Treasurer’s Retreat 2023
The 2023 ACTA Treasurers’ Retreat, which concluded last week, brought together treasurers from various organizations to delve into a range of significant issues that have a direct impact on the roles and responsibilities of treasurers and the functioning of their respective treasuries.
The Economy –
One of the key areas of focus during the retreat was the state of the economy. Treasurers recognized that the economic landscape is currently at a crucial crossroads, with various complex dynamics at play. Among these dynamics are tight labour markets, which extend to treasury personnel, posing challenges in talent acquisition and retention. Additionally, inflation levels have risen and seem to be persisting at elevated rates, which has implications for financial planning and risk management. The prospect of higher interest rates is a matter of concern, and treasurers discussed how this shift might affect the yield curve, thereby influencing their strategies for funding and hedging in the upcoming year, 2024. Furthermore, the retreat emphasized the ongoing transition in the energy sector, acknowledging its transformative potential and the need for treasurers to adapt to these changes.
Treasury Operating Models –
Another critical topic addressed during the retreat was the evolution of treasury operating models. Treasurers recognized that Chief Financial Officers (CFOs) are increasingly expecting treasurers to contribute strategically to their organizations and collaborate closely with the business units. This shift toward greater strategic involvement is labour-intensive, prompting discussions on methods to enhance productivity. Digitalization of treasury workflows emerged as a potential solution to free up resources and streamline operations. Participants also acknowledged that treasury operating models designed in a more stable and predictable business environment might not be suitable for the evolving landscape. As a result, treasurers are now contemplating the need for a change in mindset and skill set within their treasury teams to align with these new expectations and requirements.
Around the Grounds –
The retreat provided an opportunity for treasurers to engage in in-depth discussions about their specific priorities, opportunities, and challenges. They received valuable feedback from their peers, allowing for a collaborative exchange of ideas and approaches. This interactive component of the retreat was essential in fostering a sense of community among treasurers and supporting the continuous improvement of treasury functions.
Australian Bond Market Reform Working Group –
Additionally, the retreat saw strong support from treasurers for working alongside the ACTA (Australian Corporate Treasury Association) to support the organization’s advocacy efforts in the Australian Bond Market Reform Working Group. This collaborative effort highlights the commitment of treasurers to advancing their profession and contributing to the broader financial landscape.
In summary, the 2023 Treasurers’ Retreat served as a platform for treasurers to address and deliberate on various significant topics, including the economic landscape, treasury operating models, and the need for adaptability and collaboration in the ever-changing financial world. It provided a valuable forum for knowledge sharing and collaboration among treasurers, as well as an opportunity to support the advocacy efforts of their professional association.
Thank you to our event partners Commonwealth Bank, Kyriba, Fitch Ratings, and Ripple for their support of the Treasurers Retreat in 2023.