Legal, finance and accounting
Treasury assistant
Support the accuracy of financial data and transactions to ensure the corporate treasurer knows how much cash an organisation has and how it is used
Summary
This occupation is found in all corporate organisations that require oversight and management of their finances, including cash management, loans, investments, foreign exchange transactions, and risk management. Organisations that employ treasury assistants are typically medium to large, such as commercial entities, financial institutions, public bodies, and third-sector organisations. Accountancy firms may employ treasury assistants to support corporate treasurers in performing activities on behalf of their clients within the clients’ businesses and organisations. Companies may employ treasury assistants to support their own corporate treasurers in performing treasury activities within the business. In the public sector, a treasury function carries out treasury activities in organisations such as central government departments, local authorities, regulators, and higher education institutions. Treasury assistants are qualified and recognised by the Association of Corporate Treasurers (ACT) and carry out their activities under the supervision of corporate treasurers.
The broad purpose of the occupation is to support the corporate treasurer within the treasury function. Treasury assistants carry out routine activities under supervision. Activities may include ensuring that financial data is accurate so that the corporate treasurer knows how much cash the organisation has and how it is being used. Treasury assistants support and carry out the collection and recording of data from financial transactions. They contribute to the creation of high-quality data reports and recording regimes. They use digital tools, such as treasury management software, to collate and organise data, manage personal workflow, and ensure that their work supports the organisation’s policies, procedures, and objectives. They may collate and report on data such as cash receipts, payments, transfers, deposits, loan drawdowns, and foreign exchange deals. A treasury assistant follows rules, controls, and reporting strategies devised by others. They support change through continuous process improvements, identifying areas suitable for re-engineering cash management processes. They seek advice from subject matter experts on treasury matters and are often the initial contact point for stakeholders, assisting with routine queries. They work within a culture of compliance and risk awareness and may be directed by others to consider sustainability and green finance principles.
In their daily work, an employee in this occupation interacts with peers, corporate treasurers, wider finance team members, accountants, senior leaders, auditors, and financial institutions.
An employee in this occupation is responsible for managing their personal workload of day-to-day tasks within the treasury function team.
Typical job titles include
- Cash manager | Finance officer | Treasury analyst | Treasury assistant | Treasury dealer | Treasury officer
Knowledge, skills and behaviours (KSBs)
K1:
The role of the corporate treasury function, including treasury policies and structures.
K2:
Principles of day-to-day cash management.
K3:
Principles of cashflows and forecasting.
K4:
Principles of cash balances, currencies, and locations.
K5:
Principles of interest rates, yields and yield curves, and the relevant calculations.
K6:
The features, participants, and conventions of the foreign exchange (FX) market.
K7:
The principles of liquidity and working capital.
K8:
Investment and borrowing solutions.
K9:
Capital structures and calculating the cost of capital, using a range of appropriate practical models and techniques.
K10:
Principles of data analysis and financial reporting.
K11:
The digital tools and technology used to deliver financial and treasury activities safely and securely within their scope of practice.
K12:
Approaches to identifying financial risks, reporting, and the key risks that organisations face.
K13:
Types of misstatement, error, and fraud, and approaches to preventing, identifying, and mitigating them.
K14:
Principles of financial reporting and tax, and their implications for treasury transactions and planning.
K15:
Corporate governance, regulatory controls, and policies that apply to treasury, and the importance of ensuring ethical behaviour.
K16:
Communication techniques and methods, and the importance of adapting communication style to facilitate understanding for financial and non-financial stakeholders, for example active listening, team communication, and diversity and inclusion considerations.
K17:
Principles of data security, including the consequences and impacts of non-compliance.
K18:
Principles of workload management to plan, organise, and prioritise own tasks and manage time effectively.
K19:
The importance of professional development for professional practice, including keeping up to date with the latest legislation, releases from standard setters, advances in and applications of digital technology applicable to treasury and finance, and guidance from regulatory bodies.
K20:
Approaches to building and maintaining collaborative, professional relationships with internal and external stakeholders.
Technical Educational Products
- ST1485: Treasury assistant (Level 4) Development stage
- Reference:
- OCC1485
- Status:
Occupational standard in development
- SOC 2020 code:
- 0
- SOC 2020 sub unit groups:
S1:
Comply with relevant laws and regulations when undertaking treasury activities.
S2:
Manage day-to-day cash transactions, including identifying misstatements and errors.
S3:
Securely maintain records of actual cashflows against forecast cashflows.
S4:
Record and manage cash balances, currencies, and locations of cash.
S5:
Implement financial calculations in treasury, including the calculation of interest rates.
S6:
Support the management of financial risks and reporting, including cash flow forecasting.
S7:
Undertake data analysis to inform the content of financial reports.
S8:
Communicate treasury information to technical and non-technical stakeholders using language appropriate to the audience, including verbal and written communication, in line with organisational expectations.
S9:
Use digital tools and technology to deliver financial and treasury activities safely and securely.
S10:
Comply with organisational policies on data handling, including managing and storing treasury data safely and securely.
S11:
Build and maintain collaborative, professional relationships with internal and external stakeholders to deliver and enhance treasury outcomes.
S12:
Use workload management principles to plan, organise, and prioritise own tasks and manage time effectively, such as meeting bank cut-offs and period-end processes.
Technical Educational Products
- ST1485: Treasury assistant (Level 4) Development stage
- Reference:
- OCC1485
- Status:
Occupational standard in development
- SOC 2020 code:
- 0
- SOC 2020 sub unit groups:
B1:
Acts with diligent attention to detail, striving for completeness and accuracy.
B2:
Applies professional judgement that complies with ethical and organisational standards and policies when suggesting courses of action.
B3:
Demonstrates professional scepticism with a questioning mind, critically assessing and remaining alert to conditions that may indicate a possible misstatement due to error or fraud.
B4:
Works collaboratively with others across the organisation and with stakeholders.
B5:
Displays a growth mindset and uses own initiative, learning from failures and identifying opportunities when seeking solutions to organisational needs.
B6:
Works flexibly and adapts to changing circumstances or environments, including responding positively to challenges, setbacks, and feedback.
Technical Educational Products
- ST1485: Treasury assistant (Level 4) Development stage
- Reference:
- OCC1485
- Status:
- Occupational standard in development
- SOC 2020 code:
- 0
- SOC 2020 sub unit groups:
