In this episode of Inside Cadana, we had the privilege of interviewing Priscilla Koranteng, our exceptional finance associate at Cadana. Throughout our conversation, we delved into Priscilla's remarkable career journey and she graciously shared her valuable experiences within the finance industry. Let's dive into it;
Can you give us a brief overview of your role at Cadana and some of the key responsibilities you handle?
As a Finance Associate at Cadana, I manage bookkeeping and accounting tasks for the company, oversee financial operations, and also ensure statutory compliance for both the company and clients. Additionally, I collaborate closely with the support and accounts management teams to provide assistance to ensure satisfaction for our customers.
So what initially triggered your career path in finance, and how did you navigate your way into the finance department at Cadana?
The allure of numbers, analysis, and a genuine concern for people initially drew me toward a career in finance. Since childhood, I had two potential career paths in mind: working in the medical field or pursuing a finance-related profession. However, my aversion to witnessing others in pain deterred me from pursuing a medical career.
Upon joining Cadana, my motivation was driven by a combination of curiosity and a profound admiration for the company's mission. I yearned for personal and professional growth, and Cadana presented itself as the ideal platform for me to nurture those aspirations while also making a meaningful difference in people's lives. The opportunity to contribute, assist others, and receive financial compensation all aligned perfectly with my aspirations.
Interesting, in your opinion, what are the essential qualities or skills that make a successful finance professional?
In my perspective, a successful finance professional should have the following qualities: integrity, strong analytical skills, financial knowledge, attention to detail, ethical conduct, problem-solving abilities, effective communication, a passion for continuous learning, good time management, organization, and the ability to build relationships.
How do you approach financial analysis and reporting tasks to ensure accuracy and efficiency?
When approaching financial analysis and reporting tasks, I follow certain principles to ensure accuracy and efficiency. Here's an outline of my approach:
I begin by clarifying the objectives of the financial analysis and reporting task which helps me to understand the purpose and expected outcomes, allowing me to focus on the relevant aspects and key metrics.
I collect the necessary financial data from reliable sources.
Before proceeding with the analysis, I ensure the accuracy and reliability of the data. This involves cross-referencing information, verifying data integrity, and resolving any discrepancies or errors identified.
I utilize appropriate analytical techniques to derive meaningful insights from the financial data. This may involve ratio analysis, trend analysis, variance analysis, or other relevant methods depending on the objective of the analysis.
To ensure accuracy and comparability, I adhere to consistent accounting principles, methodologies, and reporting standards throughout the analysis process. This helps in making valid comparisons and drawing reliable conclusions.
During the analysis and reporting, I pay close attention to detail, ensuring precision in calculations, interpretations, and presentation. This includes double-checking formulas, verifying data inputs, and reviewing calculations to minimize errors.
I apply critical thinking skills to interpret the financial analysis results in the context of the broader business environment. This involves considering factors such as industry trends, market conditions, and organizational goals to provide valuable insights and recommendations.
To enhance clarity and facilitate understanding, I present financial analysis findings using visualizations, charts, and concise summaries. This helps stakeholders grasp key insights efficiently and effectively.
Before finalizing the analysis and reporting, I conduct thorough reviews and quality assurance checks. This includes reviewing calculations, verifying accuracy, and ensuring the logical flow of information.
I consistently seek ways to improve the efficiency and effectiveness of my financial analysis and reporting processes. This involves learning new tools, staying updated on industry best practices, and incorporating feedback from stakeholders to enhance future analyses.
By following these steps, I strive to conduct financial analysis and reporting tasks with a focus on accuracy, reliability, and efficiency, thereby providing valuable insights to support informed decision-making.
Collaboration and teamwork are often crucial in finance roles. How do you contribute to collaborative efforts within the finance team and across other departments?
I actively contribute to collaborative efforts within the finance team and across other departments by employing effective communication strategies, sharing my knowledge and expertise, engaging in collaborative problem-solving, embracing feedback, and fostering strong relationships and rapport with colleagues.
How do you stay updated with the latest regulations, and best practices in the finance industry to ensure compliance and excellence in your work?
To ensure I stay updated on the latest finance regulations and best practices, I adopt several strategies. These include engaging in continuous learning, actively participating in professional associations, regularly checking regulatory agency websites, staying informed through newspapers and publications, and taking advantage of training and development programs. By employing these methods, I stay current in the ever-evolving landscape of finance and maintain a high level of competence in my work.
What aspects of your role as a Finance Associate do you find most fulfilling or enjoyable?
Definitely statutory compliance and financial operations 😄
For individuals aspiring to pursue a career in finance, what advice would you offer them to get started and thrive in the field?
My advice would be for aspirants to prioritize self-investment and education, proactively build a strong network, actively seek out mentorship opportunities, focus on developing soft skills, maintain an open-minded approach, and continuously strive for learning and personal growth.