“The only thing worse than training your employees and having them leave is not training them and having them stay,” said Henry Ford, founder of the Ford Motor Company.

Failure to invest in employee training can result in a cloistered treasury team that lacks industry relevance, bench strength, and new knowledge or skills.  

Because employees are the most valuable assets an organization has and they play a vital role in enhancing its long-term competitive advantage, it is imperative to develop and increase the potential of treasury employees for greater retention and engagement, and also to make the treasury team stronger in a volatile and unpredictable world.

One of the most effective training and development methods for treasury executives is external training courses. Courses are known to augment employee skillsets and improve organizational performance.

We have published articles compiling lists of treasury management books, ebooks, podcasts and webinars to help corporate treasury management practitioners expand their knowledge and hone their skills, adding value to their team and organization.

Encouraging your treasury employees to continue their education by taking specialized treasury courses is a sure-fire way to advance their careers and assist your corporation in gaining sustainable competitive advantage. To derive optimal results and focus on building an accomplished treasury workforce, we recommend that treasurers arm their team by giving them targeted training where they need it most.

Here's our collated list of five important treasury courses for your team members that will help them to upskill or reskill, keeping your corporation competitive and relevant. These courses are not ranked in order of preference:

 

Treasury Management for Corporates and Banks by Euromoney

 

 

The Treasury Management for Corporates and Banks course offered by Euromoney is designed to give participants an in-depth understanding of the treasury department and its activities.

By the end of this course, the attendees will be able to identify the functions of the treasury department in a corporate and the bank, and will understand:

·The roles and responsibilities of the CFO and the treasurer.

·How the treasury function funds the institution.

·Interest rate derivate products, foreign exchange products, commodity and credit derivative products.

The course programme will also help participants identify the best practices in cash management, funding, liquidity management and market risk management in corporate treasury, and will describe and structure key short-term funding money market products, capital market products and loan products.

 

SecureTreasury (fraud prevention training) by Strategic Treasurer

SecureTreasury™ is a subscription cloud-based training course designed to reduce the risk of corporate payment fraud by educating interdepartmental staff on common approaches to fraud, areas of organizational vulnerability, and leading practices for increased controls within a complete treasury security framework.

With fraud on the rise, corporations are being regularly targeted by increasingly sophisticated criminals. Treasurers must respond, and one of the best ways to protect their organizations from fraud is for them to educate and train their treasury team, as well as interdepartmental teams.

The SecureTreasury™ course by Strategic Treasurer delivers proficient security training directly to your team members across the globe through a user-friendly platform.* Among the most important aspects of the course are the twelve payment security principles, referred to by the mnemonic “SECURE CLAMPS”, which helps treasurers and their teams understand the security frameworks at their organization and proactively defend against attempted fraud.

The cores of these twelve foundational principles for securing your payment processes remain consistent amidst constantly evolving threats and leading practices.

To carry out their role as the “superintendents” of payment security, treasurers must understand the nature and criminal calculus of treasury fraud in today’s uncertain corporate climate, gain deeper awareness of the vulnerabilities that exist within a complex web of interconnected payment networks, and comprehend key security policy components and the myriad tactics in the criminal playbook.

SecureTreasury™ facilitates education and training in all of the above aspects and more for small treasury teams, interdepartmental groups, large scale regional enterprises, and global organizations.

 

Taming Treasury Technology by EuroFinance

 

The Taming Treasury Technology course created by EuroFinance provides a holistic picture of treasury technology from a practitioner’s point of view, allowing attendees to design a technology strategy for the treasury function or optimise already chosen technologies.

By the end of this course, the attendees will:

·Be able to structure a holistic approach, from technology selection to implementation and beyond.

·Have an overview of existing and new technologies relevant to the treasury department, including TMS, dealing platforms, market information providers, ESG, supply chain finance and investing, crypto-and other digital currencies, decentralized finance (DeFi) and more.

·Comprehend enabling infrastructure and technologies: ERP, TMS and other systems integration, APIs, SaaS, blockchain, robotic process automation (RPA), data cleansing and wrangling, artificial intelligence and machine learning (AI/ML), Web 3.0 and more.

The course will also help participants create a framework for identifying technology needs and constraints, knowing who needs to be involved and what roles they should have.

 

Advanced Cash Management by the Association of Corporate Treasurers (ACT)

 

The Advanced Cash Management training course, broken down into four modules and designed by the Association of Corporate Treasurers (ACT), delivers in-depth cash management knowledge to prepare for a rapidly changing environment.

Upon completion of the course, treasury executives will be able to see both the demand and supply sides of cash management, including the skills to optimise liquidity for the investment of surpluses or the funding of deficits on a regional and global basis.

 

Treasury & Payments Management by AFP

 

 

The Treasury & Payments Management is an interactive five course series comprising a cash management series, treasury management series, payments essentials series, payments management series, and treasury tech series.

These customized curriculums have been designed by the Association for Financial Professionals (AFP) with the specific purpose of turning treasurers into strategic business partners.

The cash management series lays the foundation for a complete understanding of corporate cash management. It includes three modules, namely cash management fundamentals, advanced liquidity management, and decoding your analysis statements.

The second course series, titled treasury management, offers a thorough understanding of the fundamentals of treasury management and how treasury departments can add value to their company. The four modules this course offers are a day in the life of a treasurer overview; treasury management fundamentals; working capital management; and understanding foreign exchange, international risk and payments.

The third course in this interactive series is the payments essentials series, which provides a greater understanding of how payments systems and processes work from the corporate treasury management perspective and how to prevent payments fraud.

The payments management series helps treasury teams understand how accounts payable (AP) and accounts receivable (AR) work in tandem and how they are vital to the long-term survival of any business.

The fifth course, treasury tech, is primarily a cash flow analytics series that comprises advanced cash flow forecasting using statistical techniques (statistical methods used to forecast components of the cash budget) and advanced cash flow forecasting using Monte Carlo techniques (methods to evaluate a range of possible outcomes for forecasting business activities).

Conclusion

External training courses are an essential part of employee learning and development and a strategic act for a company to thrive. It is also a suitable method to help corporations gain and retain top talent and increase staff morale, productivity and profits.

Treasurers that encourage their team members to better themselves through specific or niche courses will not only help them take their treasury career to the next level, but also facilitate transformative treasury initiatives that will accelerate organizational growth and improve cost structure and operational effectiveness. For now, invest in your treasury team and watch it pay off.

 

*Disclaimer: Strategic Treasurer owns CTMfile.