In any treasury, leadership should not be confined to those in managerial roles. Whatever your role, exhibiting leadership qualities can help you to succeed and prepare you for the future.
Use this blog as a starting point to build in new practices into your day, so you can quickly be recognised as a leader within your treasury team.
Effective communication
Quality communication is fundamental as treasurers. Others in the business look to us to translate complex financial concepts for stakeholders, from board members to other teams in finance. Although this is a tough skill to master, the best place to start is to try active listening. Listening intently, and confirming your understanding will not only help you to build your own knowledge but also to enable you to have meaningful conversations. This will help you to express your ideas more clearly too. Being able to communicate clearly can influence and inspire others, fostering a collaborative environment across the finance function.
Real-life example
Use department meetings as an opportunity to practise. You should listen carefully to concerns from different teams and try to build upon their ideas. You could do this by asking questions, or clarifying something which you may not understand as it is likely others will be in the same position as you. Being confident enough to speak out will set you apart from your peers.
Accountability
A leader is responsible for the performance of their team and what they deliver. Taking responsibility for your actions, whether they lead to success or failure, is a strong leadership trait. As a treasurer who is responsible for safeguarding company assets, acting with integrity will allow others to build trust in you and your work.
Real-life example
If you make an error when preparing the cash flow forecast, which leads to an incorrect cash management decision, acknowledge your part in it. Take time to analyse what assumptions were incorrect, and suggest ways to improve in future. Taking ownership of errors when they occur and finding solutions and process improvements to prevent it reoccurring shows you take total ownership of your work.
Continuous Professional Development (CPD)
The role of a treasurer is constantly evolving to adapt to new regulations, technologies, and market conditions. Investing in your personal and professional development shows a commitment to growth. Seek out learning opportunities, whether through formal treasury qualifications, industry conferences, or self-study.
Real-life example
Pursue your ACT qualification or attend sessions on topics like ESG financing or digital currencies. Share your new knowledge with your team by presenting insights from a recent conference or explaining how a new regulation might impact your organisation's treasury operations. You should view your team as a safe space where you can share information openly.
Seek and provide feedback
Influential leaders actively seek feedback and use it as their means to develop, they want to understand how they are perceived and if they are operating optimally. Where this tool can be used most efficiently is to ask for feedback on a specific topic that you are currently developing. Similarly, providing constructive feedback to those around you will help raise your profile as a contributing team member and build relationships within your organisation.
Real-life example
After a department meeting where you actively contributed to the session and shared your ideas, you could seek feedback from a peer or your manager to understand if your input had the desired impact. Using their feedback you could implement the suggested changes, and ask for a follow up feedback session to understand how you are improving.
Relationships and networking
Treasury is fundamentally about relationships with banks, rating agencies, investors, and internal stakeholders. Building strong, positive relationships with your colleagues can help you influence and motivate them. Understanding and empathising with others fosters trust and respect. Developing your network outside of the business will open you up to new opportunities and further develop your communication skills.
Real-life example
Take time to understand the challenges faced by different departments, ask to spend some time sitting with the accounting team or another department you work closely with. Understand deeply how treasury decisions impact them. Try to build rapport with your banking partners by speaking to them on the phone and in person when you can.
Taking the next step
These are just a few ideas you can use to incorporate leadership behaviour into your daily work life. You can exhibit leadership qualities that will not only benefit your treasury team but also position you as a potential leader in your organisation. Leadership is about behaviour, mindset, and actions, not just titles or reporting lines.
Treasury is unique as it presents opportunities to demonstrate leadership skills because of our central role in the organisation and the regular interaction with many different stakeholders. Take advantage of this, and start now. By building these and other practices into your day, you will quickly be recognised as a leader and naturally more opportunities will present themselves.
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This blog was written by Jennifer Pearson, CEO and Founder, TreasuryEdge who is a member of the Future Leaders in Treasury working group. To find out more about the group please visit the Future Leaders in Treasury webpage.