Starting from Scratch: Real Chemistry’s Laura Loeffler on Building Strategy, Systems, and Confidence

Rida Khan
Welcome back to Treasury Trailblazers, a mini series on Trovata’s Fintech Corner, where we talk with the people who are changing the game in corporate treasury. I’m really excited today to be joined by Laura Loeffler, Treasury Manager at Real Chemistry. With over 25 years of experience, Laura’s journey covers everything from chance, determination, and bold career moves. She unexpectedly discovered banking at a college fair and is now running Treasury solo at a high growth company.

Laura’s seen it all. She’s got some great ones to share, including a major &A deal. And she’s been guided by some incredible mentors along the way who I’m sure will shout out in this episode. Laura, welcome. It’s so great to have you.

Laura Loeffler
Thank you for having me, Rida. I’m really thrilled and honored to be a part of the series. So I look forward to our conversation today.

Rida Khan
Yeah, we’re going to have a lot of fun. And for the audience, whether you’re early in your Treasury journey or navigating your next leadership opportunity, Laura’s got some great gems to share that you’re definitely going to want to hear. So let’s dive in. You mentioned in our recent conversation that you fell into Treasury by accident. So I think it’d be really fun to go into your origin story and just how you even got into this space.

Laura Loeffler
Sure, definitely. I feel like that’s maybe a recurring theme. think a lot of people you talk to who are in treasury, you may hear a similar story that you kind of fall into. It’s definitely not one of those areas of finance that you specifically learn in college or that there’s a college course on Treasury 101. It’s really more of a on the job training. So I started my career at college and I went to a college fair.

And that’s how I got into banking. started as a commercial loan officer at a local community bank. And while I was there, I obtained my MBA at night. And so after being in banking for about eight years, I wanted to transition to corporate treasury. So I took that leap at that point and I spent one year at, know, Booze and Company. And then I was presented with a opportunity to join Celgene on the treasury team. And I was very excited.

It’s a company I had followed. And I was so excited that I had this chance to get into the company on the treasury team. And the funny thing is I had submitted my resume and I think it was literally a day or two later. I just happened to be at a local treasury function, like a luncheon, where out of, you know, don’t know, a couple hundred people, maybe I sat down and I happened to be sitting right next to one of the treasury managers on the Celgene team.

So after talking to him, I had mentioned that I had just submitted my resume. And so he went back to the office and he told his manager, like, hey, just met this person. She actually just submitted her resume. And sure enough, they pulled it out of the pile. They called me in before the end of the week, interviewed me, and the next day I had an offer. So just kind of promoting, right? Networking is really key. It’s so important.

So I worked at Celgene for almost 10 years. And then we were acquired by Bristol Myers. And so I was part of that, you know, planning for the acquisition and I stayed through integration. And then after that, I moved on to real chemistry, which is my current role, leading treasury solo. And it was hired three years ago as the first dedicated treasury hire.

Rida Khan
I love that interview story. I think that every job applicant’s dream is to just be out and about and meet someone at the company and get that referral in. That’s what people mean. Yeah. It’s insane. It really comes down to whether you can be the most experienced person, but there’s always this element of chance and fate and who you meet.

Laura Loeffler
Yeah. Like, like this isn’t really happening. Yeah, it’s crazy.

Rida Khan
Chances on your side when you’re out there doing things in your profession, going to the event, networking with folks. So I just think that’s a great piece of advice to start off with is really, really don’t be afraid to go to those conferences and make conversation with folks you don’t know.

Laura Loeffler
Yeah, no. You don’t know where it ends up. What are the odds that I would, out of all those people, sit right down next to the person on the team and I had just put a resume in like two days before? I mean, the stars align. I’m like, this is meant to be.

Rida Khan
I love that. So you made it sound really easy when you just talked through the story, but I can imagine that making the leap into the corporate side, starting off with banking was probably not easy at all. What was that transition like? And were there any major lessons learned? How did that shape your journey?

