Finance leaders today face growing pressure to deliver more than numbers. Companies expect insights that help them plan, act, and grow. At the same time, finance teams must deal with new systems, shifting priorities, and tighter deadlines.
Taking on a new FP&A leadership role means stepping into these challenges while building trust, improving processes, and meeting high expectations. To succeed, leaders need clear goals, strong plans, and the right skills to guide their teams forward.
Gowthaman Balendra knows this challenge well. He is the Head of Financial Planning and Analysis at the Verian Group. After the company became an independent carve-out, he had to build the FP&A function from scratch. With over seven years leading FP&A teams at Reed Exhibitions and Sanderson, he brought valuable experience to the role.
In this article, we will explore key lessons from Gowthaman’s journey. We will learn how he built the function, tackled early challenges, strengthened trust, and led with skill in his new FP&A leadership role.
Key Lessons from Transitioning into a New FP&A Leadership Role
Starting a new FP&A leadership role comes with big challenges and chances to grow. The main goal is to face these with a clear plan and a strong mindset.
How the Writing Journey Began
Embracing the Challenge Early On
At Virayan Group, the business had recently become independent. There was no FP&A function yet. This meant building everything from the ground up. The biggest challenges were missing systems, unclear KPIs, and no set policies. Solving these needed both technical skill and leadership.
Drawing from Past Experience
Past roles helped shape a strong learning approach. Learning from skilled finance professionals, their wins and mistakes, played a big part. A personal strategy guided each step. It helped decide which skills to build, what to learn from others, and how to use them in new roles.
Building a Personal Strategy for Your New FP&A Leadership Role
Goals should not stay in your head. Writing them down helps clear your path. A full personal strategy includes:
- Career goals (like growing in FP&A)
- Health and wellness
- Personal values or faith
Each area forms a pillar. Set short- and long-term goals in each pillar. Review them often and adjust as needed.
Shifting from Manager to Head
Moving from Senior FP&A Manager to Head of FP&A shifts the focus. Now you lead the full function, not just support it. You need to plan, hire, and think ahead. Managing relationships with top leaders becomes key. Stakeholder management takes more time and care.
Adjusting to a PE-Backed Environment
A private equity-backed company adds pressure and speed. The focus is sharp on EBITDA, cash flow, and forecasts. You must learn fast and manage high expectations. Knowing your stakeholders helps you meet their needs and handle their questions well.
First 90 Days in Your New FP&A Leadership Role
The first 90 days in an FP&A leadership role are critical. The focus should be on learning the function, setting priorities, and building trust.
Use the Input-Process-Output Approach
Start by understanding how things work. Look at what data comes in, how it is handled, and what outputs go out. This simple input-process-output approach helps you see where things stand.
Before making changes, check if FP&A adds value or needs improvement. Look for quick wins by spotting tasks that can be automated. Always ask for feedback to make sure the outputs meet what others need.
Set Three Clear Priorities in Your New FP&A Leadership Role
- Build a Clear Strategy: Write a plan showing where you want to go. This plan keeps you focused when pressure builds. Review and adjust it as needed.
- Find Automation Opportunities: Many teams spend too much time fixing data or doing manual work. Find ways to automate early. This saves time and lets the team focus on bigger goals.
- Strengthen Financial Reporting: Make sure FP&A reports match what other finance teams share. A single source of truth builds trust and avoids confusion.
Assess People and Processes
Check if the right people are in the right roles. Set clear goals and ways to measure their success. Do the same for key processes: measure improvements and track results with simple KPIs.
Deliver Quick Wins
Talk to business leaders to understand what they need. Improve reports so they meet those needs fast. Also, fix data problems at the source. Clean data gives better results and builds trust early. This strong start helps you lead with confidence.
Building Strong Processes in Your New FP&A Leadership Role
Leading FP&A means improving both systems and working closely with others. A clear plan and steady actions help make this happen.
Spend Time Where the Work Happens
Set a Clear Roadmap
Start by knowing what process you want in place. Even if you cannot get it right away, you need a plan. Sometimes, you must wait for budget approval or system upgrades. While waiting, find ways to make small improvements.
