As an experienced treasury professional, you might find yourself at a crucial point in your career where you are trying to figure out: what’s next? If your ambition is to go up in hierarchy, two obvious paths come to mind: Group Treasurer (GT) and Chief Financial Officer (CFO). While both offer significant leadership responsibilities and strategic influence, each requires a different skill set and career path. Understanding these differences is important to help you determine which path suits you best.

Group Treasurer: Deepening Expertise and Fostering Collaboration

The Group Treasurer oversees the financial health of the organisation with a focus on core treasury functions: cash flow management, risk mitigation and capital structure optimisation. This role is for individuals who also enjoy technical mastery. You will dive into complex areas such as foreign exchange, derivatives and cash pooling strategies, cementing your position as a treasury expert.

But the GT role is not just technical. Effective leadership and communication are increasingly important. You will bridge the gap between treasury and other departments, ensuring alignment with business objectives. Building strong relationships with stakeholders across the organisation is essential to your success.

Chief Financial Officer: Broader Leadership and Strategic Decision-Making

The CFO position elevates you to the C-suite and places you at the forefront of the company’s financial strategy. You will oversee not only treasury, but also financial planning, accounting, reporting, budgeting and organizational development. And connecting these finance fields to the strategy of the company, reactive as well as proactive. This broader portfolio requires a more diverse skill set. Strategic intelligence is essential. You will provide critical financial insight to the CEO, ensuring decisions drive growth and profitability. Understanding the bigger picture and how finance contributes to the broader business strategy is essential. While treasury expertise remains valuable, a strong understanding of financial analysis, accounting principles, and regulatory compliance is crucial.

The Choice: Aligning Aspirations with Role Requirements

Choosing between these two career parts, it is crucial to look at yourself and think about what drives you. You will want to assess what are your strengths and weaknesses, and what about your job makes you happy?

• Do you thrive on technical challenges and diving deep into treasury topics? Then the Group Treasurer role may be more suitable for you. You will act as a specialist and will need strong communication skills to explain treasury to laymen, to collaborate with other departments and to maintain relationships with external partners (such as banks and investors).
• Or, perhaps you like to have a broader role and expand your knowledge outside the treasury field? And have more of an impact on the overall financial health of an organization? Then looking into the CFO path could be a good choice for you. As a CFO, you will also need strong communication and leadership skills to manage multiple finance teams, communicate with stakeholders (board of directors/shareholders/investors), and drive organizational change. But maybe most important, with this expansion of influence also comes greater responsibility, and you will need to feel comfortable being the one making tough decisions that impact the whole organisation. Because when you make a misstep, the ripple becomes a tidal wave!

At the end of the day, both the CFO and Group Treasurer positions are rewarding top-ups to a successful finance career. Do you find yourself wrestling with this decision? At Treasurer Search, we specialise in connecting top treasury professionals with their ideal career opportunities. Contact us when you want to talk about your career path! We are happy to provide you with our guidance.

You can also read our other blogs about strategic career planning:

Next to international treasurers moving around the world for their careers, we see an increasing number wanting to stay where they are or return to the place where they were born.

In The Netherlands, for example, many enjoy living near the border. Like we do in Venlo. Our client in the match of the month also has an office close to the German border and had a demanding assignment for us: find local talent that speaks Dutch AND has expertise in project finance. The talent pool for this in that region is near to non-existent, especially in the current tight labour market.

At the end of the process, the client had the option to choose between a local hero with a lot of long-term potential for the company, and a project finance expert. The first landed a new position. What made the match extra sweet for us, was that we met him already over ten years ago, kept in touch and the investment paid out. That’s why we love our jobs.

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

As a treasury leader, you understand the importance of effective cash flow management, risk mitigation and strategic financial planning. But your role goes beyond these core responsibilities. Building a high-performing team is fundamental to your department’s success. This blog explores key considerations for treasury leaders in building a strong talent pool.

