At Miden, financial infrastructure isn’t just about codes and APIs.
Behind the numbers, well-balanced sheet, and innovative products is a team making calculative decisions to keep the engine running and growing.
One of the key people driving this engine is Richard Ize, the Chief Treasury Officer at Miden.
Let’s step into his shoes for a day.
A Day in the Life of Miden’s Chief Treasury Officer
In a recent interview with the brand and marketing team at Miden, Richard pulled back the curtain on what it means to lead treasury operations at a fast-moving fintech company and how his role helps shape Miden’s financial strength from the inside out.
“Treasury covers everything from cash management and liquidity planning to banking relationships and financial risk,” Richard explains.
The goal is to establish a solid financial structure that ‘supports the day-to-day operation, drives long-term growth, ensures revenue generation, and maintains financial stability of the company.’
While the treasury team often operates behind the scenes, especially in fast-paced startups where product, engineering, and growth take center stage, Richard Ize gives us a rare, inside look at what a typical day in his life looks like, from the moment he gets out of bed to when he finally logs off.
“The first thing I do is review the liquidity position of the entire company across all our accounts and holdings.” He explained.
This means I’ll have to “know our daily cash position, how much we own currently, understand how much of it is locked, how much of it is free for operational use and daily operations in terms of expenses, investments, and also trading.”
“That sounds like a lot”, the interviewer remarked. And that’s just the beginning.
His day is also filled with countless meeting engagements with other teams - from finance, to product, settlements, and compliance. He also undertakes market surveillance and responds to real-time market conditions.
“Everything I do is market-driven,” Richard says. “Our decisions, whether to invest, hold, or trade, are all guided by what’s happening in the economy and the foreign exchange landscape.”
Throughout the day, Richard stays in constant contact with external stakeholders beyond the company, from “whom we buy from, who we sell to, who we invest with, and who we keep funds with.” And in a fast-paced company like Miden, this can be quite overwhelming.
The interviewer couldn’t resist asking, “In my opinion, everyone thinks treasury is all about managing money”. Richard chucked with a knowing confidence. To me, the interviewer said, the first thing that comes to mind when I think of the word treasury is kolo, i.e., the Yoruba name for a piggy bank.
The interviewer further questioned, “What is something about treasury operations that most people outside your team wouldn’t know, but should?”
“People think treasury is all about moving money between banks, but it’s also about managing financial risk”, Richard replied with a hint of amusement. “Growing up, people always trusted me to hold their money. Even in high school, classmates would give me their savings because they knew I’d manage it well. That sense of trust and responsibility has shaped how I approach my work today.”
For example, imagine “we raise money in USD but most of our operations are in Africa, where we have local currencies like Naira, Cedis, and more. The question is, what form should we keep the money raised, especially when you’re considering how external factors such as oil prices, geopolitical situations, etc., can affect the value of a currency?”
“Yes, I do agree with that”. There’s a lot more about the treasury operations than people imagine, the interviewer remarks. Our final question is, “If you’re not doing this, what would you be doing?”
“Probably a software programmer,” he smiles. “Tech still has a big part of my heart.”
At the end, Richard gave parting advice to people looking to venture into the treasury team.
He explains that they should “start by nurturing a strong inclination toward financial management and prudence, gain hands-on experience in a financial environment, and learn the core pillars of treasury.”
At the heart of every ambitious company lies a treasury team quietly powering growth, and people like Richard Ize make sure that engine never skips a beat.
