Career Definition for Corporate Treasurers
Corporate treasurers' primary responsibilities involve analysis and oversight of risk management, fiscal control and reporting, corporate accounting and finance and taxation reporting. They also manage business investments, corporate banking and lines of credit, as well as cash holdings. Corporate treasurers gather information from reports, hold meetings with colleagues, cultivate relationships with banking and financial services representatives that work with the company and develop company financial policies and budgets as needed. Corporate treasurers may travel occasionally and often work more than 40 hours per week.
|Education||At least a bachelor's degree in accounting or finance; continuing education is required|
|Job Skills||Priorities management, attention to detail, analytical thinking, time management, financial understanding|
|Median Salary*||$129,890 for all financial managers (2019)|
|Career Outlook*||15% growth for all financial managers (2019-2029)|
Source: *U.S. Bureau of Labor Statistics
Corporate treasurers have a bachelor's degree in accounting or occasionally finance. Extensive related experience is a common job requirement for most corporate treasury jobs. Some firms prefer corporate treasurers to hold CPA credentials or a master's degree. Certified treasury professional certification can also be obtained through the Association for Financial Professionals. Continuing education is crucial for corporate treasurers, because they need to be aware of applicable changes to things like tax codes and regulations regarding financial instruments. Corporate treasurers study risk analysis and management, cash flow models, accounting, financial reporting and computers.
Corporate treasurers require analytical thinking, strong attention to detail and time management skills to meet deadlines, in addition to the ability to manage priorities and guide a company's financial policies and financial operating procedures responsibly and profitably.
Career and Economic Outlook
The U.S. Bureau of Labor Statistics (BLS) published that financial managers, which would include corporate treasurers, can anticipate much faster than average job growth (15% from 2019-2029) in a highly competitive field. The BLS also reports that the median annual income for financial managers was $129,890 in 2019.
Alternate Career Options
Related careers include:
Accountant and Auditor
Usually having at least a bachelor's degree in accounting or a similar field, these professionals prepare and check financial records for accuracy, also making sure that taxes are paid on time and that business operations run efficiently. From 2019-2029, the BLS projected faster than average employment growth of 4% for accountants and auditors and reported an annual median salary of $71,550 in 2019.
With at least a bachelor's degree, budget analysts help both private and public institutions organize and maintain their financial budgets. An average rise in jobs of 3% was forecast by the BLS during the 2019-2029 decade for this profession that offered a median wage of $76,540 per year in 2019.