Match of the Month - February 2024

One of the very first blogs we ever published was entitled “Is corporate treasury a career dead end? Back then, even more than today, becoming a CFO was considered the holy grail for treasurers.

As part of our niche strategy, we do not take on CFO recruitment assignments. Unless it makes sense for a treasurer to move into the CFO role. In this match of the month, our client is a fast-growing e-commerce company with a global presence. In their growth, they have not yet built their treasury department, but they have organised their control and accounting well. It is essential for the company’s strategy to organise payment processes well and to secure funding for further growth. Both equity and debt.

We were asked to find an overqualified treasurer with a start-up mentality and the ability to take on broad responsibilities: a potential CFO. We found a candidate who, at a young age, had already covered group treasury and control responsibilities and had a background in competitive sport. The match was made and we can celebrate another success.

Feel free to contact us for advice on your recruitment process.

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Your Treasurer's Leaving? Here's Your Game Plan

Imagine this: just before the end of the month, your treasurer comes to your office and hands you a letter; his resignation letter. He informs you that he has found another job outside your company, he has a one-month notice period, and he would still like to take his accumulated holiday days. On balance, he would only be productive for your company for a short time.

While unforeseen, this presents an opportunity to proactively address the impending vacancy. Finding a permanent replacement often requires dedicated time and resources, which your currently overburdened team may lack. The search can easily extend beyond 3 months, creating a potential gap in critical financial oversight.

Introducing the Interim Treasurer: A seasoned professional, they bring extensive experience across diverse organizations and projects. Their adaptability allows them to swiftly grasp your specific needs and operational environment, minimizing onboarding time and disruptions.

Benefits of an Interim Treasurer

  • Continuity and Stability: They bridge the gap between your departing Treasurer and your chosen permanent successor, ensuring uninterrupted treasury management.
  • Expertise on Demand: Their proven track record and diverse skillset provide immediate support, addressing potential concerns during the transition phase.
  • Focus on Core Functions: You and your team can dedicate yourselves to core competencies while the interim professional handles vital financial tasks.
  • Flexibility Tailored to You: Location, hours, and specific duties can be tailored to your organization’s unique requirements.

Finding the Perfect Match: Locating qualified interim Treasurers can be challenging, requiring access to a specialized network. With a pool of nearly 200 pre-vetted professionals, I can assist you in identifying candidates ideally suited to your specific needs.

Let’s Discuss Your Options: Schedule a confidential consultation with me to discuss your unique situation and explore how an interim Treasurer can ensure a smooth and successful transition for your organization. Let’s make a call, shall we?

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2023 to 2024 – Looking back and forth

2023 was for Treasurer Search the year that the pieces of the puzzle came together so this year we can celebrate our 15th birthday in the next maturity stage. Before, we were a group of dedicated generalists with treasury recruitment expertise, each of us covering many different tasks. When we went past 10 employees, currently 12, we noticed that specialization is possible and increases efficiency. We now have team members only focusing on well-known tasks such as marketing and we have a controller. Also on recruitment sub-tasks, we can focus more. Still, we know from each other what we do and inform each other every day at the “dagstart”.

Growth and expanding Expertise

From a market and results perspective, we continue the trend of previous years. Again, we set a new placement record which is of course great. As we want to be known as a stable team with faces you have seen before, we continue investing in a sensible growth rate. So you can expect new team members in 2024. Within our portfolio we see extra growth in areas we invested in: interim management by Ron, the German market by Britta & Alana and the senior executive level, my focus.

Because of our size, we can also invest in aspects that are perhaps less visible for you but still very important. Bianca leads us in storing and retrieving all that is relevant for candidates and clients as accurately and up-to-date as possible. Alana will ask you about what is important for you in treasury recruitment and help us with the best process management. Kim takes the lead in further investments in recruitment skills and the application of Big5/OCEAN personality typology in our work. The Treasurer Test will continue to play a role in our services.

Observing Treasury Labor Market Dynamics

My observation over the last 15 years is that the treasury labour market is dynamic but not as volatile as other (labour) markets. Of course we see an increased focus on technology but that is in all job types. In 2022 we had, in comparison to other years, many treasury control assignments. Last year we saw an increase in corporate finance/funding positions, and at the start of this year this continued. If this is part of a shift of focus in corporate treasury I cannot tell yet. In The Netherlands, Luxembourg and Dubai, already quite long non-natives are successfully recruited. In the German labour market this now also happens increasingly. Many of our Belgian clients still ask for locals.

