“I never planned a career in treasury,” says Chiver Tham, Treasury Manager at animal health company Zoetis and member of the Association of Corporate Treasurers (Singapore). “I stepped into this field out of curiosity – and it turned out to be a space that fits me better than I ever anticipated.”

Tham initially began his career with a role in financial reporting at a local bank in Singapore, before moving into a client relationship role at the same institution. “This was a more front-facing role, so it gave me a glimpse of what treasury is like – especially in terms of understanding the FX products that the bank offers, and gaining exposure to finance operations,” he recalls. “That opened up a door to treasury.”

When he heard about a role at a Japanese multinational corporation (MNC), Tham rose to the challenge and took his first step into the world of treasury. He subsequently joined an environmental solutions firm as a senior treasury analyst, before moving to Zoetis in 2017. The company, which was spun off from Pfizer in 2013, is headquartered in New Jersey in the US, and develops and manufactures animal vaccines and diagnostics. Zoetis generated US$9.3bn in revenue in 2024.

Today, Tham manages APAC cash management operations for the company’s global treasury centre in Belgium, alongside three colleagues covering other regions. As such, his responsibilities include cash management activities for the company’s subsidiaries in 15 countries across APAC, including account management, signatory management, treasury transactions and monthly netting settlements.

In this role, Tham acts as an interface between the global treasury team and local affiliates, as well as interacting with banks to resolve any issues encountered by business entities. Given the lean nature of the company’s treasury, Tham also supports treasury operations in other regions when needed.

Forefront of the organisation

Reflecting on what appeals to him about treasury, Tham explains that beyond the commercial side of a business, treasury is very much at the forefront of the organisation.

“What struck me very early on is how dynamic treasury is – every decision carries immediate operational impact, and perhaps long-term strategic implications,” he says. “As well as moving cash around the organisation, treasury is involved in raising funds to acquire other businesses and even expanding the business into different markets. I find this very attractive, because I feel I can have influence over how the company manages cash, and how processes and systems can be made more efficient.”

In his first treasury role, for example, Tham was involved in projects where even a single decision about the timing of payments could impact visibility over cash across multiple regions. “That was when I realised how immediate and strategic treasury decisions can be,” he says.

“The global nature of the work is also a big part of why I’ve stayed in treasury. If you’re working for an MNC, you collaborate with teams around the world. Treasury isn’t just about numbers – it’s about collaborating with people.”

In his current role, Tham says his most notable achievements include leading a project to automate bank account and signatory management. “Before the implementation, I had to manually record bank accounts and signatories onto the Excel spreadsheet – it was very cumbersome, and came with the risk of human error,” he says. “Because of this project, I was able to move the whole thing onto a system which reduces human error and synchronises well with our treasury management system.”

That said, Tham believes that quiet breakthroughs can matter just as much as major projects. As he explains, “The quiet wins – like digitising documents, organising files and helping colleagues navigate regulatory requirements – have all shaped the way that I work. It’s about staying curious and always looking for the next opportunity for improvement.”

Highlights and horizons

Discussing his approach to his role, Tham says he is particularly proud of building a reputation for reliability and effective partnership across the organisation. During a recent audit cycle, for example, Tham was able to respond rapidly to the auditors’ requirements because he had already organised and standardised the relevant files.

“This meant we were able to respond quickly and cleanly, which the auditors appreciated,” he recalls. “Whether it’s audit, or account structures, or fact finding about regulations in specific markets, I take pride in being someone that people can trust and depend on.”

This year, Tham expects much of his time to be taken up by the company’s migration to SAP S/4HANA, with other key areas of focus including exploring how AI can be harnessed to improve treasury processes.

“Right now, information is all over the place, so we need to collate it manually,” Tham explains. “Sometimes it takes time, because we have colleagues all over the world in different time zones. With AI, I hope we can improve the way that we collate information and improve our cash flow forecast.” He adds that if dividends are coming up, or an acquisition is on the horizon, AI could have a role to play in supplying real-time information on the company’s cash balances.

Looking forward, Tham says he is excited about the shift towards digital treasury more generally. “There’s a lot of talk about digital treasury transformations. I’m interested in looking into smarter loop systems, cleaner workflows, and maybe more connected global operations. I want to contribute in these areas, and hopefully I can bring some structure and simplicity – and perhaps the use of AI as well.”