by Ulrike Saitz, Operations Manager of the German Treasury Association
From the beginning …
The German Association of Corporate Treasurers (Verband Deutscher Treasurer e.V. or VDT) was founded in late 1997. The start-up work was mainly triggered by modifications to the German Corporate Act and the Uniform Commercial Code, establishing the obligation on companies’ management to implement an enterprise wide risk management system. Treasurers manage financial risks and, accordingly, have to deal with the impacts of the new legal requirements. Discussions started about risk management methodologies, appropriate processes and controls, reporting requirements etc. These discussions and the increasing importance of professional treasury operations in Germany pointed out the need to establish a common platform for all treasurers to share information and define professional standards, from treasurers for treasurers. That was the starting point for VDT, founded by a few treasury professionals.
… to our current structure and activities
Today our members are more than 700 treasurers and finance executives from over 450 companies based in Germany, Austria and Switzerland, comprising multinational groups as well as middle market enterprises, but also banks, vendors of treasury systems or consulting and audit firms.
VDT has been represented in international organizations since April 2001 as a member of the European Associations of Corporate Treasurers (EACT).