Treasury Recruitment: Q3 2021 Market Report

How active is the treasury jobs market now we have passed the mid point of 2021?

Associate Director, Guy Middleton presents his latest market report…

Continuing confidence in relation to the COVID pandemic, the removal of most restrictions, and a partial return to the office has resulted in a significant increase in levels of treasury recruitment during the past quarter. Many of these jobs have been at Analyst and Manager level, but pleasingly, there has also been some activity at more senior levels, with a number of Senior Manager and Deputy Treasurer roles coming to the market, as well as some Group Treasurer opportunities.

There has been a gradual increase in the number of treasury jobs being recruited since Easter, although most companies remained cautious about recruiting whilst still working remotely. The removal of restrictions from 19^th July resulted in many companies adopting some kind of return to the office from the start of August, with others following from the start of September. Some companies are still working fully remotely, but the vast majority are now expecting their employees to spend some time in the office each week. For most this is just one or two days at present, but it is likely that this will increase to between two and four days in the office by the beginning of 2022.

Where are the jobs?

We are still seeing a number of smaller, growing companies investing in specialist treasury expertise for the first time, typically at treasury manager level; although it is the larger companies and banks that have started recruiting again who are driving this increase in recruitment activity, with opportunities materialising at all levels.

Demand for Specialist Treasury Expertise

Caution and cost cutting during the past 18 months resulted in many companies choosing to utilise non-specialist resource from other areas of their finance teams at all levels, rather than recruiting specialist treasury expertise. This was always likely to be a short term option, and as companies start to look at their longer term staffing requirements, demand for dedicated treasury professionals is again on the rise. This has resulted in particular demand for cash management and banking experience, along with strong cash flow forecasting skills at both junior and mid levels.

Environment, Social and Governance (ESG)

Environment, social and governance matters are affecting borrowing, investments, supply chain finance programmes and other areas for the treasurer; and experience in these matters is becoming a key consideration for many companies when recruiting at more senior levels.

Increased Treasury Automation

Whether fuelled by the need for actionable data, the mandate to leverage a lean workforce, or the realities of a continued work-from-home environment, increased treasury automation continues to be a focus for many treasury departments; and as the ability to recruit returns, many hiring managers have been keen to secure individuals with expertise in this area. Historically, this has led to opportunities for treasury systems specialists operating in the interim market, but much of this recent recruitment has focused on ensuring that treasury departments possess this expertise on a permanent basis.

The vast majority of treasury recruitment that has taken place has been on a permanent basis, with the interim treasury market remaining relatively quiet; although as the treasury recruitment market opens up further, we will almost certainly see an increase in the number of interim opportunities coming to the market.

Guy Middleton is a Treasury Associate Director at Harvey John.

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