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Moving into a career in treasury from accounting

If you work in accountancy and you’re considering moving into treasury, you’re in luck! The skills you’ll have honed in accountancy can be incredibly valuable in a treasury role, and the transition is definitely achievable.

Skills such as financial analysis, attention to detail, and the ability to work with complex financial data are all transferable when it comes to treasury jobs. Additionally, people from accountancy backgrounds often have experience managing financial risk, which is a key aspect of treasury.

Moving into a treasury role can also provide accountancy professionals with the opportunity to broaden their skillset and gain exposure to new areas of finance. For example, a treasury role may involve managing cash and investments, managing debt and credit facilities, and developing and implementing risk management strategies.

However, it’s important to note that there may be some additional knowledge and skills required to be successful in a treasury role. For example, a strong understanding of financial markets and economic conditions is essential in treasury. Knowledge of financial instruments, such as derivatives and hedging strategies, may also be required in certain treasury roles.

A career transition from accountancy to treasury can offer natural progression and can provide a rewarding and challenging career path for those with the necessary skills and interest in finance. It’s important to do your research, gain relevant experience, and seek out additional training or education to ensure a successful transition.

Below are some key steps you can take to make the move from accountancy into treasury.

Identify the similarities and differences between treasury and accountancy

The first step in moving from accountancy to treasury is to understand the similarities and differences between the two roles. Both require a strong attention to detail, financial acumen, and the ability to work with numbers. However, while accountancy is focused on maintaining and analysing financial records, treasury is more forward-thinking, with a focus on managing cash and financial risk.

Build your treasury knowledge

To make the move into treasury, it’s important to build your knowledge of the discipline. There are many resources available to help you do this, including courses, certifications, and professional organizations. Consider enrolling in a Certified treasury Professional (CTP) program, which is designed to equip you with the knowledge and skills necessary to succeed in a treasury role.

Network with treasury professionals

Networking is essential when making any career transition, and moving into treasury is no exception. Reach out to treasury professionals in your network and ask for their advice on how to make the transition. Attend treasury conferences and events, and connect with other attendees to learn about their experiences and insights.

Our Founder & CEO, Mike Richards hosts a weekly treasury podcast, The treasury Career Corner where he interviews treasury professionals. This is a great place to learn about the industry as the interviewees share their insights into their careers and the world of treasury.

Highlight skills that are transferable within treasury

When applying for treasury roles, it’s vitally important to ensure you create a great CV / resume that highlights your transferable skills from your accountancy experience. Emphasise your financial analysis skills, attention to detail, and ability to work with complex financial data. Also, demonstrate how you have successfully managed financial risks in previous roles.

Gain practical experience in treasury

To gain practical experience in treasury, look for opportunities to take on treasury-related projects in your current role. For example, you could work on cash flow forecasting, foreign exchange risk management, or debt management. This will not only help you develop your skills in the area but will also demonstrate your interest and commitment to treasury.

Consider an additional “stepping stone” into treasury

If you’re struggling to make the move directly into a treasury role, consider taking an intermediate step that will help you gain relevant experience. For example, you could look for a role in financial planning and analysis or corporate finance, which will provide you with exposure to treasury-related activities.

Moving from accountancy to treasury is a feasible transition, and there are many steps you can take to make it happen and have a successful career within treasury.

If you are looking to make the transition into treasury, or your business is hiring for treasury professionals and are considering those from accountancy backgrounds, get in touch today for a no obligation chat on how we can support you.