In this episode, Winnie Leung, FCPA, shares how a CFO can elevate finance from a transactional function to a strategic driver of business success. Drawing from her experience as a CFO and former KPMG partner, she explains why financial leaders must immerse themselves in the business, how digital transformation extends beyond finance, and why data is a competitive advantage.
Winnie discusses financial reporting considerations, the impact of regulatory changes, and the strategic value of aligning finance with business goals. She also explores how AI is reshaping finance, emphasizing why starting small, testing, and learning is the best approach to adoption.
Additionally, Winnie highlights the power of networking, the value of asking ‘why’ when improving processes, and the importance of mentoring the next generation of finance leaders.
Listen in to learn more…
Key Moments:
00:36 – Introduction to Winnie Leung, FCPA, and her journey from KPMG to CFO roles.
01:08 – Winnie’s experience at KPMG, working with technology companies and public markets.
01:36 – The role of financial reporting and transactions in helping companies raise capital and go public.
02:37 – How Winnie’s expertise in public company reporting became transferable across industries.
03:22 – The evolution of financial reporting requirements, from Sarbanes-Oxley to IFRS adoption.
06:03 – The shift in regulatory expectations for public companies and how internal controls became critical.
08:21 – The growing role of private equity in supporting companies that chose to remain private.
11:50 – Winnie’s decision to leave KPMG despite making partner, seeking new challenges in finance leadership.
12:33 – Transitioning from an advisory role to an operational CFO role—wanting to drive execution rather than just advise.
15:50 – Finance’s perception as a blocker vs. an enabler in organizations—changing the internal mindset.
17:40 – Transforming finance by embedding business partnership across departments.
19:10 – Learning the business deeply—taking sales training to understand pricing and operations.
20:23 – How budgeting went from a simple percentage increase model to a more strategic, data-driven process.
21:13 – Digital transformation in finance—moving from paper-based expense reporting to full automation.
22:22 – Eliminating inefficiencies in payables and expenses with decentralized digital processes.
25:42 – Navigating change management—how Winnie reshaped the finance function with a lean team.
27:39 – Expanding finance’s capabilities in forecasting and business intelligence.
28:02 – The power of data—using analytics to create a competitive advantage in decision-making.
29:07 – Leveraging data to predict COVID recovery and improve forecasting credibility.
30:16 – AI in finance—starting small, testing, and learning from early applications.
32:27 – Building AI-driven forecasting models and refining them over time.
34:26 – Applying AI to pricing, customer behavior, and business strategy.
36:06 – AI’s broader role in automating financial processes and enhancing decision-making.
38:45 – The importance of trust in finance teams to drive transformation successfully.
45:17 – Winnie’s recognition as an FCPA and her contributions to mentoring future finance leaders.
46:26 – The role of networking and continuous learning—Winnie’s leadership at FEI Canada.
49:44 – Why CFOs should actively engage with their peers and industry groups for growth.
50:15 – Closing thoughts on leadership, finance transformation, and continuous learning.
50:37 – Final remarks and appreciation for Winnie’s insights.
