The Evolution of Treasury: From Department to Enterprise-Wide Process
by Bas Rebel, Senior Director, Corporate Treasury Solutions, PwC Netherlands and Nick Axton, Senior Manager, Corporate Treasury Solutions, PwC UK
The role and responsibilities of treasury beyond the departmental wall have been transformed since the financial crisis. The crisis gave textbook concepts like counterparty, systemic and liquidity risk a real face and put them – and therefore the critical role of treasury – into the spotlight.
The direct crisis management actions that treasurers took in the months after the crisis have now been replaced with a focus on long-term solutions, transforming the treasurers’ role further.