Interim Management: A Cornerstone of Our Portfolio

Interim management has taken a prominent role in our portfolio and is there to stay. We are being called to fill temporary gaps, bring in expertise or even do transition or crisis management. Although there is constant talk about changes in tax and legal aspects, this does not seem to materialize. We do notice that interim management customs and fees are very different in our various home markets (Benelux and DACH) and act accordingly. Furthermore market shares between bulk recruiters, treasury consultants and niche recruiters like Treasurer Search shift depending on the need for speed, expertise and fee level. Personally, I do expect further shifts and a maturing market.

Treasurer Search in 2024

2024 for Treasurer Search will be about executing the plans we made in 2023. We will contact you personally, through calls, at events like DACT/FinanzSymosium/Eurofinance and webinars, to find out how we can support you in your recruitment needs and career plans. We look forward to hearing from you what you value in our services and to achieving success with you. Don’t forget that human capital is your biggest asset and career decisions are, next to family & housing, the ones with the most impact on your life.

Have a great 2024!

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Match of the Month - January 2024

A long time client of ours contacted us for the search of a treasury team lead. Having already recruited 5 team members in the past, we already know the company very well. And I am happy to say that yet again were able to successfully support them in their recruitment process!

An interesting part of their recruitment process is that they always ask us to anonymize our candidate profiles before presenting. This means we remove all of the candidates’ information that can cause bias. Name, gender, nationality, age, and other details irrelevant to the job are left out, while important information, like qualifications and experience remains. That way our client reduces (unconscious) hiring biases to improve diversity in their workforce and to make better match-making decisions. Looking at their very international diverse and skilled workforce, I would say it is a successful strategy for them.

I do want to add one important note of caution: In orde to make a blind hiring policy work, it should be paired with de-biasing strategies at the interview stage, since interviews are generally conducted in an unblind fashion (writes Sean Fath in Harvard Business Review). If you abstain from this, blind hiring will lead to higher interview selection rates for members of disadvantaged groups but will ultimately not increase their likelihood of getting job offers after interviews. One especially promising strategy to reduce discrimination at the interview stage involves the use of structured interviewing, which keeps interviewers focused on job-related questions only and reduces the impact of affinity bias— our natural preference for people who are similar to ourselves— on interview assessments.

Want to know if a blind hiring strategy could work for you? Feel free to contact us for advice on your recruitment process.

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Treasurer Search: Meet us in person in 2024!

We are pleased to announce our upcoming participation in two major treasury industry events: the DACT (Dutch Association of Corporate Treasurers) annual event in March and the Finance Symposium in Mannheim, Germany, in April. These events provide invaluable opportunities for us to connect with our treasured clients and candidates, share insights on the latest treasury trends, and sustain meaningful relationships within the treasury community.

DACT Annual Event: March 2024

Join us at the DACT annual event on March 14-15. The DACT Treasury Fair, now in its 20th edition, serves as a platform for treasury professionals to connect, learn, and network.

Our team will be here on hand to discuss the challenges and opportunities treasury professionals are facing today, and how we can help you find the right fit for your organization. We’re particularly excited to share our insights on the growing demand for experienced treasury professionals with deep expertise in risk management, data analytics, and digital transformation.

Finance Symposium in Mannheim: April 2024

In April (17-19), we’ll be expanding our reach to Mannheim, Germany, for the Finance Symposium, a premier event for treasurers and finance professionals from across Europe. This event offers a comprehensive programm and showcases the latest trends in treasury and finance.

Our German team is excited to meet candidates and clients, to also broaden our German treasurer network. During the event, we’ll share what we’ve discovered from facing challenges and seizing opportunities in the German market since we kicked off our German expansion in 2023

Are You Planning to Attend?

Let’s meet!

We encourage all treasurers, finance professionals, and recruitment partners to meet us, as we are always eager to discuss your career aspirations or talent acquisition needs. We’re excited to connect with you and contribute to the success of the treasury community in 2024!

Treasury Events 2024

Where can we meet you?

I will be attending:

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The Power of our Interim Treasury Network

  • With an impressive network of 300+ interim treasury professionals at Treasurer Search, including about 200 based in the Netherlands, we are committed to connecting organizations with the exceptional talent they need to excel in their treasury operations.
  • We maintain active communication with over 80% of our interim network, ensuring their readiness to assist our clients when needed. This dedicated effort has proven invaluable, enabling us to swiftly match our clients with the perfect interim treasury professional to address their specific needs. This depth of expertise enables them to seamlessly integrate into organizations across diverse industries, providing invaluable guidance and support.
  • More than 50% of these interimmers have over 10 years of treasury experience to offer, so we always have the right talent for your treasury needs. They can bring a wealth of expertise and insights to your organization.