Proactive Succession Planning

While internal recruiters can facilitate the initial stages of hiring, the responsibility for maintaining a robust talent pipeline ultimately falls on your shoulders. Succession planning is a critical aspect of this responsibility. By anticipating potential departures and identifying the skills required for future growth, you can proactively source and develop talent internally. This proactive approach ensures a smooth transition and minimises disruption.

Build a well-rounded Treasury Team

While technical skills are essential, focusing solely on resumes creates a narrow lens. Look for candidates who have complementary skills and personality traits that contribute to a high-functioning team. A strong leader may need a detail-oriented teammate to ensure a balanced and efficient operation. Prioritising cultural fit alongside technical competence will encourage collaboration, build team spirit and ultimately drive departmental success.

Expand your Search

Relying solely on internal recruiters or external agencies introduces an element of risk. To mitigate this, explore alternative recruitment channels. Industry conferences, professional organisations and targeted online platforms can be valuable sources of highly skilled individuals. Proactive outreach demonstrates initiative and commitment to strengthening your team.

Strategies to Retain Your Top Treasury Talent

Attracting talent is only the beginning. Retaining high performers is just as important. Prioritise professional development opportunities to enhance their skills and keep them abreast of evolving industry trends. Clearly defined career paths provide motivation and demonstrate a commitment to employee growth. In addition, fostering a culture of open communication, appreciation and work-life balance creates a positive work environment, promotes employee satisfaction and reduces turnover.

Conclusion: Building a strong treasury team together

At Treasurer Search, we understand the unique challenges faced by Treasury leaders in building exceptional teams. Our extensive market knowledge, combined with a focus on long-term client relationships, positions us as your trusted partner in managing the talent spectrum.

We invite you to get in touch with us! We look forward to discussing your specific needs and working with you to build a high-performing treasury team that will enable your department to achieve its strategic goals.

You are busy with the day-to-day running of the business, right? The crucial treasury responsibility may also lie with you. Then you know this part is never finished, and that’s where we step in.

Treasurer Search is THE PARTNER for finding interim treasurers, we are the biggest party in the Benelux in this field, and this is why:

Treasurer Search has…

• A high-quality network: We have more than 300 interim treasurers worldwide, and almost 200 in the Netherlands, with diverse expertise and experience.
• Fast results: Most of our assignments are filled in within a few days.
• Familiarity: We know all our interim treasurers personally, know what they are capable of, and when they are available.
• Personal service: We take the time to discuss your needs and requirements.

Do you already know in which area you need reinforcement? We have interim staff available for various treasury disciplines, such as:

• TMS implementation
• Managing operations
• FX management & policies
• Funding
• Daily Cash Management

Connect now with your partner for interim treasurers, and let me bring you added value to your business. In for a quick call?

The story of this Match of the Month is about a non-European with a great education, a lot of talent and a bit of relevant experience. We presented him to many clients both for permanent as well as interim roles. Often him not being an EU citizen seemed to be an issue. His first assignment in The Netherlands he picked up through our services and he delivers ever since.

We found him various positions and not too long ago he picked up a new assignment through another recruiter. As turned out, it wasn’t made a match in heaven, and the assignment ended prematurely. Contracts in interim management deserve a professional approach, both in setup as well as roll out. Luckily one of our clients asked him to return so he is back on track with the support of our interim management expert Ron.

This experience underscores a crucial element we consider during interim placements: matching personalities, not only just skills. The most qualified candidate on paper might not always translate to a smooth working relationship within the client’s team.

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

Recruiting for a treasury specialist is different from recruiting for a Group Treasurer. Technical skills and knowledge are considered a given at this level, personality becomes a more important factor, and stronger connections to business leaders are expected. Mass recruiters are not used anymore, companies are less likely to do the search themselves, and senior executive firms and niche firms like ours are used to find the candidate.

Why finding your next Top Treasury Executive requires a specialised approach

Finding a new Treasury Professional may seem straightforward, but when it comes to group treasurers, a whole new level of expertise is required. At Treasurer Search, we understand the nuances of these critical roles and the specialised approach required to attract top talent. Pieter found his first Group Treasurer of a listed firm before 2000, a first in a string of many that is still being extended.

