I started my career in the finance department at Woolworths where I took the AAT and CIMA exams. I decided to take the ACT qualifications after joining Premier Foods. We had just established a shared service centre and it was decided that adding some treasury tasks would increase the value to our shareholders. I initially completed the Diploma qualification but then continuing my studies with the Advanced Diploma which I completed in 2022. I have recently taken a role with Well Pharmacy and am looking forward to putting all I have learned into practice!
I love working within treasury - there is such an important part to play in terms of managing risks and raising awareness across commercial teams. The breadth and depth of what you are exposed to is truly unique as you have access to all areas of the business and there is a lot of value that the treasury team can add.
I’ve worked in a few very different industries and it's been fascinating to see how these industries work - there is always more to learn and this ensures I am continuously developing and engaged.
The start of the pandemic was very challenging, both from a treasury perspective and operationally.
Operationally – foremost, we had to keep our colleagues safe, so there was a lot of work and cost involved in social distancing at our manufacturing sites. This was coupled with an increase in workload as there was a real fear of food shortages, which to an extent became self-fulfilling as the public continued to bulk buy. We had to find new suppliers so we could protect the supply chain and we had to move our manufacturing sites to shift patterns to ensure 24/7 cover. All of this had to be completed within an extremely tight time frame.
Treasury perspective – there was a concern that liquidity might become an issue, so we drew a buffer on our RCF. We were in the process of paying down part of a bond, so we slowed this down until we had certainty. We faced increased costs and shorter terms from new and old suppliers and many of our customers who supplied schools and hospitality were experiencing real difficulties, which all put additional pressures on working capital.
During this period of time, we had very clear leadership and this was really important.
I now work for Well Pharmacy, part of the Bestway group. This company has just taken on new debt in order to support its planned growth. It felt like a good time to join this company, so that I was in at the start of this journey.
Definitely interest rate volatility and how we manage this. I also think working capital will be key, the NHS is a very large customer and receipts are very bulky. Additionally, exchange rate risk will need to be monitored, there is very little FX exposure at the minute, but as Well grows FX is likely to require more management.
I was involved in a very large securitisation project (£120m), across a number of banks. It was interesting to be involved in both the due diligence and the operation of this scheme, understanding the triggers and the reporting requirements was very challenging, but this scheme was vital to working capital.
People deliver the tasks, so it is important to understand how your people are feeling and what their needs are.
Very old school – notebook and pen. Though I have just ordered an electronic note pad for which I have high hopes!
I don’t really have one, but I love it went people take very simple ideas and make something great from them.
Radical Candor by Kim Scott, we read this a couple of years ago as part of our leadership book club, but I thought it might be worth revisiting now that I have started a new role.