My Life in Treasury: Jessica Oku, Director of Fund Development, Women’s Health Coalition Canada
In the world of corporate treasury, where precision meets complexity, Jessica Oku stands out not only for her expertise but for her vibrant passion – bringing fire, personality, and an abundance of insights. Here she shares her career story, one of growth, adaptability, and an unwavering commitment to being generous with her hard-won knowledge, for the good of the community.
Like many others in the treasury profession, Jessica’s career journey has not necessarily been a straight road. In fact, with a background in business management, she landed her first job at Guaranty Trust Bank in Nigeria as a commercial business account officer. In this challenging role, Jessica was responsible for managing and optimising the liquidity and investment portfolios of a diverse range of clients.
“Looking back, my early experience in commercial banking was invaluable for my later treasury career,” she reflects. “I was involved in everything from optimising liquidity positions to structuring complex debt instruments. It was an exciting time, full of challenges and opportunities to learn – which is really what I love to do, and why I find treasury so exciting as a career path.”
This period in the commercial banking world was not just a professional engagement; it was a deeply personal and formative experience for Jessica. She fondly remembers how her mother, a banker herself, influenced her career choice. “Watching my mom navigate her banking career with such grace and professional tenacity left a lasting impression on me. I adored the aura of professionalism, the corporate dress sense, and the engaging customer interactions. It was something I knew I wanted to be a part of!”
Blending knowledge with practical insights
After her stint at Guaranty Trust Bank, Jessica moved to Coronation Merchant Bank, where she served as a corporate banking relationship manager. This role expanded her expertise and exposed her to a broader spectrum of financial services, including managing large corporates and MNC clients. She worked on structuring bond issuances and trade finance solutions, which required a nuanced understanding of both local and international markets.
But Jessica’s role wasn’t just about numbers and transactions – it also involved a significant advisory component. Something that has stood her in great stead during her corporate years. At Coronation, she was frequently called upon to provide financial assessments and recommend strategies to enhance operational efficiency. “One of the most rewarding aspects of my job was offering advisory services. It enabled me to blend technical knowledge with practical insights to help businesses optimise their processes and achieve better financial outcomes,” she explains.
“And that sense of helping companies and people to perform better is absolutely something that I’ve carried forward with me into every role.”
How to make a career ‘pop’
It is no surprise then that Jessica was soon snapped up by the Seven Up Bottling Company in Nigeria to be its Head of Treasury – transitioning out of banking into corporate treasury for the first time. “Honestly, it wasn’t an entirely planned move,” she admits. “But after eight years in banking, I was ready for a new challenge, and the opportunity in treasury seemed like the perfect next step. I’ve never looked back since!”
The role at Seven Up offered Jessica a new set of tasks to master, alongside openings to explore further optimisation. Such was the scope of the position that she could quickly delve deeper into debt management, investment portfolio optimisation, and risk mitigation.
Her work at the company was marked by several milestones. One notable project involved raising funds for a major capital expenditure initiative to take advantage of a new market opportunity. Jessica had to act swiftly, leveraging her relationships with FIs to structure cost-effective debt instruments. “It was a tight time frame, and the stakes were incredibly high. But through collaboration and strategic negotiation, we managed to secure the necessary funding without straining our cash flows,” she recalls. “Looking back, I’m extremely proud of the team for making that happen.”
Another effective project spearheaded by Jessica was the comprehensive review of the company’s bank charges. Her in-depth analysis of fees paid over the five years prior to her joining the company revealed huge inefficiencies and instances of overcharging. Armed with detailed knowledge of regulatory requirements and banking practices from her time working in FIs, Jessica embarked on a negotiation process with the company’s financial partners.
“Understanding the regulatory documents, such as the guide to bank charges, placed me in a strong position during these negotiations. In fact, I would say this knowledge was essential to ensuring that the company was not being overcharged and that we were getting the best possible terms,” she explains.
Her strategy for approaching this project was to present a win-win situation to the banks, highlighting the potential benefits of a continued relationship with the company. As a result of this well-thought-out approach, she successfully negotiated a 40% reduction in bank fees. “This was achieved by leveraging the company’s business potential and demonstrating the mutual benefits of a restructured financial agreement,” she shares. This earned her two prestigious awards: The Professional Achiever’s Award and Outstanding Business Performer.
“Corporate relationships with banks should always be mutually beneficial. By understanding what we could offer the banks in return for better terms, we managed to reduce our costs significantly. It was about finding the right balance and making sure both parties benefited from the relationship,” she notes.
Bringing corporate know-how into the non-profit sector
Building on her corporate success, Jessica has recently embraced a new and impactful dimension of her career, namely transition to the non-profit sector where she now works as Director of Fund Development, Women’s Health Coalition Canada.
