Treasury professionals must possess a diverse set of competencies. Treasury Masterminds recently conducted a poll among nearly 100 treasury professionals, exploring the question: “What do you think is the most important skill for a treasurer to have?” The findings offer valuable insights into the treasury function’s evolving demands and highlight the multifaceted nature of the treasurer’s role.
A Strategic Shift
The most prominent skill identified was Financial Strategy & Forecasting (30%). This underscores a significant shift towards strategic involvement within treasury. Treasurers are no longer confined to transaction-oriented tasks; instead, they’re increasingly expected to contribute strategically, advising the business on growth opportunities, financial health, and sustainable success.
Core Foundations Remain Essential
Close behind, Cash Management Expertise (27%) was rated highly. Despite the strategic evolution, efficient liquidity management remains fundamental. Without robust cash management skills, strategic initiatives may falter due to financial instability. Treasurers continue to play an essential role in securing operational liquidity, which remains a crucial pillar for business continuity and success.
Navigating Uncertainty through Risk Management
With Risk Management Proficiency (20%) closely following, the poll results indicate the importance of proactively identifying, assessing, and mitigating risks. Today’s treasurers must handle financial market volatility, operational risks, and unforeseen economic challenges. Effective risk management has become indispensable in securing the company’s financial health and strategic goals.
Leadership and Communication: A Critical Soft Skill
The importance of Leadership & Communication (18%) emphasizes that technical treasury skills alone are insufficient. Effective treasurers are increasingly called upon to lead teams, communicate complex financial insights to various stakeholders, and influence strategic decisions across the organization. Strong leadership and communication skills enhance a treasurer’s ability to ensure alignment across departments and effectively execute strategic plans.
Technology: Essential Enabler, Not Primary Skill
Interestingly, Technology Adeptness (5%) ranked lower in priority. This doesn’t minimize technology’s importance; rather, it positions technology as a crucial enabler rather than a standalone essential skill. Technological advancements allow treasurers to perform tasks more efficiently, enabling them to focus their expertise on strategic, cash management, and risk management activities.
Conclusion: A Multifaceted Approach for Success
The poll results reinforce that treasurers need a balanced skill set to thrive. While strategic insight increasingly defines the treasury role, mastery of cash and risk management remains vital, supported by robust leadership and communication abilities. Technology, while integral, serves primarily as an enabler, enhancing efficiency and allowing treasurers to amplify their strategic impact.
Today’s successful treasurers combine financial acumen with strategic foresight, robust risk management, clear communication, and technological literacy, positioning themselves as indispensable strategic partners within their organizations.
What do you think—does this match your experience? Share your insights in the comments below!
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