Accountants for Business

Finance transformation roles: pathways to CFO

FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO 1 About ACCA About Accountants for Business

ACCA (the Association of Chartered Certified Accountants) ACCA’s global programme, Accountants for Business, champions the role of is the global body for professional accountants. We aim to finance professionals in all sectors as true value creators in organisations. offer business-relevant, first-choice qualifications to people Through people, process and professionalism, accountants are central to of application, ability and ambition around the world who seek great performance. They shape business strategy through a deep a rewarding career in accountancy, finance and management. understanding of financial drivers and seek opportunities for long-term success. By focusing on the critical role professional accountants play in Founded in 1904, ACCA has consistently held unique core values: economies at all stages of development around the world, and in diverse opportunity, diversity, innovation, integrity and accountability. organisations, ACCA seeks to highlight and enhance the role the We believe that accountants bring value to economies in all accountancy profession plays in supporting a healthy global economy. stages of development. We aim to develop capacity in the profession and encourage the adoption of consistent global ACCA’s smart finance function campaign standards. Our values are aligned to the needs of employers ACCA’s smart finance function campaign showcases the good practices, in all sectors and we ensure that, through our qualifications, we challenges and opportunities corporate finance functions face. It explores prepare accountants for business. We work to open up the how the quality of finance leadership, the adoption of breakthrough profession to people of all backgrounds and remove artificial technologies, better people practices, and innovative thinking can barriers to entry, ensuring that our qualifications and their transform the finance function. delivery meet the diverse needs of trainee professionals and their employers. www.accaglobal.com/smart We support our 162,000 members and 428,000 students in 173 countries, helping them to develop successful careers in accounting and business, with the skills needed by employers. We work through a network of over 89 offices and centres and more than 8,500 Approved Employers worldwide, who provide high standards of employee learning and development.

© The Association of Chartered Certified Accountants, October 2014 Contents

Introduction 4 This report asks a simple question: are 1. Path to CFO through shared services and outsourcing – really? 5 finance shared service and 2. Career catalyst for the country CFO or controller? 7 transformation roles valuable in the 3. Graveyard of ambition? 8 career path to becoming a CFO?

4. Out of sight, out of mind? 9

5. BPO as a source of CFO talent? 10

6. Timing is everything 11

7. Victim of its own success? 12

8. One door closes, another one opens 13

About the authors 15

The ACCA finance transformation, shared services and outsourcing advisory group 16

FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO 3 Introduction

Can all pathways, particularly those Right now, a so-called urban legend skills that leaders pick up in finance through a corporate finance shared positions finance transformation roles as a transformation roles not similarly services role, lead to the position of CFO? dead end for those who want eventually transformative for the organisation as a ACCA’s previous reports on finance to occupy the top finance seat at the whole? Should the value ascribed to the transformation have dealt with models, executive table. Perhaps that is because skills and capabilities that shared services technology, talent, efficiency, change and of the relative immaturity of the shared and outsourcing leaders bring to the table effectiveness. Yet, for finance leaders, service finance model or perhaps finance be reassessed? Is it time to transform the what they do, and what it means for their transformers just have not had time to profile of the CFO? career, especially if they aspire to a CFO reach the top; perhaps it is because position, is just as important. Is shared organisations need to amend their view of Does finance career path myopia have a services and outsourcing as a discipline, the capabilities now required to balance silver lining for those who take on as an assignment within the current agility and risk, growth and compliance in transformation roles, creating a different, financial value chain, of any value to increasingly complex market contexts. Or perhaps more exciting future for finance careers? Does it attract the best and perhaps it stems from a lack of leaders? Does assignment to shared brightest finance professionals who want imagination, resulting in leadership services and outsourcing roles open up to be CFOs? Or are transformation roles a development constructs that follow the new career pathways not previously graveyard for those whom the more traditional pathway through available – or at least not obvious – organisation believes add value, but who controllership roles. benefiting both the leader and the are not expected to achieve the top organisation? This report looks into the finance role. It is time to be honest, brutal Can the organisation afford to relegate pros and cons of taking on a finance and very discerning about the benefits finance transformation professionals to a transformation role. – and challenges – of following a career career graveyard in the face of rapid route through finance shared services and changes in markets, globalisation, outsourcing. technology, and management? Are the

4 FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO 1. Path to CFO through shared services and outsourcing – really?

