Building Treasury Titans - Alignment

Putting the Right People in the Right Seats: In Treasury Management, success hinges on more than just hiring talented individuals. This is the third blog in our series, and we are focusing on Building Treasury Titans – Alignment. To build a high-performance team, each person must be positioned in a role that allows them to leverage their strengths, deliver on their potential, and contribute to the overall goals of the bank. This concept, famously illustrated by Jim Collins in his book Good to Great, is about first getting “the right people on the bus and the right people in the right seats” to propel an organization forward.

In Treasury Management (TM), where technical expertise, customer relations, and “net new” sales are paramount, ensuring that everyone is in the right seat can mean the difference between good and exceptional performance. Here’s how to apply Collins’ concept to transform your bank’s TM team.

Understanding “The Right Seats” in Treasury Management

“The right seat” is where each team member’s unique strengths and skills align with the demands of the role. In Treasury Management, this may mean having the right mix of sales experts, technical specialists, relationship builders, and leaders who can make strategic decisions. Placing individuals in roles that match their strengths ensures they perform effectively, feel fulfilled, and contribute positively to the team.

Consider these steps for finding the right seat for each of your team members:

1. Define Roles with Clarity
   Start by clearly defining each role within your TM team. Treasury Management roles often vary, from Treasury Management Officers (TMO) and Treasury Management Specialists to Treasury Analysts and Operations Managers. Outline the specific skills, knowledge, and experience required for each role. This clarity ensures that your hiring process is strategic and helps identify when someone may be in the wrong seat.
2. Identify Core Competencies and Strengths
   Jim Collins emphasizes focusing on people’s strengths rather than trying to fit them into roles they may not be suited for. Evaluate your team members’ skills and experiences to ensure they’re being leveraged in the right way. For instance, a TMO should excel in relationship-building and communication, while a Treasury Management Analyst may thrive on detailed analysis and process optimization. Assign roles based on these competencies to make the most of each person’s abilities.
3. Encourage Open Dialogue About Aspirations
   Understanding a person’s career goals and interests can help you place them in a role where they’ll be both motivated and productive. Regular check-ins and career development discussions help uncover these aspirations. For example, a team member in an operational role may express interest in a sales position. By exploring this interest, you may find an ideal candidate for future sales roles who already understands your bank and customers.

Assessing and Adjusting Roles Over Time

Even with a solid initial placement, team dynamics and individual strengths evolve. Here’s how to ensure people stay in the right seats as the TM team grows and changes:

1. Continuous Performance Evaluation
   Treasury Management is a dynamic field, and periodic reviews ensure that individuals continue to align with their roles. Use performance evaluations to assess whether team members are meeting their objectives and are still a good fit for their current roles. Regular feedback sessions also provide insights into where adjustments may be needed.
2. Rotate Roles to Expand Skills
   In some cases, rotating team members through different roles can broaden their skills and increase team flexibility. Role rotations allow individuals to gain experience in various facets of Treasury Management, from operations to sales. This approach can reveal hidden strengths and interests while fostering a culture of continuous learning and adaptability.
3. Build a Culture of Accountability and Empowerment
   Empowering team members to take ownership of their roles can reveal whether they’re in the right seat. Jim Collins argues that highly successful companies are built on a foundation of disciplined people. In TM, a culture of accountability means team members take responsibility for their roles and strive to exceed expectations. If a person consistently underperforms or shows reluctance to take ownership, it may be a sign they’re not in the right seat.

The goal of aligning each person with the right seat is to create a cohesive and effective team capable of delivering excellent service. In Treasury Management, this translates to a team that not only manages day-to-day functions smoothly but also adds value by building customer relationships, ensuring safety and soundness, and adapting to market demands.

Collins’ concept of “getting the right people in the right seats” is about optimizing team structure to make the most of each member’s strengths. It’s about creating a team that’s resilient, adaptable, and committed to success. By taking a strategic approach to team placement, you’ll be well on your way to building a team of Treasury Titans—individuals who don’t just fill roles but drive your bank forward.