Which function is typically NOT associated with a treasurer in a firm?

The role of a treasurer within a firm primarily revolves around managing the organization's finances, ensuring liquidity, and maintaining optimal cash flow. Cash management is a core function of a treasurer, where they oversee daily cash operations and forecast cash needs.

Financial risk assessment is also part of a treasurer's responsibilities, as they evaluate the various financial risks the firm might face, including interest rate fluctuations, currency risks, and credit risks, and develop strategies to mitigate these risks.

Investment portfolio management can fall under the treasurer's purview, especially if the firm has substantial investments or surplus cash that it seeks to optimize. They may be involved in making decisions about the firm’s investment strategies.

In contrast, operating the sales department is not a function typically associated with a treasurer. This responsibility usually lies with the sales or marketing departments, which focus on driving sales, managing customer relationships, and developing pricing strategies. Therefore, the correct answer indicates that while treasurers are involved in various financial operations, managing the sales department is outside their typical job scope.