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Future of Treasury - From Treasurer to CFO? 4 June 2010 | Paul van Vliet & Madelon van Tol

Future of Treasury - From Treasurer to CFO? 4 June 2010 | Paul van Vliet & Madelon van Tol. Content. Introduction Treasury Team Robert Walters Career Treasury 2010-2013 Results survey and some additional questions Hard skills you need Soft skills required

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Future of Treasury - From Treasurer to CFO? 4 June 2010 | Paul van Vliet & Madelon van Tol

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  1. Future of Treasury - From Treasurer to CFO?4 June 2010 | Paul van Vliet & Madelon van Tol

  2. Content • Introduction Treasury Team Robert Walters • Career Treasury 2010-2013 • Results survey and some additional questions • Hard skills you need • Soft skills required • Career advice and decision-making moments • Experience from Dick van Ommen, FD Heijmans

  3. Introduction Paul van Vliet • Degree in business economics • 15 years’ experience in finance recruitment • 10 years ago: first treasury placement Madelon van Tol • Degree in Law, experience as a lawyer and business developer • 1,5 year in recruitment of treasury professionals

  4. Career Treasury 2010-2013 • Risk Management is hot; as a result, treasury as well • First 6 months of 2010; more positions in the market for international cash managers and risk managers • Corporate and project finance is more in demand • Treasury Control and Accounting experience is asked • Treasury positions to foreign head offices (e.g. Switzerland) • Our expectations: increased hiring levels as treasury skills remain critical to business success

  5. The Netherlands are attractive for treasury activities • 16th economy of the world • Excellent infrastructure, airport and biggest harbour of Europe • Member of several international treaties, like the UN, EU and trade agreements like the WTO • Quite easy and not expensive to set up a legal entity • In Europe: the Netherlands is the cheapest place of business (source: KPMG) • Easy access to the money market (Euronext, Alternext, London Stock Exchange)

  6. Results of the on-line surveyFeedback of 107 participants

  7. 1: A job as Treasurer becomes more interesting in aneconomic downturn • About 25% does NOT agree • Curious: who did not agree and why? • The market informs us that the economic downturn makes the treasury job more challenging and interesting

  8. 2: The importance of a Treasurer in an organisation has grown since the economic crisis

  9. 3: In times of economic crisis where cash becomes a key area of focus, a CFO with a background in treasury is of more value than a CFO with a background in accounting • 65% Agrees • We will elaborate on this question at the end of the presentation

  10. 4: The Treasurer should come down from his/her ivory tower and get more involved with the business

  11. Are you enough involved in the business at the moment?

  12. 5: A RC degree is critical to advance from a treasuryposition into a FD/CFO function • 29 % agrees that a RC is a critical advantage • The majority thinks that accounting skills are needed

  13. PERSONAL DEVELOPMENT Do you want to become a CFO/FD? MORE RESPONSIBILITY MONEY WITH 45 YOU ARE OLD TREASURY WILL GET BORING STATUS

  14. 7/10/13: As a Treasurer you have what it takes to becomea FD/CFO • 37% agree • 39% is neutral • 24% does not agree • 50% has the ambition to become a FD/CFO

  15. Is additional education really necessary to make a step towards FD/CFO?

  16. 6: I have deliberately chosen a career in treasury

  17. Is it your ambition to grow as a Treasurer within different companies?

  18. Do you have enough accounting/controlling knowledge to become a FD/CFO?

  19. 8/9: Which career step towards FD/CFO works? • 45% thinks you need a step into accounting/controlling • Internal or directly external; you don’t know!

  20. 11: The required skills of a Treasurer are the same as that of a CFO

  21. 12/14: Within the treasury profession you will always find a suitable job • 40% thinks he/she will always find a suitable job • 54% disagrees with ‘Once a Treasurer always a Treasurer’

  22. Hard skills you need • Accounting knowledge • Controlling experience • Financial strategy and working capital knowledge • Finance education, the broader the better • Business knowledge

  23. Soft skills required • Trustworthy personality and politics awareness • Strong managerial skills • Vision about the business and future • Relationship building, internally and externally • Excellent communication skills • Charisma

  24. Career advice and decision-making moments • Education • First of second step in career; try not to specialise from the start • Don’t be afraid to take a step horizontally • Consider a step internally • Luck!!

  25. Within 5 years; do you still work in treasury?

  26. Thanks for your attention!

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