Skip to main content
Home
The Online Resource for Modern FP&A Professionals
Please register to receive the latest FP&A news, updates and tips Login

Main menu

  • Home
  • FP&A Insights
    • Contributors
    • FP&A Trends Digest
    • FP&A Talks Series
    • FP&A Trends Research
  • FP&A Board
    • Amsterdam
    • Boston
    • Brisbane
    • Brussels
    • Chicago
    • Copenhagen
    • Dubai
    • Frankfurt
    • Geneva
    • Hong Kong
    • Houston
    • Kuala Lumpur
    • London Board
    • London Circle
    • Melbourne
    • New York
    • Paris
    • Perth
    • San Francisco
    • Seattle
    • Shanghai
    • Singapore
    • Stockholm
    • Sydney
    • Tokyo
    • Toronto
    • Washington D.C.
    • Zurich
  • AI/ML Committee
    • Introduction
    • Meetings
    • Members
    • Resources
  • Video Content
    • Digital FP&A Boards
    • FP&A Webinars
    • Short Videos
  • Contact Us
  • About Us
    • Ambassadors
    • Privacy Policy
    • Company Policy
    • Editorial Guidelines
    • Our Sponsors & Partners
2022 global CPM trend report

2022 global CPM trend report

Click here to view details and register

 

The Pedigree of a Successful FP&A Professional
New
November 12, 2019

By Carl Seidman, Principal, Seidman Global LLC

FP&A Tags
FP&A Skills
What is FP&A

FP&A is quickly becoming one of the most important fields within corporate finance.  The ability to manage working capital, stimulate growth, collaborate across functional groups, steer toward opportunities and away from substantial risk all falls within the wheelhouse of the FP&A professional.  How does someone not currently in FP&A enter the field?  How does someone already in FP&A succeed in their role and ensure they're at the forefront of the function's evolution?  This article will explain.

Financial planning & analysis, or more commonly referred to as FP&A, is a business discipline focused on financial management and strategic alignment.  To put it more simply, if a CFO’s position were broken down into its many parts and those parts were translated into separate job descriptions, most of those jobs would be in FP&A.  
 
It may surprise many that modern finance, as we know it today, has been around for less than a century. Further, the ways in which companies manage their finances and planning have been exercised for less than a decade. Bring computing and big data in the equation, and today’s finance has been practiced for just a handful of years. Because of the rapid change taking place in corporate finance, the management of the function is evolving as quickly as ever. There has never been a more urgent need for financial planning & analysis and never a better time for career advancement in finance than there is now.
 
The pedigree of a successful FP&A professional may look different than that of a traditional accountant or financial analyst. While many of the building blocks of talent are the same, the application of that talent is wildly different.
 

  • Excellent accounting skills – Despite the evolution of the accounting function away from traditional and mechanical tasks toward strategic and analytical ones, the importance of accounting expertise should not be discounted. CPAs are likely to look more like FP&A professionals than traditional accountants. That being said, those working within FP&A will benefit tremendously from a fundamental understanding of accounting.
  • Critical-thinking ability – The foundation of double-entry accounting ascertains that there are right and wrong answers. The accounting profession is protected by this objective black and white. However, the ideal FP&A candidate must be comfortable with ambiguity and knowing that much of the field is layered with shades of gray. Often there are many good answers and it’s up to the FP&A professional to understand the assumptions, analyze the possible outcomes, and assess the risks attributed to each. This is a different way of thinking than what traditional accountants grow up with and it’s a critical characteristic of FP&A.
  • Effective communication – FP&A professionals must be able to take the complex and make it extraordinarily simple. This is where the function must truly set itself apart from all others and will find much of its value. Non-financial professionals may struggle to understand the quantitative assumptions behind a decision, while financial professionals may struggle to translate quantitative assumptions into easy-to-understand terms. The FP&A professionals who can effectively exercise both talents will be indispensable members of their teams. Effective communication comes in many different forms – an ability to clearly write, influentially speak, and cleanly display visuals to translate information.
  • Emotionally intelligent and conciliatory – FP&A is like the financial heartbeat of organizations.  Information flows to FP&A from other functional group while financial intelligence and decision support flows from FP&A to other functional groups. Being in this unique position, FP&A has the responsibility for understanding and relating to others across the entire organization in a way most other function do not.  As such, FP&A needs to possess emotional intelligence in the form of empathy, diplomacy, and tact to work effectively with professionals from every group.

 
At the beginning of an FP&A career, development of technical skills should take priority as a means of transforming the organization from the numbers. At the time, the value of interpersonal skills shouldn’t be discounted. As FP&A professionals’ careers evolve, they’ll be likely to discover a greater focus on leadership skills and influence and less importance on technical skills. It isn’t that technical skills are no longer relevant – quite the opposite. It’s that the role of an experienced FP&A manager or director is to analyze decisions, make decisions, and develop more junior staff. That said, interpersonal skills become even more important the more senior the FP&A professional becomes. In summary, there are few positions that require such a mix between technical and soft-skills and can have such a tremendous impact on the decision-making in an organization. FP&A is an exciting career choice and the future of the profession is extremely bright.

The article was first published in Unit 4 Prevero Blog

The full text is available for registered users. Please register to view the rest of the article.
  • Log In
  • or
  • Register

Related articles

Ability to Learn, Unlearn and Relearn - Do You Need This to Be Successful in FP&A?
June 4, 2019

As financial professionals we Financial Planning and Analysis (FP&A) professionals spend a lot of timing learning...

