibilities, industry, experience and qualifications.
Job description samples for similar positions
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