Finance leaders concur that the adoption of shared services and outsourcing models has inextricably changed their career trajectory. With over 80% of the Fortune 500 consolidating transactional finance processes in remote centres, the formerly vertical finance operations model has been upended. The traditional finance career equation has been disrupted.

Both organisational and personal benefits customer focus – are recognised in understanding of the skills finance reporting side – think they know the come from moving to finance shared organisations that value agility. professionals acquire by working in a business; they think the guys in the back services and outsourcing models. shared service model; perhaps it is office don’t really ‘get’ the business. I Organisations can standardise processes, The question remains: are shared services because a higher value has traditionally would say that’s a very imbalanced function reduce cost, and tap into the benefits that an obvious pathway to the CFO position? been placed on planning and reporting. because I think the guys in the back office only scale and scope are able to provide. As Chris Gunning of Unisys says: ‘I think often understand the business an awful By moving offshore, finance services are Shared services operations – and their audit experience, compliance control, risk lot better than the guys in the front’. able to access extensive new sources of leaders – have value in the eyes of C-suite management, whether it’s from one of talent and the finance organisation can leadership. In fact, the vast majority of your big four external firms or internally in Whatever the reason, it is apparent that potentially move up the value chain by CFOs with successful shared services or the company is more critical to the senior there is often a dual career path for freeing up management time and outsourcing models would not go back to finance career path’. finance professionals – a clear path to focusing on value-added roles such as a vertical model. IBM’s Sandy Khanna CFO through the so-called retained business partnerships, financial planning sums it by saying: ‘CFOs have embraced Perhaps there is also a myopic view about organisation with a distinctly different and analysis and strategy. the fact that having an alternative service where the pool of finance talent can pathway through shared services. delivery model is really important for their actually be found. As Nigel Coffey of Similarly, there are some skills that finance [CFO’s] own sanity’. Pepsico puts it: ‘when it comes to selecting That is not necessarily a career negative, professionals can hone only when finance a CFO, I think the choice is a CFO who posits Unisys’ Chris Gunning. ‘I think moves to a consolidated model. Several Yet is this a rich hunting ground for CFO understands the numbers rather than what’s interesting now is the movement to capabilities – managing remote and often material? Leaders see that as highly understands the back-office functions. global business services or GBS cross-cultural teams, managing change, unlikely at this juncture. Perhaps this is There is snobbery in finance: the guys in (aggregating all business delivery and developing a greater level of because of the relative lack of the front of the house – [the] planning and functions under one functional group).

FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO 5 While traditionally finance shared services different question to “do I have to run sat under the CFO function, now the head shared services at some stage in my of the GBS function, often the former career?” Even if shared services move up head of finance shared services, is at the the value chain they’ll never move so far same table. As far as the executive that they really take a big chunk of that committee is concerned, the CFO and the strategic decision support work’. GBS leader are almost equals. It’s a different route; the finance shared Julie Spillane from Accenture considers services leader now says “I’m not part of the CFO role as two sided, on the one the finance team. I’m going to run the hand focused on strategy and investor business team separately while one of my relations, and on the other a traditional many stakeholders is now the CFO”’. finance operational leadership with greater internal focus. She sees time served in a For a transformation leader with an eye on shared services rolepotentially beneficial a CFO role, that is not good news. Peter for the latter. ‘When I think about shared Moller of Deloitte sums it up by saying: services and outsourcing experience I ‘90% of CFOs probably would say, yes, it’s think it is extremely helpful for the CFO very important that I understand and can operational leadership role because you control finance delivery so that if there are learn to be leaders of people, and how to problems I can identify them. That’s a organise and operate effectively’.

6 FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO 2. Career catalyst for the country CFO or controller?

Finance transformation leaders do see two roles that benefit greatly from a stint in finance transformation or shared services – the country CFO and the controller.

