The group was preparing for a significant period of change and felt it was the right time to establish a treasury function.
Cugavadi acted as the interim Group Treasurer as the new treasury function was established.
The project included the following activities:
- Selection & implementation of a Treasury Management System
- Set-up of virtual In-House Bank
- Design and implementation of cash flow forecasting model
- Development of Treasury Policies
- Dedicated training programme for the new Treasury staff
- Provide ad-hoc treasury consultancy services
A large international bank had recently acquired a new large Saudi customer and wished to organise a treasury and cash management workshop for the client.
Cugavadi participated extensively in the workshop as the external independent advisor and provided an insight into the latest in the field of treasury organisation, liquidity management structures and treasury management systems.
The group has selected a regional bank for both Europe and the Americas however was unsure regarding the bank account structures to be set-up in each region. The group also requested high level assistance in the selection of a Treasury Management System.
Cugavadi participated in an interactive workshop to determine the optimal bank account structure for both Europe and the Americas. We also arranged and participated in the demo and subsequent selections of treasury management systems.
Cugavadi provided a 3-day intensive corporate treasury and liquidity management workshop for the technical and business development staff of the organisation. This enables the company to provide better solutions to the financial services industry aimed at the requirement of today’s corporate treasurer.
The bank engaged Cugavadi to provide the following services:
- Provision of internal consultancy services to train cash management sales staff
- Assist is evaluation of completed responses to Request for Proposals
- Provide consultancy service to selected customers of the bank (sponsored by the bank)
MANAGING AND MITIGATING RISKS IN TREASURY
Corporate treasurers have a key role to play in managing and mitigating risk and supporting corporate governance within their organisations. This is especially so because treasury departments themselves are usually regarded as a high-risk environment.