As 2024 draws rapidly to a close it can seem there are just too many things left to fit into the few remaining days. But as most of us look forward to some time away from our work and with our friends and family at this time of year, it’s also seasonally traditional to reflect on the year that has been (and perhaps the one to come, too).
The external environment seems potentially in a precarious place. This year of record elections means we head into 2025 with new administrations in many of the world’s major democracies and, as I write, some uncertainties in others such as France and Germany. Conflicts continue to rage in at least three continents. And either actual or expected changes in economic policies from Asia to the US – and most places in between – are making planning and setting assumptions for 2025 and beyond even trickier than usual.
Against this background, it would be easy to dwell on the risks and difficulties which the coming year might pose. Of course, change and challenge also bring opportunities, and adapting to shifting requirements is core in every treasury function.
For me personally 2024 has been an extraordinary year. The ACT has achieved many of its goals, and our new strategy is enabling us to work on significant improvements for members and the wider treasury community, including some ambitious programmes which take time and commitment to achieve. I have also been out and about in the UK and around the world, meeting with treasurers and business partners as well as working with regulators and other associations on evolving and improving the environment for business.
In the spirit of looking for the positives and the lessons which will stand me in good stead for 2025, here are five things I have learned from my first full year at the ACT:
Things don’t always go to plan – and that’s OK. An unscheduled 19-hour stopover at Charles de Gaulle airport in Paris was probably my most memorable example of this in 2024! But large or small setbacks remind us how agile and resourceful we can be – and sometimes they highlight a better way to get things done in the long run.
In an unpredictable world, treasurers and their business colleagues are keeping calm and carrying on. Far from ignoring the risks, they are systematically adjusting for the ones they can – and keeping cool heads and clear minds in readiness for the ones they can’t.
Time spent on clear processes and good governance is never wasted and is essential to getting things done in a collaborative and productive way. With my colleagues and our Council and Officers, we have invested in these throughout the year and it is enabling real progress.
There has been a big appetite to get back to meeting more in person. From routine update meetings to record attendances at our conferences in Liverpool and Dubai, and from a busy regional member event programme to packed out venues for our awards events and Annual Dinner, it has been impossible to ignore this demand. It may sound obvious, but the conversations we’ve had in person are deeper (and sometimes broader), and the follow-up conversations on screen afterwards are more productive, too. So time spent at those in person events and meetings is rarely wasted.
And finally, I have learned the beauty of taking a few stolen moments here and there, however busy the day. From stopping to enjoy the autumn sunshine for a few minutes, or stealing half an hour for breakfast by the canal in Manchester; savouring a 10-minute coffee break in a rainy London, or heading out for an early morning run before the world is up – these are the moments that allow for imaginative ideas and thoughtful responses to grow. Perhaps I already know what my new year resolution will be…
Whatever 2024 brought you, and whatever your hopes and expectations for 2025, I hope you have a happy and peaceful holiday season – and see you next year.
