Economies of motivation®
Baggage of expertise
Over the past years I have been working on several client projects within the Belgian financial sector. Focus areas were, amongst others: Mortgage Loan Acceptance, Bookkeeping & Testing, Cost Management, Financial Reporting & Analysis.
Clients choose TriFinance because of its hands-on mentality and its ability to integrate into an internal team at the client. The Trifinance philosophy “economics of motivation” is key. The better a consultant is supported and coached, the better he can apply his acquired knowledge & expertise to the client's specific situation. Together with the entire TriFinance family, the consultants are able to go even further than their own knowledge. Knowledge sharing is a key aspect of the TriFinance mentality.
This means that a consultant never goes alone on a project, but with a whole baggage of expertise to support him where necessary.
Throughout my first years, I mainly chose to focus on financial and business analysis, but I inevitably came into contact with many other areas/tasks within a finance department such as IT, operations, compliance, change management, project management and people management. For me, it did expand my knowledge even further.
During my first missions, one in the mortgage loan department and one as cost manager, I had to master the customer's BAU as quickly as possible, to be able to support the customer in an efficient way. This was achieved by integrating into the team as quickly as possible, devouring the documentation and mapping the processes. In my experience, asking the right questions to the customer is very important to ensure a good collaboration and accomplish the objectives of the assignment.
While it is not always the main task of the assignment, it is critical to do an in-depth analysis of the process. As consultants, we have the advantage of looking at a process with a pair of fresh eyes. We can see the bigger picture. Next to that, working operationally in the team offers you a lot of advantages. By executing the process yourself, it is you who has executed the process, it gives a more in-depth understanding of the key challenges. During projects, I discovered quick wins after analyzing the process and was able to further develop and test these quick wins and in this way speed up closing and improve the process.
The main focus of my assignments was in the field of financial reporting, both head office reporting and local reporting. Here it is important to be very analytical, punctual and independent. I had to perform in-depth analyses of new regulations such as IFRS16 , FinRep2020 and in a next step apply these to the customer available data. By doing so, I realized that data analysis and data quality are also very important aspects for a financial professional. Next, the focus was to create financial templates and models in Excel or other systems, in such a way that the process is automatic but still flexible for exceptions. In addition to producing the various reports, performing variance analysis is key to being able to respond quickly and efficiently to ad hoc questions from the head office or the NBB.
Besides the daily challenges in the workplace, there are numerous opportunities for us to develop further in different areas such as project management, financial analysis and language & communication skills. In recent years I have been supported by TriFinance to improve my language skills, obtain Prince2 Foundation Certification and recently start a new course Financial Modelling & Valuation.
As an active member of the TriFinance Expert Practice Performance Management, an expert unit gathering professionals passionate about Financial Performance in Financial Institutions, I am able to continuously improve my technical skills in this domain, while leveraging on the support and the knowledge of the team members.
For a few years, I have gained an interest in the stock market. At Trifinance, there is a community of colleagues that are actively following financial markets and products, which has been founded by my colleague Wouter Spitaels. It is an ideal environment to exchange tips and tricks.
For more info, you can always contact William Snoeck: William.Snoeck@trifinance.be or +32 2 712 08 90.