A Note To Self From The Future From A Soon To Be Business Partner

This is the newsletter "Here's the Future of FP&A and Business Partnering" which has more than 26,000 subscribers. You can subscribe as well to receive new articles straight in your inbox every Monday, most Tuesdays, and the occasional Saturday.

There is hardly anyone who lands a business partner role straight out of school. Usually, we tour through various jobs to gain experience and knowledge before we figure out the business partnering is our calling. This was definitely the case for me and clearly also the case for today’s profile in business partnering, Evgeniia Kochubei. 

However, even you do not start your career in a business partnering role there are many things you can do from the beginning that will increase your chances of landing a business partner role. That is also why I find it so important to share experiences from people who have made or are closing to making it to a business partner role. Evgeniia has many great points to share on that note and I am now going to turn it over to her… 

Another auditors journey to business partnering 

Please tell us about your career journey so far 

I have been in the corporate world for about eight years now. My career journey can be described as Financial Auditor -> Internal Audit Manager -> Head of Procedures Department -> Master Student and FP&A -> FP&A Controller. One could hardly name it a consistent journey. However, looking back today, I believe it was a fruitful path for developing the skills required for a financial business partnering (FBP) role. So let me tell you my story. 

My career started in 2012 when I joined KPMG as a Financial Auditor. In teams, I audited financial statements of multinational companies in retail, real estate, and transportation. Within that time, I developed analytical skills and gained strong financial knowledge that I still apply today. I was very in love with this job until I joined an operational consulting project. That project showed me a whole world hidden behind financial statements. I had limited knowledge of it, but it was intriguing to me. I moved to Internal Audit to explore business. 

I joined a newly established Internal Audit Department within Russia's largest electronic retailer. We were creating a function from scratch. What an exciting and valuable experience! I gained extensive experience in internal controls, corporate governance, risk management, and business process management. I mastered communication skills and learned the importance of building trust relationships with businesses.

Importantly, I stopped looking at things solely from the perspective of a Financial Auditor. I began to see the big picture. At some point, this work, though incredibly interesting and insightful, became meaningless to me. I felt I could create more value if I worked closer to business. I did not have a plan (advice: better to have one), but I desperately wanted to move forward. 

I headed the Procedures Department within a French multinational food retailer. I joined the company at the post-merger integration phase. My task was to assist in business process management. The shortlist of lessons learned. First, know the company strategy and align your activities with it to facilitate its execution. Second, hold the desire to show results straight away.

Instead, take your time to understand the company environment, business, management pains, and priorities. Third, no solution fits all. What worked in one business setting will not necessarily work in another one. So be open and customize solutions. Overall, this was the time to practice negotiation skills, conflict resolution, and decision-making. 

In 2019 I moved to Norway to get a master’s degree in Business at BI Norwegian Business School. I have chosen a major in Accounting and Business Controls and customized it with electives on Strategy, Supply Chain, Marketing, Economic Psychology. I was also lucky to complement my studies with an FP&A role. Together, they contributed to my confidence that an FBP is a next step in my career. I will soon be taking on a new position that combines FP&A and Controlling. I am very excited about this opportunity, and I hope to evolve this role into an FBP. 

You come from an audit background – please tell us how you see business partnering apply in such a setting? 

Business partnering is about achieving common goals and creating value. In my opinion, it applies in any setting, be it HR, IT, or Audit. The only difference, in my perspective, is the auditor's independence principle. It draws a bold line between business and audit and makes partnering difficult. However, the audit role is evolving with a focus on strategy and value-added activities beyond compliance services. 

What made you switch from audit into FP&A and business partnering? 

First, I believed I could bring more value to the business as an FBP. Second, I dreamed of rolling up my sleeves and working shoulder to shoulder with the business. Due to the auditor's independence, I did not feel this was possible. Third, I missed finances and FBP roles seemed like the right combination of both finances and operations. Overall, I think I was following my passions that have been developing along my career path. 

Could you describe in simple terms what business partnering means to you? 

To me, business partnering is about working together to achieve common goals and create value. It is a relationship built on trust, where both parties share risks and are jointly accountable for results, good or bad. It takes time and consistency to build such relationships. The first step towards them is aligning goals, understanding the business, and communicating effectively. 

What do you think it takes for an accountant to become a business partner? 

From my experience, first, to develop the big picture thinking and see issues from a business perspective. Second, consider business as a client and act accordingly. It means to listen and understand business needs, propose solutions that not only serve for compliance purposes but for business as well. Finally, be curious about business. 

