This is a YouTube video titled "The Importance of People and Systems in Treasury with Janko Hahn" containing a detailed monologue by Janko Hahn recorded in June 2023. The content focuses on treasury management, emphasizing the importance of trust, cooperation, education, and cross-disciplinary knowledge in finance teams. Janko Hahn discusses the development of treasury education programs and the value of fostering independence and innovation within treasury roles. The video is a professional talk or presentation rather than a conversation.
Foreign the company in 2010, so to say, we had the big crisis from 070809 behind us. That was also true for the division Automotive, which was now Autoneum. Everyone in the organization or in the finance organization knew already at this point of time that a good relationship with treasury is important and that treasury needs to understand the needs of the legal units and that treasury is cooperative and supportive if communication is honest and transparent and clear about needs, reasons and requirements for special needs. And I just can say that since then, we never had perhaps one or two exceptions. I mean, it's always not only, it's not only targets or topics or money, it's also atmosphere and chemistry. And of course, you have always cases where chemistry is just not working. Yeah. And so I can say that in 95% of the cases where we have our stakeholders in the finance teams and the legal units, it's working very good. They understand us, we support them. They know they get the cash from us. We know they are precise with the outlooks as far as they can. They are close. So I can say that in 95% of the cases where we have our stakeholders in the finance teams and the legal units, it's working very good. They understand us, we, we support them. They know they get the cash from us. We know they are, you know, precise with the outlooks as far as they can. They are precise and honest with the requirements, with the reasoning. And yeah, it's, it's a good atmosphere. It's a good cooperation in finance. I can say, I would say, indeed, we have a good team, it's a good cooperation. And I think the most important success factor perhaps was this more to say. I'm not sure if laissez faire is the right word, but perhaps it fits that you say, you, you, you know, you, you realize that you have a good atmosphere, you have trust. When you have trust, you can say, okay, let's design the targets for the coming year or the coming years together, make sure, of course, the CFO supports them and then, you know, let people go, give direction and to the target and then let them go. And if they feel the trust and the confidence and the freedom to work in their own directions, in their own speed, on own priorities, then I would say these aspects are a big factor for success. So giving them freedom to act independently, showing them perhaps the targets or the way, but then let them go and get the things done in their style. One very important aspect, just because it's important for me, and I think it's the Same importance for the team is to make sure they have the education they need. That means you shouldn't stop at a cash management education level if you are in a Treasury manager role or whatever the title is. I mean, that's the relevant point. But you need to make sure they have the information, the knowledge, the capabilities. They need to be not just making their job, but to thinking ahead, thinking outside the box, doing the next step, coming with new ideas, coming with better ideas. And so education, I think, or you know, it could be participation in conferences because I think this is very important to network and to exchange with peers and other aspects is indeed trainings. And what I realized together around four or five years ago with the colleague who was also, who's also a treasurer, was that we are missing, we the two of us, we are missing education in the area of tax or legal aspects in treasury and around treasury, like transfer pricing aspects, company law and such aspects. Because you realize, and I think that's so fascinating about treasury, treasury is not an island. You have to do with everything. You need to know a bit about tax, you need to know a bit about legal, you need to know a bit about controlling and so on and so on. So treasurer is not only a treasurer, he's really having multiple aspects in the, in the capabilities or that's a requirement to have. And so we went to the EFZ in Zug that's part of the Horseshule Lutzern here in Switzerland and told them that we said, hey, you are doing the education as a Swiss certified treasurer, like you have the VDT in Germany doing something. And so we went to the EFZ in Zug that's part of the Hochschule Lucerne here in Switzerland and told them that we said, hey, you are doing the education as a Swiss certified treasurer, like you have the VDT in Germany doing something like this, or you have now you have Schwabe like Reiner like this or you have now you have Schwabe like Reiner doing treasury educations. And so we said why don't you do a shorter course at lower budget doing treasury educations? And so we said why don't you do a shorter course at lower budget with more specific qualifications in regards to treasury and to tax and legal aspects around treasury and then they like this with more specific qualifications in regards to treasury and to, to tax and legal aspects around treasury and then they like this idea. And after some discussions a half year later, so it was really decided that they want to do this idea. And after some discussions a half year later. So it was really decided that they want to do this. And so this year actually just some some days and so this year actually just some some days ago, the 4th course, 4 years we had this course now with between 12 and I think 18 participants or so was, was complete ago the 4th course, 4 years we had this course now with between successfully again. And I think that's, that's a nice track record because they also say, well, not every practice course we offer is always 12. And I think 18 participants or so was, was completed successfully again. And I think that's, that's a nice track record because they also say, well, not taking place because there are not sufficient registrations, you know, to make it happen. And not every practice course we offer is always. Now this course was successful for four years, so obviously we had the taking place because there are not sufficient registrations, you know, to make it happen. And now I don't know, between 50 and 60 or so or 70 participants. Now this course was successful for four years, so obviously we had around, I don't know, between 50 and 60 or so or 70 participants who enjoy to develop new facilities and aspects and insight, so to say, about different aspects of and around treasury. And I think that's, that's, that's great, you know, who enjoy to develop new facilities.
