Treasury and Financial Management Training
Treasury Risk training is a logical extension to the provision of treasury risk advisory services. Part of the output of any project undertaken by Treasury Solutions is the transfer of knowledge from it to clients. The provision of focused training courses maintains and enhances those skill sets thereby empowering finance staff of many clients.
John Finn has been the main provider of treasury risk training to a number of professional bodies over the past decade. He has developed and delivered basic and advanced training courses to the members of Chartered Accountants Ireland for that period but has also worked with other bodies and institutions including The Institute of Certified Accountants, CPA Ireland, Institute of Bankers and University College Cork.
Customised in-house courses have been developed and delivered to a range of clients from US multinationals to representative organisations. The benefits of this approach include course delivery tailored to the specific sector, cost economies of scale by spreading the cost of the course across a number of employees (which can be significant where employees normally require overnight stays to travel to courses) whilst meeting CPD requirements of the participants.
Since 2015, Treasury Solutions has also organised and run its own courses on specific topics from Treasury Best Practice to Brexit and Foreign Exchange in locations both within and outside Dublin.
Company C is a local authority which had a large number of bank accounts spread over a number of banks. It ran simultaneous debt and surplus cash positions for various reasons and as a result had a requirement to invest surplus funds on a regular basis. It operated a cash pool in Ireland with one of the banks. Payments were made both electronically and via paper and lodgments were a mixture of cash, cheques and electronic funds transfers.
The objective of the project was to improve the cash management processes, to reduce associated costs where possible and to deal with the issue of investment returns versus counterparty credit risk as it was vital that surplus cash was invested with financially sound banks and financial institutions.
- Reviewed a list of all bank accounts by bank including branch locations of the accounts
- Identified accounts which could be closed and/or kept outside a cash pool
- Established a cashpool arrangement for the second bank
- Establishment a means of integrating the cashpool data from the two different banks in order to maximize liquidity
- Established a policy for the investment of surplus cash with appropriate financial institutions. This was based around counterparty credit ratings and other variables which in turn were based on our access to the “Ratings Direct” service provided by Standard & Poor, to which we subscribe.
- We also reviewed bank overdraft documentation to ensure that it was appropriate for the institutions involved.
The result was a reduction in the number of bank accounts, better management of the net cash position, lower costs associated with this position, access to a maximum amount of liquidity on a daily basis and investment of surplus cash with only those financial institutions that met strict counterparty credit criteria. We also organised cash and balance reporting on a daily basis in order to address liquidity risk.
Contact us if you require more information on this topic
What Our Clients Say
We are a large company with a turnover of c.€250m. Initially we used Treasury Solutions to review our treasury policy and procedures to ensure that they were appropriate to an organisation of our size and complexity. Since then the group refunded its entire debt as part of a major acquisition and the advice we received in relation to strategy, bank covenants and facility letters was invaluable. TS have continued to support us through the current financial crisis with pragmatic and independent advice.
CFO,, Large Company
I have used Treasury Solutions since 2005 for a variety of roles - from the creation of a top class Treasury Policy that is tangible and meaningful, to a review of our treasury function from an Audit and Best Practice viewpoint, to adhoc day-to-day advice and views (on) what is happening in the re-financing market….reliable, consistent and customer-focused; they are very much a part of my decision making process.
CFO,, Large PLC and Private Company
Since the downturn, I have used Treasury Solutions as a sounding board and to watch my back in terms of banking covenants and funding strategies. At all times, I have found them to be approachable, plain speakers and experts in their area. I think … their fees could have been the best spent money that our company has spent in the last few years.
CFO,, Major Private Company
We used Treasury Solutions to assist us with the development of a foreign exchange policy. Their suggestions were practical and well communicated. They understood the subject thoroughly and we will use them again in the future should the need arise.
FC, , Private Irish Company with turnover of €160m
We are an Irish owned multinational company with a turnover in the region of €350m and 2,000 staff. Our treasury function is very complex with a large number of FX exposures and funding arrangements…Treasury Solutions has given invaluable support on a wide range of matters from strategic policy to day-to-day advice….independent, professional and thoroughly competent.
Group Finance Director,, Large Private Company
John Finn of Treasury Solutions continues to be an invaluable help to us as a small business in our long-term financial planning and in our dealings with financial institutions. In most recent times, his experience and up-to-date knowledge of the financial scene allowed us to be confident of our case in prolonged and difficult negotiations with our main banking partner. Encouraged by John’s tenacity and advice we achieved a favourable long-term result, which will allow us to get back to focusing fully on the running and developing of our business.
Ruairí & Marie-Thérèse de Blacam,, Inis Meáin Rest. & Suites