Topic Presented by Dominic Shum at the 2010 Financial Controllers' Congress, Kuala Lumpur.

1. Dominic Shum
on
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2. Highlights of dominic
1. Graduated 1988 with BBA from National University of
Singapore
2. 16 years in Senior Management Positions
3. Experiences includes accounting, finance, planning,
marketing, human resources management, IT, corporate
affairs and training
4. Member of National Institute of Accountants, Australia
5. Member of Malaysian Institute of Management
6. Associate member of Institute of Internal Auditing Malaysia
7. Member of Malaysian Institute of HRM
8. MBA in Entrepreneurial Management (EIA, Australia)
9. Certified Internal Control Management Professional
© 2009 Shum Ying Loon All Rights Reserved

3. definition
 A financial controller is a person who
supervises accounting and financial
reporting within an organization.
 For the purpose of discussion I assume
that this covers finance manager,
accountant or even the CFO and other
similar title
© 2009 Shum Ying Loon All Rights Reserved

4. overview
My views on the expectation of Financial Controllers
 The past
 Current practice
 The future
That’s
me!
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5. the past
 Record keeping
 Collating revenue and cost
 Managing excess funds
 Managing loans and funding sources
 Statutory compliance
 Budgeting
© 2009 Shum Ying Loon All Rights Reserved

6. current
 All of the previous &
 Part of senior management team
 International coverage
 Part of the decision making process
(rubberstamping department)
 Corporate governance
 CIO
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7. The future
 All of the above!
 Decision maker
 multitasking
 International outlook
 Network savvy
 CFEO?
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8. new expectations of FC
 Independent & responsible with bottom
line accountability
 Value (more) for money
 Strategic vs operational coverage
 Deal making
 To have business acumen & knowledge
 Efficient management of productive
assets
 Proactive corporate governance
© 2009 Shum Ying Loon All Rights Reserved

9. New trend on management
 Analytics (Thomas Davenport, HBR)
 Managing competitively based on analysis
of information collect from all aspect of
business.
 Pressure on FC to deliver accurate
 Rise of accountability issues (sub-
prime?)
 FCs are also put in charge of risk
management and corporate governance
 FC reporting to management on such
issues?
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10. new things to learn
 Get an MBA in marketing or general management
but not any more in finance
 Learn the ropes quickly –expose yourself in every
functional area possible. No more rubber stamping
be involved in the proposal itself at early stages
 Time & IT management – spreadsheets are for
accountants not you
 Understand that you cannot do everything …get
into networking to get that extra bit of knowledge
and skill set
 Learn to leverage power in the organization
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11. Changes to make in the organization
 Streamlining processes according to
strategic focus of the organization and
take ownership
 Control flow of information and reduce
disk to eyeballs time.
 Knowledge management - effective
control means knowing what to control
 Globalize financial management
 Take the lead in asset management
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12. Successful controllers
 Eddie Tang, Dorset International (Strategic
change)
 Tan Wee Seng, ex-CFO & ED of LiNing
Company Limited (Value creation &
Management control)
 Edward Liddy at Allstate Insurance Co./AIG
(CFO-CEO) (Strategist, turnaround expert)
 Henry McKinnell at Pfizer Inc. (CFO-CEO)
(Strategic Planing)
 John Dasburg at Burger King Corp (CFO-CEO)
(supply chain strategist)
© 2009 Shum Ying Loon All Rights Reserved

13. That’s all , thank you for your attention…..
Contact me at dominicshum@gmail.com
that’s all
© 2009 Shum Ying Loon All Rights Reserved