Despite having to get used to a completely different climate in Canada, Jessica has relished the challenge. And this new role has enabled her to apply her financial acumen in a mission-driven environment, focusing on raising and managing funds to support vital health initiatives. Her responsibilities include developing and implementing fundraising strategies, managing donor relationships, and ensuring that the organisation’s financial resources are allocated effectively.
As such, her deep understanding of financial management and her experience in structuring complex transactions have been instrumental in optimising the coalition’s funding efforts, ensuring that every dollar is maximised for the greatest impact.
Interestingly, this role has extended Jessica’s reach beyond that of a traditional treasury function, since it also involves a comprehensive approach to fund development that aligns with the overall organisation’s goals. Nevertheless, she can draw on her background in corporate treasury to provide strategic insights into cash flow management and liquidity optimisation, critical for the sustainability of the non-profit’s operations.
“Working in the non-profit sector is incredibly fulfilling. It’s a unique challenge where every financial decision directly impacts our ability to serve the community. My goal is to ensure that our financial strategies not only sustain our operations but also enhance our capacity to reach more people in need,” she explains. This role underscores Jessica’s commitment to using her skills for the greater good, making a tangible difference to the lives of women and families across Canada.
Shining a spotlight on skills
Beyond her technical expertise and professional achievements, Jessica is also passionate about sharing her knowledge and experiences. She frequently posts corporate treasury insights on LinkedIn, discussing best practices and innovations. “As a professional, I believe that our skills and knowledge are not just for us – they are meant to serve others and make an impact,” she says.
Jessica is particularly motivated to elevate the profile of the treasury function, which she feels often doesn’t get the recognition it deserves. “Treasury is the lifeblood of any business. We manage cash flows, optimise liquidity, and ensure that the financial health of the organisation is robust. It’s a critical function that deserves more of the spotlight, and I am happy to help do that in whatever way possible.”
Her commitment to sharing knowledge extends to mentoring and coaching, areas where she has made a significant impact and has now launched a coaching company – Young Professionals Coaching Inc., which empowers professionals with treasury and finance knowledge, tools, and resources to excel. The company focuses on building both the technical and soft skills of professionals to help them forge a thriving career and become impactful leaders. Young Professionals Coaching was born from the need to guide professionals on their critical path to success, “When I transitioned into treasury, there was no roadmap for consistently delivering exceptional results, but I knew that excellence was the barest minimum and I therefore decided to create one.”
Moreover, as a leader, Jessica firmly believes in the power of fostering a culture of continuous learning and open communication within her teams. “I encourage my team members to continually grow professionally and personally. We have regular team-bonding activities, where we can relax and connect on a personal level. It’s important for me that my team feels supported and valued, and that they know they can come to me with any issues or ideas,” she emphasises. “Work should be a place of inspiration, and people should feel comfortable to learn – even through mistakes.”
Embracing change
Looking ahead, Jessica has a clear vision for the treasury profession. She is an advocate for greater diversity in the finance sector, particularly in leadership roles. “In my experience, there has been a noticeable lack of female representation in senior finance positions. When I was working in banks, or liaising with them as a corporate, I was often the only woman in the room, and I believe we need to change that. Women bring a unique perspective and skill set to the table, and organisations can greatly benefit from a more diverse leadership team.”
Jessica also sees the future of treasury being shaped by technological advancements, particularly in data analytics and risk management. “Technologies such as AI that enhance our ability to analyse data and predict risks will be game-changers. They will enable us to make more informed decisions and better manage the complexities of the global financial landscape,” she notes. “One should not fear change, but embrace it. Of course, it is good to be cautious and to question, but one cannot swim against the tide when it comes to technologies that can truly change productivity for the better.”
Winning at board games of a different kind…
Despite her busy professional life, Jessica places great importance on maintaining a healthy work-life balance. Her interests outside the office, such as playing Monopoly and Scrabble, provide her with a creative and intellectual outlet. “Monopoly has always been my favourite board game. It not only sharpens my financial decision-making but also reminds me of the importance of strategic thinking. Scrabble, on the other hand, helps me expand my vocabulary and think more critically,” she muses.
“Work can be demanding, and it’s easy to get caught up in the daily grind. But having interests outside of the office is crucial for our well-being. It keeps us grounded and provides a necessary break from our professional responsibilities, and this is always what I will say to my team. It is important to make time for yourself, and your family, not just your career.”
It is this kind of wisdom, and care for the whole person, that defines Jessica. Her story – from commercial banking to corporate treasury, and now the non-profit sector – is a powerful reminder that the journey is just as important as the destination, and that the true measure of success lies in the positive impact we have on others.
