Treasury Consultancy is one of those rare career paths that combines complexity, innovation, and opportunity in equal measure. At Treasurer Search, we recognize the unique appeal of treasury consultancy, where each day presents new challenges and fresh chances to make a tangible impact. Additionally, various treasury consultancy firms seek our expertise in scouting new talent. Let’s explore the factors that make this career path so appealing, while also exploring some drawbacks to keep in mind.

Why Treasury Consultancy?

High Investment in Education: Starting a career in treasury consultancy requires a solid financial foundation. Many employers invest in their employees’ education, covering certifications like CTP, ACT, RT, or CFA. This investment equips consultants with the expertise to navigate complex treasury demands and deliver valuable solutions to clients.

Ambitious Environment:  Treasury consultancy attracts ambitious individuals who thrive in fast-paced, intellectually stimulating environments. Working alongside like-minded peers promotes innovation and quality, driving consultants to continually excel and reach their full potential.

Growth Opportunities: In treasury consultancy, learning is continuous. Consultants stay current on regulatory changes, new technologies, and interpersonal skills, gaining numerous opportunities for personal and professional growth. The structure of consultancy firms allows successful individuals to advance, taking on more people management, client-facing, and expert roles.

Corporate Treasury Career Path:  For those aiming to transition into corporate treasury roles, consultancy provides an ideal foundation. Exposure to diverse industries and financial challenges gives consultants invaluable experience, positioning them as strategic assets in corporate finance and treasury teams.

Challenging and Exciting Projects:  Treasury consultancy projects, from optimizing cash management to restructuring companies, are diverse and challenging. Each engagement allows consultants to apply analytical skills, think critically, and make a real impact for clients. Never a dull moment!

Impactful Work:  Consultants have the satisfaction of making a tangible impact on clients’ financial strategies, contributing to their success and growth.

Navigating Challenges

Work-Life Balance:  While the dynamic nature of treasury consultancy is intriguing, it often involves demanding workloads and tight deadlines. Despite the rise of remote work, maintaining a healthy work-life balance requires proactive time management and prioritizing self-care.

Client Expectations:  Meeting client expectations requires technical expertise, strategic thinking, and effective communication. Consultants must adapt to each client’s unique needs, balancing priorities and navigating complex organizational dynamics. Often, the best solution competes with the most acceptable one, making it a challenging task.

Travel Requirements: Depending on the nature of consultancy engagements, extensive traveling may be required. While this can offer valuable opportunities for professional networking and cultural engagement, it’s essential to consider the potential impact on work-life balance and personal commitments.

Job Insecurity: Consultancy roles may be subject to market fluctuations and economic downturns, leading to job insecurity during uncertain times or when projects are scarce. Considering demographic developments in the current labour market, this is less of an issue nowadays.

Working in treasury consultancy offers a rewarding journey taking on complex financial activities to drive sustainable growth. At Treasurer Search, we’re committed to supporting talented professionals as they undertake this rewarding career path, helping them unlock their full potential and achieve their goals in the field of treasury consultancy.

Feel free to contact us if you want to enter treasury consultancy. We’re also here to support experienced treasury consultants looking to transition to corporate roles or other consultancy firms.

Not every strong hire is immediately obvious from the CV.

In a recent search for a Senior Treasury Analyst in a private equity-backed business, one candidate created some hesitation early on. The concern was not about capability, but perception. Based on years of experience, the profile seemed slightly junior for the role. That was a fair first impression.

However, after spending time with the candidate, I saw something different. It was not just about what they had done, but how they thought, how clearly they communicated, and the level of ownership they were already looking to take. There was a maturity that did not come through in the timeline of their experience, which made us look beyond the initial judgment.

We encouraged the client to have an initial conversation and explore that potential in more detail. That meeting changed the perspective.

What the client experienced directly matched what we had seen from the start. Someone who could operate comfortably in a PE environment, bring clarity into discussions, and grow into the role quickly while adding value early on. Within 3 to 4 weeks, an offer was made.

It is a good reminder that the best fit is not always the most obvious when reviewing profiles. Experience matters, but so do trajectory, mindset, and how someone will operate within a specific environment. These are not always visible at first glance, but they often make the difference once you engage with someone directly.

That is where we add value. Not just by presenting candidates, but by understanding them properly and recognising when someone can step into a role, even if their background does not fully reflect it yet.

For clients, this means staying open to a perspective beyond what is written down. For candidates, it means having someone ensure that their potential is not overlooked too early.