Sometimes relegated to the back waters ‘I spent ten years as a Country CFOs are not the only ones to of the organisation, especially in a benefit from a stint in a finance shared multinational organisation, but with time country CFO and I never services or outsourcing role. Nigel Coffey served in a shared services role, these succinctly confirms the value of a shared professionals are able pick up skills that met or spoke to the services rotation, saying that: ‘having are difficult to attain when balancing the global CFO. On my very some time in shared services is pretty books of one country or business unit. By essential if you’re going to be a good its very nature, a shared service role can first day in shared financial controller because you need to give access to the top finance officer and services I was presenting understand those blocks that create the provides visibility to the person carrying data that you’re using’. out the role; country CFOs who have to the senior leadership spent time in a transformation arena may team. As a shared Nonetheless, selling this view to find that they suddenly have better access professionals fixed on following a to the C-suite, more responsibility and services leader you get traditional career path is not easy, vital global experience. access to a much more especially if their organisations have not yet designed and implemented career senior layer in the pathways that encourage them to take up organisation than you will a transformation role. Many country CFOs or controllers, doggedly following a ever get as an individual traditional career trajectory, still see a country CFO’. stint in shared services as a sideshow.

NIGEL COFFEY, PEPSICO

FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO 7 3. Graveyard of ambition?

Earlier in his career, PepsiCo’s Nigel just not quite making the grade. In fact, knowing how to deal with operations and Coffey resisted a placement in the shared not all companies view the role as a the implications of culture. Shared services organisation of the company graveyard. Finance organisations with very services experience is extremely helpful where he then worked. ‘When I was asked mature – and successful – shared services for this new generation of leaders’. to go into an SSO role, my first reaction and outsourcing models are now was, “you must be joking”. I called it the consciously plotting career pathways Even so, Deloitte’s Peter Moller cautions graveyard of ambition; there’s no through shared services or outsourcing leaders against over-valuing shared progression, no career. I said I’d give it operations, acknowledging that the skills services experience when plotting the two years contingent upon a guaranteed honed in these organisations are key to move up the career ladder. ‘Let’s not kid pathway back into the business. At the building a strong finance management ourselves. Finance shared services leaders time I didn’t understand the complexity bench as well as top-tier talent. have limited experience moving up the and the nature of the challenge. Today I finance value chain. Shared services look back at my old job and think I was so Accenture’s Julie Spillane concurs, stating operations by their nature are never going bored at the time. There was nothing to that she sees a dichotomy in the CFO role to be strategic’. do, just count numbers’. that is addressed by experience in shared services organisations. ‘There are He is not alone in thinking that changing expectations for the next transformation roles are sometimes generation of CFOs. I see a bifurcation of considered a parking lot for useful the role – internal and external. Being people, but not up-and-coming finance able to navigate increasing business leaders. It can be seen as a place to park model complexity internally means finance professionals who are viewed as responding to changing expectations –

8 FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO 4. Out of sight, out of mind?

Career experiences and expectations vary for finance transformation leaders. Some view shared services leadership roles as a backwater, while others are not concerned about having a shared services role on their CV, believing that, for talented finance professionals, a seeming detour on the pathway to a CFO role does not result in career derailment.

In any case, shared services experience The CFO’s belief and reliance on shared in great part upon the organisation: ‘If the alone will not make a finance services plays a role here. Unisys’ Chris shared services organisation is valued, as transformation leader into a CFO. In fact, Gunning believes that ‘if you’ve got a CFO it is in many mature organisations, it leaders are adamant that there must be a who’s a fan of shared services, it certainly becomes an important talent pool’. He life before shared services, in more helps people on the career path to higher goes on to say that in companies such as traditional finance roles. If you want to senior-finance-level positions’. In addition, Unilever, a shared services rotation is seen become CFO ‘you don’t start off in shared leaders do not discount the role of the as an important step in ascendancy. services’, declares Moller. ‘You use a corporate culture. SpecSavers’ Dilesh Sandy Khanna agrees, saying that he has position there to hone and supplement Magdani says: ‘the company and their seen organisations that have deliberately your finance skills’. attitude towards leadership and people moved individuals onto the fast track to management weighs in on the value of finance leadership through transformation Nigel Coffey agrees, saying that it is shared services. Obviously I work for a or shared services roles because they easier to push staff with strong finance company where it’s all about people and understand, and really value, the business backgrounds out of the shared services so leadership skills are more important experience gained. nest. ‘Staff with functional skills are hard than the technical aspects’. IBM’s Sandy to place back in the business, but those Khanna concurs: ‘You’ll always find that with deep finance skills are always in the good finance leaders find great roles demand, particularly in controllership because they’re in demand’. roles’. Deloitte’s Peter Moller goes so far as to stress that time in a finance shared PepsiCo’s Nigel Coffey qualifies Sandy services operation is now essential for Khanna’s comment, saying that the career today’s controller, but not for the CFO. path to bigger and better things depends

FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO 9 5. BPO as a source of CFO talent?

With so many finance organisations turning to the outsourcing model, the question arises: are business process outsourcing (BPO) providers a source of talent? They should be, given that the global trend to outsourcing and shared services in effect ‘hollows out’ the supply of talent by moving transactional roles out of the organisation, disrupting the historic progression of finance professionals.

Leaders suggest that it is difficult for obviating the need to build or look for ‘I would say our loyalty would be to our own finance professionals in business process talent in the provider ranks. Yet where do outsourcing to move through a career skilled finance BPO resources go for colleagues first but if we can assist in the trajectory to becoming a CFO on the advancement? Although Chazey Partners’ client side. There is a view that the Anirvan Sen sees provider personnel as development of our partners and staff, absolutely. I outsourcing provider’s role is to run a ‘extremely hungry to move up the ladder’, have had people come in from a provider on factory comprising strong transactional there’s no clear answer. After all, shared talent, not to serve as a breeder of CFO services leaders with greater proximity secondment for one or two years to work with the talent. and contextual understanding who are business and it’s great development for them. But I already in the organisation are naturally at In addition, the finance and accounting the front of the queue when it comes to would say even with that experience it’s very hard for BPO career construct itself may also get securing CFO roles. Perhaps they will just them to make the jump into the CFO career path in the way of talent interoperability. have to wait until career paths evolve Leaders relegate talented provider through BPO organisations. As Unisys’ because they’re competing against people that personnel into roles as executors of Chris Gunning says ‘the bulk of the finance already have 10, 15 years’ experience within quality finance transactional tasks, not as jobs that we’re creating today are in India aspirants to CFO roles. so I think there are fewer on-shore or multinationals’. near-shore opportunities for these staff to NIGEL COFFEY, PEPSICO Leaders do not yet perceive the need to move through a career pathway to CFO, cultivate BPO-based talent as a source of be it within shared services or in another finance leadership. They believe that area’. ‘onshore’ talent pools remain plentiful,

10 FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO 6. Timing is everything

While finance leaders acknowledge that shared services roles are a superb training ground in which to attain vital capabilities in global leadership, virtual management, transformation and operations, they also acknowledge that, in some organisations, staying too long can be hazardous to career trajectories if the finance leader’s ambition is to take on a CFO role. Specsavers’ Dilesh Magdani sums it up by saying ‘There’s a risk that you could get labelled as a back-office guy’.

G4S’s Simon Newton stresses that the Nigel Coffey from Pepsico agrees, saying pathway through shared services is a that corporate memories are short: ‘What matter of careful timing: getting ‘in and you did a few years ago is long forgotten’. out quickly or changing your career Simon Newton concurs, stressing the aspiration is important; 12–18 months is need for what he terms ‘recency’ in career the right tenure unless you are moving management. ‘Again, there’s that risk that down a career path that doesn’t include a the shared services leader is labelled CFO role’. He believes that at an ‘non-CFO’ material’, said Deloitte’s Peter advanced stage in a finance professional’s Moller. career, a rotation through shared services is less than advantageous on the pathway to CFO. ‘I think if you step into a shared service role typically you’re stepping away from the business, unless you’re doing it under two circumstances. First, if you are in an organisation which manages careers really well and sees a shared services role as a plus; or second, you’re relatively junior, relatively young and ticking boxes and getting experience’.

FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO 11 7. Victim of its own success?

Does high performance in a shared services leadership role get in the way of securing a CFO role? PepsiCo’s Nigel Coffey believes so, saying that there’s a direct relationship between the perceived value of finance shared services and the ability for a leader to move out into other roles.

What do you do to get out? Do you leave – albeit with all its difficulties, such as the organisation, moving into another, recalcitrant stakeholders, developing a larger SSO role? What’s your logical next successful outsourcing provider step? Leaders generally agree with G4S’s relationship, standardising processes, Simon Newton that there is some length putting in new technology – is an of shelf life to a shared services leadership adrenaline high for many. Once the model role, regardless of personal career is bedded down, the ‘thrill’ is gone and it aspiration. That ‘shelf life’ may not be in a is probably time to move on. transformation role per se, but rather in a specific organisation. Shared services management can also be parsed as a series of projects. Once a ‘I think you move, I would say. That’s what project is completed, boredom can set in I did after a long career with another and the challenge is gone. ‘I think by the company. You’re looking for a new nature of what we do it tends to be very challenge and you move and you find the project-type-related. When that project organisation that’s going to provide that comes to an end or is getting too staid new challenge’, said Nigel Coffey. and steady, I think some leaders will pick up sticks and move on to the next One of the challenges of shared services challenge, and that may require that they is its lifecycle – change the model, then change company’, says Nigel Coffey. run the model. For leaders up to the transformation challenge, the change part

12 FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO 8. One door closes, another one opens

Here is a bit of heresy: perhaps a CFO role as an aspiration is just not big enough or good enough for the successful finance transformation leader.

That’s not to knock CFOs but rather to it’s not the best route to CFO but for Transformation roles may provide posit that the skills a finance leader picks somebody who’s entrenched in finance, different opportunities for growth to up running a global business services the move into a more operational role controllership or roles outside the finance operation are better placed, and can might be a good move toward a CEO organisation but some in the Advisory create as much (if not more) value in other role’. In short, he suggests that shared group really question its value as a parts of the organisation. Perhaps the services provides a great breeding pathway to the top finance job. As Peter importance of running the finance engine ground for talent, but not for CFO talent. Moller concludes, ‘I don’t think shared room, whether the latter is concentrated service roles will ever be the real on transactions, statutory reporting or, as stepping-stone for a CFO. I think we just is increasingly the case, financial insight need to get on with that’. drawing on all the data and analytics, ‘We don’t want to be the should not be underestimated. ‘Perhaps a bean counters of old. Ask COO path is as good, or even better, next step, for the finance transformation 100 shared services leader’, posits Peter Moller of Deloitte. leaders and you’ll find

For many finance transformation leaders, that few aspire to be the a pan-enterprise opportunity to make the traditional CFO’. organisation more effective and efficient may be more tempting as a career ANDREW BACON OF DOOSAN. aspiration. As Andrew Bacon says, ‘maybe

FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO 13 Final thoughts

How do finance leaders manage their own career paths to a CFO position if they find themselves in a transformation role? Or how do they position themselves to move in other equally satisfying directions? According to the experience of the Finance Transformation Advisory Board, there is no single answer but here are some considerations for those currently in finance transformation roles, or contemplating a career turn through such a role.

