iStock / kyolshin BEST PRACTICE MOVING ON LEADERSHIP & CAREER A s you know, I will be moving on from the ACT in the next month or two, entering a new and exciting phase in my life. However, the parting will be bittersweet, as I have had such an amazing time as chief executive of this wonderful organisation, despite the many challenges we have faced. In December 2022, I wrote a blog reflecting on all the wonderful experiences and achievements I have made jointly with the team and members over the past six years, which you can find on treasurers.org (treasurers.org/cstockmann2023). So here Id like to reflect on my learnings from more than 2,000 days, 50,000 hours, four continents and 20 countries (quadruple that at least in virtual terms), and countless new friends and relationships. LEADERSHIP Leadership is not about being aggressive, challenging, knowing better than others, keeping cards close to the chest, being defensive, or any of those somewhat outdated ideas that still raise their ugly heads in business. Its about having empathy, but not being afraid of explaining your decision-making process; about giving people as much certainty as you can in times of crisis; about caring for and respecting the individual while putting your all into the success of the overall organisation; and its about acknowledging your mistakes and failings. Its about showing vulnerability as well as strength, taking responsibility for team members mistakes. And its about exercising integrity and rigour in all you do. Leadership is not about being aggressive... Its about having empathy... BEING STRATEGIC Being strategic is about looking forwards into the future, and considering what you want to achieve, and then working back to today. We overestimate what we can achieve in a day, but underestimate what we can achieve in a year. Google the video golf balls in a jar. Sort the priorities out first, and all the small stuff will follow. and bosses is important and needs a regular rhythm. If there are disruptions and gaps, then small wedges of distrust creep in, and over time they can cause problems. In general, we trust someone we see regularly, where the relationship is being maintained and grown. WIDER COMMUNICATION For two years, because of COVID-19, the whole ACT team met virtually twice a week for 15 to 30 minutes. Sessions varied from organisational information sharing to sharing of personal anecdotes, and everything in between. For an organisation of our size, this worked very well, allowing us to retain our unique culture. Updates on our finances were shared, as were any difficult decisions we were having to make, and I was open about my thought processes so everyone knew they were not being kept in the dark but were included and allowed to follow any decision-making. This really reduces stress in the individual, even if they dont like the final outcomes. We also talked a lot about other ideas to help our personal wellbeing, and some of us trained as mental health first aiders. AND FINALLY As our Business of Treasury research has shown and as I believe wholeheartedly from my own experience as a senior finance professional for many years getting the basics right (in my case technical competence in finance) has to be a given. I would not have progressed through my career so quickly without it. But its the other stuff that makes the real difference. I would like to thank everyone at the ACT, our amazing members and the wider treasury community for your support during my time as chief executive. I couldnt have done it without you! ONE-TO-ONE COMMUNICATION Communicating one-to-one with team members Caroline Stockmann is chief executive of the ACT 50 ISSUE 1 2023 treasurers.org/thetreasurer TT ISSUE 1 23 pp50 End notes.indd 50 23/02/2023 09:33