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The Role of Today’s Treasurer

by Claudio Camozzo and Ernst Ohmayer, Co-heads, Global Transaction Banking, UniCredit

The two co-heads of GTB discuss the challenges faced by treasurers every day

What is the environment treasurers have to cope with today?

Claudio Camozzo: More than ever before, treasurers have to operate within a challenging and complex environment. Certainly, they have to work under pressure: on the one hand aiming to reach ambitious personal goals while helping their companies compete at a global level. They therefore need to carefully follow developments in their own sector. On the other hand, they are highly dependent on global economic developments, as well as the ever-changing regulatory backdrop, in all their relevant markets. A treasurer’s role is to be on top of all of these various environments, and to source concrete answers to often complex questions.

You mentioned regulations – SEPA, Basel III (LCR) and PSD 2.0 is still to come – which one has the most important and mutating impact on treasury?

Ernst Ohmayer: All of the quoted regulations have an impact on treasury. Their significance differs depending on the size and purpose of the company. Of course, SEPA is probably the most time- and money-consuming. It is also a game changer. Corporates need to plan the migration well ahead and must take into consideration various aspects, such as IT and customer communications. They need an expert by their side – a partner able to manage, together, such a demanding project. UniCredit is a SEPA bank. We have successfully accompanied many clients through the required SEPA migrations. Of course, this is also an opportunity for treasurers. Tackling these regulatory issues comes with a review of the monitoring and reporting landscape and helps them find further synergies within their operations.