Laura Loeffler
It definitely was not easy. I thought it would be easy jumping over. So I wanted out of banking and I wanted to get into corporate thinking like, you know, something on the finance side, FP &A maybe. I didn’t really know what, but I wanted to explore something different. But this was back in 2009. It was a very difficult job market. And even though I had like eight years of experience and an MBA, it took me almost half a year to find a job.

I found it heartbreaking to go into any of those other areas, even though I had experience in banking and finance. So for me, I learned that the next logical step was actually to foray into Treasury.

Since I had the banking background, it made me more marketable for that type of finance, corporate finance role. And originally, I thought it would be a temporary move really to just get my foot in the door, to eventually move somewhere else within corporate finance.

But I ended up staying in Treasury for 25 years. I really liked it and I did well in it.

Rida Khan
I love it. I think that’s also just a great lesson because the job market is not easy right now either. I feel like I’m hearing similar things. Like it’s taken half a year, a year for folks to find new jobs. And what your point is about transferable skills and not being afraid to try something new if you need to, I mean, it can really blossom into the perfect path as we see with your career. So I think that is very relevant for folks to hear right now that might be looking.

Laura Loeffler
Yes, very, yeah, definitely agree.

Rida Khan
That’s awesome. Well, I’m sure that, you know, doing all of this, we’ve talked a lot about just the power of having women around you that are great mentors. And with all these career changes, you know, as you know, I’ve seen in my own career, there’s always someone in your corner, someone you can talk to that does make a huge difference when you may be going through something you’ve never gone through before or a challenge and just need a sounding board. Do you have any?

Rida Khan
female mentors that you want to talk about on this episode and is there anything you’ve learned from them that still sticks with you today?

Laura Loeffler
Absolutely. So I’ve had a lot of strong female mentors and role models in my life, both personally and professionally. And they had similar mindsets. I’ll start with my mom. Shout out to my mom, single mom raising me. And she instilled in me, you don’t know unless you ask. What’s the worst can be said? No. But you don’t know unless you try. And then that same mindset.

was in the leadership at Celgene under Treasury. Shout outs here to Sandra Ramos-Alves, who now went on to be SVP and Treasurer of Bristol-Meyer Squibb after we were acquired. And even my direct manager, who also remained with Bristol-Meyers, is Sarah, Sarah Johanneson. They were huge advocates for me and my career, and I would not be where I am today without them. From day one, Sandra would always instill in us, be your own advocate.

Don’t be afraid to speak up for what you want. Take a seat at the table. And moreover, I learned to support each other and to lean in, lift other women up in the workplace instead of viewing them as competition or tearing them down. Nobody benefits from that.

But even that being said, I have to stress that I did also have some very strong male role models as well. Back in my banking days, you’re talking this is almost 25 years ago, it was a very male dominated industry back then. Still is to some degree today, but many more women than back then. And I remember back then sitting in the bank looking at a row of maybe 15 to 20 offices, three, maybe four were occupied by women.

So my mentorship actually started back then already. They took me under their wing. There was a stick together mentality. But important to note there as well that I had male mentors. I felt at the bank very supported by these male supervisors who genuinely wanted to see me succeed and guided me along the way as well. And I had high respect for these men and these individuals. coming out of college, this was like my first work experience. So I really feel like that

That set me up for success in whatever avenue I took in my path.

Rida Khan
Yeah, I think that that’s a great call out. It really it doesn’t matter the gender or who that person is. It’s just what matters is that they stick up for you. Right. So I think that’s really, really important. And maybe a follow up there. might be from both sides. Right. There might be a younger professional watching who is thinking themselves, “I haven’t found that yet. I haven’t found my mentor. haven’t found that person that’s in my corner.”

Do you have any advice for that person who really wants that relationship? And then also like you’ve, you’re a leader now. You made it now. Now for those that are a little bit more senior in their career, what are some examples of things that you can do to give back in that way?

Laura Loeffler
That’s really good question. I would definitely say for those who are just kind of coming into the market, it is hard. I’ll be honest. I feel like to your point, like you said in the beginning, the intro is those gems. I think finding those mentors and those leaders are a gem. They’re not everywhere. And I think it’s important to not only try to seek them out within your company, but you can also try to seek them out in networking, in organizations, at AFP, know, get your CTP.