CONTEXT MATTERS • How aggressively is top leadership LOOKING OUT FOR ROLE MODELS TIMING IS (ALWAYS) EVERYTHING moving to a services model? Is it a Some organisations prize the value that hobby, or part of an overall plan to Many finance transformation leaders are While the Advisory Board members finance transformation brings to the transform the business? pioneers, the first occupants of their jobs. generally agree that watching the organisation, while others still view shared Nonetheless, some organisations have calendar is a good thing for those in services and outsourcing merely as a • Do those working in outsourced or been engaged in finance transformation finance shared services roles, keeping an factory for transactional, rules-based shared services centres have access to for over 10 years, which can seem a eye on the corporate agenda and the work. Finance leaders need to look closely management, or does the organisation lifetime in corporate history. What leadership cast of characters is also at a number of factors before taking up a only prize silent running (the ‘out of happened to the previous transformation important. Organisations do shift their transformation role or considering the sight/out of mind’ view of the world)? leaders? If they have moved on into other, approach to business service models, length of stay in a leadership position. It is perhaps larger or more responsible often as a result of a change in top critical to ask several questions. • Does the CEO actively sponsor the corporate roles within the organisation, leadership. Not all CEOs or CFOs are move to shared services or the shared services job is probably not a converts to the concept; with a outsourcing? Has he or she pushed it career-ender. If the previous incumbents management change or a merger, the as part of the corporate mandate? have taken on bigger roles in another career prospects for the most senior of company, it is likely that the organisation finance transformation professionals can If the answer to these questions is ‘yes’, is seen as a best practice operation and a be swiftly turned inside-out. the chances are that the corporate breeder of good talent. In either case, time context will be supportive. in that shared services organisation need not always be a career-limiting move.

14 FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO About the authors

DEBORAH KOPS JAMIE LYON

Deborah Kops is the founder and Jamie Lyon is head of corporate sector at managing principal of Sourcing Change. ACCA, and leads ACCA’s research Formerly a founding partner of one of the programme on the CFO agenda and the first global business processing future of the finance organisation. The outsourcing (BPO) units, the chief programme focuses on a diverse range of marketing officer of a leading offshore issues facing leading businesses today, BPO, managing director of FleetBoston’s from the evolving role of the CFO, finance Services Group (now Bank of America business partnering, global business Services Group), managing director of services, shared services and outsourcing, global sourcing transformation for human capital, talent management, Deutsche Bank and a partner at learning and technology. PricewaterhouseCoopers and Arthur Andersen. Jamie regularly speaks at events and conferences on finance-related issues and Deborah now works with leading has contributed to numerous companies to manage globalisation management and finance media including challenges. She is also programme the Financial Times, Accountancy Age, director focusing on global business Finance Director Europe, Outsource services for the eminent US-based Magazine and ITN. Before joining ACCA research organisation The Conference he qualified as an accountant and spent Board, and a member of the editorial many years in industry working in the UK board of the industry-leading publication and internationally for two leading FTSE Outsource Magazine. 100 businesses.

FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO 15 The ACCA finance transformation, shared services and outsourcing advisory group

The ACCA finance transformation, shared services and outsourcing advisory group supports ACCA’s ANDREW BACON, HEAD OF EMEA SHARED NIGEL COFFEY, SENIOR DIRECTOR OF global research and insight work. JOHN ASHWORTH, GLOBAL HEAD OF FINANCE TRANSFORMATION, PEARSON SERVICES CENTRE, DOOSAN INFRACORE FINANCE PROCESS TRANSFORMATION,

John joined Pearson plc as part of the internal Andrew Bacon is located in Dublin. Doosan PEPSICO Bringing together a panel of audit team from Coopers & Lybrand before Infracore is a Korean multinational and the Nigel Coffey qualified as an accountant with leading industry experts, it working in a variety of roles in Penguin Books, seventh-largest construction equipment Arthur Anderson & Co in the UK in 1993 before provides unique perspectives on the a division of Pearson, including those of company in the world. The EMEA Shared going on to work with Pricewaterhouse in key issues affecting organisations international finance director, supply chain Services Centre provides IT and finance Ireland and subsequently as a finance director seeking to transform their finance business manager and UK controller. He was back-office support to the region. Andrew is with Novo Nordisk Pharmaceuticals and Pfizer and business operations. CFO, then CFO and IT director, before also the chief accounting officer for Doosan in Ireland. As finance director of Pfizer’s Irish becoming managing director of Pearson’s UK Infracore’s operations in EMEA, a role he held commercial operations, Nigel was involved in shared services team running a 1,000-head before establishing the shared services centre the initial set-up of the company’s European captive operation supporting F&A, IT, in Dublin in 2012. Andrew is a Fellow of the Shared Service operations in Dublin in 2002 customer services, logistics and facilities. Association of Chartered Certified Accountants before joining the shared service organisation (FCCA) and will complete his MBA from the as European service delivery director. Nigel University College Dublin, Michael Smurfit joined PepsiCo in 2013 to lead their European Graduate Business School, in August 2014. shared service initiatives.

