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CTP: Achieving a Holistic View of Treasury

  • By Brooke Ballenger
  • Published: 9/8/2021

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A global symbol of excellence, the Certified Treasury Professional  (CTP) designation sets the standard in the treasury profession. Earning the CTP signifies you have demonstrated the knowledge and skills required to effectively execute critical functions related to corporate liquidity, and capital and risk management.

AFP recently caught up with Siddhant Jain, CTP, treasury analyst at Moody’s Corporation in India, to discuss his decision to earn the CTP, and how it has affected his life and career journey.

How did you get your start in treasury?

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Jain: My major in college was Commerce, and while I got the chance to learn about the securities market, I was not sure if treasury was the function I was going to work for. As a fresher, I always wanted to do something different from what everyone else in my field was doing. I was recruited for one of the top IT firms in India, and fortunately, my idea of doing something different was fulfilled by the role in the company that I was selected for. The role allowed me to have my finance domain knowledge used along with the ongoing technologies called Fintech.

I started my career as a functional consultant in the treasury and risk module, supported by enabling and implementing treasury systems for globally renowned clients. While working in this area, I gained insights into the treasury environment and developed my interest to pursue it as a career.

What are two or three core aspects of your day-to-day job?

Jain: I currently work for a multinational company as a treasury implementation and project analyst. I automate and enhance the daily workings in cash management, bank reconciliations, treasury payments, cash pooling and in-house cash.

Another core aspect of my role includes configurating and managing static data in ERPs and the treasury management system, as well as working as system admin on various bank portals.

What is something that you would like to do in the future in treasury?

Jain: In the future, I want to create a seamless environment for automating and enhancing the treasury operations. My vision is to introduce new technologies to treasury and risk management so that we can reduce manual hours on recurring jobs and spend more time on strategic work.

Are there certain skills or training that help you in what you do now?

Jain: From the beginning of my career, I was privileged enough to learn about treasury and related services through on-the-job training and experiences. I have also attended a couple of treasury conferences, one being AFP’s Annual Conference, that inspired me to learn the ongoing treasury practices and how different organizations are working in resilient work environments, especially after the coronavirus pandemic. Attaining the CTP has also excessively grown my knowledge in every aspect of treasury.

What skills are most important for you to add over the next couple of years?

Jain: As a constant evolution to growth, global organizations look at risk management as part of the treasury department due to the volatility of the market. For this reason, I would like to infuse my treasury knowledge with risk management knowledge so that I can provide holistic services to clients and organizations.

What is the most critical treasury issue you are facing today? Can you share your approach to this issue?

Jain: Since treasury is now working in a globalized shared service center model, data is currently the biggest problem. Due to too many banks, bank accounts and activities all over the world, there should be one true source of data that is efficient, effective, in real time and that reduces redundancy. Due to M&A activities, a lot of chaos is also created if the data of the acquired firm is not managed well. Therefore, there is a need for process and data management in treasury as a whole.

Consolidation of the data at the central treasury level is a must when you have global operations. This consolidation can be done using appropriate TMS/ERP systems. Also, there is a need for sophisticated treasury models and digitization. Local treasury departments cannot work in silos in today’s dynamic environment. Automation and data consolidation are required and can be achieved through multiple treasury products that allow for the creation of the existing treasury structure while opening the doors for more enhancements in the future.

Why did you decide to earn the CTP?

Jain: From the beginning of my career, when I was working in treasury technologies and digitization, I wanted to have an education in treasury operations, treasury accounting and other treasury related services. The CTP credential facilitates knowledge of treasury operations such as cash management, working capital management, risk management, payments, investments, project management and treasury technologies. It provides me with a holistic view of treasury.

How has the CTP credential impacted your life/career?

Jain: The CTP credential has a given me an immense boost to my treasury career, and I can now easily understand the treasury domain requirements. It has helped me to bridge the gap between treasury technologies and treasury operations. I can also now work in both operations and technologies, giving myself an edge over others in the industry.

The understanding of treasury and enhanced communication skills the CTP credential provided has helped me grow in my current role, as well as analyze and provide solutions effectively.

Would you recommend the CTP to others? Why?

Jain: I would highly recommend the CTP designation to anyone who wants to pursue a career in treasury. If you are just starting your career, it will help you to learn how treasury is the most strategic job in the finance department and to strengthen your base knowledge of treasury.

If you are already working in a treasury department, the CTP will help you explore new areas in treasury that you might not have worked in earlier, and it will help you to grow in your career.

Learn more about the Certified Treasury Professional (CTP) designation.

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