Opinion

Competence-based training alone not appropriate for treasury

Training on the job gives a lot of possibilities when practical skills are completed with a professional certificate in the field of risk management, cash management or other relevant fields. This can be sufficient in many situations. However, in complex environments where risk and difficult strategies play an important role, more expertise and knowledge may be necessary.Competence-based training alone is not well-rounded enough for a fully-fledged programme of education for treasury.

ABNAMRO: THE STAND-ALONE SCENARIO

We are not saying that some stand-alone scenario is the best solution for ABNAMRO. We are simply concerned that insufficient focus has been given to alternative scenarios. This would involve specifying and delivering value-creating change resulting in increased cash generation. The ABN AMRO shareholder’s meeting of 20th September would have been an opportunity to consider alternative scenarios – but this was not to be. If top management is unwilling to articulate this themselves, the case for an independent committee of shareholders with works council representation, seeking a cash flow maximizing solution is justified.