Read more
4 Steps to Becoming a More Valued FP&A Professional
October 17, 2018

Within any organisation you’ll find some groups of people who are the most well-known and highly...

Read more
The Career Path of an FP&A Professional: From Accountant to Business Partner
October 8, 2019

Most professionals working in the FP&A discipline have degrees in finance or accounting and previously worked as...

Read more
Creating a Professional Career Portfolio: A Step Toward Your Dream Job
September 24, 2019

Professional portfolios have always been the expected norm for creative, visual occupations, everything from computer-aided design...

Read more
+

Subscribe to
FP&A Trends Digest

We will regularly update you on the latest trends and developments in FP&A. Take the opportunity to have articles written by finance thought leaders delivered directly to your inbox; watch compelling webinars; connect with like-minded professionals; and become a part of our global community.

Create new account

Maximizing FP&A Value Through Automation

The FP&A Trends Webinar: Maximizing FP&A Value Through Automation

Click here to view details and register

Pagination

  • ‹‹ Previous
  • May 2022
  • Next ››
Su Mo Tu We Th Fr Sa
1
2
3
4
5
6
7
8
9
10
11
12
13
14
Reinventing FP&A: Key Lessons Learned from the Pandemic
 
Cash Flow Planning - Why the Traditional Profit-Driven Mindset Needs to Be Rethought
 
Reinventing FP&A: Key Lessons Learned from the Pandemic
 
From Traditional to Better and Beyond Budgeting
 
15
16
17
18
19
20
21
Digital FP&A in Practice: Dorrington Plc Case Study
 
22
23
24
25
26
27
28
Reinventing FP&A: Key Lessons Learned from the Pandemic
 
Top Five FP&A Challenges and How to Address Them
 
Maximising Value Creation with FP&A Business Partnering
 
Reinventing FP&A: Key Lessons Learned from the Pandemic
 
29
30
31
1
2
3
4
 
 
 
 
All events for the year

Future Meetings

houston
The Face-to-Face Houston FP&A Board Reinventing FP&A: Key Lessons Learned from the Pandemic
June 2, 2022
Maximising Value Creation with FP&A Business Partnering
The Digital Middle Eastern FP&A Circle Maximising Value Creation with FP&A Business Partnering
June 6, 2022
chicago-june
The Face-to-Face Chicago FP&A Board Reinventing FP&A: Key Lessons Learned from the Pandemic
June 7, 2022
Frankfurt
The Face-to-Face Frankfurt FP&A Board Reinventing FP&A: Key Lessons Learned from the Pandemic
June 9, 2022
Toronto
The Face-to-Face Toronto FP&A Board Reinventing FP&A: Key Lessons Learned from the Pandemic
June 9, 2022
dc
The Face-to-Face Washington D.C. FP&A Board Reinventing FP&A: Key Lessons Learned from the Pandemic
June 14, 2022
New York
The Face-to-Face New York FP&A Board Reinventing FP&A: Key Lessons Learned from the Pandemic
June 15, 2022
Reinventing FP&A: Key Lessons Learned from the Pandemic
The Face-to-Face Boston FP&A Board Reinventing FP&A: Key Lessons Learned from the Pandemic
June 21, 2022
The FP&A Trends Webinar
The FP&A Trends Webinar Maximizing FP&A Value Through Automation
June 22, 2022
Agile FP&AAI/ML FP&ABeyond BudgetingBusiness Intelligence (BI)Capital PlanningCash PlanningCollaborative FP&ACorporate Performance Management (CPM)Cost PlanningData-Driven FP&AData VisualisationDigital FP&ADriver Based PlanningExtended Planning & Analysis (xP&A)Financial Planning and AnalysisForecasting QualityFP&A AnalyticsFP&A Business EnvironmentFP&A Business PartneringFP&A Case StudiesFP&A DashboardsFP&A KPIFP&A Maturity ModelsFP&A PeopleFP&A Predictive AnalyticsFP&A RPAFP&A Scenario PlanningFP&A SkillsFP&A StorytellingFP&A Strategic PlanningFP&A Team BuildingFP&A TechnologyFP&A TransformationFP&A Trends ResearchIntegrated FP&AModelling and ForecastingPlanning and BudgetingProfitability AnalysisRisk-Adjusted PlanningRolling ForecastWhat is FP&AZero-Based Budgeting (ZBB)

Please register to receive the latest FP&A news, updates and tips.

info@fpa-trends.com​

              

Foot menu

  • FP&A Insights
  • FP&A Board
  • FP&A Videos

Footer countries

  • Amsterdam
  • Boston
  • Brisbane
  • Brussels
  • Chicago
  • Copenhagen
  • Dubai
  • Frankfurt
  • Geneva
  • Hong Kong
  • Houston
  • Kuala Lumpur
  • London Board
  • London(Circle)
  • Melbourne
  • New-York
  • Paris
  • Perth
  • San Francisco
  • Seattle
  • Shanghai
  • Singapore
  • Stockholm
  • Sydney
  • Tokyo
  • Toronto
  • Washington D.C.
  • Zurich

Copyright © 2022 fpa-trends.com. All rights reserved.

0