From Leading Data Science at Facebook to becoming a CEO: Kat Orekhova
Mar 5, 2024
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From transitioning from math academia to leading data science at Facebook to becoming a CEO, Kat Orekhova shares insights on long-range planning challenges, collaboration between data science and FP&A, being a Sequoia scout, mentorship by Meta CFO Susan Li, and the impact of AI in finance.
Establish collaboration between FP&A and data science teams for accurate forecasting.
AI enhances data analysis efficiency but humans remain crucial for strategic decision-making.
Excel mastery, soft skills, and continuous learning are vital for success in FP&A career.
Deep dives
Transition into FP&A Team at Meta
Cat transitioned to the FP&A team at Meta, led by an exceptional CFO, Susan Lee, after working in data science and product roles. Susan recognized the need to bridge the gap between the FP&A team and the core data science team at Meta due to challenges in revenue forecasting accuracy and interdepartmental data understanding. By leveraging Cat's technical abilities and deep relationships with product teams, Susan aimed to enhance forecasting processes and improve strategic decision-making within the company.
Collaboration Between FP&A and Data Science Teams
Cat highlighted the importance of establishing effective collaboration between the FP&A and data science teams. By providing the data science and BI teams with essential business context, Cat ensured that technical analyses aligned with the business's strategic goals and reporting requirements. The collaboration focused on merging technical expertise with business acumen to drive informed decision-making processes and enhance forecasting accuracy.
AI's Impact on FP&A Roles
Cat discussed the evolving role of AI in FP&A and emphasized that while automation and AI tools enhance data analysis efficiency and accuracy, humans will remain pivotal in making strategic decisions. AI will streamline granular data analysis, scenario planning, and reporting tasks, freeing up FP&A professionals to focus on strategic discussions, decision-making, and stakeholder alignment. Cat stressed the importance of developing soft skills alongside technical proficiency to thrive in the evolving AI-enhanced FP&A landscape.
Maximizing Excel's Potential for FP&A
Cat expressed admiration for Excel's keyboard shortcuts, dubbing Excel as a superhero tool for those well-versed in its capabilities. She highlighted the efficiency and prowess gained from mastering Excel shortcuts, which not only boost productivity but also elevate users to Excel maestros. Cat emphasized the importance of demanding tool proficiency that values keyboard shortcuts, enhancing productivity and presenting Excel as a powerful asset for FP&A professionals.
Advice for Aspiring FP&A Professionals
Cat's advice for newcomers in the FP&A field centered on continuous learning, seeking broad business context, and fostering technical expertise alongside soft skills. She encouraged aspiring FP&A professionals to delve into the strategic aspects of the business, engage in earnings calls, and expand their cross-functional knowledge. Cat highlighted the value of grasping the 360-degree view of the business, mastering spreadsheet efficiency, and developing soft skills for effective communication and decision-making.
Kat Orekhova is Co-Founder & CEO of Vareto, a planning and analytics platform for enterprise teams. In her own words Kat has an “unusual backstory” leaving the world of math academia to build Facebook’s first-ever data science team within FP&A. At the social media giant she was Responsible for financial reporting, forecasting, and planning activities for Facebook’s core business. This was followed by stints as Head of Product at IronClad, a $3billion legaltech company, Sequoia Capital Scout, General Partner at Darkmode Ventures and co-founder & CEO of Vareto.
In this episode Kat reveals:
The challenges of long range planning as Facebook scaled massively and trying to predict growth across countries from the US to India with more than 100 people contributing to the planing process)
Being at the beginning of data Science at Facebook
The move from data science and product into finance
When should companies start looking at FP&A
Being a Sequoia scout and what it entails and what she looks for in investment opportunities
How (now) Meta CFO Susan Li “an absolutely outstanding” mentor insisted on a finance team with data science skills led by Orekhova
The right blend between data science and FP&A who are “Living in Different Tools”
Her take on the amount of data science that FP&A teams need to boost their career
