For anyone who thinks it’s too late to launch a new career in treasury, Sugandha Singhal’s career trajectory shows what is possible having risen-up through the ranks Vice President, Head Treasury from Executive Assistant back in 2005.
Back then, despite having no treasury experience, she was moved into the function as part of a re-skilling and diversity programme. In the ensuing years she not only went on to become the groups treasury head but also successfully transformed the treasury function.
That first plunge into a fast-paced, complex, treasury team was tough. She started her journey with no subject matter knowledge, minimal accounting experience, little knowledge of the regulatory and taxation landscape and sketchy understanding of ERP or banking technologies. She had no network, and her move was considered risky by colleagues, especially as she was a young mother raising two kids with her husband working overseas.
Within eight years, Sugandha became the youngest group treasurer in SRF’s history and the only woman in a senior-finance role at the company. She is also amongst the few females leading a global treasury function in India.
The support she received at that time now drives her determination to break down barriers and support DEI at the company. She started by making treasury more equitable and inclusive. Mindful of the fact she was given a chance, she often recruits people into her team on the basis of their attitude or ability, rather than qualifications or prior experience.
She encourages her juniors to work in different areas of the treasury and has deliberately recruited people from alternative career paths. She says the resulting diversity differentiates her treasury team and gives it a competitive advantage going forward.
Sugandha is known for supporting younger members of the team manage stress and anxiety levels. Her experience has allowed her to create a nurturing workplace that gives people the flexibility and confidence to find their potential.
Under her watch, treasury at SRF is characterised by a team culture that puts the “we” over “me.” She says that the first step in building inclusivity is helping and celebrating others’ success. Her progress in transforming the culture and developing human capital saw her voted “SRF’s Role Model” by employees at the company. Today colleagues call her “an inspirational figure” and credit her motivational leadership to a re-invigorated team spirit in treasury.
She has also overhauled debt management in a process that has included developing new strategies across geographies to lower the cost of debt and transparency between different borrowings in the company.
Increasingly, her focus is sustainability and SRF is working with lenders on a decarbonisation journey. A challenge given the complex regulatory landscape and the high emissions in the chemical manufacturing sector.
Her work is focused on creating GHG inventory and developing a carbon heat map that could help identify potential projects that are more sustainable to help the company hit its ESG targets.
She is passionate about using technology to transform business processes and has implemented many new solutions across her domain.
When she joined treasury at the company was mostly focused on securing loans, investing, and hedging. Now it touches strategic areas like business operations, payment models, banking, governance and risk, and is at the centre of decision-making from expansion plans to procurement models.
She’s introduced TMS (Kyriba), Dynamic Discounting, an API-based exchange rate update in ERP (Finevest) set up Bank Account Management Systems and introduced an inhouse Derivative Deal Management System and Loan Compliance Manager.
She has also overhauled debt management in a process that has included developing new strategies across geographies to lower the cost of debt and transparency between different borrowings in the company.
Sugandha says that everyone faces tough times. For her, values and ethics help her stand and remain strong. Values like integrity – towards self, work, the organisation, and society.
She concludes that you can never be truly successful unless you are happy. She believes a happy workplace and work-life balance are a must for all and she has proven that age, gender, and education are not barriers to success.
