Future of Treasury - From Treasurer to CFO?4 June 2010 | Paul van Vliet & Madelon van Tol
Content
Introduction Treasury Team Robert Walters
Career Treasury 2010-2013
Results survey and some additional questions
Hard skills you need
Soft skills required
Career advice and decision-making moments
Experience from Dick van Ommen, FD Heijmans
Paul van Vliet
Degree in business economics
15 years’ experience in finance recruitment
10 years ago: first treasury placement
Madelon van Tol
Degree in Law, experience as a lawyer and business developer
1,5 year in recruitment of treasury professionals
Introduction
Career Treasury 2010-2013
Risk Management is hot; as a result, treasury as well
First 6 months of 2010; more positions in the market for international cash managers and risk managers
Corporate and project finance is more in demand
Treasury Control and Accounting experience is asked
Treasury positions to foreign head offices (e.g. Switzerland)
Our expectations: increased hiring levels as treasury skills remain critical to business success
The Netherlands are attractive for treasury activities
16th economy of the world
Excellent infrastructure, airport and biggest harbour of Europe
Member of several international treaties, like the UN, EU and trade agreements like the WTO
Quite easy and not expensive to set up a legal entity
In Europe: the Netherlands is the cheapest place of business (source: KPMG)
Easy access to the money market (Euronext, Alternext, London Stock Exchange)
Results of the on-line surveyFeedback of 107 participants
1: A job as Treasurer becomes more interesting in aneconomic downturn
About 25% does NOT agree
Curious: who did not agree and why?
The market informs us that the economic downturn makes the treasury job more challenging and interesting
2: The importance of a Treasurer in an organisation has grown since the economic crisis
3: In times of economic crisis where cash becomes a key area of focus, a CFO with a background in treasury is of more value than a CFO with a background in accounting
65% Agrees
We will elaborate on this question at the end of the presentation
4: The Treasurer should come down from his/her ivory tower and get more involved with the business
Are you enough involved in the business at the moment?
5: A RC degree is critical to advance from a treasuryposition into a FD/CFO function
29 % agrees that a RC is a critical advantage
The majority thinks that accounting skills are needed
Do you want to become a CFO/FD?
MORE RESPONSIBILITY
TREASURY WILL GET BORING
PERSONAL DEVELOPMENT
MONEY
WITH 45 YOU ARE OLD
STATUS
7/10/13: As a Treasurer you have what it takes to becomea FD/CFO
37% agree
39% is neutral
24% does not agree
50% has the ambition to become a FD/CFO
Is additional education really necessary to make a step towards FD/CFO?
6: I have deliberately chosen a career in treasury
Is it your ambition to grow as a Treasurer within different companies?
Do you have enough accounting/controlling knowledge to become a FD/CFO?
8/9: Which career step towards FD/CFO works?
45% thinks you need a step into accounting/controlling
Internal or directly external; you don’t know!
11: The required skills of a Treasurer are the same as that of a CFO
12/14: Within the treasury profession you will always find a suitable job
40% thinks he/she will always find a suitable job
54% disagrees with ‘Once a Treasurer always a Treasurer’
Hard skills you need
Accounting knowledge
Controlling experience
Financial strategy and working capital knowledge
Finance education, the broader the better
Business knowledge
Soft skills required
Trustworthy personality and politics awareness
Strong managerial skills
Vision about the business and future
Relationship building, internally and externally
Excellent communication skills
Charisma
Career advice and decision-making moments
Education
First of second step in career; try not to specialise from the start
Don’t be afraid to take a step horizontally
Consider a step internally
Luck!!
Within 5 years; do you still work in treasury?
Thanks for your attention!