Search
 

Treasury Triathletes

Looking to avoid creating one-trick ponies, a number of treasury departments are putting their staffs through job rotation programs

By Staff Writer | Updated on February 01, 2002

Late last year General Motors Corp. was troubled to learn of financial difficulties facing one of its parts suppliers. Thanks in part to a collapsing stock market, the vendor was staring at an underfunded employee-retirement plan, which ultimately might require a restructuring to cover the costs of making good on its pension liabilities. GM had a problem, which meant Kevan Parekh had a problem, too.

Parekh is a manager in the treasurer’s office for the world’s largest auto maker. Last December, as a member of a team responsible for deciding whether GM should continue to rely on this company for parts, he was being called upon to dissect the supplier’s pension difficulties as well as its overall financial strength. Sure, Parekh had an M.B.A.–he was Class of 1999 from the prestigious University of Chicago business school–but it wouldn’t be only that training he would draw upon to evaluate the dilemma. In fact, GM’s own foresight made it possible for Parekh to analyze more accurately the risk to his employer: Since working for the car maker, Parekh had been part of GM treasury’s job-rotation program and spent 10 months working in GM’s pension-funding and analysis unit. “It helped me understand the complexities of the problem and ask the right questions to come to the right solution,” he says today. A happy one, it turns out. The team concluded that the supplier, which Parekh declines to identify, was strong enough to survive.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.