Learn how to optimize your treasury management functions and add value to your business by building a successful treasury services team.

Some state that treasury as a career choice is a dead end street and promotion is hard because teams are small. I see that many treasury professionals do not only value hierarchy but also complexity and impact in their career. On top of that, corporate treasury is constantly changing. Currently technology, ESG and forecasting are all hot topics. So in my opinion no investments in improvement and learning is moving backwards.

How can you build a successful treasury services team?

Treasury services are essential for any organization that needs to manage its cash flow, liquidity, risk, and payments. A successful treasury services team can help optimize these functions and add value to the business. But how can you build such a team? Here are some tips to consider.

1 Define your goals and strategy

Before you hire or train your treasury services team, you need to have a clear vision of what you want to achieve and how you plan to do it. What are your main challenges and opportunities in treasury management? What are your short-term and long-term objectives? How will you measure your performance and impact? Having a well-defined strategy will help you align your team with your business goals and communicate your expectations.

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Faizan Haq

Treasurer at MTN Group I Seasoned Treasury Management Professional
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I believe building a successful treasury services team involves careful planning, strategic hiring, continuous training, and effective use of technology. The first step in building a successful treasury team is to clearly define the team's objectives. These should align with the overall goals of the organization. Each role within the team should have a clear job description, outlining responsibilities and expectations. This clarity helps in recruiting the right talent and in setting performance benchmarks.

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Nur Anis

Support Specialist @ Grab | Pharmacy, Marketing, Soft Skills.
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Start by recruiting individuals with diverse expertise in risk management, finance, and technology. Establish clear roles and responsibilities, ensuring each team member contributes to the overall objectives. Foster a collaborative environment, encouraging open communication and knowledge sharing. Provide ongoing training to stay abreast of industry trends and technologies. Emphasize adaptability to navigate evolving financial landscapes. Implement robust risk management processes and leverage technology for efficiency. Regularly evaluate team performance, address challenges promptly, and celebrate achievements. This proactive and collaborative approach contributes to a dynamic and successful treasury service team.

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2 Hire or develop the right skills and competencies

Treasury services require a combination of technical, analytical, and interpersonal skills. Your team should have a solid understanding of financial markets, regulations, products, and systems. They should also be able to analyze data, forecast scenarios, and make informed decisions. Additionally, they should be able to communicate effectively with internal and external stakeholders, negotiate deals, and manage relationships. Depending on your needs, you may want to hire experienced professionals or invest in training and development programs for your existing staff.

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Pieter de Kiewit

Finding corporate treasurers for permanent and interim positions. Treasury community catalyst and entrepreneur.
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Of course treasury expertise is dominant but not all team members have to be gurus. My personal observation is that the most successful teams also have members who constantly connect with the business. This requires curiosity, willingness to communicate and really listen. If that is important for your team, think about how to measure this in an interview.

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Faizan Haq

Treasurer at MTN Group I Seasoned Treasury Management Professional
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Another crucial aspect is hiring individuals with the right mix of skills . Always look for a blend of technical skills (like financial analysis, cash management, and risk assessment) and soft skills (such as communication, problem-solving, and leadership). Diversity in educational backgrounds and work experiences can also enrich the team's perspective.

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Peter Matza

Views are my own. ACT Council member, MA, Hon. FCT; treasury and corporate finance specialist. Experienced conference chair and presenter
(edited)
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1 Get people who are treasury qualified or becoming so. Why? Because it shows a willingness to immerse themselves in the subject. 2 If possible find individuals with different characters eg with other varied education or professional backgrounds. 3 Think carefully about how you will incentivise your team 4 do not create hierarchies. Yes, decision making is reserved but via consensus and inclusion of thought

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3 Foster a culture of collaboration and innovation

Treasury services are not an isolated function, but rather a part of a larger ecosystem that involves other departments, such as accounting, finance, risk, and operations. To ensure smooth and efficient processes, your team should collaborate with these units and share information, insights, and best practices. Moreover, your team should be open to new ideas and technologies that can improve your treasury operations and create value for your organization. Encourage your team to explore new opportunities, test new solutions, and learn from feedback.

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4 Implement effective governance and controls

Treasury services involve significant financial risks and responsibilities. Therefore, your team should follow strict governance and control standards to ensure compliance, accuracy, and security. You should establish clear policies and procedures for your treasury activities, such as cash management, hedging, investing, and reporting. You should also monitor and audit your team's performance and transactions, and address any issues or gaps promptly. Furthermore, you should ensure that your team has access to reliable and updated data and systems to support their work.

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5 Invest in continuous improvement and learning

Treasury services are constantly evolving due to changing market conditions, customer demands, and regulatory requirements. To keep up with these changes and maintain your competitive edge, your team should invest in continuous improvement and learning. You should provide your team with opportunities to enhance their skills and knowledge, such as courses, workshops, webinars, or certifications. You should also solicit feedback from your team and your stakeholders, and identify areas for improvement or innovation. Lastly, you should recognize and reward your team's achievements and contributions.

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Pieter de Kiewit

Finding corporate treasurers for permanent and interim positions. Treasury community catalyst and entrepreneur.
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Some state that treasury as a career choice is a dead end street and promotion is hard because teams are small. I see that many treasury professionals do not only value hierarchy but also complexity and impact in their career. On top of that, corporate treasury is constantly changing. Currently technology, ESG and forecasting are all hot topics. So in my opinion no investments in improvement and learning is moving backwards.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you build a successful treasury services team?

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1 Define your goals and strategy

2 Hire or develop the right skills and competencies

3 Foster a culture of collaboration and innovation

4 Implement effective governance and controls

5 Invest in continuous improvement and learning

6 Here’s what else to consider

Financial Services

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