BROUGHT FULL CIRCLE BY A LOVE OF TREASURY
Nora Naadu Sena MBA, FCCA, AMCT
Regional treasurer for Nestlé – Africa, Middle East, Pakistan & Turkey
Published 5 September 2024
After four years working on the business side, Nora Naadu Sena returned to treasury this year, taking on the regional role for food and drink giant Nestlé in the Middle East, Africa, Pakistan and Turkey.
What does your current role entail and how did you arrive there?
I started my current role on 1 January, 2024. I started with a Bachelor’s degree in banking and finance from the University of Ghana, and never really thought about corporate treasury until I joined one. When I finished my degree, I thought, “right, let’s find me a bank” – but there were few jobs in the banking sector. So, when I saw a management trainee job advert for Nestlé, I applied for it.
At that time, Nestlé was building the sub-regional treasury centre in Ghana. One of my tasks was to establish the treasury activities in the Nestlé companies in the Central & West Africa Region into the structure in Accra. Once that was done, the sub-regions were consolidated into the Regional Treasury Centre in Dubai, UAE. I was given the opportunity to move to Dubai, where we manage the group treasury priorities for 50-plus companies in the region – that is Africa, the Middle East, Pakistan, and Turkey.
I worked in various roles at the treasury centre, managing cash, systems and internal controls. I was later promoted to deputy treasurer, with oversight on FX and risk. In 2019, I moved to the business side, as the finance and control manager for companies in the Middle East & North Africa Region where I managed – along with my team – accounting operations, statutory reporting, and tax and operational compliance.
Being on the business side was very insightful, as I gained a grounding in key operations and how it all fitted together – but then I realised how much I loved treasury! The business experience helped me appreciate how the treasury function could add value to the overall operations. In a lot of ways, this experience also enabled my return to treasury.
What qualifications did you take?
After my undergraduate degree in banking and finance, I studied for the Association of Certified Chartered Accountants (ACCA) qualifications, which I completed in 2009. In 2016, I graduated from the University of Manchester with an MBA in Accelerated Finance, having studied at the worldwide campus in Dubai.
Before my move to business operations in 2019, I sought a qualification that would help validate my treasury experience. So I asked around, and I found out about the ACT. I pursued the Certificate in Treasury level in 2019, and, because of my MBA and ACCA, was exempt from the Certificate in Treasury Fundamentals qualification and then only had to do one unit of the Certificate in Treasury.
I prepared for the papers over the year, and I absolutely loved it. The course further elaborated on the experience I had, and the fun part was being able to have words that technically explained activities I had done in past experiences.
I completed the Diploma in Treasury Management level last year (2023) and was super glad to have been awarded the Diploma award for the Middle East, which was very much the icing on the cake.
How did you get into mentoring?
I have only been involved in formal mentoring maybe twice, but there have been a couple of people I have helped and encouraged over the years, so I have mentored them without really realising it.
I have been a mentee myself for the past year, in a formal work programme, which was very encouraging, especially as I was transitioning into this role.
I am currently mentoring a young woman in the company. We have monthly calls and it’s been really fun, because I see her enthusiasm and desire. In the past few discussions, I managed to get another colleague, who is directly in her field, to join and encourage her, and this was insightful, even for me.
I am an avid believer in learning and development, and that is an area in which I am happy to support mentees. One of my bosses once told me: “Your education is like your briefcase. You fill it up and then, when you’re ready, you pick it up and go – and wherever you go, you can carry it along.”
I always encourage mentees to take advantage of every opportunity to build themselves up. It has benefits later, because that could be the only difference between you and the next candidate.
I encourage my treasury team to think about how they can develop themselves in the profession. One question each of us must answer is: “Am I a treasurer?” If yes, then ACT is a development path I would encourage them to take.
What do you enjoy most about your current role?
What I enjoy is treasury, really – and the past few months have been very exciting , being able to meet the external stakeholders and the banks. And there’s been a lot of drama in the region that I manage. We’ve had devaluation in Nigeria and Egypt, for example. You have Pakistan with all its economic dynamics, and interest rates in Turkey skyrocketing.
What I really love about treasury is that you wake up in the morning; you pick up the newspaper , switch on the tablet or TV , and hear or read the news , and you know that’s your job. Every day is different, and it forces you to stay on top of what’s going on in the world. Then of course, it’s about bringing it down to what is actually happening within the company and how that global picture affects the day-to-day business.
What’s next in your career?
I have been in this role for just three months. My immediate goal is to build on the good work of my predecessor and continue shining a spotlight on the crucial role treasury plays in creating shareholder value.
In terms of future career goals, I have been fortunate to work for an organisation that offers limitless opportunities for staff to do different things. I am sure something interesting will come up, but, at the moment, I’m just so thrilled to be back to treasury.
I decided to stand for election to the ACT Council this year, and am delighted to have been elected by my fellow members. I look forward to joining the Council in May. I love professional qualifications, because they force you to learn and they give you that continuous development, which leads to avenues in which to grow.
More about Nora Naadu Sena
Nora is from Ghana, West Africa, and has had the opportunity to live and work across Africa and the Middle East. She is the 2023 ACT Middle East Award winner for ACT Diploma level. Nora is married with three children. She loves travelling and meeting new people, and enjoys baking, cake decorating and watching football with her family.
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