Member story: Kash Hussain, Head of Interbank Foreign Exchange, JS Bank

1. Please provide a brief overview of your career to date.

I have had the privilege of working with a diverse set of companies. From the biggest bank in the world at the time (Citigroup) in early 2000s to challenger banks 10 years later at Metro and Cambridge & Counties banks. In between I have had a chance to work for Cisco to experience treasury from the corporate perspective. It has been an exciting journey and one that has allowed me to experience different cultures and approaches.

2. What has been the most interesting project you have been involved with and why?

I was responsible for the implementation of a new branch operating systems in our European branches while I worked for Citigroup. This led me to move to Vienna for 4 months, followed by 4 months in Copenhagen and Brussels. This allowed me to experience different cultures and work ethics and to see how transformation projects are viewed in different countries. It allowed me to understand the psyche of dealing with people resistant to change and those who may well be keen but are unable to approach it in a coherent and organised fashion.

3. How do you think treasury has changed as a result of the pandemic?

I think the pandemic has served us two very important lessons. Firstly, we cannot ever assume that things will continue “just as they are” and teams that have been slow to adapt to forced change have suffered accordingly. Secondly, it has opened up the possibilities of what we could do without and how our own capabilities can allow transformational changes. The need to work as part of a team, but not in the traditional sense, has increased dependency on colleagues to get the best out of each other. In a strange way, working in isolation has brought people together like never before.

4. You have worked in treasury in Pakistan and the UK. Are there any differences in the approach to treasury in these countries?

I feel that the treasury function worldwide has evolved tremendously in the last 10 years. The fundamental difference I have experienced between the two countries is the reluctance to take on more innovation in treasury functions in Pakistan. The lack of trust in the potential benefits from technological advancement appears a big impediment, however small start-ups have challenged that in the payments solution field, and slowly but surely the tide is turning in developing countries. Back home in the UK, the advent of Fintech firms has changed the nature of our approach to treasury and LIBOR transition has further precipitated that change.

5. What are the key issues affecting those working in treasury in Pakistan?

The digital banking trend has now gathered pace and smartphones and technological advancement are leading to massive disruption in the banking sector in Pakistan. Although a large section of the society remains unbanked, over 50% of the population now has access to smartphones and over 90% to mobile coverage. A key issue will be the inclusion of the unbanked (which currently stands at 60% of the population) and the possibilities this entails.

Within treasury, one of the key changes is around brokerage firms. JS Bank are now providing FX portals to corporates to further enhance trading opportunities and the increased interbank activity on FX portals is further eroding the space for traditional brokerage firms.

6. What would you say to other bankers thinking of taking the AMCT qualification?

I don’t think you can make a serious contribution in treasury without obtaining the AMCT anymore. The increasingly complex world of treasury requires an in-depth knowledge and confidence to address these challenges. I believe the qualification has helped me to derive more confidence in problem solving and take on newer challenges. Having worked in treasury for over 10 years I cannot recommend the AMCT qualification enough for anyone wishing to make an indelible impression in this area.

7. What member benefit do you use the most?

The technical update and research insights are the most valuable tools and they help me to keep abreast with the changes and latest developments - they provide some excellent detail on technical aspects. I feel this is an invaluable source for assessing market trends and continually enhancing my learning.

8. What gadget could you not do without and why?

My iphone – which is invaluable to ensure I remain updated with news on Twitter.

9. What three words would you use to describe yourself?

Exuberant, Perseverant and Learner.

10. What is the best piece of advice you have been given?

I recall a former manager who advised me not to ponder over a disappointment or a career setback for too long, the rationale being that it would only make you question more than you needed to, and take time away from moving forward. In the same vein, he urged us not to celebrate our success for too long either.