The Importance of Soft Skills

While technical skills and financial knowledge are essential, they only paint part of the picture for a Group Treasurer. Even more than for junior and medior treasurers. At this senior level, soft skills become paramount. The ideal candidate will possess:

• Strategic thinking: The ability to align treasury functions with overall business objectives.
• Strong communication skills: Collaborate effectively and communicate complex financial concepts to diverse stakeholders.
• Leadership: Inspiring and guiding a team to achieve key financial goals.
• Business acumen: Understanding the broader business environment and its impact on financial strategy.
• Relationship building: Fostering strong relationships with internal and external partners.

Tailored Recruitment Strategies

Finding a Group Treasurer demands a far more targeted approach than relying on bulk recruitment methods. These senior positions are rarely filled, and companies often lack the internal expertise to conduct a thorough search. This is where specialized executive search firms like Treasurer Search come in. Identifying & screening candidates, approaching them, and guiding the process are handled more thoroughly and discretely than with junior positions.

Our Approach

• Deep industry knowledge: We possess and continue to invest in a comprehensive understanding of treasury across various sectors, allowing us to identify the best-qualified candidates.
• Extensive network: We cultivate long-lasting relationships with top treasury professionals, granting us access to a pool of talent not readily available through traditional methods who pick up the phone when we call.
• Customized approach: We take the time to understand your specific needs and company culture, ensuring a perfect match between candidate and employer.
• Confidentiality and discretion: We handle all searches with the utmost confidentiality and respect, protecting the reputations of both companies and candidates.

Partnering for Success

At Treasurer Search, we believe in fostering long-term partnerships. We don’t just fill vacancies; we build successful teams. By leveraging our specialized expertise and targeted approach, we connect you with the ideal Group Treasurer who can elevate your organization’s financial performance and contribute to its long-term success.

Ready to find your next Group Treasurer? Contact us today and let’s discuss your specific needs.

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.

As treasury recruiters, we are hired to find candidates with very job-specific knowledge. Although treasury knowledge and experience are important when looking for your dream candidate, looking at personality is in our eyes equally important for a successful long-term match. That’s why we don’t only assess if a candidate has the right treasury skills for the job but also if their personality is a good match for the job, the team and the company as a whole. We hear from our clients (and candidates), that this is highly valued. With this article, we want to give you more insight into how we do this.

So, how do we assess personality?

Firstly, we already do this during our intakes (with clients) and our interviews (with candidates), by asking the right questions and by structurally reporting on our findings. To do this, we keep the same personality traits in mind that we report on in the Treasurer Test. Secondly, we also offer our clients to use the Treasurer Test in the recruitment process (an assessment tool we helped develop, measuring personality and treasury skills) to verify our findings objectively.

Underlying personality construct used in the Treasurer Test

The personality assessment used in the Treasurer Test is based on The Five-Factor Model (i.e. the Big Five), which is widely considered the most scientifically validated. To make this construct more tangible for work-related use, 28 derived sub-traits are measured in the Treasurer Test, of which we chose 16 to report. We specifically chose these 16 personality traits, because we believe these to give the most valuable insights when hiring a treasurer.  Below this article, you find an oversight of the 16 personality traits we report on in the Treasurer Test.

How can a personality assessment help you in your recruitment process?

As mentioned in my introduction, recruitment is more than just looking for the candidate with the best CV. You want to hire someone who is likely going to stick around long-term. This is mostly determined by one simple factor: how much people enjoy their job. Personality plays a huge role in your preferences and behaviour, which determines someone’s natural affinity for specific job tasks and as a result influences your job performance and satisfaction. There is a reason people choose a treasury career over sales, as these jobs ask for different competencies and therefore different personality traits.

By combining different sources of information (interviews and an assessment tool), you create a more complete picture of someone’s personality, which will help you identify if someone is a good match for the job. And you will be able to successfully hire a new treasury colleague, that will be able to thrive in the job and work environment you have in place.

If you want to know more about the Treasurer Test and its use in the recruitment process, don’t hesitate to contact us for further information! We will be happy to advise you in your treasury recruitment endeavors.

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?

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.