Archive for multinational finance management

Multinational Glitches in the Implementation of GDPR

Admit it, you have done this at least once: you were lured by the special offer / freebie / like into signing up for a newsletter… then you forgot about it. Or you installed an IOS/Android/Windows app which asked you for permissions to share with the Martians your accurate location, food prefferences or place of birth.
The personal data requests have become so ubiquitous, that now it is very hard to trace where it lands. It is then perfectly understandable why EU is seeking to make the various companies responsible for minimal safeguards of such personal data.
If you read the law (or the highlights), you would realize most of the requestgs are quite reasonable – and still theoretical. Fortunately for the consumer (and burdening for the companies), the burden of safeguarding and cleaning up the unnecessary data falls on the collectors. Continue reading “Multinational Glitches in the Implementation of GDPR” »

The World is Full of Noise

Let’s face it – almost all of us succumbed to this temptation: we could do the toughest, most important task or we could break all of them into pieces (“eating the elephant” as the management gurus say) and start chewing them. Or just give in to the boss’ latest request and answer his (sometimes lazy) easy to dig emails.
In this world of digital enrichment, our human brains are spectacularly assisted and enabled to do so the work. Simple exercise: close your eyes and try to imagine how long and how many people you would need to achieve what you now manage in a working day… without laptops, internet and corporate cloud software solutions. Hmmm… not too much, right? Continue reading “The World is Full of Noise” »

How To Kick-Start Your Multi-Country Finance Management Career

wpid-IMAG2654.jpg You are a good country finance director or head of finance. You have a stable department, the knowledge of the local systems and legislations, and you have been very successful in this role for quite a while. Your multinational company is very happy with your financial directorship – the operating income flows are steady, your reporting is on time, subordinates act professionally and are satisfied with their jobs. And then you wonder – what is next for me? How can I do more? What is coming next in my career in multinational finance management?
You of course know the answer: the next natural career step is to take on a role in multi-country financial management. The usual path leads to a cluster or regional controller (or finance director) role. You should be heppy with that, since it gives you the chance to expand your financial management skills at multi-country level, as well as to embark on a path of multic-cultural and complex corporate finance learning.
There are also lots of questions – and the successful country finance directors are usually unsettled by them:

a) What does the new role require from me in terms of skills, experience, interactions?
b) How do I cope with the new role and the pressures associated?
c) How do I manage not one, but multiple legal entities/countries – whilst keeping the same success levels as in the past?
d) When do I start and where do I stop? etc

It is hard to answer all these questions in a short blog post such as this one, however – I will give you here some practical (and theory based) insights on how you can become a successful regional finance manager/director quickly and with little associated stress: Continue reading “How To Kick-Start Your Multi-Country Finance Management Career” »

What Is The Perfect Profile Of A Central East And East Europe CFO?

Recently I was browsing a few articles on the CFO job in Central East and East Europe. Actually quite interesting readings, even if you are not a boring finance professional trying to make his/her way to the top. Whilst reading them, I had two major surprises:
– The articles on the topic were few and far in between, and quite old (we are in 2014, they were from 2007-2010, when probably the enthusiasm and the PR needed to recruit high-caliber professionals for CFO jobs were substantially higher);
– Surprise to surprise – despite their aging, the CFO blogs had some interesting insights which are still valid so far.
What were the key findings of these headhunter blogs related to the ideal CFO?:
– CFO’s in CEE need to have superior technical finance knowledge, especially related to the complexity of accounting standards, fiscal requirements, M&A’s and financial analysis (the Western Europe CFO’s who deal with much fewer and more developed countries need paradoxically less of such technical skills);
– Communication skills are highly priced in CEE for the senior financial leaders of the companies; Continue reading “What Is The Perfect Profile Of A Central East And East Europe CFO?” »

Interviewing for Finance Jobs

IMG_6499One of the problems some of the CFOs have in their careers periodically is that it is stalling. Then, naturally, you have to do something. As a consequence, they go interviewing. Or maybe (more probably) they are on the other side of the desk and are looking for somebody. Again, they go…well…interviewing, right?
Well, the recruitment companies are full of advice of how to go for a finance interview. Guess what – most of it is useless, since if you are a finance professional you will already know most of the interviewing questions, techniques etc.
Maybe some of the more practical advices below could help you be more successful when you interview for a finance top job:
1. Go for your level of job. Maybe slightly aove it, but not too much, or you will risk flying too high and disappoint yourself. Continue reading “Interviewing for Finance Jobs” »

Managing Corporate Finance in Multinationals as a CFO – 1

When I started my financial manager career several good years ago (almost 15), I entered the ranks of the commercial finance professionals very idealistically. I thought:
a) everything is according to the books or even better
b) there is no room for politics or hazard in decision making and
c) I will change the world, even in a small way. Continue reading “Managing Corporate Finance in Multinationals as a CFO – 1” »