By Magnus Chair TreasuryPeer com
The crisis has changed the role of the treasurer and we are much more exposed to the board now. This means a new set of rules and expectations. On behalf of the European Treasurers’ Peer Group I have interviewed CEOs and board members and here is a list what they expect. Fulfilling these expectations is a career improving activity.
Understand the business model and the underlying need from the business areas. Business modeling has not before been on the agenda of the treasury but that’s changing. Already many treasurers have understood this by transferring distributor risk on to financial institutions or limiting the financial exposure of vendors as only two examples.
Broaden the scope of “markets”. It does not only mean financial markets any longer. The expectation is the treasury also understands the markets your corporate is operating in. Follow the business area managers visiting customers and adapt a commercial mindset in the relation. Find ways how treasury can improve the customer experience and how your company adds value.
Act from a group perspective, and be expert in your field. One typical area is working capital management. Do not blame the business units for not understanding and stating that they “own” the money. Just implement good working capital practices. That is the responsibility of treasury. Blaming others and limiting your area of responsibility is definitely a career limiting activity.
When communicating with the board and C-level give them the solutions not the problems. Do not overwhelm them with details. Do your home work and give them the conclusions and propose what they should decide. Prepare to substantiate with facts and analysis. Be precise. This means taking risks, but the opposite just creates confusion and an unfavorable impression.
Focus on activities leading to top line and bottom line growth – “earn your right to grow”. A treasurer who substantially assists bringing in business or reducing risk in the core business will be a star. Avoiding having Treasurer as a final position requires migrating to the core business and there has been no easier time than now.
Have your eyes on the future, not the past. There are few things CEOs and board members loath as to discuss past quarter figures. That’s already history. The finance/treasury joining the executive management in focusing on the future are the winners.
Careers , Jobs Indonesia, Indonesia Vacancy
The crisis has changed the role of the treasurer and we are much more exposed to the board now. This means a new set of rules and expectations. On behalf of the European Treasurers’ Peer Group I have interviewed CEOs and board members and here is a list what they expect. Fulfilling these expectations is a career improving activity.
Understand the business model and the underlying need from the business areas. Business modeling has not before been on the agenda of the treasury but that’s changing. Already many treasurers have understood this by transferring distributor risk on to financial institutions or limiting the financial exposure of vendors as only two examples.
Broaden the scope of “markets”. It does not only mean financial markets any longer. The expectation is the treasury also understands the markets your corporate is operating in. Follow the business area managers visiting customers and adapt a commercial mindset in the relation. Find ways how treasury can improve the customer experience and how your company adds value.
Act from a group perspective, and be expert in your field. One typical area is working capital management. Do not blame the business units for not understanding and stating that they “own” the money. Just implement good working capital practices. That is the responsibility of treasury. Blaming others and limiting your area of responsibility is definitely a career limiting activity.
When communicating with the board and C-level give them the solutions not the problems. Do not overwhelm them with details. Do your home work and give them the conclusions and propose what they should decide. Prepare to substantiate with facts and analysis. Be precise. This means taking risks, but the opposite just creates confusion and an unfavorable impression.
Focus on activities leading to top line and bottom line growth – “earn your right to grow”. A treasurer who substantially assists bringing in business or reducing risk in the core business will be a star. Avoiding having Treasurer as a final position requires migrating to the core business and there has been no easier time than now.
Have your eyes on the future, not the past. There are few things CEOs and board members loath as to discuss past quarter figures. That’s already history. The finance/treasury joining the executive management in focusing on the future are the winners.
Careers , Jobs Indonesia, Indonesia Vacancy
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