Through this process, GE HealthCare identified six core treasury workstreams that it needed to stand up within the first year:

The corporate treasury workstream dealt with the company's capital structure and ratings-agency interactions, capital markets, domestic and international funding, bank relationship management, cash flow forecasting, and pension management.
The business treasury workstream covered global liquidity management, regional treasury operations, foreign exchange (FX) and commodity risk management, and treasury financial planning and analysis.
The global treasury operations workstream included bank account management, global payments and settlements, treasury systems management, and trade finance.
The risk management and insurance workstream included exposure analysis, loss prevention and mitigation, insurance negotiation and placement, and claims support and program administration.
The risk workstream covered customer and counterparty credit risk management, operational risk assessment and control, and policy development and governance.
And the order-to-cash workstream required design and oversight of the company's global order-to-cash process, as well as development of best practices in working capital management.

"We took a very data-driven approach—from system, process, and people perspectives—when looking at how to build our treasury," Claus-Landi says. "We would look at each of the different treasury processes we need to run, then build a plan around that process, depending on where we would need those capabilities throughout the world and which processes we would need to support. We started designing the organization that could best support day-to-day operations. And then we did benchmarking with some of our peers, with help from external treasury advisers."

Instant Insights /

Fabricating a Treasury Function from Scratch to Support an $18 Billion Business

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