Thank you – I’m delighted to have joined the ACT. The Policy & Technical (‘P&T’) team act as ambassadors to represent the interests of ACT members by, for example, making policy submissions to regulators and legislators. We interact with other institutions, such as the Bank of England and the CBI, to raise the profile of the treasury profession. We inform treasurers by providing technical updates on emerging issues. Overall, we address issues on behalf of treasury practitioners and help improve professional standards in the financial sector.
I have been appointed recently to the Bank of England’s Money Markets Committee and to the FICC Market Standards Board, both of which produce voluntary “best practice” codes of conduct for the financial markets that are applicable to corporates as well as to financial firms. (FICC refers to the Fixed Income, Currencies and Commodities wholesale markets).
I joined the ACT in September 2019 with over 30 years’ experience of international finance, most recently within Group Treasury of Royal Dutch Shell plc as Head of Regulatory Affairs, Head of Compliance and Controller of Group Pensions. I’m a qualified accountant (ACMA/CGMA), with a degree in Law & Politics, and have worked in UK, Africa, South America & Middle East. I have been CFO/Finance Manager of various entities in the energy, commodities, technology and not for profit sectors.
Treasury enables the rest of the business to function, a bit like a heart that pumps funding around the corporate body to where it’s needed. I like supporting the business and you never know what technical challenges may emerge - many years ago I had to buy physical gold for a marketing promotion in the Middle East, giving due consideration to the physical and pricing risks. Treasury also operates at the interface between the business and the external financial markets and I enjoy engaging with the wide mix of stakeholders involved. I have contributed to many industry working groups, including the Financial Regulation Advisory Group of the European Association of Corporate Treasurers.
There have been so many! I am proud to have been the first CFO of Shell Foundation, a UK ‘top 50’ registered charity working internationally, where I was responsible for establishing the financial control framework and systems. In the treasury context, I was a member of the Financial Stability Board’s Market Participants Group (2013/14) on reforming interest rate benchmarks / LIBOR and was responsible for writing the report for the Corporate Working Group. Perhaps strangely, the most exciting project (though stressful at the time) was taking over as Finance Manager shortly after a huge energy project had been cancelled; it’s true that you can learn much from a failure.
Managing the transition from LIBOR to other interest rate benchmarks during 2020 will be a priority for most treasurers. Geopolitical risk, including the outcome of the EU/UK Brexit negotiations, will continue to bring surprises - as we have seen already with the USA/Iran tension in the first weeks of the year. Meanwhile the sustainable finance agenda continues to grow in importance in the run up to the COP26 climate change conference in Glasgow in November 2020.
I had worked closely with the ACT for many years (since the FSB LIBOR project in 2013/14) and already had huge respect for the organisation, its leadership and its people. The role itself is very diverse and interesting and I could see how my experience and network could add value to the organisation and the wider treasury community. Together with my colleagues Sarah and Naresh, our small P&T team has a combined total of over 90 years’ financial management experience!
I have been fortunate to have worked with a number of people who inspired me, each in a different way. Looking back, I realise the common characteristics that stand out are their personal qualities (integrity, respect, kindness) more than their business abilities. As an 18-year-old backpacker I was inspired by the work ethic and teamwork of the Australian “jackeroos” (cowboys) with whom I worked for a few months – possibly the hardest job I’ve had to date.
That’s a question that only arises in interviews! In a business environment I strive to be professional, conscientious and creative – although a creative accountant may sound like a bad concept.
I’m involved with one of the City of London’s livery companies and recently completed a 7-year term chairing a charitable committee supporting three inner-city London primary schools. Previously I had been a school governor – a role that increasingly requires business skills and can provide a useful route for younger ACT members to gain ‘Board’ experience. I’ve just signed up for a charity mentor scheme, so I’m looking forward to seeing how that develops. Otherwise I’m kept busy providing a free taxi service to my teenage daughters!