You can:
- Use tools like Python to speed up Excel tasks
- Adjust current files to save time
- Improve reports step by step
These small steps help ease daily work and show progress.
Focus on Small, Steady Wins
You do not need big changes right away. Instead, improve little by little. Each small win builds trust and shows that you care about results. Over time, these small fixes add up and make a big difference.
Build Strong Relationships
Strong ties with the C-suite and other leaders matter. Start by learning what each leader does and what they care about. Each person has a different style. Take time to understand both their role and their way of working.
At the same time, know yourself. Understand your strengths and how you share ideas. If numbers are your strength, use them to build trust. Strong partnerships come from knowing others and knowing yourself.
Become a True Business Partner in Your New FP&A Leadership Role
FP&A should be more than reporting numbers. Use data to tell the story behind the results. Show why things happened and what they mean for the future. Connect reports to business goals.
Technology plays an important role. Use tools that improve speed, accuracy, and insights. When you pair strong systems with clear insights, you help guide better decisions.
How to Build a Strong FP&A Function in Your New FP&A Leadership Role
Building a strong FP&A function starts with using data wisely. You need to know where data comes from, how clean it is, and how to turn it into useful insights. This means checking every source, from systems to manual inputs, and making sure they align.
Focus on Data Health
To create a data-driven team:
- Understand every data source.
- Check data quality and fix weak points.
- Clean the data before using it for reports.
Only good data leads to smart decisions. This is where FP&A teams add real value.
Future of FP&A
The future of FP&A is not just about tools. It is about using smart systems that help clean, check, and report data faster. These systems can support leaders at any time, help model changes quickly, and reduce errors.
Also, shift from static budgets to rolling forecasts. This lets you update plans as things change inside or outside the business. That flexibility keeps the company ready.
Be the Source of Truth in Your New FP&A Leadership Role
FP&A must earn trust across the company. Your reports should be clear and reliable. If teams see different numbers, trust breaks. FP&A should be the one trusted source for the right numbers.
Key Skills for New Professionals
To grow in FP&A:
- Build strong knowledge of finance and accounting.
- Learn how to tell the story behind the numbers.
- Go beyond Excel—explore better tools to work faster.
- Understand the company’s strategy and how you can help.
- Get comfortable using software and tools to improve your speed.
Most of all, plan your career as part of your life plan. This helps you grow with clear goals and direction.
Conclusion
Starting a new FP&A leadership role brings both challenges and chances to grow. It takes clear goals, steady focus, and strong actions. Writing down your goals helps guide your path and keeps you on track.
Small wins, like fixing data issues or improving reports, help you build trust early. These small steps show progress and help others see your impact. Moreover, leading FP&A means focusing on both systems and people.
You need clean data, clear reports, and good decision-making processes. At the same time, you must build strong ties with leaders and teams. Knowing what each leader needs helps you serve them better and strengthen those ties.
The role is more than just sharing numbers. You must explain the numbers and how they link to business goals. With the right tools, you can give faster insights and help leaders make better choices. Shifting to rolling forecasts also keeps the business ready for change.
That said, a new FP&A leadership role gives you a chance to build a trusted, forward-looking function. By staying focused, improving bit by bit, and building strong partnerships, you can lead with skill and confidence.
FAQs
What skills help prepare for a new FP&A leadership role?
Strong communication, decision-making, and problem-solving skills help. You also need to stay calm under pressure.
How can I balance short-term and long-term goals in a new FP&A leadership role?
Write both types of goals. Review them often and adjust based on business needs and changes.
How do I manage work stress in a new FP&A leadership role?
Set clear priorities each day. Take short breaks. Find healthy ways to unwind after work.
What tools are useful in a new FP&A leadership role?
Tools like Power BI, Tableau, or Python can improve reports and save time by automating tasks.
How do I earn trust as a leader in a new FP&A leadership role?
Be honest, deliver on promises, and listen to others. Clear communication also builds trust.
