ACT careers evening October 2016
Last week, I was delighted to speak at the ACT Careers evening in London alongside some of the industry’s leading figures including Gary Williams, Director, Deputy CFO and General Manager Treasury at Mitsubishi Corporation International Europe plc ; Frances Hinden, Vice President of Treasury Operations at Shell International ; Mike Taylor, Managing Director of Accelerating Experience Ltd and Peter Goshawk, Deputy President of the ACT. It was an excellent evening that provided a great deal of insight into the current treasury recruitment market, tips on how to progress your treasury career as well as lots of career advice and interview techniques. It was also interesting to hear about the market conditions from various businesses’ perspectives as well as what hiring managers are looking for when increasing treasury headcount or hiring their first treasurer.
Recruitment within the treasury market has remained positive this year despite a quiet summer period and, as we begin the final quarter of 2016, we can say with more confidence how various trends have developed over the year. The majority of roles we have recruited into this year have been at the Treasury Manager to Assistant Treasurer level; we have also seen an increase in the number of global cash management strategy roles and expect this to continue into 2017. It was clear from the speakers at Tuesday’s event that qualified, semi-senior Treasury professionals remain in demand throughout a relatively uncertain period in the economy.
As mentioned in my previous article, now is a great time to work in the treasury market. Research we undertook that informed our latest treasury salary guide and market report identified that 64% of Treasury professionals received a pay rise over the last 12 months and 79% of Treasurers received a bonus. The same research also showed that over a fifth of companies we surveyed expect to hire over the next 12 months.
As businesses plan for 2017, we are keen to see how the Treasury market will be affected by multiple factors including: the on-going political uncertainty and Brexit in particular, the importance mid-sized enterprises are placing on hiring an in-house Treasurer and restructuring in some of the more challenging sectors such as oil and gas. It expected that all these elements will create opportunities as the role of the treasurer becomes more prominent and cash visibility / optimisation is high on the agenda.
So, what can Treasury professionals do in order to be prepared and stand out to potential employers?
From speaking with our clients, here are some of the main things treasury professionals should be doing to ensure they stand out when looking to move into their next role (internally or externally):
- Ensuring their technical skillset and treasury knowledge is strong and current, including study and professional qualifications.
- Developing a strong leadership skillset, focusing on soft skills including management style, empathy and emotional intelligence.
- Understanding if you want to be a specialist or a generalist within the treasury arena.
- Displaying a pro-active approach - volunteering for projects, getting involved in inter-departmental initiatives and driving change.
Increasing their network and building relationships with senior stakeholders.
Whether you are looking for a new role in Treasury or you would like to hire a Treasurer, the Treasury team at Brewer Morris is more than happy to help. Please do not hesitate to contact me for a more in-depth discussion.