Before 2008, the role of the bank treasurer broadly revolved around reporting, balance sheet management and cash management. This changed when the global financial crisis saw well-established financial institutions run out of liquidity and eventually fail. Today, treasurers are increasingly influencing the future direction and steering business strategy in the board room. With their broad perspective and influence over funding, liquidity and risk and compliance, one of the important areas treasurers can make a significant impact is identifying and driving efficiency. But first, it is important to be clear about what efficiency means in the context of treasury, as it…