In this series, we interview treasurers and younger treasurers about their careers, motivations, knowledge, and priorities. But also on tech, IT, and AI data science.
We kick off this series with Fabian Bohner from Germany, Treasury Manager at Peri SE. Fabian has recently earned a certificate in data science and it got us curious why he chose that.
Path to Treasury
Q: Can you tell us a little about your background and how you ended up in the field of Treasury?
Studied business administration with a focus on finance and IT. I took some modules at my university in the field of bank treasury and did an IT semester abroad in Dundee, Scotland. I jumped right into corporate Treasury after graduating.
Q: What drew you to a career in treasury, and what do you find most rewarding about it?
A practice semester in 2010 within an international robotic manufacturing company during their refinancing due to the aftermath of the global financial crisis/euro crisis. Corporate Treasury has connections to all other departments and is, from my point of view, the true heart of a company.
Treasury and IT Integration
Q: How do you see the relationship between Treasury and IT evolving in today’s business environment?
Treasury Management Systems being the standard and the acceleration in the last years in IT, the impact on Treasury is getting more and more.
Q: Can you provide some examples of how technology has impacted your work in Treasury?
Automation of repetitive tasks and straight-through processing wherever possible to leverage human brain activities to solve complex problems.
Q: What are some of the main benefits and challenges you’ve encountered with the integration of IT in Treasury functions?
If there is no understanding of the benefits of IT usage, it is usually quite difficult to convince several stakeholders. Often, IT speaks a different “language” than Treasury/Finance.
Role of Data Science in Treasury
Q: What motivated you to take a course in data science, and how has it influenced your work in treasury?
For me, IT is a crucial part for getting things done efficiently in Treasury. Data is the new gold and with Data science, you can dig for it. In Treasury I can see the most benefits in cash flow forecasting, FX risk management and fraud prevention.
Q: Can you share any specific projects or tasks where your data science skills have been particularly useful?
Automated cash flow forecasting via machine learning based on SAP financial data (debtors and vendors).
AI and the Future of Treasury
Q: What role do you see AI and machine learning playing in the future of Treasury?
From my point of view, AI and machine learning come to stay. You either adapt and start working with those tools, or you lose your edge. AI-based cash flow forecasting will be the standard part of Treasury Management Systems in a few years.
Q: What advice would you give to young professionals or students who are interested in pursuing a career in treasury with a focus on data science and AI?
Be aware that there are Corporate Treasury departments out there. Get your hands on Treasury as working student or during practical semesters. Try combining IT and Finance and start tinkering with data science and AI.
Conclusion
Q: What are the key takeaways from your experience that you’d like to share with our readers?
Treasury is the best profession you can take 😉
Also Read
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