This time of year is always a popular time to consider changing jobs. Whether it is part of a 'new year, new me' attitude, driven by the terrifying feeling of returning to work in January, or a more substantial motivator, the new year tends to be when a lot of people consider a move. I thought, therefore, it would be useful to share some advice based on recent market trends.
As the year has progressed, we have seen a shift in desired skill sets, predominantly moving in line with macro-economic factors. Larger businesses have been very interested in risk management, and the ability to interpret market risk has been very important. This is because of the landmark year we have had from a geopolitical standpoint, with factors ranging from global conflicts to political elections.
This has meant that businesses with complex financial risks, such as currency or commodities, have needed to hire treasury professionals with strong macro-economic interpretive skillsets in order to help navigate the tricky climate.
Despite this market risk focus, looking back on last year, the most common types of mandate have come from businesses wanting to hire a first-time treasury person. This is because of the rise in transactions in both the private equity and listed spaces, be it a business transitioning to PE ownership, or from PE ownership to public.
This means a shift in reporting requirements and leads to businesses needing to hire individuals with key technical knowledge, such as forecasting or accounting standards. Businesses going through these transactions have needed to hire individuals to build upon, or in some cases, build from scratch, their treasury function. This includes, but certainly isn’t limited to, TMS implementation and bank account rationalisation.
It is more important than ever to bring in a treasury professional who is adaptable, eager to muck in and make their mark
Despite needing the technical knowledge to implement change, the number one priority when hiring for these roles has without question been attitude. The general consensus seems to be that technical skill sets can be taught, but it is more important than ever to bring in a treasury professional who is adaptable, eager to muck in and make their mark.
It has therefore vital to demonstrate this attitude when interviewing, through either demonstrable experience of implementing change and leading on project work, or through attitude and personality.
When interviewing for a role like this it is important not just to talk about what you have done, but how you have done it. Often, the interviewer will be a CFO or finance director, and therefore needs to be convinced that you are the person who is able to drive things forward autonomously.
It is important not just to state the project work you have done, but what challenges you faced, how you overcame them, and of course, how that could relate to the role that you are interviewing for. As mentioned above, attitude is, in many cases, the best way to demonstrate your ability to operate in a small treasury function.
Given the fact that this is often a 'first-time' treasury person in the business, these types of roles often require someone who can go out into the business and find things out on their own, as there aren’t the processes in place to find things out easily.
We expect these 'standalone' or 'build-out' roles to continue to pop up as we move into 2025, so do bear in mind the above points if you are considering applying!
Sam Roberts is senior treasury consultant at Brewer Morris