What (if anything) would you have done differently on your journey knowing what you know today? 

Here are seven things I would advise myself at the beginning of my journey:

1. Do networking
2. Ask for advice
3. Develop communication skills
4. Be an active listener
5. Do not be afraid to ask “dumb” questions
6. Share your aspirations with people, also within the working environment. Believe me or not, but your supervisor might not know you want to become an FBP :)
7. Be patient. It takes time to build trust relationships and change people’s behavior (including oneself).

Do you have any final piece of advice for accountants wanting to become business partners? 

Read Anders' articles. Make a plan on how to become a business partner. Check that your daily activities make this plan come true. Good luck! 

What I wish I would have known! 

What a powerful list of tips from Evgeniia! I would definitely have loved to have known these points when I started my career. It is sought of a note to self from the future you to yourself that I wish anyone reading this article will pick up right away! While it is difficult to plan your career many years out into the future there are things you can always do like Evgeniia outlined, that will be rewarding for your career. 

What would you like to tell your past self to do differently for being more successful in your career today? How did you like Evgeniia’s points and would you be able to apply them today? Evgeniia’s story and career path is an inspirational one and one that many can follow. What career path are you following and what are you doing today to realize it?

If you like what you read and would like to make a voluntary donation to support my continued content creation you can use one of the below options. All content continues to be provided for free!

For international donations please transfer via PayPal here: PayPal.Me/liulindberg

For Danish donations please transfer via MobilePay on 876201

This was the fourth article in the series "Profiles in Business Partnering" and you can read previous articles in the series below. Together with the series "Becoming a Business Partner" there is a lot more content coming. Do not forget to subscribe to this newsletter to avoid missing a beat!

An Audit Officer's Journey Towards Becoming A Business Partner

One Accountants Untraditional Route Through The Business To Business Partnering

What This Accountant Learned From A Stint In The Business

How An FP&A Director Provided Line Of Sight To Millions

Here you can read previous articles in the series "Becoming a Business Partner".

The Accountants Journey Towards Becoming A Business Partner Unlocked

Your Career Path From Chartered Accountant To Business Partner Defined

Why Delivering Results Is A Key Priority For Would-Be Business Partners

The Resume That Will Surely Land You A Business Partner Role

The Cover Letter That Lands You The Business Partner Interview

What Senior Finance Leaders Look For In Business Partners

If you want to become a better business partner you should consider taking our online course "Business Partnering Explained - Value Creation Unlocked" to get a better handle on the role. It's accredited for 5.5 CPD hours.

You can read a lot more articles about FP&A, Business Partnering, and Finance Transformation below. It all start's with “Introducing The Finance Transformation Nine Box” where you set the ambition for your transformation. You should join the Finance Business Partner Forum which is part of the Business Partnering Institute's online community where we will continue to discuss this topic and you can click here to follow me on Twitter.

All Successful Business Partners Are "Leaders" (the last article in the series about our new capability model)

Should We Keep Talking About Business Partnering? (part of a 17-article series where we deep-dive on the WHY, WHAT, and HOW of business partnering by putting it on a formula)

Your Journey To Successful Business Partnering Explained

How To Create Value Through Business Partnering

Everyone Can Adopt A Business Partnering Mindset (part of a six-article series about FP&A Business Partnering)

From Business Partner To Working Within The Business (part of an article series where I interview finance professionals about their careers in FP&A and Business Partnering)

Is Your Product Optimized For Value Creation? (part of a toolbox series where we look at what tools FP&A professionals should leverage to drive value creation)

How Business Partners Turn Analysis To Insight (part of case study series where I interview business partners about how they drive value creation using real cases)

The Future Of FP&A: Two Ways To Take The Reins

What Is The Accounting Profession Paradox?

What Defines A Finance Master?

The New Career Path For Finance Professionals

How Finance People Can Be More Successful

The CFOs Roadmap To Transforming Finance

How To Become A Finance Business Partner

Financial Analyst vs. Finance Business Partner

Finance Business Partner Is A Bullshit Job

How Business Partners Keep A Plan On Track

Anders Liu-Lindberg is the co-founder, COO (Chief Operating Officer), and CMO (Chief Marketing Officer) at the Business Partnering Institute and owner of the largest group dedicated to Finance Business Partnering on LinkedIn with more than 9,000 members. I have ten years of experience as a business partner at the global transport and logistics company Maersk. I am the co-author of the book “Create Value as a Finance Business Partner” and a long-time Finance Blogger on LinkedIn with 50.000+ followers.