#114: Giving The Next Generation The Room To Unlock Value in Finance

with Marcus Thelwell

Our Guest Mentor:

Marcus Thelwell is a business transformation manager at Deloitte in their Financial Advisory business as a Transformation Manager – where he works to improve profitability, employee experience and client experience through more modern ways of working. Marcus had worked between both Europe and Australia over the past eight years developing his Finance and commercial understanding working with globally recognised clients and also internally working with a range of industry renowned partners.

Marcus also holds CGMA and CPA designations and lives in Sydney, Australia.

Outside of work, Marcus is Deputy Chair of the Sydney CPA Young Professionals Committee, is a keen musician (writing, playing , listening and watching) and has recently become a (novice) triathlete.

Key Quotes From the Episode:

“[On two thing new entrants to finance can do immediately to start unlocking value for organisations] Knowing the business you work in really well is key, knowing what your stakeholders are interested in is key, because often in clients maybe 80 to 90 percent of the work that finance departments do is not of interest to the business whether that is through putting reports together that have been put together for year, or whether that is consolidating different data sets and numbers.” [09:37]

“[On engagement] As finance PR actioners we’re constantly waiting for the business to come to us to ask what they want but actually it should be the other way around where we continually test and ask questions of the business in terms of what they want because I think often we expect the business to know what they want but they don’t until they actually see something that is really useful, and then they’ll go actually that’s really useful and can we have more of that information please.” [10:45]

“[On the accountant of the future] you don’t have to have all these skills but you fundamentally need to be either into the technical [digital] side or really into the business side as well as having those core accounting skills.” [21:11]

(Other resources and how to connect with Marcus below).

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Key Points From the Episode:

  • Marcus deconstructs three things new entrants to finance can do immediately to start unlocking value for organisations.
  • Why we need to be more than our stereotypical image and the main things new entrants should be interested in.
  • A great example on how to keep finance professionals motivated to run mundane finance processes.
  • How having conversations to identify a common interest can boost your career success.

Time Stamped Show Notes

[02:48] – Marcus shares his career journey from university to Deloitte’s performance management consulting arm in Europe before, learning about systems, data and the more technical aspects of finance before ending up in the strategic finance team looking at data-driven decision making, as well as relocating half way around the world.

[07:11] – What new entrants to Finance should be looking out for and why we need to be more than our stereotypical image and the main things new entrants should be interested in (technology and data, commercial business acumen, and softer business partnering skills).

[09:36] – Marcus deconstructs three things new entrants to finance can do immediately to start unlocking value for organisations.

[11:50] – The importance and benefits of new entrants being inquisitive and curiosity about what we’re doing on a daily basis.

[14:38] – A great example on how to keep finance professionals motivated to run mundane finance processes.

[16:50] – How having conversations to identify a common interest can boost your career success.

[18:45] – What’s exciting Marcus about his current work and why the theoretical efficiency improvements from digital technologies aren’t yet clear cut.

[22:57] – The importance of understanding how systems work end to end and flow through to the end customer.

[26:00] – The best bit of advice Marcus has ever received.

[28:22] – The resources Marcus recommends finance professionals check out and in particular why it’s important to attend local events.

[31:42] – How best to connect with Marcus.

[32:03] – Marcus’s parting thoughts and why we should take opportunities to drive change.

 

Connect with today’s guest:

 

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