How is treasury, both as a function and as a profession, developing in Greece?
The treasury function in Greece has evolved significantly over the past four years since the creation of the Hellenic Association of Treasurers (HAT), driven by regulatory changes, digital transformation, and shifting economic conditions. Historically, the treasury function was often seen as a back-office role primarily focused on cash and liquidity management. However, today’s treasury professionals are much more strategic, contributing directly to financial decision-making and risk management.
With an increasing turbulent socio-economic multipolar environment, Greek companies are aligning their treasury operations with international best practices. The role of treasury is no longer just about managing cash flows but also about enhancing operational efficiencies, ensuring compliance and optimising working capital. The adoption of digital tools, automation, and analytics has further elevated the profession, making it more dynamic and integral to corporate strategy.
What key trends are you seeing in NextGen treasury?
The NextGen treasury is shaped by a few major trends that are fundamentally redefining the profession. First and foremost is digitalisation. Technologies such as artificial intelligence (AI), machine learning, and use of Python, other programming languages, and PowerBI analytics are playing a transformative role in how treasury teams operate. These tools enable real-time data analysis, predictive forecasting and enhanced fraud prevention.
Another key trend is the focus on sustainability and ESG (Environmental, Social, and Governance) factors. Many organisations are incorporating ESG considerations into their treasury policies, ensuring that investment and funding strategies align with sustainability goals.
Additionally, there is an increasing emphasis on agility and resilience. The global economic landscape is volatile, and companies need to be prepared for unexpected disruptions. Treasury professionals are focusing on scenario planning, risk assessment and business continuity strategies to navigate uncertainty effectively while achieving the most efficient cash conversion cycle.
Finally, collaboration across departments is becoming more essential. Treasury is no longer working in silos; it is engaging closely with procurement, finance, and even IT teams to drive value across the organisation. This cross-functional transformative approach ensures better decision-making and alignment with corporate objectives.
How does the Hellenic Association of Treasurers support treasury internships and why is this important?
Internships are crucial for several reasons especially for our market, both for the interns themselves and for the companies that host them. From a student or young professional’s perspective, internships provide invaluable hands-on experience, allowing them to apply theoretical knowledge in a real-world setting. This exposure helps them understand how treasury functions operate and what challenges and opportunities exist in the field. We see interns who have had the opportunity to work both in a bank treasury and a corporate treasury before they start their fulltime jobs better understand the dynamics of managing “opposite” balance sheets in the respective two sides of the economic system.
An overnight corporate deposit for a corporate is considered an asset while for a bank, it is a funding source and therefore a liability. This “double” experience provides a holistic perspective of the economic landscape and therefore it supports young treasurers to understand and incorporate faster any macroeconomic developments into their microeconomic business strategy.
Most importantly, for companies, internships serve as a pipeline for talent development. They offer an opportunity to identify promising individuals who can bring fresh perspectives and innovative thinking to the organisation. Many businesses use internships as a recruitment tool, giving interns a chance to prove themselves and potentially transition into full-time roles.
Moreover, internships contribute to the broader professional ecosystem by fostering a culture of continuous learning and mentorship. They help bridge the gap between academia and industry, ensuring the next generation of treasury professionals is well-equipped with the skills and knowledge needed to thrive in an evolving financial landscape.
At the Hellenic Association of Treasurers, we strongly support internship programmes both in banks and corporate treasuries and finance departments as we believe they are instrumental in shaping the future of treasury and finance in Greece through local university programmes in Greece and international programmes through the Erasmus+ programme. Encouraging young professionals through our association’s network to explore the field and gain practical experience is a step toward a more robust and innovative treasury profession.
In addition, we are launching for the first time this year a separate hybrid event called ‘HAT Young Treasury Leaders’, where representatives from major financial institutions, banks and corporates connect with students and young professionals and discuss opportunities around education, innovation and employment in treasury and finance departments.
Finally, in 2024, we introduced our very own HAT research group, comprising undergraduates, postgraduate students and young professionals, who together with senior leaders of our association, are focusing on statistically analysing macroeconomic developments in Greece, Europe and the world and how these are affecting our country’s treasury profession.
In these ways, we are continuously creating opportunities for young professionals who would like to consider employment in the areas of banking, corporates, research, continuous education or obtain international experience and return to Greece at a later stage as many Greeks have done in recent years.
