Le magazine du trésorier - n°74 - 2ème trimestre 2011 - (Page 40)
IGTA/EACT Code of Conduct
Luc Vlaminck, Rémy Cointreau Group Treasurer, is an active member of EACT and lGTA. As such, it has recently launched the first principles of a Code of Conduct (CoC) for the treasury profession, kind of rules of the game. What lurks there behind this initiative? What are its goals? He has agreed to answer our questions.
Why do we need an international treasurer CoC? To define acceptable and unacceptable behaviors within the Treasury community, to promote high standards of practice and to provide selfevaluation benchmarks for members. Of course, this implies that a WW and/or European CoC (CoC) cannot address all specific situations, but the code should provide sufficient guidance to allow the reader to position himself in a specific context. What are IGTA/EACT plans? The plan is to propose NTA’s a CoC model that can be adapted to local specificities and requirements without changing the philosophy and principles and whereas common values are preserved. What are your objectives in creating a CoC? By promoting a WW and/or European CoC, we would like to insure that the Treasury Community speaks of one voice; and by this having a clear message addressed to all internal and external business partners but also to attract youngsters and to facilitate mobility of Treasurers. The CoC should be preserved as a reference document and should create visibility around treasury jobs. What about “ethics”? In our large corporate, we all have our own CoC and of Ethics. Do we need something more specific to treasury to be endorsed by NTA’s and their members? We are here at the intersection of two ethics areas, if I may say so. The first one being the Corporate Ethics and the second one being the Treasury Ethics. The Treasurer’s home work will be to ensure that both Ethics are compatible and cover complementary zones. Is this project compatible with existing NTA’s own (local) Codes of Conduct? As said earlier, the IGTA/EACT CoC should constitute the base of an NTA’s CoC.This means that the shared values and responsibilities have to be part of any local CoC. But on top of that, NTA’s are encouraged to add any specific point related to local environment. What would be your framework? The CoC should ideally cover the following areas: mission, general principles, values, compliance and support, guidance and eventually the enforcement part. It should represent a relevant and useful set of guidelines to ensure the profession of Treasurer continues to play a vital and ethical role in our contemporary finance business. It enhances the sense of community amongst members, belonging to a group with common values and a common mission. How to make sure these treasury principles are aligned or can be aligned to general corporate principles? Unless being active in illegal industry, we do not expect the Treasurer’s CoC to be in contradiction with the Corporate one. The Treasury CoC should be more perceived as an additional piece that addresses specific treasury situations. Of course, NTA’s will have to make sure that the specific Treasurer’s CoC does not contradict the Corporate CoC. Don’t you think it could be a code we could all adhere to, beside our own company principles? Yes, of course! But above that, I think that the Treasurer’s CoC could be a fantastic tool to promote our profession which is still much unknown internally and also outside of the company. What are in your view key values we should promote? Honesty, integrity, trust, competencies, confidentiality and independent judgment. These are the basic values I would like to see shared, but also making sure that they are transmitted to any new colleague wishing to enter the treasury world. As you can see, there is nothing that could potentially be in opposition with Corporate values.
Table des matières de la publication Le magazine du trésorier - n°74 - 2ème trimestre 2011
EDITORIAL - Le lac des cygnes …noirs
INTERVIEW - Luc Vlaminck, Group Treasurer Rémy Cointreau
FORUM OF ADVERTISERS
CORPORATE FINANCE - 15 minutes with MR Recruitment Mr. Mike Richards, Managing Director
Le magazine du trésorier - n°74 - 2ème trimestre 2011