GEORGE CONNELL, VICE PRESIDENT LEO CURRAN, SENIOR VICE PRESIDENT, LEIGHTON DAVIES, DIRECTOR OF THE STRATEGY, FINANCE OPERATIONS AND HEAD UK/EUROPE, EXL FINANCE CENTRE OF EXCELLENCE, BBC CENTRE FINANCE LEAD (GLASGOW), SHELL Leo leads EXL’s UK/European team and brings Leighton Davies currently leads the Finance George is an accountant by profession having deep experience of the business process Centre of Excellence for the BBC and brings worked for Grand Metropolitan, Avon solutions industry across a number of industry significant finance and business transformation Cosmetics, Britoil and Whitman Corporation in sectors. He has first-hand experience of experience and understanding. Prior to joining a variety of finance and general management large-scale sourcing change-programmes the BBC Leighton held senior finance positions roles before joining Shell in 1998 to help across Europe and beyond, and is currently with Network Rail and was finance director for establish the first of their shared service working with his teams to realign their GE Aviation. He started his career training as centres in Glasgow. He is currently responsible approach in response to the developing trend an accountant with Ernst & Young and then for Shell’s global finance shared service of global business services in Europe. moved his career into corporate finance at strategy, migration delivery and double hats as Deloittes. He is currently transforming the BBC finance centre lead for the Glasgow centre. Finance Centre of Excellence and embedding new ways of working built on the premise of open and honest communication, continuous improvement and problem-solving lean principles.

16 FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO For Large Use:

LIZ DITCHBURN, RELATIONSHIP LEADER, CHRIS GUNNING, VICE PRESIDENT GLOBAL PASCAL HENSSEN, SENIOR VICE PRESIDENT PATRICK HICKS, SERVICE OWNER, GLOBAL KIMBERLY CLARK SHARED SERVICES, UNISYS AND CFO EUROPE, GENPACT FINANCE SERVICES AT GSK PLC Liz has built an excellent partnership with Chris Gunning is vice president of global Pascal joined Genpact in 2009 as COO Europe, Patrick is an FCCA who has worked in the Genpact who provide F&A shared services and shared services at Unisys. The shared services with responsibility for leading its Romania, energy, financial services and pharmaceutical procurement. She also heads up an organization comprises a mix of larger Hungary, Poland and Morocco centres – as the sectors, holding a number of senior roles in outsourcing centre of excellence covering the operational transaction processing centres company was building on its original mission as tax, financial control and finance services and five outsourcedFor Sfunctionsmall Use: across Kimberly- (TPCs) and smaller-sized footprints of regional a part of GE to become a global leader in finance transformation. Patrick joined GSK from Clark. Liz has (This over size and 15 smaller): years of making front desk service delivery centres operating transforming and running business processes Barclays in 2009 and headed the Global Tax outsourcing work in global organisations from from seven main locations across the globe. and operations. During Pascal’s tenure, and Centre of Excellence before moving into the client side, and has successfully created Historically seen as ‘traditional’ finance SSC also thanks to his leadership in Europe, Genpact finance services as the global process owner organisations to deliver through onshore and covering typical A2R, P2P and OTC functions, grew to 60,000 staff and 700+ clients including for record to report. He then took up the role offshore operations. the portfolio has expanded to take on board over 100 of the Fortune Global 500. Prior to of finance service owner for EMEA and set up many support operations for sales, supply joining Genpact, Pascal spent 14 years with the European Finance Business Service Centre chain and procurement, human resources, General Electric, and served as European COO in West London. Patrick is now responsible for facilities, and commercial functions. in corporate financial services, and GM for GE’s GSK’s global finance services. shared services in EMEA.

