I’m only a few months into my role, so I’m having to learn three of everything, one for each council [Westminster, Kensington & Chelsea, and Hammersmith & Fulham]. My days are spent monitoring markets, overseeing three treasury strategies and watching developments in the Local Government Pension Scheme (LGPS). There are daily and weekly tasks for treasury; pension fund duties tend to run in quarterly cycles and we report annually. I’m primarily responsible for treasury – cashflow, investment and borrowing. I’ve also got a governance and scrutiny role for the pension funds.
I have a fantastic network of finance professionals, consultants, fund managers, brokers, banks and government departments. Our area of the business is so fundamentally different from the main council functions that an external community network is essential in being able to understand, interpret and deliver what is asked of you.
Don’t think you have to be good at, or enjoy, everything because it’s almost certain that you won’t
My current challenges include the interest rate environment. Historical low rates have resulted in a totally different attitude to borrowing – having to balance attractive long-term pricing against the cost of carry is the new normal.
I wouldn’t change a thing about the environment at Westminster; it’s the most vibrant I’ve experienced. If I was granted one wish it would be for a simpler LGPS that employee members could easily understand.
My advice to others is don’t think you have to be good at, or enjoy, everything because it’s almost certain you won’t. Public speaking doesn’t phase me, but the prospect of having to uncover and correct a system glitch fills me with unparalleled terror. Many accountants are the exact opposite. You do need the broad exposure early on in your career to figure this stuff out.
The culture of public service is one of sharing. Our reporting is publicly available but much more than that, virtually without exception, we make sure that we take time out to help each other along the way.
Studying for my ACCA exams was the first time I felt true pressure. I learned a lot about myself and to build productive work skills. The recognition I receive from colleagues in other industries shows the respect employers hold for ACCA members.