Roughly 60% or more of the hiring managers we work with does not have experience in corporate treasury. Less than 20% of people working in corporate treasury received extensive professional treasury education. The rest did not. How can we measure whether a candidate has the knowledge to be able to do the job? Currently this is done, also by us, by looking at their experience: screening CV’s, checking references, etcetera. I think there is room for more thorough measuring.
After talking with many experts the idea of the Treasurer Test arose. We created a group of enthusiasts and started building. The core of the group consists of:
- academic treasury experts of VU University (Vrije Universiteit) Amsterdam, responsible for the Register Treasurer Program, and The University of Applied Science (Hogeschool) Utrecht, organizer of the Minor Treasury Management;
- assessment psychologists with a degree in test development;
- IT experts using software and methodologies also used by dozens of international universities who can build an on-line assessment environment;
- treasuryXL, their and our network of corporate treasurers as well as professional bodies.
Within a month we will start with the first test of a new and I think exciting measurement tool. It combines measurement of treasury knowledge & skills with a Big 5 personality test. The results of the treasury part of the test are presented both with absolute scores, as well as with a peer group comparison. Peer groups are formed upon experience: up to two years, three to eight and over nine. The results of the personality test are compared with a general population as well as the treasury population who already did the test. This way we can make statements like “he didn’t answer a lot of questions correctly on the topic cash management but others with less than 2 years’ experience score even worse” or “she is an introvert in comparison to general population but in comparison to other treasurers she is quite extroverted”.
We are close to asking the first peer group to do the test and expect a larger scale introduction around October 2018. I am quite excited about this project and think it can all help us in making career / recruitment decisions, choose proper education and shape treasury teams. There is a lot more to tell about the project, I will keep you updated and am available for questions or input.
On behalf of Team Treasurer Test,
Pieter de Kiewit
Owner of Treasurer Search