[3] A company's treasury operation, typically, is under control of the CFO or Vice-president / Director of Finance; and in larger entities is under a dedicated Treasurer.
Essentially, a company needs to be able to meet its financial obligations as they fall due, i.e. to pay employees, suppliers, lenders and shareholders.
Looking after contacts with banks and rating agencies, as well as discussions with credit insurers and, if applicable, suppliers concerning periods allowed for payment, in conjunction with the procurement of finance, also form part of the treasurer's core business.
Treasury is then responsible for managing financial assets and liabilities, ensuring sufficient liquidity, and "capitalizing on market opportunities" [2] to maximize profitability.
Relatedly, the bank’s treasury is usually integrally involved in balance sheet management more generally, suggesting which currencies and terms are favorable from a funding perspective and which assets are required to meet various regulatory targets.
This is due to: an increased "focus" by banks (post crisis) on the clients they serve best; the availability of seasoned treasury management professionals; access to industry standard, third-party technology providers' products and services - tiered according to the needs of these (smaller) clients; and similar access to best practices and staff-training.