Because sometimes the right hire only becomes clear once you meet them.

In recruitment, the “perfect” match does not always reveal itself immediately. Sometimes, timing and perspective make all the difference.

In a recent search, we revisited a candidate who had been introduced to the client before. At the time, he was considered slightly overqualified for the role, and both sides moved on. Fast forward to a new intake, where the client reflected on their needs and concluded that more seniority and independence would actually add value to the team.

With that in mind, we reintroduced the same candidate. Rather than focusing on the earlier decision, both sides approached the conversation with a fresh perspective and genuine curiosity about the potential fit.

That shift in approach proved decisive.

During the discussions, it became clear that what was once seen as “too much” experience was now exactly what the role required. The candidate’s background, combined with the client’s evolved expectations, created a strong and natural alignment.

The result: a successful placement, starting May 1st. For the candidate, after nearly a year and a half of searching with limited feedback, this role ticked all the boxes: the right challenge, the right environment, and the right location.

This case is a good reminder that a “no” is not always final. Sometimes, the right match is already known, it just needs the right moment to come back into focus.

Preparing for an interview has always required reflection, structure and practice. Today, AI tools have entered the mix, promising perfectly phrased answers and instant feedback. Used well, they can sharpen your thinking. Used poorly, they can undermine your credibility. The difference lies not in the tool itself, but in how you approach it.

AI as a Sparring Partner: Clarifying Your Story

One of the strongest uses of AI in interview preparation is structuring your experience. Many professionals struggle not with competence, but with articulation. You know what you have done, but explaining it clearly and concisely under pressure is another matter.

For example, you might ask AI to help you structure a complex project using the STAR method. Instead of a vague answer like:

“I was responsible for liquidity forecasting and improved the process.” 

You can refine it into:

“In my previous role, our 13-week cash flow forecast had frequent variances of over 15%. I led a review of assumptions, aligned with FP&A and implemented weekly variance analysis. Within three months, forecast accuracy improved to within 5%, which strengthened our short-term funding decisions.” 

The substance is yours. AI simply helps you structure it. In this role, AI acts as a mirror, not a substitute.

Where It Goes Wrong: Over-Engineering Your Answers

Problems arise when candidates outsource their thinking entirely. Overly polished, generic answers are easy to recognise. They sound impressive but lack depth. For example: “I leverage cross-functional synergies to drive stakeholder alignment and optimise strategic financial outcomes.”

It sounds sophisticated. It says very little.

Interviewers will probe. When they ask for a concrete example, hesitation follows. If your preparation relied on memorising AI-generated scripts, you may struggle when the conversation moves off-script.

Worse, some candidates use real-time AI tools during virtual interviews. Aside from ethical concerns, this creates unnatural pauses and inconsistent language. If your tone suddenly shifts from conversational to textbook-perfect, it raises questions about authenticity.

Best Practice: Preparation, Not Performance

The most effective way to use AI is before the interview, not during it. Use it to:

• Generate potential follow-up questions.
• Stress-test your answers with critical feedback.
• Identify gaps in your experience compared to the job description.
• Practice behavioural and technical questions tailored to your industry.

Then personalise everything. Replace generic phrases with specific figures, names of systems, real challenges and lessons learned.

Remember: interviews are not exams. They are professional conversations. Authenticity, clarity and self-awareness matter more than flawless phrasing.

The Real Question: What Are You Optimising For?

Are you trying to sound impressive, or are you trying to be understood?

AI can help you sharpen your narrative and anticipate tough questions. But it cannot replace genuine reflection on your motivations, strengths and limitations.

If used thoughtfully, AI becomes a powerful preparation tool. If used as a crutch, it becomes a risk.

Ultimately, the strongest candidates are not those with the most polished answers, but those who can think clearly, respond honestly and adapt in real time. AI can support that process. It should never replace it.

The Belgian treasury market in 2025 reflects a function that has largely moved beyond basic cash management and into a more strategic, experience-driven role within organisations. Across sectors, companies are looking for treasury professionals who can operate independently, manage complexity, and contribute to financing, risk management, and transformation initiatives.

By looking at seniority levels, industry distribution, and geographic concentration, a clear picture is painted of how treasury roles are positioned in Belgium today, and where demand is structurally strong or limited. The data below highlights not only who is being hired, but also what kind of treasury function organisations are building.

