Reflecting on the difference between accounting and treasury roles, Irene Wong says the world of treasury presents interesting challenges every day. “In accounting, things happen and then we record them. But in cash management, things happen immediately, so they need to be solved immediately,” she notes.

Born in Malaysia, Wong recently converted her citizenship to Singapore. She originally gained a diploma in accounting and had never heard of treasury before joining her current employer, Idemitsu Asia Pacific Pte Ltd, an energy trading company that specialises in oil trading and energy transition products.

“I joined the company in 2019. Then, in 2021, one of the team members moved to another department, and my manager asked whether I would be interested in changing my role to cash management, instead of continuing to do accounting,” she explains. “So I took the opportunity to do something different.”

Building knowledge and embracing challenges

When she moved into her new role, Wong’s manager – herself a treasury professional – suggested that Wong should join the Association of Corporate Treasurers (Singapore) in order to learn more about the broader scope of treasury.

“I joined in with some events, talks and seminars, and learned about the different areas of treasury, including cash management, risk management and M&A,” she says. “It’s a lot wider than I had thought!”

As Senior Accounts Executive in the company’s Finance & Treasury Centre, Wong manages cash using a pooling system that includes entities across Hong Kong, Australia, Singapore, Thailand, Vietnam and Indonesia. Her work includes ensuring that surplus cash is directed appropriately, making sure credit facilities are sufficient to cover any deficits, and collaborating with entities in different regions to address any cash-related challenges.

“What I enjoy most is that every day brings a new challenge,” she reflects. “When I worked in accounting, it felt like being in my comfort zone, without any surprises – but in treasury, every day is a surprise, with unexpected market movements and unforeseen situations. I enjoy knowing how to address challenges and solve issues.”

Technical skills

With a greater understanding of cash management and treasury, Wong has also become more focused on improving her technical skills. “Automation is very important right now,” she notes. “When I joined this company, a lot of things were still using Excel, but we’re increasingly using a treasury management system (TMS) to connect with the accounting system.

“There is a growing focus on automating processes and reducing manual workloads, so that team members can spend more time focusing on challenges and unforeseen situations. We’re always looking for any new projects that we can do to make better use of technology.”

As she advances in her career, Wong aspires to move into a role that will enable her to focus more on reporting and gain a deeper understanding of the treasury profession.

“A role in treasury makes me keep an open mind, accept challenges that are unknown, and also learn more about technical topics, including AI,” she concludes. “It’s not just about gaining basic treasury knowledge – I also need to understand systems and technology in order to move on in my career.”