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How to Become a Treasury Analyst
Treasury analysts are financial analysts who usually work for large organizations. Their focus tends to be internal -- examining and reporting on various staff functions, tracking the implementation of budget goals, and forecasting. Treasury analysts need the right aptitude and educational background in order to succeed and become eligible for advancement to higher positions, such as assistant treasurer, treasurer or higher.
Treasury Analyst Job Description
Treasury analysts are continually engaged in assessing the financial health of the organizations for which they work. Large corporations, major nonprofit organizations and government agencies typically employ treasury analysts. Depending on the employer, this could be an entry-level position or one for someone who has just completed a management training program.
The day-to-day job description of treasury staff in this role involves overseeing the uses of funds, managing risk, analyzing cash flows and handling assignments concerning liability issues. Analysts use computer-based financial modeling techniques for financial projections and for assessing investment strategies. Treasury analysts often make presentations to higher management.
Check Your Aptitude
Undergraduates and others who are interested in a career path in corporate finance might want reassurance that such a plan makes sense for them. One tool that might help is the aptitude test. Some are brief and others are in-depth. A test for financial analysts could contain questions and problems in areas such as analytical skills, problem-solving, attention to detail and communication.
Psychology-based firms offer this testing. College and university placement offices normally have information about aptitude testing.
How to Qualify for Jobs
Candidates for treasury analyst positions should be college graduates with bachelor's degrees in business administration, accounting, finance, economics or statistics. Those with solid analytical skills and the ability to communicate clearly in writing and verbally will have ample opportunities to make a contribution at work. In addition, successful treasury analysts tend to be detail oriented and have mathematical skills that apply directly to the work. Analysts should also be well qualified technically and have the ability to use sophisticated software for financial forecasting and modeling.
Becoming a Certified Treasury Professional
Treasury analysts who want to gain an edge in qualifying for advancement might consider acquiring the Certified Treasury Professional credential. It's a way for an analyst to demonstrate his expertise and is good for enhancing promotion potential. It's awarded by the Association for Financial Professionals to treasury analysts with at least two years of experience who pass a special examination. The certification must be renewed every three years.
Current Job Outlook
The Bureau of Labor Statistics reports that nationwide employment for financial analyst positions, including treasury analysts, is expected to grow 11 percent during the period 2016 to 2026. This is faster than the average for all occupations. The reason is the proliferation of financial products and the demand for personnel with knowledge of emerging overseas markets. Job candidates with advanced academic degrees and professional certifications have better prospects than competitors who lack them.
Salaries for financial analysts are high. They earned a median annual wage of $83,660 in May 2020. The lowest-paid 10 percent made under $48,760, and the top 10 percent received more than $159,560.
Where to Look for Jobs
Candidates for treasury analyst positions should use as many sources as possible. Online recruiters have listings, complete with company names, locations, job descriptions and prerequisites. The financial and business press carry advertisements for openings. Regional and local publications can be good sources of information. College and university placement offices maintain information about open positions.
If a job-seeker is interested in a particular company, but has no specific knowledge of openings for treasury analysts, he can still inquire.
Networking for Unpublished Openings
In addition to answering job listings, candidates might gain insight into the so-called "hidden job market" by networking -- tapping their network of friends, acquaintances and colleagues to ask for referrals to others who might know about openings that are not yet advertised. Properly done, networking can be rewarding for the job-seeker. Candidates should treat job searches as full-time projects and be alert to opportunities such as job fairs, civic organization meetings and other events that might yield information about job opportunities.
Charles Crawford, a former commercial banker, has been a business writer in New York since 1990. He has produced marketing materials for an executive outplacement firm, written the quarterly newsletter of a medical nonprofit organization and created financing proposals/business plans. Crawford holds a Bachelor of Arts in English and a Master of Science in international affairs from Florida State University.
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