When Numbers Aren’t Enough
An Interview with the Finance & Accounts Chief of OOCLL
Dr Paul Mok is an FCCA and the General Manager, Finance & Accounts for Orient Overseas Container Line Ltd (OOCLL). In this article from Michael Page on career development, he explains why technical proficiency will only take you so far. To make it to the top of the finance profession, you need to develop your soft skills and a commercial understanding of the business model you support. Greatest learning experience: One of my most valuable learning experiences resulted from an opportunity to manage a non-finance department within OOCLL. I was fortunate to hold the position of General Manager, Personnel and Administration for a year. It exposed me to a different side of the business and I learnt new skills because of it. While this sort of opportunity is rare, learning about the various business functions is something you can do right now, in your current finance position. Take the time to talk to people from all areas of the business and understand their challenges and objectives. If you have this broader perspective you are far better placed to offer valuable advice and progress your career. Challenges in managing a global accounting function: There is a fine balance between empowerment on the local level and control from a centralized perspective. High level strategic and policy matters are determined in Hong Kong, and it is my responsibility to ensure these are adhered to in our offices around the world. Open communication is central to achieving this. I regularly consult 22 News Update Summer 2007
career column
the opinion of my regional finance reports to determine priorities, addressing local issues while ensuring a consistent direction is being followed globally. The regional finance heads have the authority and resources to implement and execute global initiatives on a regional basis. They are respected as the experts in the cultural and regulatory requirements of their region and given the authority to act accordingly. On a technical and procedural level, global consistency is achieved through a model accounts office concept. Within the model, all accounting processes, policies and procedures, right down to the level of the accounting forms, are standardised. They are the same around the world and this helps to facilitate a consistent accounting function. Challenges for the accounting profession: I think the single biggest challenge in Hong Kong is the quality of both written and verbal language skills. The technical side of the profession is very strong, but more needs to be done to ensure the younger professionals coming through are fluent in both Chinese and English. In today’s global business environment it is absolutely critical, particularly if you want to work in a multinational corporation. Understanding the numbers is only the first step. You need to communicate that information, whether verbally or through written reports and commentary. If your communication skills are lacking it will lessen your chances to progress to the
senior level. You need to be able to offer the complete package. Critical success factors for finance professionals: I think there are three areas young accountants need to focus on if they are to succeed over the long term: the right skills, mindset and a healthy work-life balance. By the right skills, I’m talking about soft skills rather than technical knowledge. Technical understanding is important in the early stages of your career, but beyond that you need additional proficiencies to differentiate yourself. Your interpersonal skills, communication skills and business acumen become more important as your career progresses. In terms of mindset, you need to put in the hours when required and make sure your values are aligned with that of your employer. Accountants sometimes feel they do not need to buy into the broad company vision and guiding principles because their role is technical and objective. This may have an element of truth, but if you want to progress to the senior management level you need to live the vision and align your values. The final point has to do with the balance between work and life outside work. I’m a strong believer that to reach your full potential you should lead a balanced life in which you pursue interests outside the office. Interview and article by Jason Hemens Michael Page International