A treasury assistant applies business acumen and investment skills to ensure that a corporation's cash management procedures are adequate and functional. A treasury aide works under the guidance of a senior professional to review corporate billing and payment activities. He typically holds a four-year college degree in business or finance.
A treasury assistant works under the leadership of a department head to ensure that cash management systems, such as billing and payment mechanisms, are adequate, functional and established in accordance with top management's recommendations and human resources policies. A control is a set of directives that the treasury department head puts into place to prevent operational losses resulting from regulatory noncompliance, employee error or neglect and technological malfunction. A control is adequate when it clearly instructs staff on how to perform treasury tasks. It is effective, or functional, when it provides appropriate solutions to internal control weaknesses.
Education and Training
An assistant treasurer usually has a four-year college degree in cash management, business, finance or accounting. A professional with a liberal arts background is not uncommon in the field. A treasury aide who holds significant managerial duties can have a master's or doctorate degree in finance or investment analysis. Alternatively, she may hold a professional certification such as the certified public accountant (CPA) or certified treasury professional (CTP) designation.
A treasury assistant's compensation levels typically depend on staffing needs, the industry and company size. Personal factors, such as seniority, length of service, academic training and professional certifications, also may affect an assistant treasurer's remuneration. The U.S. Department of Labor indicates that median wages of treasury assistants were £64,564 in 2008, excluding annual bonuses and stock options, with the middle 50 per cent of the occupation earning from £46,819 to £87,795.
A treasury assistant's chances of promotion usually depend on economic trends, corporate staffing needs and seniority. An undergraduate assistant treasurer can seek an advanced degree, such as a master's or doctorate, in finance or economics to improve career growth opportunities. Alternatively, he may seek the CPA, CTP or certified financial manager (CFM) designation, in which case he needs to comply with minimum continuing education requirements on an annual basis. A competent treasury aide moves to a senior role in three to five years.
A treasury assistant works a typical 8 a.m. to 5 p.m. schedule on weekdays, but business conditions occasionally may require an extended presence at the office. These conditions may be monthly accounting close procedures or quarterly and annual regulatory filings with the Securities and Exchange Commission (SEC) and the Internal Revenue Service (IRS). She also may travel to work with colleagues at other corporate locations.