FFP: At the heart of the bank, Treasury – hectic and fun

Meet Antti and Tuomas, hear about their time as FFPs at Nordea, and get to know the Treasury department.

By Antti and Tuomas

Two months in to the FFP programme, time has come for us, Antti and Tuomas, to introduce you to the Treasury department – and to us. In this blog post, we will tell a bit about what we do and what it is like to work here at Nordea in Helsinki.

Firstly, let us start the post with a small introduction to the organisation that we work in, since it might be a bit unfamiliar to some. Group Treasury & ALM (TALM) is the unit ultimately responsible for the bank’s treasury operations and asset and liability management. The main aim is to ensure a strong, sustainable and compliant balance sheet.

The unit where we work is called Banking Book Risk & Short-term Funding. Here the main goal is to provide cost-efficient funding and liquidity to all business areas while simultaneously keeping the bank’s interest rate risk under control.

More specifically, our own team’s prime roles are the issuance of CD/CPs and other money market activities, handling the group’s liquidity in several currencies, internal funding for group units, and different internal bank activities.

With all this coming together at one place, working in Treasury really gives you an inside look into the whole funding process in the bank. This gives you a good understanding of how many different things need to be accomplished to secure a strong balance sheet.

Now, a little bit about who we are:

Tuomas Lindeman (25) – Assistant Analyst, Short-term Issuance & Liquidity Management

I am a recent graduate from the University of Vaasa where I studied Finance. Previously I have worked in a few different corporate treasuries, so it has been extremely rewarding to experience the treasury department and operations also from a bank’s point of view. Although the main idea behind is the same, I have now learned how much bank treasuries still differ from corporate treasuries.

The job itself is very interesting as you get to be at the forefront of the financial markets. As we work in the front office, days are filled with making lots of FX and money market deals mainly on the interbank market, which is something I now find fascinating and enjoyable.

As told in the intro, one of our key responsibilities is the liquidity management of the whole group and this is also something Antti and I are heavily involved in on a daily basis.

Antti Jormalainen (22) – Assistant Analyst, Short-term Issuance & Liquidity Management

I’m fourth year student in University of Vaasa where I study Finance as my major. Previously I have been working as a controller trainee and treasury audit trainee, so the biggest insight for me so far is the same as for Toumas; To learn how treasury works in a bank.

What I have learned the most from here at the Nordea Group Treasury is how important efficient funding and daily liquidity is to our operations.

Although we are at the front office and my daily work is mostly FX and money market dealing, we need to be aware of every market movement. Since we are dealing over 25 currencies around the world, it forces you to be aware of the factors which are affecting these currencies and therefore to our internal pricing.

This job requires both analytical and communication skills. What I like in our daily work is that I can analyse the market prices and act based on that. Also, this makes every day different in my work. And like Tuomas said, dealing with the large banks and institutions on the interbank market is sometimes quite hectic but at the same time very fascinating.

Our work is appreciated – and we have a lot of fun doing it

If you are interested in how bank’s asset and liability liquidity works and want to be on the front seat on the money markets, short term funding is one key place to be.

Overall, in the FFP program you get a lot of responsibility from the beginning and there are plenty of events organized outside of work where you get to socialise with your fellow FFPs, which is a lot of fun. You also really get the feeling that the work you do is appreciated and recognized and most importantly, you have a lot of fun doing it with great colleagues!

NB: Don’t hesitate to be in touch if the inner workings of the treasury department interest you, we’ll be happy to answer any of your questions!

Br. Tuomas & Antti

Meanwhile, you can read more about the life as FFP at Nordea here in our Career site, where you among others can meet some of Antti and Tuomas’ fellow FFPs telling about “Being part of datafying banking” or read the blog “Summer is here – some talents use it to get smarter“.

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