And for those seasoned leaders, I would definitely say make an effort. I know we’re all busy, but make a concerted effort to reach out and mentor those up and coming individuals that are coming out of college, kind of show them the way. And it’s not just about the industry you’re in or treasury per se. It’s just more generalist, I would even say, just kind of taking them under your wing and kind of showing them a way, explaining even just how to navigate like cultural environments.

Like every company has a different culture to navigate and you know coming in with no experience that feels scary to someone young and starting out.

Rida Khan
Yeah, there’s a whole social science there that you learn throughout the course of your career that I think is, you know, almost a trial by fire for a lot of us and very intimidating for a newbie. So I think that’s a really important piece of advice that sometimes people forget when they’re early on is, yeah, you can do the job really well, but you got to do the social aspect too.

Laura Loeffler
Yeah, what it feels like. Yeah, don’t forget what it feels like starting out, like how that can feel scary, whereas someone more senior may have navigated a lot of those difficult interactions with another colleague or a difficult culture at a company, and you forget sometimes how scary that feels to someone new. So yeah, just don’t forget about the people coming in and to mentor them.

Rida Khan
Yeah, or even making a mistake for the first time. We all make mistakes, but it’s terrifying when you’re new.

Laura Loeffler
It happens. It is very terrifying. Yeah. I can think of some of my mistakes, you know, starting out and it’s a scary feeling. Like, let them know it’s okay to make mistakes. You know, I think there’s a lot of fear, like I have to be perfect. I can’t make a mistake. And that’s not true. That’s how you learn.

Rida Khan
Yeah. trial, absolutely. Trial by fire, right? Like trial by fire is such a big part of growing your career. And I think that’s honestly a great segue. You mentioned the Celgene BMS acquisition. One, I think, you know, some folks that might be listening might not realize how big of a deal that was. So it would be awesome if you could just give us some context on how huge this acquisition was. And then this is just one of those historic situations where I’m sure the audience is dying to hear.

Laura Loeffler
Yeah.

Rida Khan
What stands out from that experience in your memory? Any major kind of wins or challenges along the way and any lessons that you can share from being a huge part of that.

Laura Loeffler
Absolutely. It was exciting and an honor, honestly, to be part of something so historical. It was one of the largest pharma acquisitions in history, but it was also one of the hardest and most challenging accomplishments in my career. I’m very proud of it. Navigating the complexity and the planning that went into the deal structure itself, the planning

It took over the course of almost a year. It was very difficult. It spanned not only cross-functionally within our own company and worldwide in the company, but also across two separate companies and cultures, vastly different cultures coming together and doing that all while simultaneously not only doing your day job, but also then planning for post-acquisition integration.

Like this was all happening behind the scenes and seemed seamless, but it was a lot of teamwork. It was a lot of collaboration. I remember feeling like this was the longest year ever of my life and that we’re never gonna reach the finish line. But when closing day finally came, that feeling of relief and pride that, we did it. We actually did it. And it was a series of, you know, cash movements that had to be timed and planned out perfectly around the world. I remember being in the office just myself and my manager, we were the first two and the only two and I think it was like three o’clock in the morning or something because you had to move money from all over the world to centralize it and then get it over to the acquirer. And this all had to happen before 10 a.m. Eastern Standard Time.

Right? So like we were in that early because we had to get money from Europe and Asia and you had to wait till those, you know, banks and markets opened. I mean, it was crazy. And, you know, you had a lot of road bumps along the way. You got to remember being such a large historical acquisition, right? There was just a lot of red tape. There’s a lot of regulatory you have to go through, you know, certain approvals that you have to get along the way from the SEC, you know, everything. So.

And if you had a setback here or there, then you kind of had to switch it and pivot a little bit in your planning. We have to maybe reorganize the timeline or this planning stage has to get pushed back. So many facets, but I have to say it’s one of the proudest experiences I’ve been through in my career. certainly to be part of that, I really felt like I was a valued part of the team for my contributions.

Rida Khan
At about three in the morning and a year, a year of preparation for anyone. Cause I know a lot of treasurers, they’ll join companies leading up to a big acquisition or right after, just any sort of like big IPO moment, anything that’s like very, very shaping for the company and just like a dramatic change. Any advice that you would give to professionals that, I mean, you can imagine like your mind state in that year, like you mentioned like, this is the longest year of my life. Like any advice you can give on. Like there is another side you’re gonna get through this?

Laura Loeffler
Honestly, I’ve been on both sides. I’ve been the acquirer and the acquiry. So I think this is where emotional intelligence comes in, not only for your own team and making sure that they’re supported, not only professionally and with the resources they need to accomplish such a feat, I would say even more importantly from an emotional aspect and a mental aspect, right?

You got to remember, depending on what side of the fence you’re on, right? You’re either acquiring someone. People could be nervous about maybe losing their jobs as you merge together or even on your own side. Well, what if I get put out because there’s someone else more knowledgeable and more experienced on the team coming in? And again, the cultures, right?

Like if you do keep people on from both sides, you’re now merging these cultures, these different know, corporate cultures, these different backgrounds, these different processes, know, agreeing on which way is the right way to do it. Well, we did it this way. Well, we did it this way. It was different. Which way do you choose? So I would say be very mindful, be thoughtful in your process and also be very mindful of the human aspect.

Don’t forget about that human aspect, that mental state and that emotional state that comes along with an acquisition, whether you’re on the acquiring side or the other side. That was, I think, my big takeaway. And I was blessed with leadership that was very adept at doing that.

Rida Khan
Yeah, I think that’s great advice. We got to take care of each other during challenging moments like that and think about what others might be feeling. that is a great reminder, especially when folks are lost in what feels like an endless amount of work to just check in on those around you and make sure that they’re doing well too. So great leadership at

Laura Loeffler
Because it’s a stressful time to be sure. It’s a stressful time for leaders to just not forget that about those on the ground, you know, running.

Rida Khan
Yeah, yeah, no, absolutely. It’s not just, you know, these leaders that are sitting in the back rooms making these deals or making these big decisions. Now someone has to go execute, right? So I think that that’s a really important reality check for a lot of folks that are listening.

So after this really successful acquisition, you mentioned you had awesome leadership mentors there. You made a really big change. You joined Real Chemistry to lead this new treasury function as a team of one. So big jump there. How did that feel at the time?

Laura Loeffler
So making a big change and joining the real chemistry team as a team of one, it was exciting and scary. It’s like being the captain of your own ship.

It was exciting to take the knowledge that I had accumulated over the course of my career and create a structure pretty much from scratch and set up the way I would like to see it set up. Feeling valued as a subject matter expert, because I was the sole treasury person that was hired at that point in time. But also scary because I’m it, I’m responsible, I’m accountable for the decisions that I’m making for treasury. So it was kind of like taking off the training wheels. It was a lot of education.

It was an educational process along the way. had to really educate and justify my strategies and structures that I wanted to put into place to get the support and buy-in from upper management.

Because you got to remember, I being the first treasury person, there were a lot of concepts I was bringing that were very treasury specific that maybe people hadn’t heard before. They didn’t understand, well, why are we doing it this way that you really have to explain. But by doing so, I realized I actually know more than I give myself credit for.

So that started to build up my confidence and that I realized that I was qualified to handle this position and to be here and that I’m here for a reason.

Rida Khan
Yeah, absolutely. It’s all about overcoming that imposter syndrome. You were hired for a reason. You’re hired because you’re an SME at this. And I think a lot of, you know, Trovata clients, we often run into one person treasury teams or people that are just scaling new treasury functions at their organization. It’s not easy. It’s not easy to be the new person on the blog, you know, in the finance and accounting org and just saying, hey, there’s this thing called treasury. Let me teach you about it. And here’s what’s important.

There’s probably a lot of folks that are listening that are either, you know, the first treasury hire in their org or about to join a company to build out a treasury function.

What would be the thing that you would say is difficult or surprising about that and any pieces of advice as they approach in their first 30, 60, 90 days.

Laura Loeffler
So I would definitely say, some of the most surprising or difficult things about starting a treasury function from scratch is definitely the resources and time that it took, as well as the degree of education along the way that I kind of previously mentioned. Starting from the ground up, putting the basics into place, the processes, the procedures, specifically here, my strength coming in here was treasury operations and cash management.

And now I’m kind of technically overseeing all aspects of treasury as the sole person. So it’s challenging to, it’s the balancing of the operational and the strategic needs as a team of one. It’s challenging to find the time to effectively manage the operational aspect, the day-to-day, while also formulating those strategic and value-added objectives, both short and long-term. The day-to-day doesn’t stop, so it comes down to efficiency and streamlining and you know.

Enter in Trovata. Besides creating a completely new banking structure, when I came in, one of the other first projects I initiated the first year I was here was implementing Trovata. And so that was really key and pivotal to streamlining some of the manual processes and freeing up more time to do those strategic and value-added.

And I would say the 30/60/90-day game plan is get to know your colleagues and your stakeholders. Set up interviews. Understand their roles, their responsibilities, their personalities, their managerial and communication style is key to getting through to people. But also their goals and objectives and how your objectives might impact or affect their workflows. That’s kind of instrumental.

And learning the industry, learning the business, especially if it’s a new area. Like me, I came from pharma and now I went into the agency space with media, communications, PR. Completely different. So learn the processes. Make sure that you are doing that before you begin formulating your plan and a way forward for Treasury. Because it’s so critical to understand before changing or implementing is what I always say.

And then once you have your plan, communication is so important. I feel a lot of times that is lacking a lot of companies, the communication is not where it should be. And that’s where things kind of fall through the cracks. That communication breakdown is where things start to fall apart. So make sure you’re communicating your plan to your superiors, to other departments, not just within yourself.

Rida Khan
Yeah, absolutely. And speaking of other departments, you one of the biggest things about going from having a team of like-minded individuals to being on your own is you miss having that feedback loop with other folks that have been, you know, in the treasury function, know what they’re talking about, and you get to brainstorm through challenges or new ideas. When it’s just you, who are you working with? Who are your collaborators then? And then how do you adapt to being your own feedback loop?

Laura Loeffler
Yeah, you know, adapting to being the go-to person and missing that knock on the door, right, feedback loop, it feels like an island unto myself, I say. You I do miss looking to a fellow treasury colleague or teammate in the same company who knows the business and what we’re going through and just being able to turn to them and say, hey, am I thinking about this right? Is there a critical aspect that I’m not considering?

So, you know, it’s that validation I think that I look for. And to overcome that, I’ve learned to lean in a lot to fellow treasury peers, former colleagues, industry experts, banking partners especially have been huge in supporting me all in my career, but especially here and in this aspect of being the sole person, they have provided invaluable education and insight as part of our banking relationships. So I would say leveraging those connections too can also introduce you to other people in the industry.

This is a new space for me. I’ve only been in this industry for three years. So I don’t really have a lot of treasury peers that I maybe necessarily know at other state agencies. Leveraging that banking relationship to just be like, hey, can you help connect me with someone in the industry that I can ask a specific treasury?

Insight question, you know, how are you guys doing this? You know something like general that maybe I’m not privy to So that’s really been I think huge in supporting me as a go-to person in this company

Rida Khan
Yeah, it always comes back to networking, right? I think that that is exactly right in speaking with your collaborators, speaking with your network and just kind of forging your own path, you maybe despite not having that validation loop and also just realizing, you I am that’s me, I can do this. So I think, you know, those takeaways are really, really valuable for anyone listening to this. And one of the things that you talked about in your real chemistry story was the implementation of Travato, which we appreciate and we did not.

Thank you for that free marketing. No plug. But it does speak to an area of expertise that I know that you have, right? You’ve implemented not one, but two treasury systems. You also implemented one at Celgene. So we think this is also a huge part for those that are coming into a treasury function that hadn’t existed before. They’re a team of one. Looking at the technology and making a plan around that is a huge aspect. And you’re a bit of an expert on that.

