From process optimization to treasury expertise: a project consultant's journey through a critical transition

Navigating a Transitional Period

Based in Europe, the company specializes in creating and distributing a diverse range of imaging and technology solutions. With divisions dedicated to digital media and industrial IT services, it serves clients across multiple industries. The company operates globally, with production and research hubs in several continents and a network of local offices and representatives extending its reach to over 40 countries.

Amid a transitional phase in the treasury department, the company sought an experienced Treasury Analyst to fill the gap between the departure of the previous analyst and the onboarding of a new one. Having worked with TriFinance on previous successful projects, the client was already familiar with the quality of service and expertise provided. This established relationship led them to reach out again, confident that TriFinance could quickly supply the right person to ensure the seamless continuation of their treasury operations.

The analyst’s role description included overseeing currency positions, managing daily liquidity, and foreign exchange, and money market transactions. The analyst was also tasked with providing in-depth analysis and reporting on currency risks to support informed decision-making in risk management.

Other critical duties included bank account management, optimizing cash management systems, monitoring global payment systems for improvements, and conducting bank fee analysis to ensure financial efficiency. Oversight of bank guarantees and pension fund management was also required, alongside contributions to key corporate treasury projects. Close collaboration with other departments ensured treasury function alignment with the company's broader financial objectives.

Ensuring Stability and Driving Operational Efficiency

In April 2024, Joke Van Belle, CFO Services consultant, started as a Treasury Analyst. Initially, her involvement was planned for three months to provide interim support to the treasury department during a transitional period. However, due to the complexity and scope of the tasks, the assignment was extended for an additional month, resulting in a total of four months of active contribution.

During this time, Joke was responsible for ensuring the continuity of key treasury functions, managing daily operations, and maintaining the stability of the department until a permanent Treasury Analyst could be onboarded. 

Her role encompassed several key responsibilities:

• Daily liquidity management: managing the group’s liquidity daily, ensuring the reconciliation of bank statements, and overseeing the cash pools.
• Foreign exchange and money market transactions: handling currency and money market transactions with various banks, ensuring the group’s liquidity and currency requirements were met efficiently.
• Managing currency positions: managing the currency positions of both the group and its subsidiaries through hedging activities. This involved monitoring exposures and executing appropriate hedging strategies to minimize risks associated with foreign exchange fluctuations.
• Analysis and reporting: analyzing the group’s currency risks and the performance of hedging activities, providing detailed reports to senior management. These reports helped inform decisions related to risk management and financial planning.
• Bank account management: managing the group's bank accounts, including new account implementation, ensuring compliance with Know Your Customer (KYC) regulations, and maintaining proper documentation.
• Cash management optimization: following up on and optimizing the group’s cash management structure. This included negotiating terms and conditions with banks and identifying opportunities to streamline and improve existing processes.
• Global payment systems: monitoring developments in global payment systems and proposed suggestions for further optimization. This included exploring opportunities related to electronic banking and Swiftnet-implementation, which could enhance the efficiency of our payment operations.
• Bank fee analysis: Conduct regular follow-ups and detailed analyses of the group’s bank fees to ensure cost-efficiency and optimize financial outflows.
• Bank guarantees and facilities: managing of bank guarantees and the guarantee facility, ensuring that these financial instruments were used effectively to support the group's operational and financial needs.
• Pension fund management: involvement in financing and managing the group’s pension funds. This included assisting with the daily management of these funds, ensuring their financial stability and appropriate asset allocation.
• Participation in corporate treasury projects: participation in various corporate treasury projects, including those related to group financing, cash management policies, and hedging strategies. The TriFinance expert’s role in these projects required her to collaborate closely with senior management to ensure the group’s financial strategies were aligned with its overall business goals.
• Collaboration with other departments: In addition to her core responsibilities, she worked closely with other departments to provide advice and guidance on cash and FX management. This involved cross-functional collaboration and offering strategic insights that helped inform broader business decisions.

Joke Van Belle played a crucial role during a transitional phase at the company’s Treasury Department. The company needed an experienced Treasury Analyst to bridge the gap between the departure of the previous analyst and the onboarding of a new one. Joke managed the handover process with the incoming Treasury Analyst, ensuring that all essential tasks, systems, and procedures were effectively communicated. This extension allowed her to provide additional support in optimizing processes and enhancing the team’s capabilities.

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