PMS 425 PMS 542 BLACK

GARY HOBBS, CEO, AVIVA GLOBAL SERVICES SANDY KHANNA, GLOBAL F&A AND SCM DILESH MAGDANI, DIECTOR OF FINANCE JAMES MEADER, PARTNER, ERNST & YOUNG. Gary joined Aviva in 2004, prior to that he PRACTICE LEADER, VICE PRESIDENT, IBM SHARED SERVICES, SPECSAVERS James is a partner in Ernst and Young’s spent 15 years as a management consultant GLOBAL PROCESS SERVICES Dilesh joined Specsavers in 2010 to lead their advisory services practices, specialising in with KPMG and Ernst & Young, primarily Sandy has worked in the business processing shared service centre team to award winning financial and performance management. He specialising within the financial services sector. outsourcing industry since 1996. In that time he status. Prior to this he led other large teams in has over 17 years’ experience, focusing on back Gary is currently responsible for all of Aviva’s has led and delivered several multimillion dollar a variety of industries developing, office transformation, process design, BPO operations in India and Sri Lanka and has complex deals, with hands on experience in all implementing and transforming shared service including shared services and performance been at the forefront of the development of aspects of the SSC and BPO business. Sandy centre and outsourcing operations for Stella management, as well as project and Aviva’s strategy in this arena. Gary drove the has held various leadership roles including Travel Group, Premier Foods plc and held programme management. initial outsourcing plans across Aviva’s finance engagement and major deal leader and F&A various finance roles within National Grid plc. and actuarial team and is now responsible for practice leader, leader of the EMEA solutions all aspects of BPO including Insurance and offerings team, and European strategy and administration, finance, actuarial, procurement, market development leader. In 2013, Sandy MI and analytics. Gary has significant assumed responsibility for IBM’s global F&A experience in all aspects of outsourcing, and SCM practice and is a member of IBM’s offshoring and shared service development. global leadership team for global process services.

FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO 17 PETER MOLLER, PARTNER, DELOITTE SIMON NEWTON, DIRECTOR, SHARED ANIRVAN SEN, PARTNER, CHAZEY PARTNERS TIM SMAIL, DIRECTOR OF SHARED SERVICES CONSULTING SERVICES, G4S Anirvan has over 20 years experience in AND OUTSOURCING ADVISORY, KPMG UK Peter leads Deloitte’s shared services and BPO Simon is currently director of shared services at technology, LEAN six-sigma, talent Tim joined KPMG from TMF Group where he advisory team in Europe. Since 1990, he has G4S. Prior to this he led the operational management, shared services, IT and sales. established and ran the Global Shared Services worked in finance transformation, shared finance, procurement and personnel teams in Prior to his current role with Chazey Partners, organisation. With over 14 years’ experience services and outsourcing/offshoring advisory John Lewis’ business support service division. . Anirvan has spent 15 years in GE, running the working client side on multi-functional, roles, advising both private and public sector Previously he was responsible for Kimberly- quality organisation for GE’s EMEA operations cross-regional services, Tim has deep insight clients. He has organised and spoken at a Clark’s shared service development particularly of shared services, developing global delivery into both the strategic and practical challenges number of conferences on these topics and in North America and Europe Simon has a models for BPO vendors, initiating strategy for of creating a successful global business has been quoted in management journals and wealth of experience in M&A and has also shared services in the Middle East and Africa services platform. He has set up captive the national press. worked at ICI and Rowntree Mackintosh. He is region. Anirvan holds LEAN six-sigma master centres in China, Malaysia, India, Bulgaria and also currently a non-executive director of UK black belt and Bachelor of Engineering in Ukraine and negotiated and implemented Shared Business Services serving public sector instrumentation and control engineering. contracts with several business process organisations. outsourcing (BPO) suppliers.

JULIE SPILLANE, MANAGING DIRECTOR, ACCENTURE GLOBAL SERVICES Julie is managing director for Accenture Global Services, global director of finance excellence and the EMEA Accenture business services director. Julie is a member of the Institute of Directors and completed her diploma in corporate governance in 2010. She is also a Fellow of ACCA (FCCA). Julie graduated from National University of Ireland, Galway with a degree in electronic engineering, followed by a postgraduate diploma in business studies.

18 FINANCE TRANSFORMATION ROLES: PATHWAYS TO CFO

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