This lesson examines the tools and techniques for effective communication and negotiation in treasury . The ACT Diploma syllabus covers “evaluating a range of tools to communicate and negotiate effectively” .

3.1. Effective Communication Skills

Communication skills are indispensable for treasury professionals, with 56% of treasury executives relying heavily on communication skills . The ACT syllabus covers:

  • Effective use of a range of communication methods: Tailoring communication to the audience and channel .

  • Customising delivery: Adapting messages for different audiences, including non-specialists .

  • Harnessing feedback constructively: Using feedback to improve communication effectiveness .

  • Dealing with misunderstandings: Resolving communication breakdowns professionally .

3.2. Negotiation and Influencing Skills

Negotiation skills are critical for managing external relationships and achieving treasury objectives. The ACT syllabus covers:

  • Influencing and persuasion skills: Building support for treasury initiatives .

  • Skills needed when undertaking negotiations between two or more parties: Including setting clear negotiation objectives, clarifying differences, resolving disputes, and bringing negotiations to a mutually satisfactory conclusion .

  • Tact and diplomacy: Navigating sensitive negotiations professionally .

  • Managing conflicting opinions and agendas: Encouraging cooperation and collaboration .

  • Depersonalising the situation: Focusing on issues rather than personalities .

3.3. Stakeholder Communication

As treasury’s role expands across the enterprise, treasurers must communicate effectively with a wide range of stakeholders, including the board, senior management, banks, investors, and regulators . The ACT syllabus covers “managing and leading on internal and external treasury relationships” .

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