I started out as an auditor with KPMG and completed the ACA while with them. I then moved to a financial analyst role at Glaxo Holdings, where I completed my ACT qualifications. I have held treasury positions at Merck Sharp & Dohme (part of Merck & Co Inc), and then Group Treasurer positions at Rentokil Initial plc, Virgin Atlantic Airways, and Zahid Tractor (Saudi Arabia). I became treasurer at Save the Children International in 2017.
It was an excellent but very unusual opportunity. I did not have ‘working in Saudi Arabia’ on my career map but now having lived and worked in Saudi Arabia for five years I can honestly say it would have been a huge mistake not to have taken the role. In this regard it was a real lesson in being open minded about unusual opportunities particularly in a careers market place that is increasingly global.
I would suggest a key (but perhaps sometimes overlooked) part of any treasurer’s development and skill set needs to be the ability to operate effectively and efficiently in a work culture and environment that is not their ‘home’ environment. My time in Saudi, whilst at times very challenging, was ultimately hugely rewarding and I learnt many very valuable lessons from operating in a work culture and environment that was very different to that which I had previously worked in.
When I became aware of the treasurer role at Save the Children I was looking at traditional corporate treasurer roles. I was however immediately inspired by the opportunity to use my previous experience to improve Save the Children’s treasury function and to have a very direct positive impact on the provision of aid and humanitarian assistance to children in need in some of the most challenging countries globally.
Settlement of funds into challenging geographies along with the management of associated FX with emerging market currencies that are often extremely illiquid, to ensure ultimately that donor funds reach those most in need.
Corporate treasury as a profession whilst reasonably well known in some parts of the Middle East (e.g. in UAE) is still relatively less well known in Saudi Arabia. This means there is a greater, more comprehensive and more in depth need in Saudi Arabia to inform and educate colleagues on ongoing treasury operations and initiatives.
The working culture in Saudi Arabia was changing rapidly whilst I was there but was still very different to what I had experienced whilst in corporates in the UK. It took some adjustment to get used to but ultimately I can honestly say it was very rewarding.
Another key difference was the weather! I missed the UK seasons. Broadly speaking Jeddah (where I was based) was hot in the winter and very very hot in the summer…..with high humidity!
My only other comment would be around the expat life style versus a UK home-based lifestyle. In Jeddah, home life revolved around the compound-based expat community, which included a lot of watersports - particularly scuba diving in the Red Sea.
Carrying out a major refinancing at the height of the financial crisis in the second half of 2008 and following several profit warnings.
There are core skills that treasurers have to have that I believe are very valuable regardless of industry or location, in particular, good financial risk understanding and management skills; a good ability to work with and influence a wide variety of colleagues and external partners; and a good ability to grasp detail quickly whilst not losing the ability to see the wood from the trees.
Take time to thoroughly consider alternative opportunities even if at first sight they might not look interesting.
Try to get some practical treasury experience in a treasury team. The qualifications are practical and will be much more understandable and meaningful with some treasury experience.
Thinking, Fast and Slow (Daniel Kahneman).