Interview | 5 questions for Patrícia Baptista Nabiço, Seasoned Treasury Professional

INTERVIEW

1. What initially drew you to a career in treasury, and how has your passion for the field evolved over the years?

I became deeply involved in an M&A transaction for a customer while working in Financial Markets. Later, that same customer offered me a position to join them and establish the Treasury function for Angola & Mozambique, covering all their businesses. I saw it as an excellent opportunity to apply the knowledge I had acquired over the years as a provider of Treasury solutions, marking the inception of my career in Corporate Treasury. I continued to build on my expertise in highly regulated markets and engaged with multiple internal parties to understand matters beyond Treasury, such as Tax and Legal, to better support the business and operations while ensuring Treasury risks like FX exposure or Liquidity traps were eliminated or mitigated.

2. In your opinion, what are the most critical skills and qualities that a successful treasurer should possess?

• Ability to adapt to changes, especially regulatory ones
• Ability to liaise with finance and operations areas in an engaging manner
• Strong network internally and externally with banks, regulators, auditors, and legal counsels
• Understanding of the business and commercial models

3. Can you share a memorable success story or achievement in your career that you are particularly proud of?

One memorable achievement in my career was the repatriation of over $1.5 billion from Angola, involving the conversion of 70% of that from local currency to hard currency. It began with an M&A deal that paved the way for the repatriation. I led a complex project with experts from various areas, engaging with external parties, notably banks and regulators, to ensure all documentation was in place, disclosures were made, taxes settled, and cross-border transactions were compliant with Foreign Exchange regulations.

4. Could you describe any ethical or compliance challenges you’ve encountered in your career, and how did you address them?

Over the years, I have encountered several ethical and compliance challenges. The approach to addressing them should always involve maintaining a low profile, staying calm, and remaining compliant. I have consistently addressed these challenges internally with relevant bodies and, if necessary, externally.

5. Treasury professionals often work with banks and financial institutions. Can you share some insights into building and maintaining strong banking relationships?

Having a banking background has been advantageous in maintaining strong banking relationships. I believe in viewing banks as partners rather than service providers, ensuring that the relationship is mutually beneficial. Transparency, honesty, and providing feedback, whether positive or negative, are crucial in building and maintaining strong banking relationships.