In this episode, host Paul Barnhurst (aka The FP&A Guy) dives deep into the evolving world of Financial Planning & Analysis with Olivia MacDonald, a highly skilled financial professional with a diverse background in FP&A process optimization and system implementation. The conversation explores what makes FP&A great, focusing on business partnerships and the strategic role FP&A can play beyond just reporting numbers.

Olivia is a qualified CPA and ACA with a proven track record of delivering strategic solutions that drive efficiency, accuracy, and transparency across organizations. With a mastery of data extraction and transformation tools like MQL, SQL, and SOQL, Olivia has helped companies streamline operations, enhance financial transparency, and drive decision-making through data. Her non-traditional path into FP&A—from audit to FP&A consultancy—gives her a unique perspective on how finance can be a business driver, not just a reporting function.

Expect to Learn

What distinguishes great FP&A teams, with a focus on strategic business partnering.
How audit and FP&A share common skills, and how auditors can leverage financial modeling experience.
The importance of building strong relationships as an FP&A professional and working with different business units.
Olivia’s unique career journey from auditing in Ireland to working in FP&A and the key lessons learned.
Strategies to streamline the budgeting process and engage business partners in decision-making.

Here are a few relevant quotes from the episode:

“FP&A shouldn’t just be a reporting function. It needs to be a strategic business partner that helps drive decision-making.” - Olivia MacDonald
“Having mentors who can tell you, ‘That’s a bad idea,’ is invaluable. It’s how I ended up taking risks in my career that paid off.” - Olivia MacDonald
“When I got into FP&A, I realized how important it is to be a business partner, not just a numbers person.” - Olivia MacDonald

This episode with Olivia MacDonald takes us through the evolving role of FP&A where she emphasizes the importance of involving business partners in the budgeting process, learning from mentors, and embracing technology, including generative AI.

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Earn Your CPE Credit

For CPE credit please go to earmarkcpe.com, listen to the episode, download the app, and answer a few questions and earn your CPE certification. To earn education credits for FPAC Certificate, take the quiz on earmark and contact Paul Barnhurst for further details.

In Today’s Episode

[02:13] Introduction to the episode and guest

[04:22] What Does Great FP&A Look Like?

[06:21] Olivia’s Journey from Auditing to FP&A

[09:31] Learning from Audit to Excel in FP&A

[12:31] Transition to Canada and FP&A Consulting

[22:09] Data Skills and the Future of FP&A

[29:03] Tips for Selecting FP&A Tools

[38:54] A Blitz Approach to Budgeting

[46:55] Using Generative AI in FP&A

[55:49] Closing Thoughts & Advice

EP.80 Tony Cocker, Senior Independent Director of SSE plc