SLM 6011 Treasury Management
Treasury ensures that a company always has sufficient cash available to meet its needs. The objective of this course is to introduce participants to the key factors affecting cash management in a corporation and to understand the interactions with other functional domains within the organization.
The main proposition of the course is that treasury management is evolving from a merely auxiliary function towards a more strategic role. The responsibilities of the treasury department have gone beyond cash management, and include fund raising, bank & investor relations, and risk management advisory.
As a combined result of international activity and exposure to complex regulatory frameworks, multiple cash flows and cash “traps” have elevated the role of cash management and cash forecasting. Moreover, digital transformation and advances in data management have led to rapid changes in cash management instruments, payment methods, and how firms use cash as part of their business models. The 2007 financial crisis and the COVID pandemic have further accelerated this pace of change.
The course is entirely taught online within Insendi and uses primarily digital means for course delivery.
- To assess existing treasury management system in terms of key value drivers for strategy definition and implementation.
- To provide possibilities for improvement of an entity’s treasury management, including optimizing the interaction with other functional domains outside the finance function.
- To understand the importance of the treasury function regardless of whether a global or regional/subsidiary level of analysis is adopted.
The course consists of (guest) lectures, group-based casework and practical exercises, and an individual course paper. Lectures introduce the indicated topics conceptually and explore it in terms of managerial implications and the links to other areas of management. Course sessions cover three interrelated topical categories:
• Cash is Queen: How much cash should be held? - #level
- The role of Treasury and treasury centralization stages.
- Statement of Cashflows
- Cash forecasting
- Cash availability, visibility, and usability
• Cash in, Cash out! How to affect the level of cash? - #substitutes
- Cash conversion cycle (CCC)
- Funding alternatives of cash
• Towards a Strategic Role of Treasury - #performance
- Technological progress
- Scenario Planning
- Performance Measurement
- Strategic Implications
This course is the second course of a triplet called “Money Matters”. Nevertheless, each course can also be taken separately as a standalone course. The relationship with the first course – Financial Management - and the third course – Management Control - is in Cash is Queen (Topic 1) and in Strategic Role of Treasury (Topic 3). Specifically, the Statement of Cashflows is the link with Financial Management while Performance Measurement is the link with Management Control. The Treasury Management course closes with the initiating topic of the subsequent third course on Management Control.
Casework - Case work is group work, with groups having a size of 5-7 participants. Each group does two cases: one case for the topical category of Cash in, cash out, and one case for the topical category of the strategic role of treasury. The preparation phase of each case takes place on Insendi and includes the teacher for a-synchronous consultation and continuous feedback. To achieve maximum cross-learning effect among participants, all casework will be fed back to the class before the actual casework session. It is this consolidated file that forms the basis for casework grading. Case presentations and discussions feed into the participation grading category.
Individual Course Paper - The purpose of the individual course paper is to produce immediate learning returns at individual level. The method is to match course contents against each participant’s specific work environment. Course content is defined broadly and includes intragroup case and class discussions, not just reading and lecture materials. The individual course paper consists of writing up a short idea how and why a specific Treasury Management course topic might be used in one’s own work. A template for the individual course paper is provided in the course syllabus.
The online nature of the course implies both asynchronous (“in your own time”) collaboration within the groups, and synchronous collaboration during the plenary sessions with all groups. The teacher is member of all groups on Insendi and acts as coach & consultant in the asynchronous group activity. The course groups are autonomous in setting their online collaboration timeframe, calendar, and meetings, which will be followed by the teacher.
The list of literature for the course BIK 3124 Money Matters can be found here. See also the curriculum in the learning portal and additional information
In all BI Executive courses and programs, there is a mutual requirement for the student and the course responsible regarding the involvement of the student's experience in the planning and implementation of courses, modules and programmes. This means that the student has the right and duty to get involved with their own knowledge and practice relevance, through the active sharing of their relevant experience and knowledge.
In accordance with the collaborative, peer-to-peer learning nature of the course, it uses Insendi as its technology platform with an emphasis on its functionality of Materials (for passive purposes, such as obtaining and delivering/submitting materials) and of Team (for active purposes, such as collaboration and development of casework). In case of technological issues with Insendi (e.g., use restrictions due to company-specific cybersecurity), the course falls back on ItsLearning.
The course is part of the SLM course series, BIK 3124 Money Matters, which consists of the SLM courses SLM 6010 Financial Management, SLM 6011 Treasury Management and SLM 6012 Management Control. The courses are based on the course BIK 3124 Money Matters, 7.5 ECTS. If you have completed three courses from the same SLM course series, and meet the admission requirements to take the BI exam, you can take an exam within that course series, which gives a total of 7.5 credits.
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