Can you share your top do’s and don’ts for anyone that’s thinking about embarking on this digital transformation journey and looking at that implementation and just thinking, gosh, how am I gonna survive that?

Laura Loeffler
Yeah, definitely. Kind of like my career, it was also one of those things I fell into and never thought I would become the subject matter expert on by far. So yeah, two very different experiences. Celgene, not only have I never implemented a treasury workstation before, but I had never even used one up until that point. And I had only been at the company maybe two or three months at that point before.

I was faced with stepping into the role kind of leading up the project from the setup and structural perspective with my supervisor kind of being the overarching project manager, because the person who was leading up that aspect had a promotion into another opportunity within the company.

And it certainly was a trial by fire situation for me, right? But it really forced me to understand the system and the business inside and out, which was a blessing in the long run, because it gave me a skill that’s very marketable and will make you an asset to any company. So while it was painful going through it, and I was grateful to have that experience, it worked out great. It gave me the understanding.

It greatly assisted me in troubleshooting down the road when problems would arise. And I knew how everything was interconnected on the backend. know, so if you change something here, it impacts there. No, don’t touch that. You know, so this was a true legacy system set up, right? It was lengthy. It was like a year and a half process. had multiple consultants coming in and helping the team to do it. at Real Chemistry, I also implemented one, but very, very different experience. Know, firstly, I was doing it alone but I was coming in with the understanding of how I wanted to set up the system. So that was hugely helpful.

I found it easier because Trovata being self-directed, I felt made it a very easier process. There were no consultants like the legacy systems. It wasn’t as time consuming or as lengthy as a process as maybe it would historically have been, a couple months versus a year or two. But it afforded this flexibility that was gained for reporting and analyses that I found was a game changer compared to the legacy systems which were much more structured and kind of out of the box.

I would say my three key important takeaways are one, it’s important to be educated. Know your company, know your processes inside and out before you do anything, before you change anything. Two, understand your needs and the end goal of your system. What do you want to get out of the system? What do you want it to accomplish for you and your team? And three, which is maybe probably one of the most important aspects that I’ve learned, take adequate time to map out exactly how you want your system set up and laid out. Planning is so critical in this part of the project. Plan before you even start implementing. Plan, plan, plan.

Lay out a very detailed roadmap for it because if you don’t think through it well enough and you don’t like it ultimately the way it’s set up, you’re gonna be stuck with it for a long time. It’s kinda too late at that point to be like, I wish I had done it this way or that way. So definitely the planning before implementing, very, very detailed is so, so critical to this type of project implementation.

Rida Khan
This is great. Yeah, I think that’s all really great points. And one of the reasons why we work so hard at Trovata to make sure that it didn’t require lengthy setup or IT help or consultant help was because we’ve talked to treasurers and just heard the stories of how painful this could be. And I think especially if you’re at a scrappy or treasury function, which I mean, who’s not these days, it feels like everyone’s being asked to do more with less. That can be really, really scary.

Think about what you’re solving for. Don’t get distracted by all the bells and whistles out there because ultimately you’re right. Like you have to be the strategist that actually ends up, you know, bring this thing to life. And the more complexities there, the more difficult it is to implement. I mean, the more pain for you, the slower to get to the impact of it all. So I think that is just a great takeaway for anyone listening is, you know, know what you want. Like you mentioned having a plan and be really, really clear about.

Laura Loeffler
Absolutely, absolutely. That’s the most critical point in my point of view.

Rida Khan
And you also mentioned having a roadmap, I think extends outside of just the technical project, right? I think that’s something that anyone in any profession, you know, leading a team, leading a function is thinking about all the time. Like what am I looking to do in the next three, six months, a year, two years? And, you know, I know when we talked last, you had described yourself as a list queen, someone who was always kind of tracking all the various to-dos, all the things coming up.

Laura Loeffler
Yeah.

