Just curious what kind of moves people made after they worked in Corporate Treasury for awhile. I have been Treasury Analyst for a little more than a year (also L2 candidate) and am beginning to look around. What type of jobs do ex- Treasury people usually land? Where should I concentrate my search efforts? Thanks again
As a follow on to my previous post I am looking at PM as a possibility but just wanted to hear what others might have to say
my guess is problably not PM. Research Associate more likely. just a guess. i would imagine any PM unless private client would require some form of investment experience.
Cool, Thanks. Why not PM? I help to manage our rather large company’s cash portfolio.
its just a guess. repos, overnight rate funds, funds transfer and that sort of stuff isn’t the same as managing a fund for pure returns. from what i know, cash management activities at the treasury level is done to make sure excess cash gets invested and shortfalls get covered. not so mcuh on industry analysis and business valuation. just a guess though.
yea thats pretty spot on actually any other type of roles I should consider?
hmm… i also thought that treasury was similar to an investment analyst level at a fixed income fund, and the transition to it would be relatively easier? I’ve been trying to get into treasury actually… fxguy do you research the companies you invest in, e.g. for credit risk, etc… or do any duration/convexity analysis, etc?
bruizeman - somewhat, but everything is so short term (commercial paper all <30 days, all AAA or gov’t) that it really isn’t a huge factor. What arena do you work in now? Let me know if you have any Treasury specific questions.
i have a very generalist position at a private equity firm. My title is accountant and I am responsible for financial reporting/control, valuations, and treasury functions. Of the treasury part: -I do manage the cash part, and our investments are also AAA/gov now, but prior to this meltdown we were invested in corporate bonds. Since I’m also involved in all the other parts, I really spend little to no time analyzing the cash investments, maximizing yield, etc. I just bought one big $40M banker’s acceptance for instance. My benchmark is to beat the return on a chequing account… I’m hoping to specialize in treasury where I can do some more formal analysis. (I’m also assuming there is more formal analysis involved -correct me if i am wrong fxguy) and get deeper into investing. I also don’t do any FX hedging. My view is that treasury will help land a position as an analyst in a investment management firm. I tried applying to some treasury positions, but I haven’t heard back from any.
fxguy, i’m looking to do PM too. but i realize that i need at least min 5 years of experience as an investment analyst. fx…i know a bit about treasury functions as i’m in corp head office too though not cash management. i spend my time researching companies and understanding how different companies operate so i can value them. its tough when our jobs don’t involve business valuation cause it takes a long time to go through annual reports and stuff, but its fun. finish your CFA and you’ll get a better picture. CFA is just the beginning.
i interned in a treasury dept. while in school. a big complaint of the people there is that they get pigeon-holed as cash managers and aren’t able to move into anything other than treasury. their advice to me was, if i went into treasury (which i didn’t), only stay a short while to allow for exit ops.
fxguy - i just finished a phone interview for a treasury position and by the sounds i may get the in person interview as well Can I email you and get your input on the job?
sure… forex1679 at gmail dot com
awesome thanks.
I have talked to many PMs that manage short-term cash. Being a PM has nothing to do with business valuations and reading annual reports. Met many at large pension funds and asset management funds. Sadly with structured financing dead, and interest at around 0…very hard for anyone to make money in the short-term markets these days I would say.