Our interimmers are specialized in BO operations, Cash Management, Analyses and reporting, Leading implementations, treasury departmental transformations, securitisations, Risk and Corporate finance.
Partner with our network to enhance your treasury management capabilities and drive strategic growth for your organization. Contact Ron today to discuss your specific requirements and discover how our experienced interim professionals can elevate your treasury operations to new heights.

Discuss Interim Treasury Possibilities

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#treasuryissexy

Have you ever wondered what goes on behind the scenes in a company’s treasury department? Are you curious about how treasurers manage finances, mitigate risks, and make money for their organizations?

Well, we’re here to tell you that treasury is a fascinating and important field that can make a real difference in a company’s success. And we’re also here to make treasury more understandable and accessible to everyone.

Easy understanding of Treasury

That’s why we’re launching a new campaign called #treasuryissexy. We’re using this hashtag to share short, simple messages about treasury that are easy for non-treasurers to understand.

For example, we’ll talk about how treasurers use strategies like hedging and forwards to protect their companies from currency fluctuations. We’ll also explain how treasurers work with other departments, such as sales and marketing, to make sure that the company is making the most of its financial resources.

We hope that by making treasury more relatable and engaging, we can encourage more people to learn about this exciting field and consider a career in treasury.

So, join us in the conversation! Share your thoughts on treasury and use the hashtag #treasuryissexy to show your support.

Together, we can make treasury more sexy than ever!

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Match of the Month - December 2023

Our client S is a trading house that recruited a senior treasurer with whom we have been in touch with for a very long time. We worked together briefly and have gotten to know each other better over time. Not only we learned what works but also what does not work for them. P is an interim manager we have been in touch with since August 2010.

Over time we spoke about dozens of assignments and so far he picked up 5 through our services. At first, we did not know how well his trading industry expertise was but he showed in one of his assignments, where dealing with the complexity in various markets was one of his tasks, that he covered this task well.

References were good. When S came to us with an interim assignment for a position in the trading industry, all consultants directly mentioned P. This is not a guarantee that the match will be made but in this case, it was swiftly. With this in mind, we analyzed the ratio between the average number of candidates presented per interim placement over time and saw this went down. This might have to do with a tightening labour market but we hope it is also because we can better screen and match among the 200 interim treasurers we are in touch with within the Dutch labour market regularly.

Contact us today if you need help finding the right talent.

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Why our Big5 ambitions are relevant for you

Being treasury niche recruiters, our clients and candidates expect we have corporate treasury knowledge. Luckily we do. But there is more to the recruitment trade. Let me describe a brief client conversation we have often:

– Next to treasury skills we expect the candidate always to have the right personality
– Of course, you do, very important. What specifically do you look at?
– Uhm, communicative, proactive, and detail-oriented…..?
– Aha, and how do you measure if your candidate brings this?
-….

Making our conversations about personality more concrete is not only important for our client intakes, where the topic does not always get the attention it deserves. Of course, the opinion of the client about the candidate is essential but also vice versa. We should be able to inform candidates about what personality is required in order to assess the match.

Internally we started working with the Big5 typology to interview more structured, make better matches, record properly, and inform our colleagues about our conversations. When the candidate completes the Treasurer Test, we can compare our notes with the results. This way we train ourselves and become better matchmakers.

Big5 is one of the few statistically and scientifically sound typologies to describe personality traits. Both on our own website, as well as on that of the Treasurer Test you can read about why we are positive. Statements about tested candidates are not “good, worse, or better”, they are about aspects like openness to new developments, extroversions, and conscientiousness. To make this more tangible, the last aspect includes, for example, the trait “detail-oriented”. In our perception, this one is essential in many corporate treasury positions.

We will ask for your support in due time for the following. Many Big5 assessments measure over 50 personality traits. Learning about and working with each is too labour-intensive. With psychologists and within our team, we chose 16 we think are most relevant for the job of treasurer. Through online surveys, we will ask you to choose what you think is most important so we can measure and report on what is most relevant for you. It is an exciting topic, all about the quality of match-making and shaping the best team you can have. We hope you will join and complete the survey in due time.

Fill out the survey here

Thank you

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Meet us in person next week!

Next week presents an exceptional opportunity for a face-to-face connection with our team.

Ron will be in Amsterdam on Tuesday, 28 November, actively participating in The Working Capital Forum Europe 2023. Delve into insightful discussions and take the chance to connect with Ron at The Working Capital Forum Europe 2023.

Additionally, Pieter will attend the ATEL Tech Day 2023 in Luxembourg on Thursday, 30 November. This is an excellent opportunity to catch up with Pieter, and explore the latest technological trends shaping our industry.

We look forward to meeting you in person and sharing valuable insights at these noteworthy gatherings.

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