Establishment of the Slovak Association of Finance and Treasury

22 November 1996 can be considered the date of the establishment of the Slovak Association of Finance and Treasury. On that day, under the auspices of the Minister of Finance Sergej Kozlík, Governor of the National Bank of Slovakia Vladimir Masár, President of the Federation of Employers’ Associations Michal Ľach, and in cooperation with the AFTE (Association Francaise des Trésories dEnterprices), Slovak Banking Association and the University of Economics in Bratislava, the establishing meeting of a professional association for executives working across all aspects of treasury and financial risk management took place. The first impetus for its creation came from Ing. Vladimír Valach, Slovak Ambassador in Paris and President of the French – Slovak Chamber of Commerce, and Patrick Mesnard, Director of the Division of Economy and Procurement of the joint-stock company Chemlon Humenné, who mediated contacts with the AFTE and its President François Schlumberger. On 28 January 1997 the SAF was registered with the Ministry of Interior of the Slovak Republic.

At its first meeting held on 11 December 1996 the Management Board elected Ing. František Chvostaľ (Chief Financial Officer of the Chemlon, a.s. Humenné) the Chairman of the Management Board and the President of the Association, Ing. Ján Jurga (Chief Financial Officer of the company Slovenský plynárenský priemysel, a.s.Bratislava) the Vice-Chairman of the Management Board and the Vice-President of the Association and Ing. Virgil Farkašovský the General Secretary of the Association.

At the first general meeting the Council of Elders was established, which was led by Prof. Ing. Karol Vlachynský, CSc. from the Universityof Economics in Bratislava (also a member of the editorial board of the magazine Financial Manager). The members of the Council of Elders are above-mentioned Vladimír Valach and Patrick Mesnard, as well as the President of the Federation of Employers’ Associations of the SR Michal Ľach and the Director General of the Section of the Ministry of Finance of the SR Jozef Troják.

The SAF was registered with the Ministry of Interior of the SR as a civic association on 28 January 1997, which is also a legitimate date of the establishment of our organisation. Since its establishment the SAF has resolved to contribute to the strengthening of professional honour and generally to assist in the improvement of the status and authority of treasurers in Slovak enterprises, to consolidate their mutual solidarity and cooperation, and currently monitor and express its opinions on the new intentions, legislative changes and trends in the economic environment of the Slovak Republic. The Association deems necessary to take a closer look at the specific purpose of corporate treasurers, the object and purpose of their work, as well as their position within the enterprise and economy structure, and establish relations with similar national and foreign associations. Last but not least, the Association is focused on close cooperation with scientific world and academic institutions, organising professional seminars and brainstorming sessions, etc.

The Association and its membership is fully aware of the need for the existence of a platform for mutual professional and personal – human communication in today’s constantly changing and evolving economic environment and related issues. In the course of events corporate treasurers are often lone players and the Association has undertaken to change the fact even in close cooperation with public authorities and members of other professional associations. The aim is thus to engage the widest range of financial experts in the effort resulting in many suggestions and solutions the benefit of which will affect us not only as professionals, but also as the citizens of the Slovak Republic.