Annette Spencer, the new chief executive of the Association of Corporate Treasurers, has been in her role since early September. Here, she tells The Treasurer what members can expect, what attracted her to the position and how her previous experience in many roles will help her guide the association through the next phase of its development.
AS: My career started in communications and PR, working for large financial services organisations. As I took on roles with more responsibility, my remit expanded to include work in policy and regulation as well as marketing and brand management. The first part of my career included working on demutualisations, flotations, acquisitions and mergers, spanning both B2B and B2C businesses.
About a decade ago, I moved into working in membership organisations, initially as director of communications at the Investment Association. For the past five years, I have been the director of policy and marketing at the Institute and Faculty of Actuaries.
I’ve been very lucky to have a career where no two days have ever been the same, right from the start. It’s hard to pick out any particular highlight but some projects are especially memorable: from an early morning photo call with a thoroughbred racehorse in the heart of the Square Mile (to announce a new racing sponsorship) to working on the detail of documents for the Securities and Exchange Commission (SEC) to help an insurer exit the US market; working in Eastern Europe for a year to acquire and integrate three businesses in Poland, Russia and the Czech Republic, to manning the phonelines for Comic Relief at First Direct and writing the obituary for ‘Lucky the Dog’ at More Than.
My work has taken me across five continents, from Moscow to Toronto and Washington DC, Copenhagen to Sydney, Shanghai to Cape Town.
I’ve been very lucky to have a career where no two days have ever been the same, right from the start
AS: There are probably four areas I should highlight:
I get the most satisfaction from those projects that require time and are likely to twist and turn a bit along the way, but which result in tangible improvements and lasting change. Examples would include post-merger integration programmes, re-brandings and digital modernisation programmes.
I enjoy working in the membership sector for the variety of work and the real sense of purpose and influence – there is a unique and rewarding sense of partnership in working with members. My experience has also made me passionate about all aspects of financial management as an enabler for business and society, and the importance of professionalism and standards in this field. I’m really excited about this role as it offers me the opportunity to combine these passions and work with a committed team in developing the ACT as a modern and effective professional body.
It’s clear that the ACT has a loyal and supportive membership and that is a valuable asset to build on as we seek to ensure the organisation’s financial resilience
AS: I’m wary of labels in this area, and I think it’s important that each leader can be themselves with the individuality that this entails. I think the question is really about what my role is: working with members, to set a clear direction for the organisation and support the ACT team and volunteers to deliver it. Being a positive representative and ambassador for the profession is also a key element, I believe.
It’s clear that the ACT has a loyal and supportive membership and that is a valuable asset to build on as we seek to ensure the organisation’s financial resilience. The work already under way to understand how we evolve our qualification structure to keep it relevant for a new generation of treasurers will also be important.
Medium term, there are opportunities to increase the broader awareness and influence of treasury and treasurers, and look at how and where the membership could grow. The best piece of advice I have been given is that whatever task you have – big or small – do it the best you can.
AS: I’m a slow but regular runner, which gets me outdoors and gives me space to think. I love the arts – theatre, music and exhibitions, so I get to those as often as I can. And I enjoy watching all kinds of live sport, especially Formula 1.
I’m a long-standing volunteer in my own professional body, the Chartered Institute of Public Relations (CIPR). I’ve served on its Council and Finance Committee, and chaired the CIPR Corporate and Financial sectoral group. These days I’m a member of the Professional Standards Panel and a champion for its Chartership qualification.
It’s very useful to know the challenges and rewards of being a volunteer in a professional body alongside working as an executive in one. Apart from that, I’m the current president of the alumnae committee (the Roll) at Newnham College, Cambridge, and I am a writer, having contributed the ‘Financial Communications’ chapter in The Public Relations Handbook (6th edn, Routledge, 2021).
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This article was taken from Issue 3, 2023 of The Treasurer magazine. For more great insights, members can log in to view the full issue.