Seniority Level:

The Belgian treasury market in 2025 was clearly tilted toward experienced profiles. Senior and managerial roles made up 36% of the market, closely followed by mid-level positions at 35%. Together, this means over 70% of treasury hiring targeted professionals with solid hands-on experience rather than entry-level talent.

Executive and Head of Treasury roles accounted for 15%, which is relatively high and points to ongoing leadership turnover, transformation projects, and succession planning. Junior and entry roles remained limited at just 7%, confirming that Belgium continues to be a tough market for early-career treasury profiles.

Industry Overview:

From an industry perspective, demand was well diversified but still higher in traditional sectors. Banking, insurance, and asset management led with 21.6%, narrowly ahead of industrial, FMCG, and manufacturing at 20.3%.

Infrastructure, energy, and utilities followed strongly at 16.2%, reflecting continued investment, financing complexity, and cash management needs in capital-intensive sectors.

The public and semi-public space also played a meaningful role at 11.5%, while consulting and advisory firms represented nearly 10%, underlining sustained demand for treasury transformation and project expertise.

Location Overview:

Geographically, the market remained highly centralized. Nearly 57% of roles were based in the Brussels region, including key business hubs such as Zaventem and Diegem. Flanders accounted for 23%, driven mainly by Antwerp and surrounding industrial clusters, while Wallonia represented a smaller share at 9.5%.

The remaining 10.8% reflects roles with a national scope or less specific location data, often linked to hybrid or multi-site setups.

Taken together, the 2025 data paints a picture of a mature and selective treasury market. Demand is concentrated at experienced levels, leadership roles are actively evolving, and junior entry points remain structurally limited. Industry demand is diversified but still rooted in financial services, industry, and infrastructure, while geography continues to favour Brussels as the dominant treasury hub.

For employers, this means competition for experienced treasury talent remains high. For professionals, it reinforces the importance of depth, adaptability, and cross-sector exposure. Belgium in 2025 is not a high-volume hiring market for treasury, but it is a market where expertise, leadership, and strategic capability are clearly valued.

If you want to discuss more on this topic, reach out to our Belgium specialist, Haia Aaraj.

After two years of growth our team stabilized at about 11. As from our start in 2009, we record all relevant job openings and potential assignments. This has always been for internal analysis purposes. For the first time we will give you some insight into treasury labour market developments. Team Germany and Belgium will be the first in this, keep an eye on what they publish. What I can say is that we see a gradual growth in all our markets.

We do see a shift in the three most common sources of success in recruitment:

1. Active search by employers themselves, often by internal recruiters;
2. Hiring managers going into their warm networks sourcing their new employees;
3. Recruitment agencies.

The first source remains important, advertising used to be print or job board oriented, nowadays social media, both for advertising as well as direct approach becomes more prominent. We notice that recruitment colleagues with a generalist approach have it harder than niche players like we are.

In the interim market we read and hear a lot around regulatory and compliance topics. There is a lot of concern but reality is that nothing changed for those companies who need temporary support. Especially Ron had an excellent second half of the year and we do not see that market slowing down.

As to the seniority of the candidates we find a new position for, we see an increase in success at group treasurer level. Personally I think in 2024 a bit too much of my time went into our internal organisation. In 2025 I enjoyed working on assignments at senior level. What is nice this does not go at the expense of junior assignments, we find from second career step up to retirement and are able to mirror this into our team: junior consultants for junior candidates, senior for seniors. And what is not standard in our industry, our consultants stay with the most junior already almost 2 years in the team.

One market plan I am very happy with, how it evolves, is our focus on what we internally call “treasury providers”. When we started, we had a sole focus on corporate treasury. Increasingly our clients asked for candidates with an expertise in consultancy, with TMS providers and from banks. And we were able to deliver. Very organically, these providers started asking us for staff and that client group is growing. We now have two specialized recruiters for this market.

A further nice development, not scheduled, was an increase in DCM and other funding assignments. Next to cash, risk, IT and other sub task fields, we always found funding experts but now the revenue share of this group grew, especially in the German market. Often this career station is the last before rising to group treasurer level and the strategic impact of these job holders can be huge.

As to what you can expect from us, we will not drastically change our ways. We remain niche recruiters, knowing more about corporate treasury than others and in most cases know the candidate before we find his/her next job. Two aspects will be prominent: technology (AI) and events.

I will not try to cover all that will change due to technology in our organization. But you might have noticed that Monique and Bianca both left our team after being with us over 10 years. In both cases, their initiative. In both cases to choose a whole new path in their career: HR and care. We will miss them and wish them well. Monique did a lot of meeting planning. As some of you might already have noticed, we implemented automation, where you can plan directly into our agenda.

