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The Association of Corporate Treasurers. An introduction to: The Hungarian Treasury Club James Lockyer, Director of Education and International Development November 2011. What is corporate treasury?. It is the interface between the company and financial markets

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the association of corporate treasurers

The Association of Corporate Treasurers

An introduction to:

The Hungarian Treasury Club

James Lockyer, Director of Education and International Development

November 2011

what is corporate treasury
What is corporate treasury?
  • It is the interface between the company and financial markets
  • It deals with three critical questions in finance:
    • How do we decide what to invest in?
    • How do we raise the money to make those investments?
    • How do we control risk in the organisation?

Which can be summed up as

    • What is our financial strategy and policy?
  • The finance director is responsible for advising the board
    • The treasurer is responsible for advising the FD
    • But often briefs the board directly
  • And it has major operational responsibilities too.
role and profile of treasurers
Role and profile of treasurers


  • Principal tasks broadly defined under five core treasury elements:
      • Capital markets and funding
      • Cash and liquidity management
      • Corporate financial management
      • Risk management
      • Treasury operations and controls


“One day I\'m a banker, the next I\'m an accountant

and then I\'m a trader. Still I’m a corporate treasurer.”

  • The financial crisis has raised profile of treasurers
  • UK Government report flagged training, transparency and challenge as constituting good treasury practice.
act in 2011
ACT in 2011
    • Members and students in 70 countries
    • 4,200+ members – 20% outside the UK
    • 2,400+ students – 40% outside the UK
    • c70% of members and students already have a finance qualification (eg ACA, CIMA, ACCA)
    • Highly respected within the UK
    • 87% of FTSE 100 have >8 ACT members
    • 53% of FTSE 350 have >1 ACT member
  • Now supporting
    • Career treasurers, and
    • Career finance professionals – CFOs, financial controllers, internal auditors etc.
act international presence
ACT – international presence
  • Tuition and/or events in Germany, Hong Kong, India, Ireland, Netherlands, Russia, Singapore, South Africa, UAE and UK
    • Active member of International and European treasury groupings (IGTA and EACT)
  • Providing education support to 8 national treasury associations around the world
  • Middle East network launched in 2008
act promoting international professional treasury standards
ACT – promoting international professional treasury standards
  • Committed to developing ACT’s networks and support for members and students overseas, in particular
    • Europe
    • Hong Kong
    • India
    • Middle East
    • North America
    • Singapore
    • South Africa
  • In raising the profile of ACT overseas we can increase recognition of professional treasury qualifications and in turn the profession.
who do we work with
Who do we work with?
  • Treasury Associations:
    • EACT, IGTA & Members (CAT (Czech), SAF (Slovakia), AITI (Italy), IACCT (Hong Kong), ACTSA (South Africa), IACT (Ireland), ACTS (Singapore)
  • Accountancy Bodies:
  • Regulators / Government:
    • FRC, FSA, Bank of England, Treasury, European Commission, IASB (and EFRAG), UK Financial Reporting Council (FRC)
  • Other professional bodies:
    • ICSA, IIA, IRM



why treasury qualified
Why treasury qualified?

You wouldn’t trust your key legal decisions to someone who isn’t a qualified lawyer, so – whatever the size of your organisation – why entrust your treasury, risk and corporate finance to someone who isn’t a qualified treasury professional?

act qualifications
ACT qualifications

Fast-track route and exemptions

Standard route to ACT qualifications and membership

Level of ability

MCT Advanced Diploma

Advanced treasury knowledge and strategic decision making – proven ability and expertise

Full Member of the ACT

Direct entry with relevant finance qualification or senior experience

AMCT Diploma

Modular syllabus comprising 3 stages

Technical treasury competence

acknowledged standardAssociate Member of the ACT

AMCT Stage 3

Select 2 electives to complete AMCT or take as individual certificates

Shorter CertCFF paper and exam for AMCT Fast-Track eligible accountants

Specialist skills

ACT Faculty Member


Corporate Finance

& Funding


Financial Maths

& Modelling







AMCT Stage 2

AMCT entry point for qualified accountants from IFAC member bodies and those with other relevant qualifications

Broad practical understanding of treasury

ACT Faculty Member

Compulsory for AMCT or can be taken as individual certificates

Certificate in International Treasury Management – CertITM

Certificate in International Treasury Management Public Finance – CertITM-PF

Fundamentals of financial and management accounting, economics, corporate tax and law for business

ACT Faculty Member

AMCT Stage 1

Qualified accountants are exempt from AMCT stage 1

Exemptions available with

other relevant qualifications

Can be taken as part of AMCT or as individual certificate

Certificate in Financial Fundamentals for Business – CertFin

the voice of corporate treasury
The voice of corporate treasury

Representing the corporate user of financial services to regulators and standard setters and in developing market practices. A few recent examples

OTC derivative regulation in Europe - Successfully argued for carve out for non financial companies

European Financial Transaction Tax (FTT) - Political momentum is increasing for a new FTT in Europe

Supply Chain Finance (SCF) - Chaired working group set up by the Bank of England.

Market Abuse Directive - Lobbying for EU to adopt same high standards

Credit rating methodologies - Responded to consultations from rating agencies on changes to methodologies for rating banks and for rating Money market Funds

Independent Commission on Banking (UK)

  • Submitted evidence to the Vickers review

For more go to

act promoting international treasury standards
ACT – promoting international treasury standards
  • The Treasurer magazine and Middle East Treasurer
      • Readership >20,000, 49% outside the UK
      • Editorial leadership – by treasurers, for treasurers
      • Specialist supplements/reference books
      • Monthly e-newsletter
  • Handbooks
      • International Handbook – 40% distributed outside UK
      • Asia Handbook – regional specific content
    • Flagship Events
      • ACT Annual Conference
      • ACT Middle East Annual Conference
      • talkingtreasury – the international thought-leadership series
      • Annual Dinner, London