Like so many other early members of the ACT, I became a Treasurer by accident. After an early career in banking and stockbroking, I joined Gulf Oil as their Pension Fund Adviser for the Eastern Hemisphere, which happened to be part of the Treasury Department, where I learnt to cover for the FX dealer and Cash Manager. Over, what was a very steep learning curve of 5 years, including a succession of divestments and a take-over, I was appointed Regional Treasurer. Treasury is rarely a function where you work for one company throughout your working life, and I have found myself seeking new jobs as a result of mergers, other corporate events, or occasionally after a senior management change, especially the arrival of a new Finance Director. I have held numerous roles including: Group Treasurer at Willis plc (insurance brokers), House of Fraser Plc, (department stores) Halcrow Ltd (civil engineering consultants), and the European Treasurer at Rackspace (webhosting) and the Valspar Corporation (paints and coatings). In addition, I have undertaken a variety of interim and consultancy roles in a range of companies and industries, which has taught me that whilst every company and industry is different, treasury skills are more easily transferrable than most. Treasury now covers a much wider range of functions and skills, than in the early days, and most recently the management and development of people has become a more important part of the role.
I have handled so many different projects that it is difficult to highlight the most exciting. Take-overs, divestments and financings are all very demanding but one particular role that sticks in mind was consolidating the banking in the US for Burmah Castrol to one relationship bank. This included a tender and implementation of new banking systems throughout the company’s operations in the US, generating additional cash of $5m and saving over $25k a year in bank fees.
Over my career, I have benefited from the advice of informal mentors. However, I do feel that a more formal and longer-term mentoring relationship may have been beneficial – especially from someone impartial. It was with this in mind that I put my name forward to be a mentor with the ACT.
You use all the skills you develop throughout your life - these can be professional skills, or wider life and career skills. The fact that the mentor has ‘been through it already’ means that they might be able to spot mistakes easily and the mentee will be able to use this experience to come up with the best solution.
My experience with the ACT scheme has been to ensure that you establish what both parties want and expect from the relationship early on – and to measure progress. It is critical that both the mentor and the mentee understand the relationship.
The most important aspect was to ensure that both of us agreed on what we were going to achieve throughout the relationship. It was essential to agree on the best way for me to support him through this part of his career, and decided to focus on: • His progress with the ACT Examinations • His progression in his current job and future job development • Providing guidance on how to promote himself with his CV, LinkedIn profile and other social media • To act as a confidential and independent ‘friend’ for him to discuss career plans and difficulties
He has a new job, which really does sound exciting. I am really pleased he has attributed the success of getting this new role to the support and advice I provided – I’m really pleased to have been able to help.
It has been a very enjoyable process and I hope to keep in touch with my mentee for many years to come. I think that it is a very useful process to offer to younger members. My advice to potential mentors is to understand what both parties want from the relationship, to be honest and candid in your dialogue and to enjoy the experience.
John Robins, the Finance Director at Willis (who was also a former Chairman of the ACT) used an old fighter pilot’s adage – ‘Never come at me out of the sun’. In other words, don’t surprise me with bad news. That isn’t always possible, but it is good career advice, and just as important when dealing with a Board of Directors.
The most important person in my career was the Assistant Treasurer at Gulf Oil, Bob Spagna, who recruited me at that corporation, and provided opportunities for me before I ever knew that they existed. He changed my life. Sadly, he died a few years ago, and I never had the opportunity to thank him for the immense impact that he had on my career. Beyond individual companies, I need to mention Gerry Leahy who was the Director General of the ACT from 1988 to 1995, who became my mentor, encouraging me to join the ACT and then to specialise in the areas of Security and Control.