This is a new, convenient and efficient way. Bianca worked a lot on updating and coding of files, so consultants can make the best matches. It will not surprise you that AI can make coding partly redundant. We are very happy Yvonne started because Monique and Bianca did so much more and not all can be automated.

In times that LinkedIn, WhatsApp and other channels become more prominent and many live meetings are replaced by video meetings, we notice that real dialogues remain essential in building real relations. This is why we will continue to invest in events. You can expects us at Eurofinance, FinanzSymposium, ATEB, ATEL, DACT and other events. Especially with the people of treasuryXL we have some exciting plans and personally, I will continue to moderate webinars.

Of course I will not and cannot disclose all details of our operations and plans but I want to wrap up with an internal, shared ambition. As confirmed at a recent DACT event, treasurers have a chance to have an increased impact on the strategy and results of their organization. Often their plans are solid, the step to take is claiming a place at the table. This also applies to leadership of teams. Success of treasury relies on quality of team members and how they are managed. This of course implies that the owner of a treasury recruitment process is the hiring manager. Our ambition is to support all hiring manager in reaching next level leadership impact.

On behalf of Team Treasurer Search, looking forward to making 2026 a success with you.

Pieter

Früher oder später stellt sich (fast) jeder diese Frage. Bevor es aber ernst wird, sollte man sich ehrlich klar machen, was man sich davon erhofft und dies auch in Relation zum Arbeitsmarkt stellen.

Wenn es um mehr Geld geht, kann ich eine Annahme aus meinen Gesprächen definitiv bestätigen! Häufigere Wechsel bringen höhere Gehälter. Kandidaten, die alle zwei bis drei Jahre wechseln, fordern deutlich mehr als andere mit gleich langer Erfahrung, die aber lange bei einem Unternehmen geblieben sind. Häufigere Wechsel können aber auch dafür sorgen, dass man von einigen Unternehmen als Job-Hopper angesehen wird und sich damit einige Chancen selber verbaut. Das kommt aber meiner Klientenerfahrung nach gar nicht so oft vor, wie ich anfangs mal vermutet hatte. In Deutschland gingen unsere bestbezahlten Vakanzen alle in die Richtung der Kapitalmarktfinanzierung, also dieser Bereich bringt auf jeden Fall höhere Gehälter mit sich.

Neue Aufgaben sind ebenfalls ein häufiger Grund für einen Wechsel. Hier ist es auch wichtig zu verstehen, wie die Unterschiede zwischen Junior-, Mid- und Senior-/Director-Vakanzen sind. Allgemein lässt sich sagen: Je senioriger die Stelle, desto weniger Vakanzen gibt es und desto größer wird auch die Konkurrenz aktuell, weil einfach viele seniorige Kandidaten Interesse haben, sich zu verändern. Die einzige Branche, wo es aktuell anders scheint, ist die Beratung. Dort gibt es nicht genug Seniors und es wird viel nach diesen gesucht. Zu den neuen Aufgaben, die man sich erhofft oder die einem versprochen werden, höre ich öfter etwas, was mich ein bisschen verwirrt. Und zwar, dass Kandidaten Aufgaben und Aussichten versprochen werden, die dann aber nicht eingehalten werden. Daher würde ich Kandidaten raten, in den späteren Gesprächen wirklich konkret zu werden und im späteren Bewerbungsprozess (zum Beispiel wenn es ein Angebot gibt) die eigene Kandidatenmacht zu nutzen, um Details einzufordern. Je klarer die Erwartungen, desto geringer das Risiko einer Enttäuschung, und im besten Fall legt man vertraglich einige Aspekte fest, sodass man auch etwas sicherer bleiben kann, sollte ein Wechsel der Führung der Grund sein für die nicht eingehaltenen Versprechen. Das scheint zumindest der häufigste Grund dafür zu sein.

Zum Thema der Weiterentwicklung habe ich vor kurzem einen der bestbezahlten Treasurer Deutschlands gefragt, was ihn erfolgreich gemacht hat. Er sagte mir, man solle bereit sein, Risiken einzugehen. Besonders wenn sich einmal eine Möglichkeit im Ausland bei der eigenen Firma ergibt. Da gibt es heutzutage laut ihm viel weniger Bewerber als noch vor einigen Jahren und das hat seiner Karriere immens geholfen. Einen weiteren sehr erfolgreichen Head of Treasury habe ich gefragt, wie man am besten Head of Treasury wird. Er empfiehlt den Einstieg in ein kleines Treasury-Team, da man dort alle Facetten des Treasury kennenlernt und so sehr generalistisch aufgestellt wird. Das laut seiner Meinung macht einen fit für die Leitung und Übernahme des gesamten Bereichs, früher oder später.

