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The concept of Treasury Culture as introduced in the book is a thought and action process essential to the path of Treasury Leadership. This involves creating the right mindset and environment for the employees of the Treasury function to work together and with other functions to produce best possible results and service standards. Practically, this includes equipping the employees with the right knowledge, skills, tools, empowerment, atmosphere and attitude to generate best results.
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A good Treasury culture can explain the difference between two high-performance Treasuries – one, a high-speed cutting edge and efficient Treasury where motivated employees make everything appear smooth and well-oiled, with zero defects, prompt service and turnarounds to other functions, and a fun environment at work - where a Treasury role is a sought-after one in the firm; the other, a good well-organized Treasury where employees are stretched and work over time under intense pressure to deliver the same results, where Treasury is perceived to be a ‘silo’ support function that burns the midnight oil.
The steps to initiate and develop a Treasury culture are relatively simple, and a few key qualities and skills inculcated into the Treasury team over the course of their initiation. This is done through example, top-down, through the actions and the approach of the Treasurer himself or herself, and through training, simulation and coaching. Figure 3.1 summarizes the different elements of a Treasury Culture.
It is important to note that these elements of Treasury Culture are enablers that work along with Professional/job competence and skills to increase the effectiveness of the individuals and the team within Treasury
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