Few corporate treasuries would have the necessary scale to establish a dedicated “Treasury and Tax competence centre” – but Equinor has done it, and Tor Stian Kjøllesdal has led it since it was put up in 2021. The initiative builds on a recognition that increased focus on people development and competence, in a more flexible and dynamic organisation, can provide the group’s treasury and tax management at higher efficiency and quality.
Under this set-up, Equinor’s Treasury and Tax department has become a marriage of two entities: the task organisation and the competence centre. The latter matches talents to roles depending on the requirements of the former.
The new structure has the advantage of being very agile, allowing the management to shift task allocation to where it’s needed the most, and giving employees the chance to try develop skills in various tasks across the treasury.
Tor Stian Kjøllesdal is Vice President and Head of Treasury and Tax Functional Centre of Excellence, Equinor
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