Treasury Recruitment: What HR should know

Treasurers hold essential, often strategic, positions in large organizations. They work in small teams, consequently HR managers or internal recruiters hardly ever have to search for one. The treasury terminology and unique characteristics of the niche labor market often result in tough recruitment processes where the standard way of working does not bring results. This led us to summarize some of our observations that we believe will help HR managers in recruiting a Treasurer.

So, what does the Treasurer do exactly?

Successful corporate treasurers ensure that their company can pay the bills. Not only this month but also in the future. They have specific skills in corporate finance, risk management, and cash management. Employees in these roles often cover one or more of these areas using a variety of wording. What complicates matters is that job titles sometimes carry different meanings in different regions. An assistant treasurer in Europe often is a junior, in the US second in rank.

A more thorough description of tasks can be read on treasuryXL here.

Required Skills and Qualities of a Treasurer

When recruiting for treasury positions, HR should look for candidates with:

• Strong quantitative and analytical skills
• Detail-oriented mindset
• Excellent communication abilities
• Conservative risk attitude and high ethical standards
• Adaptability to industry-specific conditions

While treasury skills can be applied across various industries, understanding sector-specific dynamics is crucial. For example, asset-heavy companies or those with international operations require different treasury approaches compared to domestic retailers.

Navigating Regulatory Requirements

Regulatory compliance is essential for Treasurers, especially in their dealings with banks and financial reporting. However, it’s only part of their broader responsibility in managing risks. They also handle market risks (like interest rates, foreign exchange, and commodities), operational risks (such as controlling access to bank accounts), and sometimes insurance matters.

HR can assess candidates by looking at their experience in regulatory compliance and risk management but should also consider ownership and risk behavior as crucial factors.

Strategic Contribution to Financial Goals

Treasury plays a strategic role in aligning with an organization’s financial goals. In funding, Treasury is crucial for securing finances for new initiatives. In managing foreign exchange (FX) and interest rate risks, Treasury can prevent potentially existence-threatening problems. In cash management, Treasury ensures business continuity by making sure salaries and other obligations are met.

HR should look for candidates who not only possess technical skills but also understand how to align their work with the broader corporate strategy. 

They should go out and do not expect that business leaders or peers in finance, sales, and other functions will inform them automatically. Here we often see modern treasurers doing better than the “old-school ones”.

How Treasurer Search can help

As a specialized recruitment agency, we have the advantage of pre-established relationships with potential candidates, allowing us to present a broader and more diverse candidate pool quickly. We ensure a better screening process by conducting thorough intakes with HR and hiring managers. In the current tight labor market, traditional advertising methods are often insufficient. Direct search and targeted messaging are essential.

Our experience in understanding the specific channels, types of messages, and the language that resonates with Treasury professionals allows us to bring the right candidate to the hiring manager, saving HR a significant amount of time. When considering all aspects, using a specialized recruiter often provides the best value for money. Luckily it is not only us having this opinion. Since 2009 hundreds of treasurers found a new role through our services making our clients very happy and successful.

If you want to pick our brains, do not hesitate and let us know! We are happy to help.