So oder so würde ich immer empfehlen, sich einen guten Überblick über die Risiken zu verschaffen. Wie sieht der aktuelle Treasury-Stellenmarkt aus? Gibt es genug Stellen, die auch das gewünschte Gehalt zahlen würden? Wie groß ist der Umkreis, in dem man sucht, und wie viele Unternehmen gibt es in diesem, die auch interessant für einen selber sind? Denn wenn es schlimmstenfalls dazu kommt, dass man eine neue Stelle annimmt und diese nicht die richtige ist, ist man meiner Erfahrung nach aktuell nicht in einer guten Position, schnell eine neue Stelle zu finden.

Ein Jobwechsel bringt (fast) immer mehr Geld, neue Aufgaben und eine Weiterentwicklung. Er ist aber auch mit Risiken verbunden und diese sind manchmal höher als zu anderen Zeiten. Die beste Vorbereitung ist Klarheit über die eigenen Wünsche und Ziele und ein ernsthafter Einblick auf den Arbeitsmarkt. Für diese Informationen ist ein spezialisierter Recruiter sehr hilfreich, zumindest würde ich es so machen. Hier aber trotzdem immer fragen, woher diese Informationen kommen, da Recruiter gerne als Experten gelten wollen (was aber nicht unbedingt der Fall sein muss).

Also eine Sache, die mir wirklich hängen geblieben ist von der Zukunft Personal, ist die Menge an Benefit-Anbietern. Von Essensgutscheinen über steuerfreie Sachbezüge bis hin zu Mental-Health-Programmen und bedruckten Flaschen, alles war vertreten. Es scheint also, dass es einen Markt gibt und Unternehmen viel Geld in Benefits investieren. Aber machen diese Angebote wirklich den Unterschied?

Ich spreche täglich mit Treasury-Kandidaten über ihre Beweggründe für einen Wechsel. Und die Antworten sind sehr konstant: Es geht um die Aufgaben, Homeoffice, das Gehalt und manchmal auch um die Industrie. Was nie den Ausschlag gibt? Ob das Deutschlandticket mit 25 Euro bezuschusst wird oder nicht. Was bei einem Jahresgehalt von 80.000 Euro kein Wunder sein sollte.

Was sagen die Studien?

• Die WTW Global Benefits Attitudes Survey 2024 zeigt, dass 32 Prozent der Beschäftigten wegen besserer Benefits den Job wechseln würden, aber nur, wenn Gehalt und Tätigkeit gleich bleiben. Gleichzeitig bleiben Vergütung und Jobsicherheit die Top-Faktoren.
• Die Studie von Lurse & MBWL bestätigt: Neben Gehalt sind Remote-Arbeit, Work-Life-Balance und Weiterbildung die entscheidenden Benefits. ESG-Faktoren wie Gesundheit und Entwicklung werden zunehmend wichtig.

Was höre ich fast immer von Treasury-Kandidaten?

• Juniors wollen Entwicklungsmöglichkeiten. Eine Vakanz als Chance, sich einzubringen und durch die Arbeit das eigene Wachstum zu fördern.
• Seniors suchen Gestaltungsspielraum. Die eigenen Ideen und Erfahrungen wirklich einbringen zu können und Vertrauen in die Kompetenzen des Kandidaten zu spüren.

Benefits sind Teil des Marketings, aber sie müssen ehrlich sein. Ein Obstkorb oder ein Zuschuss zum Ticket sind nett, aber für Niemanden ein Grund für einen Wechsel. Entscheidend sind Rahmenbedingungen, Perspektiven und Wertschätzung.

Am Ende geht es nicht um mehr Benefits, sondern um die richtigen: Flexibilität als Standard, Weiterbildung als Teil des Jobs und Gestaltungsspielraum.

Und genau hier liegt die Chance: Statt den Fokus auf den nächsten Gutschein oder das Deutschlandticket zu legen, lohnt es sich, die gesamte Vakanz so zu formulieren, dass sie die echten Beweggründe der Kandidaten anspricht.

Denn das überzeugt und nicht der Obstkorb.