Rida Khan
How do you build out this roadmap, especially when you don’t have as many internal resources for the month or the year? And what are your pieces of advice for those that might be listening that are thinking, you know, I just, I’m living really reactively right now at work and I would love to be thinking ahead like that and roadmapping like that. You know, how can they get?

Laura Loeffler
Well, definitely the way I build a treasury roadmap for the month or the year, upcoming future, definitely am a list queen. I will say that. My former manager used to always tease me about how many lists I had. used to say at times I had lists for my lists because I had so many. They’d be overlapping. But start with the list. I keep a running list of items that come up throughout the year so I’m not scrambling at objective setting time, like, what was that thing I wanted to do?

So I keep a running list. And basically, I think about what do I want to accomplish? What have I accomplished to date? What do I still need to accomplish, whether it’s this month, next year, this year? And then at high level, I prioritize, though. And I think about what’s most important, like what’s needed now.

What’s a nice to have? What can wait till later this year, next year, maybe two years, know, something to keep in mind and consider for future years. So I go so far as to actually break down those objectives that I have into smaller tasks. And I actually assign those tasks like a target date for completion. So I’ll actually have everything in Excel. have my high level goals, right?

And then I’ll have the individual tasks that will lead me to those goals. And so it helps keep me on track instead of feeling overwhelmed. Sometimes you can just stare at a list or a screen and say, where do I begin? It feels overwhelming. And that’s a waste of time. So I feel like planning takes the thinking out of it. Put the work in ahead of time to prioritize. So when I look at these lists, I put it in order of day. Instead of getting too far ahead of myself.

I say, all right, this is what I want to complete by June 30th. Let me focus on those and not look at those other things. And once those are done, move on to the next one. And I feel like that helps me be more methodical, right? I actually schedule blocks of time on quieter days throughout the week to focus on each of these different aspects that I’m working toward. And then those individual tasks are scheduled in, they’re blocked out. And it helps me methodically work towards the ultimate completion of those on the timeline I’ve given them.

Rida Khan
Yeah, I think that’s a great way to go about it. And when I hear you talking about this, I just keep thinking roadmaps are not just for product teams. And so often we hear from Treasurers who, you know, are looking to get a little bit more exposure in their organization, looking to get more budget, maybe make more of a splash internally. And I think this skill is something that really, really impresses leadership and higher ups is when you can come to them and say, Hey, I’m not just thinking about my day-to-day work or what I need to do to keep the ship afloat.

I actually have a plan for how we’re gonna scale this thing over the next year or even longer. So that’s something where I think no matter where you sit in the function, folks can listen to that and take that away and think, okay, what have I said to my manager, my even folks even higher up than my direct manager in terms of where I wanna grow in my area of ownership?

Laura Loeffler
True, and I’ll even add, it’s not a vacuum, right? I mean, there are a lot of things I would love to do for treasury, but I’m also being very thoughtful and mindful to not operate in a vacuum. Like a lot of my long-term goals may also, I don’t want to say may, they do align with the long-term business goals, right?

There may be areas of treasury that I’m not an expert in or as well versed in, but ultimately I know, maybe that’s the direction the company wants to go. So I need to start planning for that in the future. Like, how am I going to prepare myself for that day when, when we get there? So it’s not just about formulating a plan that I would like to see for treasury, but it’s also formulating a plan where treasury will be a strategic partner for the ultimate business goals that they want to achieve.

Rida Khan
I love that. That’s a sound bite right there. Strategic partner. That’s what all the treasurers want to be. And I think that’s the future of Treasury genuinely, seat of the table with the most high up folks at the organization because cash is the lifeblood of any company. And that needs to be something that anyone can speak to and Treasury is the person that shapes that story to educate all of the stakeholders internally.

So I love the way that you just said that. I think that’s exactly where this is all headed. And that’s where, you know, elite treasury is taking this function.

