This is a YouTube video titled "Leading a global treasury team with Fred Schacknies" containing a monologue or talk by Fred Schacknies recorded in February 2019. The content focuses on career advice in treasury roles, emphasizing communication, leadership, adaptability to automation, and gaining broad experience across functions. There is no indication of multiple speakers or a conversation involving Mike Richards.
But the special ingredient, the one that makes a perfect candidate, I think, is the ability to communicate and to interact and to manage people, you know, whether it's up, down, or sideways, and, you know, to demonstrate leadership potential. Put that in the context of, I think, where treasury is coming from and going to. In the end, all we're doing is not even managing money. We're managing information for the most part. You know, we have to appreciate the fact that the role of capital and technology relative to the role of labor will continue to shift in our industry just like every other. Some of the advice that I've given to folks is say, assume that at some point during your career you will be partially, if not fully automated out of a job. That may or may not happen, but I think it's a good assumption to make because all of us, whether it's in treasury, whether we're managing cash or risk or we're at the treasury level or anything else, I mean, we're all just basically human algorithms, some of us a little fuzzier than others. But when you think about, in terms of. Think about your job, as you would describe it to a software engine, hopefully you'll be in a better position down the road to continue to be one of those folks that's kind of solving problems at one level. It comes down to finding the problems that need solving. Having worked in four different companies and four different industries, on the one hand, kind of every company feels that they're unique, and each one of them is unique in their own mind. I'm sure in the end, you know, the treasury issues that span across them are more similar than they are dissimilar, but the context different for each company. The prioritizations are different for each company. So, you know, I would say as a matter of career success, you know, make sure you're. You're bringing the right tool to the right job. Terms of figuring out what problems are most prioritized for the company that you're part of. Beyond that, other bits of career advice I would pass on and is to try to get the broadest career path you can. I myself, for one reason or another, have been fairly specialized in what I've done. You know, I think, frankly, if I could go back, I'd like to have experienced a broader selection of different functions on my way up that ladder. You know, and so I would. That's something I would encourage others to do too. Experience different ways of thinking, you know, different types of problems, and experience working with different types of people too. Tying all those things together, though. The ability to manage people up, down and sideways and the ability to communicate is absolutely fundamental, I think, to anyone's success.
