West Indies Project #3 Natasha Farah

Meet the Up and Comer and Former Accountant aspiring in the area of Financial Technology (FinTech)

But wait, what exactly is FinTech?

Well, the term ‘financial technology’ can apply to any innovation in how people transact business, and within the last few years, the demand for this has grown exponentially. Many fintech products are pretty much designed to connect consumers' finances with technology for ease but the term also applies to business-to-business (B2B) technologies. While the West Indies hasn’t exactly been known for advancements in FinTech at the moment, the central government has made a major move this year introducing tax benefits/allowances to FinTech start-ups and initiatives.

We’ll get to know how this and Natasha is related in a moment. Natasha has approximately 19 years’ overall experience in the finance industry, and has specialised in general ledger and process improvements, designing global accounts and implementing finance system automation requirements. Outside of the corporate environment, Natasha has provided mathematics and accounting lessons to students ranging from primary to tertiary level. She has also provided accounting services, business advice and planning in the hospitality and services industries. It doesn’t end there, Natasha has also been known for her collaborative projects throughout the country in promoting entrepreneurship for the growth and development of small business owners in Trinidad and Tobago.

Personally, I have also known Natasha for about 10 years and when I hear the words irreplaceable and relentless, I think of her.

Aliyyah: Thanks for agreeing to do this Natasha. Tell me more about you and how has Covid19 impacted your current way of life?

Natasha: Well I am from a small family of five and I am the caregiver for both my mother and sister who has been diagnosed with separate disabilities which was and still is very challenging. Working from home and taking care of my family, after my father passed four years ago has also been a challenge. Going through this and in seeing my mother and sister has only inspired me to want to raise awareness even more on the topic of mental health one day.

With respect to my career, it began in accounting and after about ten years in the same organisation and wanting to expand my industry experience, I applied and received a senior accounting role in the telecommunications industry.

Right now, in my current employment, as Senior Finance Analyst, I’m responsible for group finance system implementations and testing on system feasibility as well as consolidated reporting.

Aliyyah: In your own words, how can finance professionals make themselves more marketable?

Natasha: Firstly, to not view yourself as a finance professional only. I have always maintained thinking outside of the status quo and viewing myself as an adaptive business professional that can add value not only in the finance field but in other aspects of the business. Secondly, looking for growth opportunities or additional projects within and outside the organisation to enhance your skills and align them to your personal career goals. Being adaptive, assertive, clear and precise in your communication, proper planning and having an analytical eye and critical mind are some of the skills required to stand out from the crowd.

Aliyyah: Can you share with us one story from your career thus far?

Natasha: When I became responsible for the portfolio of accounts payables in 2011, it used to close by 2 days after month end, data entry errors were very high but not easily noticed as reviews were split amongst 6 different accountants. What me and my team member, or my assistant accountant was able to do is reduce accounts payable month end close by 6 working days. This in turn resulted in an improvement in the review process. We retrained the entire team from minor aspects to major aspects. Everything was revamped and we achieved a close off by the 25th working day within the month.

We all go through month end but the benefits of this was simplicity, less chaos, staff knowing what’s expected and speed. In this particular scenario, re looking the root cause and process were enough to gain back crucial time during the month end close. The solution did not reside in jumping quickly to the use of technology to improve the process.

Aliyyah: I remember this experience quite well when I was an accountant and looking back now in 2011, it felt seemingly odd that an activity that many ACCA’s and CPAs spend a big chunk of their lives on – the month-end close process – isn’t really explained in accounting courses. Good thing there are more options to automate now.

Aliyyah: Let’s talk about FinTech and the direction in which our country is heading over the next few years. What inspired you in this field?

Natasha: In my previous role, I have converted manual processes into automated or semi-automated systems. Each scenario throughout the process had a level of resistance by some users. In one particular case, I designed reports out of our system to cut 1 1/2 days of time off where there were manual updates of files.

My vision with respect to the way fintech is heading in the country is to find a way to be a part of the revolution of how businesses can develop their strategies even further. Whether it’s in robo-advising, blockchain or even in closing gaps, the important thing is really to maximise the potential of these firms using adaptive technology.

Aliyyah: Love it. I always say if you’re developing something or a part of something, you have to think in terms of global competition because it’s no longer sufficient or sustainable to look at local markets instead so I’m sure we will be hearing more about it When I also look at what you’re juggling now, I see that it involves quite a bit of resilience. How have you built this trait up?

Natasha: Earlier in my career I took pride in continuously pushing and not giving up when faced with a particular problem; that failure is never an option. A few examples would include budgeting deadlines, training a difficult employee, handling a project delay or employee resistance to a new process. Resilience is about pushing yourself until you solve an issue. My thinking used to be quite narrow until I learnt to take a break, step away from a problem, discuss with a fellow colleague and then come back at it. In the world today and even with the disease being experienced globally, I understand and appreciate now that it’s all about balance and failure is all about learning and growing. In attempting to juggle working from home and being a primary caregiver, time management is key. You must also be flexible to cater for the unexpected challenges that may arise and not to be hard on yourself if something does not go according to plan. I am sure many people can relate with their own individual situations. I think being resilient is being aware of when you need to take a step back, evaluate and then push forward.

Aliyyah: What advice would you give to your younger self?

Natasha: To be more of a risk taker.

Aliyyah: How are you managing stress?

Natasha: I go outdoors, I take sunshine in and it changes my mood. I love connecting with nature. Taking care of myself is imperative as well as getting sufficient amounts of sleep. I love to walk my dog and I have a lovely view from the valley. With remote working in full swing, I get to appreciate this more than I used to.

Aliyyah: And finally I have to ask, how has your journey been as a leader?

Natasha: Difficult actually, each individual is driven by different motivators so there is no one stop solution. In my first job, I was internally promoted and some of my peers were also in my social circle. It took some time to even be respected as a supervisor. What has worked for me is understanding each person’s personality. I am a firm believer of impacting knowledge to the best of your ability and this has helped me obtain the buy-in, respect and credibility of all my employees. Also knowing that you are the leader and giving credit to the work of your team helps. I believe we must understand that their quality is our quality so I have always given the extra to ensure my team’s overall quality is top standard and not compromised.

Aliyyah: Thanks for joining us Natasha!

A little bit about this initiative ~ I've often been asked, Why am I running the West Indies Project?

Because the finance industry is huge. The West Indies region has also been described by some for its enormous capacity and world class talent yet we're barely on the Linkedin platform and we've hardly been vocal about our talents when compared to other regions. I'm on this quest, not to focus on white sandy beaches, rainforest hikes and cricket but to show what finance really means to us and what we're doing.

Its a safe place to showcase those who aren't even on the LinkedIn platform yet or have only recently joined. I hope to give those persons a much needed voice to inspire and empower us all.

Its a relatively new feature but check out the previous West Indies articles below: