Treasury Assessments: What to Review and How Often

In this episode of The Treasury Update Podcast, host Brian Weeks welcomes Paul Galloway, Senior Advisor at Strategic Treasurer, to discuss the critical role of treasury assessments in modern financial operations. The conversation covers four primary types of assessments: broad organizational evaluations, bank structure reviews, treasury systems evaluations, and payment security audits. Galloway emphasizes that assessments are not one-time events but should be conducted periodically to keep pace with evolving technology, regulatory demands, and emerging threats like AI-powered fraud. He highlights the growing importance of cash forecasting, risk management, and bank fee analysis as key areas where organizations benefit from expert assessment. The episode also outlines actionable outcomes, including improved efficiency, stronger internal controls, faster fraud detection, and better cross-functional communication. Galloway provides a detailed roadmap for how often each assessment should be performed: monthly for bank fees, annually for payment security controls and policies/procedures, every three to five years for bank RFPs, and every five to seven years for treasury management system RFPs. He stresses the importance of continuous training, updated response plans, and ongoing system pressure testing. The discussion underscores that proactive, periodic assessments are essential for maintaining resilience, optimizing treasury operations, and safeguarding organizational assets in an increasingly complex financial landscape.