Providing Value to Clients
Our clients consistently provide positive feedback, affirming the high quality of our comprehensive suite of cost-effective financial products and services that we offer to the State’s public sector, local governments and public universities.
WATC works closely with each of our clients to ensure that their individual business requirements are achieved through the most appropriate application of our products and/or services. During 2017/18, WATC educated, supported and enabled sound financial risk management to clients.
Educated
In what has been a year of uncertainty in global financial markets, WATC delivered high quality economic commentary and strategic financial advice to our clients. We believe in empowering our clients with the knowledge and resources they need to make informed decisions that are appropriate for their organisations and represent value-for-money for the State.
During 2017/18, 86 people from 14 agencies attended seven education seminars about foreign exchange (FX) risk management. Since the inception of this program, WATC has presented to more than 900 people across the WA public sector, supporting them in the early identification and management of FX exposures within agencies.
WATC also conducted educational workshops in financial modelling and model quality assurance to enhance our clients’ ability to make intelligent financial decisions. Additionally, through the publication of debt finance articles and other resources, WATC expanded our role of assisting clients in making informed decisions.
Complementing our in-house economic expertise, WATC invited clients to attend presentations by leading financial markets economists, who provided their views on interest rates, currencies and the Australian economy.
Supported
WATC supported a number of agencies by providing advisory services to identify, quantify and manage FX exposures, develop comprehensive business cases, conduct extensive analysis work and build robust financial models. WATC also supported clients in the development of strategies to manage contract FX risks and provided competitive pricing in the execution of clients’ FX transactions.
During the financial year, WATC sat on a range of tender and request for proposal evaluation panels, on behalf of our clients. As part of our supporting role, we provided agencies with financial modelling support and analysis of tender and expression of interest submissions, contract negotiation support, pricing analysis, selection processes, credit reviews on the credit standing of bidders, and suggested improvements to pricing structures and claw-back mechanisms.
Enabled
WATC provides a comprehensive range of financial products and services to assist our clients in achieving their financial objectives, both now and in the future. During 2017/18, WATC continued to promote our interest cost projection service, resulting in 80% of the target client base now choosing WATC as their preferred provider in this area. This service allows our state government and public university clients to realise efficiencies in preparing interest cost forecasts for their budgeting and other business planning purposes.
WATC also reviewed and approved loan fund requests from local governments. This service provides debt finance to local government projects that will benefit Western Australians.
Looking Ahead:
Pursuing amendments to the WATC Act to broaden the statutory powers in order to meet clients’ emergent needs.
Review of modelling to inform efficient debt portfolio allocations between fixed and floating rate debt within client portfolios.
Providing ongoing support and input to large long-term capital projects.
Roll-out of broader FX advisory services to new clients.
Delivery of an in-house and on-premise education and advisory program for our clients as well as continuing to provide additional assistance as requested.