In the past month alone, I’ve had over 20 conversations with contacts that are looking for their next job in treasury – either out of a need to advance or because they were a casualty of corporate re-organization. Although the trend has increased recently, as I considered similar conversations over the past several years, I realized there is one characteristic that separates individuals in search of their next treasury role:
Based on an informal search through LinkedIn, I realized that those that had treasury system experience weren’t looking for work long – on average about two months. Those that did not have this single bullet point on their resume relating to experience were closer to five months and, ironically, many had reached out to ask about treasury systems during their job search as this was a topic during their interview processes. Treasury system experience is becoming as popular as the CTP designation. If you don’t have it, employers are going to look at the next candidate.
For those organizations that already have treasury technology solutions, they want a candidate that can contribute immediately rather than someone who is used to working in spreadsheets and needs retraining. A recent Kyriba survey showed that 55% of all companies, regardless of size, currently use a treasury management system. FilFor companies with than $750m annual revenues, that number climbs to 78%. Most companies have a system and need you to know how to use it on day one.
Treasury teams that have yet to implement treasury technology also prioritize individuals that have treasury system experience. They want someone that has done it before and can lead the selection and implementation of technology solutions. If you aren’t bringing that level of experience to the table, you are clearly in the minority – and are competing against candidates that have implemented a variety of treasury technology solutions, in many cases, multiple times.
Given that recruiters typically spend just a few seconds on your resume or LinkedIn profile before deciding if you make the initial cut, you need to ensure that each item really sticks out. Unfortunately, these days, it could be the absence of treasury system experience that is the part that stands out.
Tips on how to get a new job in treasury can be found on a recent post by Tom Kellum on the AFP blog.