Our Guest Mentor:
Mohamed is a Senior Commercial Finance / FP&A expert, with more than 18 years of experience in global multinational companies: J&J, Novartis, Allergan, Energizer & Shire. He has handled multiple international senior roles across Middle East, Africa, India, Turkey and Southwest Asia. Mohamed specialized in FP&A – Financial Planning & analysis, Commercial Finance, Finance Business Partner, Business Controlling & Analysis and many other financial services.
Mohamed is also Chartered Global Management Accountant from CIMA Chartered Institute of Management Accountant, UK, and Certified Corporate FP&A professional, from AFP Association for Financial Professional, USA.
Mohamed has an MBA degree in Finance & Investment.
Key Quotes From the Episode:
“[Start building credibility] implement quick win solutions then short and long term goals that add value to the business.“[09:26]
“[In understanding the business] attend to all meetings as possible related to finance or not and contribute during the discussion.“[10:21]
“Be humble, don’t act like a controller or a police inside the organization.“[13:02]
(Other resources and how to connect with Mohamed below).
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Key Points From the Episode:
– Being new to the company and spotting problems by;
- Building relationship with stakeholders
- Conducting one on one meeting
- Consulting with staff and other departments concerned
- Soliciting feedback and expectation
– Setting the right direction for finance from a controlling department to business partnering
– Need quick win solutions? Understand the business first.
Time Stamped Show Notes
[03:10] – Mohamed shares his career journey being a finance business partner to pharmaceutical and FMCG companies across Middle East, Africa, India, Turkey and South East Asia. A Finance speaker, writer and
[04:19] – Memorable events at Energizer that helped Mohamed’s career as he found the finance team is not giving the support to the business.
[06:01] – Being new to the company and spotting problems by;
- Build relationship with stakeholders
- Conduct one on one meeting
- Consult with staff and other departments concerned
- Solicit feedback and expectation
[06:50] – Feedback he got from the engagement with other departments;
- Finance was not involved to any decision making or business meeting
- Finance is working in isolated environment
- Providing report without insights
- Weak relationship of finance to other functions
- Lack of detailed and meaningful analytics
- Multiple reports resulted to confusion of management
[08:05] – Setting the right direction for finance from a controlling department to business partnering.
[10:00] – Need quick win solutions? Understand the business first.
[11:04] – Benefits of having outside of work meetings;
– Informal discussion outside of work pressure
– Speak to people freely
– Meet with them during field work
– Observe and understand day to day work of employees
[12:41] – Employees were not used to see Mohamed do field visits and speak their language.
[14:17] – Reaching out those non-finance employees and for them understand accounting by speaking the common language.
[14:52] – Transforming the business towards being more business partners by improving the reporting and performance management tools.
[18:14] – Challenges Mohamed experienced during the introduction of improvements and the feedback he got from his superiors.
[19:41] – Reporting tools that make their lives easy after the conduct of survey.
[20:37] – Seeking feedback through surveys, still the best way to learn.
[21:46] – It takes time for the transition to realize and make actionable insights happen like sending the finance staff for field visit and make reports.
[24:23] – Making actionable insights by coaching the business not challenging it.
[27:09] – Gain the trust of stakeholders and become a true business partner as you influence the business decision making.
[28:52] – Things that Mohamed would have done differently;
– Getting the buy-in from senior management
– Changing the mindset of the finance team
– Listen more closely to customers
[30:13] – The Middle East is also in the process of transitioning from its old finance practices into business partnering.
[32:22] – The best bit of advice Mohamed received.
[34:19] – Resources Mohamed recommend to our audience to check.
[37:16] – Best way to connect to Mohamed.
[38:53] – Mohamed’s parting thoughts on looking at the future and improve in the interpersonal skills.
Create value as a Finance Business Partner: Transforming the finance function into a profit centre HYPERLINK “https://www.audible.com/pd/Coaching-for-Performance-5th-Edition-Audiobook/146907589X?ds_rl=1262685&ds_rl=1263561&ds_rl=1260658&mkwid=DSAINTTitle_dc&pcrid=239333741509&pmt=b&pkw=&source_code=GO1GBSH07271690CB&cvosrc=ppc%20dynamic%20search.google.634950925&cvo_crid=239333741509&cvo_pid=33581432409&gclid=CjwKCAiA-P7xBRAvEiwAow-VaRdDJCx_D5XzY4B6iIbW3E1dJ4Mgj2n6VtWhyFmYhcSy-wghbWKMbRoCv1YQAvD_BwE&gclsrc=aw.ds”by Mr Bo Foged, Mr Anders Liu-Lindberg https://www.amazon.com/Create-value-Finance-Business-Partner/dp/1724850741
The Audacious Finance Partner by Andrew Codd https://www.amazon.com/Audacious-Finance-Partner-Andrew-Codd-ebook-dp-B01KGP8JEW/dp/B01KGP8JEW/ref=mt_kindle?_encoding=UTF8&me=&qid=
Compliance to Commercial: The QUIET Approach to Finance Business Partnering Book by Andrew Jepson https://www.amazon.com/Compliance-Commercial-Approach-Business-Partnering/dp/0648342301
Who Moved My Cheese? Book by Spencer Johnson, https://www.goodreads.com/book/show/4894.Who_Moved_My_Cheese_
Connect with today’s guest: