The times we live in require the constant development of different skills to adjust to the challenges of an uncertain environment. The same applies to FP&A teams. We must be multi-skilled to overcome rising challenges. That is why the 27 senior finance professionals gathered in Seattle FP&A Board to discuss the five crucial FP&A team roles and the most important principles of building the best-in-class finance teams.
Figure 1: The Members of the Seattle FP&A Board
Employees of such companies as Google, Microsoft, Amazon, The Boeing Company, T-Mobile, Cushman & Wakefield joined the meeting on March 9th.
The agenda of this event included the following:
- Skills for the future: building the best-in-class FP&A team
- Five essential FP&A Team Roles
- Small groups work
- Conclusions and recommendations
New Emerging Roles for Building the Best-in-Class FP&A Team
Figure 2
Traditionally, FP&A teams have consisted of analysts. Today, we see five roles required to meet the demands of the business and the wider environment.
Figure 3
There are signs of the emergence of two more roles that significantly expand FP&A's overall capabilities and impact.
Figure 4: Group Work During the Meeting
Larysa Melnychuk, the discussion facilitator, delivered excellent input to the forum regarding the subject. Then the attendees divided into three groups to discuss the following aspects of building effective FP&A teams:
- Leadership
- Functional Skills
- Business Partnering
The session ended with networking, where the participants could discuss the crucial FP&A Team roles and communicate with fellow professionals.
Figure 5: The Participants Enjoyed Networking After the Seattle FP&A Board
We are grateful to SAP for sponsoring this meeting. Thank you, Seattle Search Group and IWG, for your help with the organisation of this event.
