Why volunteering through the ACT has all-round benefits

The Treasurer talks to ACT volunteers about the benefits they give and receive

Association of Corporate Treasurers (ACT) members and volunteers help the ACT make a lot of great things possible, including raising the profile of treasury and strengthening the profession.

So, why volunteer?

• It’s a great opportunity to give back to the profession and be involved with leading bodies, such as the Bank of England and the European Association of Corporate Treasurers.
• It provides a chance to discuss areas of interest (such as cash management, funding and financial products/markets) with like-minded colleagues.
• It provides access to significant networking opportunities with treasurers and other finance professionals, and can help you build your personal profile and brand.
• If you are in transition or going into retirement, it provides a great way of keeping involved with treasury issues.
• Volunteering is excellent continuing professional development (CPD) – a wonderful addition to your CPD record and your CV.

We speak to Fadey AbiDaoud, instructor, College of North Atlantic, about volunteering on the Middle East Advisory Panel.

You are a member of the Middle East Advisory Panel. Why did you volunteer to join this group?

I was introduced to the ACT while I was in Abu Dhabi back in 2011. It became clear to me that the association was interested in promoting industry best practices and was the only real place where treasury and banking professionals could converge to share their ideas. I was asked to participate in an ACT event in 2011 and I was hooked.

 Volunteering opens up new opportunities, new networks and new ways of thinking  

Why do you think it’s important to volunteer your time?

It’s all about return on investment. I believe I have received more from the ACT than my individual contribution. I have learnt a lot and have enjoyed contributing to the discussion on treasury in the Middle East. I have also enjoyed accessing the huge amount of information available via the treasurers.org website, ACT publications and ACT events.

What would you say to anyone thinking of volunteering with the ACT?

Volunteering opens up new opportunities, new networks and new ways of thinking. Your investment in time will be worth it as you will gain a new perspective, and I have found access to the latest treasury information particularly helpful. The ACT will provide a return over and above any investment you make.

As qualified treasurers, ACT members have a unique mix of experience and knowledge. Through our voluntary roles page we provide information on roles in the charity and not-for-profit sector as well as information on non-executive director roles.

We ask Gary Williams, former director and deputy CFO, Mitsubishi Corporation International (Europe), about why it’s important for those with treasury skills to volunteer.

You are a trustee for a charity – how did you get involved and what are the key things you do?

I already had some experience volunteering for a local charity, although I sometimes felt that my contributions were mainly at trustee meetings. I later found a trustee opportunity at a local environmental charity (through Reach Volunteering) where advice and hands-on assistance were a key requirement of the role.

There are parallels between the mindset and make-up of a treasurer and what a trustee needs to bring to the table. A treasurer needs to be forward-thinking, consider all options and opinions, embrace partnership, be good at listening, be a team player, understand the brand, be aware of regulations and fully understand the risks.

All these same attributes are required of a trustee, although for no remuneration!

In terms of the key things I do, to date I have been working on HR aspects such as job descriptions and contracts of employment. As a former board director I have also helped with governance matters.

When working as a trustee it’s important to be flexible and to help where you can. I do a lot of this via email, but I also work on-site, as I think it’s good to have first-hand understanding from employees, especially the large number of dedicated volunteers.

Why do you think it’s important to volunteer?

I reached the point in my career when I felt it was time to give something back, especially to local causes. Smaller charities are heavily reliant on volunteers, as they don’t always have the funding to pay for staff.

What advice would you give to someone thinking of volunteering?

It can increase your skills and expertise while bringing you into an environment where you can make a difference. I would look at local charities where you may have a strong alignment with their purpose, aims and objectives.

Finally, I would say don’t go in with fixed ideas – be open, as the landscape can be very different to the corporate world.

Get involved

If you would like to volunteer with the ACT, we have a number of initiatives that you might find interesting. Click here for the latest opportunities, or contact Zoe Norris, head of member engagement, on znorris@treasurers.org or +44 20 7847 2548.

For information on voluntary roles, including trustee and NED positions, visit this part of the ACT’s website.

This article was taken from the April/May 2020 issue of The Treasurer magazine. For more great insights, log in to view the full issue or sign up for eAffiliate membership