Earlier this year, Oman-based global integrated logistics group ASYAD asked the ACT to design a bespoke training programme based on its popular A-Z of Corporate Treasury (AZCT) course. This was the second time that the ACT had partnered with the group to provide in-company treasury training, having previously done so in 2019.
The programme, delivered in-person over three days, was designed to cater for the needs of the company, while also focusing on the needs of the logistics and shipping sectors. In particular, it reached further into the wider finance teams as well as other subsidiary groups.
Within the group, the finance functions are integrated under a centralised structure to ensure consistency, efficiency and standardised processes across the teams. This enables the finance team to provide cohesive financial services and strategic support to various business units, which in turn fosters better financial management and decision-making.
The AZCT training course was identified as the most suitable course to help build a common level of understanding within the teams. As Nawras Al Suqri, executive assistant in ASYAD’s CFO office, says: “I am currently pursuing the ACT Certificate in Treasury. I took this qualification to enhance my understanding of treasury operations, to optimise financial performance and produce treasury-specific reports on cash management, forecasting, and investments. The AZCT aligned closely with the certification requirements and provided a solid foundation that deepened my understanding of key treasury concepts.”
ASYAD also wanted a training course that would meet a number of objectives, such as equipping participants with practical skills, including FX exposure and risk mitigation. It wanted the course to reinforce adherence to industry standards and best practice in treasury management as well as support career development through the exploration of treasury paths and ACT certification.
The results, it says, created a positive impact on team performance. The teams were “empowered with practical knowledge and skills”, with “enhanced understanding of industry processes”.
Al Suqri continues: “The materials were comprehensive, relevant, and effectively structured to cover key aspects of treasury. The content was up to date, with industry standards, tailored to the specific needs of our roles within ASYAD’s finance team.
“The delivery of the course was engaging and interactive, facilitated by knowledgeable instructors who brought real-world experience and practical insights into the sessions.”
Al Suqri adds that the approach not only enhanced understanding but also encouraged active participation and discussion. “Participants gained practical strategies that directly contribute to improving efficiency in cash management, risk mitigation, and financial operations, armed with a deeper understanding of FX management strategies,” Al Suqri says. “This enhances the team’s ability to make informed decisions and perform their roles effectively within ASYAD.”
The training, which was delivered by treasury consultancy firm Zanders, allowed for the opportunity to provide feedback to ASYAD on its own treasury operations and policy, as well as on the implementation and use of its treasury management system.
“The trainer praised ASYAD’s treasury policy and procedures for their sound management of the company’s risk appetite, practicality, and alignment with ACT standards,” Al Suqri says.
The ACT offers bespoke training and qualifications for treasury and finance teams. Find out more here.
Philip Smith is editor of The Treasurer
This article was taken from Issue 3 2024 of The Treasurer magazine. For more great insights, members can log in to view the full issue.