As a graduate student in International Economics at the University of Denver Graduate School of International Studies, I had a particular professor of Economics who was very well regarded by academia and was beloved by his students. I recall one lecture where he read a poem. I recall that moment because I thought at the time, “What on earth is going on here? This is international economics. We are a capitalist society. Why is my professor reading me poetry about the ethical aspects of finance and economics?”
Back then, the discussion was likely around the distribution of wealth and the lively debate that that tends to generate – particularly among graduate students. Little did I know that as I pursued a career in the private sector, I would confront ethical responsibilities time and time again. My professor’s poetry reading instead of being irrelevant turned out to be prophetic.
The primary responsibility of an FP&A person, at any level, is to provide clarity of financial information not just for telling a story to Wall Street or the Board of Directors, but to assist leaders in making great decisions about driving the profitability of the business. These decisions span the spectrum of operational efficiency to investment choices to unfortunately, shrinking business operations in difficult economic times or as a competitive measure.
It is precisely at this juncture that an FP&A person’s job stares ethical constructs straight in the eye. In my career I have not only compiled and modeled data for problems that needed to be addressed but have been in a position to make recommendations on the best course of action. Each and every single time I have done so I have done so with the deepest orientation to the impact that the worst case scenarios have on peoples’ lives.
These moments are not about avoiding the inevitable rather they are about making the inevitable as painless as possible for those effected and as efficient as possible for the business. But the most important aspect is the shoring up and the protection of human dignity.
I’ve been a part of and subject to these business decisions and they have spanned the spectrum from difficult, yet highly dignified events to extremely painful and humiliating experiences.
So, every time I walk into a meeting where a menu of choices are presented around some difficult choices, I remember that international economics class and that professor. I choose my words carefully. I try to maximize the outcome for all involved.
This is where the FP&A person leaves excel and power point and is required to become a human being.