Tag Archive for: career

8 Career Hurdles in a Transfer from Banking to Corporate Treasury

| 07-07-2016 | Pieter de Kiewit |

careerAn increasing number of bankers come to my recruitment desk wanting to make a transfer to corporate treasury. This transfer can be made successfully but there are a number of things to take into account. Below the 8 career hurdles, I hear most about, in a transfer from banking to corporate treasury. 

 

8 Career Hurdles in a Transfer from Banking to Corporate Treasury:

  1. Understand the essential difference – Corporate treasury is about supporting the core business, banking is the core business;
  2. Translate the lingo I – Banks use different words; they talk about “transaction services” for the payment infrastructure. Within a corporate this term is often used the way auditors do for due diligence processes in M&A;
  3. Translate the lingo II – Banks give different meaning to the same words. An easy example is “treasury”. This is only financial markets related within a bank and a description of the whole department within a corporate environment;
  4. Bankers do not leave their vertical – Due to the size of banks, bankers can be specialized in one area and often do not leave their field. Corporate treasuries are often small and need generalists;
  5. Bankers are paid better – It is what it is.
  6. Corporate treasurers are not in the center of attention – Being in a supportive role, they often do not get the same respect bankers get;
  7. Banks provide a more extensive support infrastructure – The level of support in HR, legal, IT and other aspects banks can provide, is often not available for corporate treasurers;
  8. Bankers have to deal with the stigma – That they are overpaid, vain, lazy, inflexible, not hands-on and one cannot trust them.

Non of these hurdles are, in my perception, deal breakers. Bankers are often well-educated, hard-working, smart and business savvy potential colleagues that can really contribute. First, they have to deal with the above by themselves. They have to be convinced they want make the transfer for the right reasons. Then they can translate this in a proper labour market communication strategy and find the corporates that have dealt with the above.

It can be done, I am available for support. What do you think?

Pieter de Kiewit

 

 

Pieter de Kiewit
Owner Treasurer Search

 

If you are not a Treasurer with the ambition of a Dentist

05-05-2016 | by Pieter de Kiewit |

Career pathIn a previous blog I wrote about a career in treasury possibly being a dead end street. My former boss Cees taught me about the concept of the ambition of a dentist: when you graduate in dentistry, you most likely will do the same at the start of your career as you will do at the end. There is nothing wrong with that, if that is what you want. I would like it when my banker and shoe repair man would have the same ambition.

I know treasurers with the career line of a dentist. I know treasurers who are trying to avoid or leave the dentistry line. Here are some alternative routes I have seen:

  • Make lateral moves to other jobs, but still in the CFO team: accounting, control, credit management, perhaps legal. This may be the path to become a CFO;
  • Start helping your business development colleagues with the financing part of business opportunities and gradually move in their role;
  • Switch sides of the table: become a banker, a consultant, an auditor, a treasury software specialist or a teacher;
  • If you are really fed up with being a treasurer and/or want to make a drastic move you should be prepared to invest: give up your monthly salary, seek further education and become yoga teacher, or something else. This can also be done gradually by combining jobs/education.

I think life is too short to be in a job you do not like. Luckily I have daily meetings with treasurers who are passionate about their job. The majority of the working (treasury) population did/does not make conscious career choices, a fact that always intrigued me. I meet people who live the ambitions of others (parents or spouses). If you want to give direction to your treasury career or discuss the dentist thing, give me a call. I am happy to brainstorm with you,

Pieter de Kiewit

 

 

Pieter de Kiewit
Owner Treasurer Search