Throughout my finance and treasury life, I have been a firm believer in taking control of my career development. (Although some might say that given I am now CEO of the ACT, perhaps there was a wrong turn somewhere!) In all seriousness, however, I think there are some key messages for treasury professionals that both the ACT and I are committed to supporting.
Clearly, the ACT believes passionately that treasury management as a career is more relevant, forward-thinking and exciting than the traditional roles in business finance. The hard yards of a career in finance and treasury are set in the early years of professional development, when the ACT’s qualifications are seen as a benchmark of competency, but also as demonstrating your commitment to the industry and professional development.
A keystone of developing education policy is ensuring that prospective employers are fully engaged with the ACT in building career paths for budding treasurers. We have been building those relationships during 2012, with the initial aim of having the ACT’s qualifications and relaunched continuous professional development programme being endorsed by many of the UK’s largest companies – both for their students and their qualified employees. In time, we hope to roll out this accreditation across the UK.
Students, however, are rightly demanding that education provision keeps pace with technology, so we provide online forums, we’re working on video presentation and, for students and experienced practitioners alike, we run hugely popular voice webinars on subjects ranging from OTC derivative regulation to Middle East cash management. In The Treasurer, we have started devoting several pages to essential student advice and guidance, which also serve as a refresher for those of us more distant from operational treasury. It is essential that a professional association can foster a thriving community in which individuals can network, exchange ideas and build a career path. I am particularly pleased that in this edition of The Treasurer we are celebrating the growing numbers of women who choose treasury for their finance careers.
The ACT now produces a global range of events where you can network in person, stretching from the annual conferences in Liverpool, the Middle East and now Hong Kong to a keynote presentation from the CEO of Lloyds Bank, in London. We constantly look at how we can keep these events fresh, challenging and meeting the highest standards of event delivery.
The ACT believes that treasury management as a career is more relevant, forward-thinking and exciting than the traditional roles in business finance
Modern technology means that embracing social media has to be a key aspect of developing communities and I have been delighted by the growth in our LinkedIn group to 6,000 members. More importantly, the breadth and depth of debate, and willingness of group members to share their experiences, has become an essential part of the daily routines of many treasurers. The ACT team (@actupdate) and The Treasurer (@thetreasurermag) are also keen tweeters.
Along with many of the ACT’s other activities, The Treasurer benefits from the support and guidance of a volunteer forum, which provides invaluable market experience and allows the magazine to formulate editorial content, and be seen as the authentic voice of the professional treasury community, so accept no substitutes!
As treasurers further their careers, they must acquire and demonstrate an understanding of their organisations so that they can contribute to strategic business planning. To support that effort, we can encourage successful AMCT students to move on to our senior qualification, MCT, and also try to ensure that we run events with strategic elements.
Colin Tyler is chief executive of the ACT. Follow him on Twitter @ColinTyl
