Treasury Jobs in the Middle East

Treasury – its Place in the Financial Services Industry

Overview

Treasury is the term used to describe the department within a company which oversees the management of the cash and capital of the business. Over the last 20 years or so, the Treasury function has gradually become separated from the Finance function.

High profile and well-publicised problems resulting from “rogue traders” at certain banks and financial institutions may lead some to believe that the Treasury function is solely concerned with the cut and thrust of the front-office dealing room, but the scope of the Treasury function covers a great deal more.

In a corporate Treasury department this can include everything from managing the cash holdings, investments and debts of the business to financial risk management, investor relations, and the issuing of new shares.

Within a bank, the Treasury department is normally responsible for managing the bank’s cash, liquidity and foreign exchange positions and risks. This includes dealing with money market operations, foreign exchange dealing, and foreign currency and interest rate derivative products (swaps, options, futures etc.)

As well as in the front office dealing room, staff are also employed in the so-called “back office”, where the administrative work which is necessary to record and monitor the various deals struck by the traders is carried out.

Typical Job Titles and Hierarchy in Treasury

Different organisations use a bewildering variety of differing job titles for roles within Treasury. As a result it is difficult to benchmark one role against another, except perhaps by the level of salary being offered. A Treasury Dealer in one organisation may be senior to a Treasury Analyst, yet the position may be reversed in another organisation. Generally, however, a Manager will be senior to an Analyst or Dealer and a Head or Controller will be more senior than a Manager. By way of example, the following list sets out some typical job titles in approximate order of seniority, from lowest to highest:

    • Treasury Assistant
    • Treasury Dealer
    • Treasury Analyst
    • Derivatives & Treasury Settlement Officer
    • Treasury and Settlement Analyst
    • Treasury Liquidity Manager
    • Back Office Treasury Manager
    • Treasury Project Manager
    • Treasury Manager
    • Treasury Risk Manager
    • Senior Manager, Treasury Reporting & Control
    • Treasury Financial Risk Manager
    • Treasury Controller
    • Head of Treasury

Typical Career Progression in Treasury

Staff may join a bank Treasury department directly, or after experience in other functions within the bank. Similarly, progression may be within the Treasury function or to another area within the bank. It is common to join as a dealer, gain experience on the desks, and then progress to the various management roles within the Treasury function.

Typical Qualifications Related to Treasury

The Association of Corporate Treasurers (ACT) is the professional body for Corporate Treasurers in the UK, which promotes the study and practice of finance & treasury management. A suite of qualifications is offered, including the AMCT Diploma, the MCT Advanced Diploma and several specialist certificates.

For bank Treasury functions there is no specific qualification, although many employees will be graduates and/or ACT qualified. The IFS School of Finance (formerly the Chartered Institute of Bankers) offers a general banking degree qualification – the BSc (Hons) in Banking Practice and Management (formerly the ACIB) – which incorporates specialist option modules such “Risk Financing and Management”.