Financial Information
How can I transition my career to become a treasury analyst?
Question : How can I transition my career to become a treasury analyst?
Thank you for reading my question.
I currently am employed for a retirement adviser and work as his para-planner. I have already attained my Series 7 certification and am currently studying for the Series 66. My role has evolved to the point that all my recommendations are generally proposed to clients regarding cash flow, short/long term investments, and budgeting.
That being said, I am not thrilled about my future prospects. I feel very limited by what I am allowed to recommend. After doing some research, I would like to get on a career track that would allow me to become a treasurer or controller (eventually CFO) in a financial institution. Basically, a role where I could make large scale financial decisions.
I have been told that the entry level position for my future goals is a Treasury Analyst. Given my current experience, what knowledge do I need to be able function in this position? I have a B.S. in Finance and am finishing my second degree in Accounting. I am also studying to take level I of the CFA exam next year. I have heard of the CTP (Certified Treasury Professional) certification, do I need this before I can start working?
Thank you for your help.
certified financial planner certification
Best answer:
Answer by Tatiana
If you posess a degree – or any extra qualification – then you’ll already be in front of of the crowd when it comes to searching for jobs. My buddy has a degree and he wasn’t sure what direction to go with it, but he found some good tips and tricks on the resource in the resource box below which aided him to decide that he wanted to be a lab assistant. There is lots of guidance on the resource regarding extra jobs.
I used to work in the treasury department of a large Fortune 500 company in Silicon Valley (a competitor to Yahoo, in fact).
The CTP designation is extremely important and is essential for career advancement in the treasury profession. Not many people outside the field are familiar with it, but that doesn’t make it less desired by treasury managers. Everyone who’s ever worked in or around a treasury department is familiar with the CTP. When we were hiring new treasury managers, the job requirements asked for a CTP OR CFA. Generally speaking, if someone has a CFA, which is more difficult to obtain, it’s understood that he or she either already knows what is required for the CTP, or could study for it in a very, very short period of time. If you have both certifications, as well as your relevant degrees, you’re almost guaranteed an interview.
In treasury departments, the hierarchy goes something like this (varies by company):
1. Treasury Analyst
2. Sr. Treasury Analyst
3. Treasury Manager
4. Assistant Treasurer
5. Treasurer
There is only one exam for the CTP, as opposed to 3 for the CFA, so my advice is to study and take it as soon as you can. That said, you don’t “need” a CTP certification before you can start working, but it will make you extremely competitive, since there were only a few professionals in our department that had it. If you were to get your CFA on top of your CTP, you would almost surely be overqualified for the entry-level role (but apply anyway), and may be tasked with assisting the Treasury managers with investment-related work (investing the company’s spare cash in liquid, relatively-safe investments like money-market funds and high-grade corporate bonds). There was only one guy in our entire department who was a CFA charterholder and he was involved with FX as an Assistant Treasurer.
I’m not sure what area you’re considering, but obviously, the larger the firm, the higher the salary for treasury professionals. Tech companies are known to pay particularly well in this field (granted California is expensive). If you do get both certifications, I’d skip the entry-level job descriptions and apply directly for the mid-level. Entry-level treasury work is very monotonous and would be an insult to your credentials, if I do say so myself.