Vice president of finance, Material Handling Systems Inc.
Years in current position: Two
Years in financial industry: 19
What’s one simple thing most companies can do to improve their financial position?Quickly reacting to changes against the plan. Budgets are static, outdated the day they are released. Having a core understanding of performance drivers, risks and opportunities around those drivers and being able to quickly react to changes in plan are critical. When unplanned opportunities present themselves, additional investments may be required to capitalize. Unforeseen risks may result in adjustments to planned growth or investments. Timely adjustments to plan will have the most significant impact to the company’s financial position.
What is the greatest challenge you face as a financial executive? Understanding that it is OK to be a jack-of-all-trades but master of none. It is very easy to be laser-focused on a particular project or task to provide results that are 110 percent. This often results in losing focus to the bigger picture, and while that one task is 110 percent the risk of failing on other core responsibilities could have a much larger impact to the overall business.