President's Address

I am delighted to assume the role of President of the Irish Association of Corporate Treasurers this year. As a career treasurer, I have found, and continue to find such value in being an IACT member. I look forward to leading the Committee in continuing to provide technical support, representation and professional networking opportunities for the treasury community.

There is an abundance of varied treasury talent in Ireland. It continues to be an optimal location for Global and Regional Treasury Centres, evidenced by the number of multinationals and indigenous companies across all industries who base their treasury teams here. The IACT brings together this invaluable network for peer to peer benchmarking, sharing of best practices and diversity of thought across all aspects of treasury.

Unfortunately the tragedy of the Russia/Ukraine war continues and brings sustained geopolitical risk. Even as China reopens, supply chain constraints and some inflation associated with the pandemic begin to abate, treasury professionals are faced with interest rate, currency and inflation risk not observed for many years. Indeed, some treasury teams may not have seen interest rate levels like this in their career. In 2023 we also face the challenges of SOFR transition and the introduction of Pillar 2 – Global minimum tax rates. Treasury pencils will remain sharpened!

In facing such challenges, Treasurers develop a unique skill set. In recent times, Treasurers have proven their value in risk management, governance and adapting strategies to support the enterprise. As a career, treasury is multi-faceted and ways of working continue to evolve, helped by automation opportunity and availability of data analytical tools – I am a huge advocate for the treasury profession.

This year the IACT will support members facing the above challenges and in their professional development through technical trainings, in person and virtual briefings and social events arranged by our various sub-committees including Women in Treasury and Young Treasurers. We will progress our focus on education through the IACT Academy and partnerships with Irish universities and other professional bodies. In November we will again host the annual conference in the Convention Centre Dublin, bringing together industry experts, Corporate Treasurers, Services providers and Banking partners for 2 days of networking and knowledge sharing. After such a great conference in 2022, I have higher expectations for 2023 which will have double the capacity.

In closing, I would like to thank Meindert de Vreeze for his leadership in 2022 and the Committee for the hard work and commitment in delivering great content and events. In particular, I would like to thank Lorcan Travers and Emer Murnane for their significant contributions to the Committee as they decide to step down. We welcome Keira Agnew, Lorraine Keogh and Donna Foley to the Committee and Liane Egan who will support in an advisory role.

Thanks also to our members, patrons and sponsors for the continued support and participation.

I look forward to meeting you at an IACT event soon,

Aimee Cullen

President, IACT