This is a YouTube video titled "The Benefits of Working in a Variety of Sectors Throughout Your Treasury Career with Stephen Darnley" containing a multi-speaker interview or discussion from November 2019. The conversation features Stephen Darnley and other speakers, including Mike Richards, discussing treasury career experiences, the transferability of treasury skills across industries, and the strategic value of treasury roles in different companies.
I had five years at First Choice. I was thoroughly enjoying.
It's a very, very intensely competitive marketplace, had the benefit of some very good.
Management under Peter Long. It was very educational, very broad spectrum role. I loved it.
We had changes of banks, we implemented.
A Treasury management system.
We did all of the things that you'd have on your tick list you'd.
Like to do and then after five years you went elsewhere or, you know, how come if you're in such an amazing place, why move?
Because I'd been an assistant treasurer by that stage for a couple of years. I had ambition, as everybody should, and I wanted to get broader experience to.
Prepare me for a group treasurer's role somewhere.
I knew that if I stayed at First Choice we had a group treasurer in place who had only been there for a couple of years and I didn't expect that person to move anytime soon. And I felt like I was kind of marking time. Having been an assistant treasurer for a couple of years, I felt that I needed to move in order to a get broader experience because I'd own my, my corporate experience was effectively only First Choice and I wanted to experience different companies and different industries. I didn't want to be sitting there waiting for dead men's shoes for the group treasurer's role, you know, I wanted to go and find and prepare myself for another role somewhere else. Picking up your point about the fact that treasury is transportable, I totally, totally agree with this. I look at it a bit like this is probably going right back to my roots as a mechanic.
Treasury is a toolkit in my head. You learn different tools to do different jobs.
You understand, you learn about how to manage a foreign exchange exposure, you learn to manage cash flows, you learn to manage interest rate exposures, you learn to understand companies long term financing requirements and the importance of liquidity. You learn all of these different things and to me these are your different skills. And wherever you go you use the.
Different tools that the job requires.
So in First Choice, to take an.
Example, I needed to understand interest rate.
Exposure management for the aircraft fleet. So I was able to do that when I went to Bell Micro for example, interest rate exposure management on air frames or jet fuel hedging were of no relevance to me whatsoever. But cash flow management was critical and understanding and managing an asset backed securitization program was a critical element of that. So you put all of your cash management and cash flow forecasting tools to.
Work in that environment and you do.
The job that the company needs there.
When I went to Burberry There was a.
You do all the usual things. I mean, cash flow management, FX management, all those things. They're all going on in the background. Yes, but you use different tools to.
Solve a specific problem that's relevant to that business, namely the supplier continuity of supply issue and how to support your suppliers to the benefit of your company. So you apply different tools to that.
Particular problem, but they're all within your.
Toolkit that you carry around with you from role to role.
And this is how I see it, a recurrent theme in everywhere I've been. You know, treasury is an essential part of the organization in terms of its ability to advise, support and really add value to different parts of the business.