Laura Loeffler
And it’s true. I mean, as I’m sure many of the Treasury professionals know out there, think historically, know, Treasury was always just viewed as like a cost center, right? The person who manages the cash. But I think over, you know, the last couple of decades I’ve been in the industry, I’ve seen that shift in a view of Treasury.

that shift by the CFO or the higher level finance executives as more of a strategic value added partner in treasury and not just the person who manages the checkbook. So I’ve seen that shift over the course of my career of being in it. And I think that’s really a pivotal point in treasury as a niche and more people are starting to understand the value that we can bring to the larger and broader organization.

Rida Khan
Yeah. And I’m not surprised that you’ve seen that shift with just how thoughtful that you are in collaborating with your stakeholders, building out these roadmaps, thinking about these tech implementations. The things that you’ve shared in this episode just really show how there are so many strategic elements to treasury. is not operational in the slightest. And I think this is the role model.

This is the example for folks that might be feeling a little stuck in the grind that this is where their career should go. And this is what sort of value they should be driving internally in their organization. So I really appreciate you sharing all of this.

Are there any last words that you would want to share with any younger folks in treasury or finance that might be listening or anything you’re just excited about personally as we close out this episode?

Laura Loeffler
The advice I would give is, you know, for those coming into the space, don’t be afraid to find your voice, whether it’s asking the right questions for something that you don’t know, if you’re not the subject matter expert, you know, to educate yourself. Don’t be afraid to find your voice to advocate for yourself.

And don’t be afraid to speak up if you have something to say that’s value-added or that could be beneficial in the room, you might be surprised at the response that you get, you know I think it’s till this day even with all the experience under my belt, you know, you still have this whole imposter syndrome, I know we had touched upon briefly briefly in one of our prior conversations, you know, don’t let that get in the way of your, you know, success.

Don’t be afraid to speak up in any way because you might be saying something that someone else is thinking as well that they haven’t had the courage maybe to to speak up or saying in a room full of you know, higher level executives. I mean, it is a skill that’s learned over time, but find your voice, whether it’s to learn, whether it’s to be an advocate or whether it’s to add some knowledge to a conversation, your perspective, because sometimes that perspective is the one aspect that maybe someone higher up hadn’t considered.

And they say, wow, I didn’t think of that. Thank you for bringing that to my attention. And I still feel sometimes surprised when I’m sought out for my feedback by higher levels, especially here being the sole treasury person. Well, what are your thoughts? What do you think about this? And I’m like, wow, me? yeah, okay. Here’s how I would do it, or here’s what I think about it.

If they take it a step further and actually put into action some of your ideas, I mean, that’s priceless, you know, and that’s something you can kind of put in your back pocket and say, hey, I really do have something to add here and I’m a part of this team.

Rida Khan
I love that. That inspired me, so I’m sure that inspired the rest of the audience listening. Imposter syndrome happens to everybody, no matter what level of seniority you’re at, no matter how many years you’ve been doing your role. It’s very, you know, it’s hard to get over. And I think those words are just such a great reminder that confidence does come through action. And the more that you call on your network, have those mentors accumulate those wins.

Plan ahead, everything you’ve talked about this episode, you can really overcome that imposter syndrome. And I think that is just so important for anyone that’s listening. And so if you struggle with that or if you’re a team of one and just trying to figure out what you’re gonna do in the next week, nonetheless the next year, this episode is definitely for those people, right?

And I think there’s a lot to learn. So Laura, I can’t thank you enough for sharing all of this advice. Really, really powerful words to close out here.

Laura Loeffler
Thank you so much for having me, Rita. It’s really been a fun conversation.

Rida Khan
Also, yeah, I’ve had a lot of fun with you too. I hope our listeners have had fun checking this out as well. Don’t forget to subscribe to FinTech Corner on all of the podcast platforms.

Share this episode with a colleague that might be struggling with imposter syndrome or just needs a little bit of advice on how to conquer that next step in their career and check out the other episodes of Treasury Trailblazers as they come out.

Until next time, keep forging your own path, finding your voice and owning your seat at the table. That’s the lesson that Laura shared with us today. And I think that’s the lesson that I want, you everyone that’s listening to take home with them. So Laura really appreciate it.

Laura Loeffler
Thank you again, Rida.

Rida Khan
Thanks, bye.