In this interview, Andrew Thomson discusses his journey towards becoming a Financial Controller at Phenna Group, sharing the key career decisions, qualifications and skills that have shaped his progression in finance so far.

‍Talk me through your career journey to date - what were the key moves or decisions that got you here?

• After seeing a postage stamp sized advertisement in the local newspaper for an Accountancy Apprenticeship, I took my first step into the Accounting world and onto path of Accountancy exams.
• My first key decision was focusing my early career working in Accountancy Practices. I felt it would be valuable being exposed to a variety of businesses, and I spent my formative years navigating incomplete records, manual ledgers and “carrier bag jobs” (if you know you know). This proved integral to my understanding of how business transactions translate into Financial Statements. This feels like a different world when considering the growing ERP / BI / AI landscape.
• The next key move would be Business Partnering in a Listed Consultancy Firm. These years helped to refine my communication skills with Finance and Non-Finance colleagues alike. A key learn from this role was the importance of adding value. Whether this be shaving 30 minutes off a month end process, the value of incremental improvements should not be underestimated and was very much encouraged.
• The next key decision would be to move into my current role. I was extremely keen for the opportunity as it provided a lot of exposure into the world of M&A while developing my Accounting and Interpersonal skills, as I continue my journey to becoming a Financial Controller.
• It is impossible to talk about my career to date without the dreaded ‘Exam’ word! The decision to study toward a professional qualification is a key step for an Accounting Professional, and the technical and ethical skills acquired from both Accounting Bodies have proved invaluable to my career.

What qualification did you choose and why?

• I chose to study towards the ACCA and AAT Qualifications.
• Both awarding bodies pride themselves in upholding professional ethics and provided a solid breadth of technical learning, from Tax, to Audit, to Financial Management. As an early career professional at the time, I felt it important to study a range of subject areas so I could make a more informed decision in later years as to whether I specialise or not.
• In addition to the above-mentioned reasons, ACCA also provided a level of study flexibility that allowed me to complete exams at my own pace. This provided crucial with having young children at home.

What technical skills have been most important in getting you to FC level?

• Developing a broad range of technical understanding and having a strong mentor is what I have found to have helped my progression more than anything else.
• The role of a Financial Controller is to minimise business risk and maximise business opportunity by establishing, maintaining and promoting a culture of adequate procedure and control. This must be balanced with managing key stakeholder expectations.
• If I had to pick the most important technical skill, it would be the understanding of correct Statutory Reporting and any Audit or Tax Risk associated with non-compliance.

Beyond the technical side, what soft skills have made the biggest difference?

• ‍‍Developing the ability to communicate with colleagues of varying seniority and expertise, appreciating not all stakeholders have the same objectives as yourself, and tailoring your communication to cater for this.
• Establishing the connection between Operational Decisions and the downstream financial effect that will have. A path that may have Operational benefits could lead to adverse financial implications and you must be able to articulate this to colleagues with non-financial expertise.