Rachael Crocker Treasury, Career Advice, Market Insight...
As lockdown eases and we begin to move forward into what is likely to be a downturn in the economy we are increasingly speaking to clients who are thinking about hiring their first Treasury professional. The key drivers for this are an increased focus on cash visibility, forecasting and liquidity management which look set to be key trends for a considerable period of time. We are also seeing that many companies are needing to refinance or raise new funding unexpectedly within a short timescale and this is further increasing the need for Treasury expertise.
Organisations are having to assess their current capital structure, cash management processes and forecasting, then implement a clearly defined strategy within a relatively short space of time to enable the group to more accurately and effectively manage their liquidity status. This enables them to forecast accurately and over a longer timescale and to assess the potential impact of various scenarios over the next few years. Hiring a strategic Treasurer on an interim or permanent basis during a challenging economic period can have a significant impact on the balance sheet and an organisation’s ability to survive and even thrive through uncertainty and volatility.
The role of the Treasurer gained a high profile during the global financial crisis in 2008 when many companies discovered that their cash management, forecasting and capital allocation processes were not adequate and they needed to either upskill an existing Treasury department or recruit their first Treasurer. Treasury professionals were brought in to work closely with the CFO to look forward, using their specialist skillset to help steer the business through uncertain times ahead. Those companies with a fit for purpose Treasury expertise found they were far better equipped to pro-actively manage their balance sheet and liquidity position and arguably fared better than if they were not able to do so.
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There are many reasons that now is a good time to think about recruiting a Treasury professional for the first time or upskilling an existing Treasury department, if you are interested in more information on how this could benefit your team or if you would like to discuss any of the matters mentioned above in more detail please contact Rachael Crocker on 0207 332 9598.