Funto Agbeniga, Head of Commercial Finance and Planning, at GB Railfreight, draws on her experience at major organisations like BT and Save the Children. She discusses the danger of a “we’ve always done it this way” mindset and the critical need to bridge the gap between high-level strategy and operational teams.
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Here’s a glimpse of what you’ll learn:
- The Biggest Mistake is the “We’ve Always Done It This Way” Mindset. A lack of openness to change and an inability to overcome internal resistance is the greatest threat to a business’s long-term sustainability.
- Bridge the Gap Between Strategy and Operations. A key opportunity for finance is to translate the C-suite’s long-term vision for the teams on the ground, aligning their development with the company’s future goals.
- The Future Finance Leader is a Strategic, Empathetic Communicator. As technology automates the numbers, the most valuable skills for a finance professional will be the ability to think strategically and the soft skills to “read the room.”
Could you please introduce yourself and share a little bit about your career journey?
I’m Funto, and I currently lead the commercial finance and planning function at GB Railfreight. My career started with a strong foundation in professional services at KPMG, where I worked with global organisations on IFRS reporting, controls, and governance.
I then pivoted to the business side of things, moving to a role that sat between finance and the go-to-market strategy team. This was quite exciting as I got to work on everything from market analysis and product pricing to measuring performance. Subsequent to that, I moved into more strategic roles at BT and Save the Children, where I helped shape and upskill teams, managed group investments, and led a global ERP project.
I’ve been in the rail freight sector for about eight years now. My first role here was building a finance function from the ground up. My current role brings together all my skill sets, balancing the strategic and operational sides of finance to support the business and add the right value.
That’s a very inspiring journey. What has been the biggest challenge for you, and how did you handle it?
Early in my career, I made a conscious effort to think ahead and ask, “What does my profession look like in the next five years?” I assessed the future of audit and realised that to remain relevant, I needed to pivot towards the commercial finance and strategy side of things.
The biggest challenge was having the agility to understand that shift and upskill myself to meet it. It was a critical point in my career, and it taught me the value of rising to the challenge and moving with the changes that arise in your industry.
What new opportunities in finance do you think businesses should be paying attention to?
One key area is bridging the disjoint between high-level business strategy and the operational teams that need to deliver on it. Often, the senior executives have a five-to-ten-year plan, but the employees on the ground are not always connected to that big picture.
When you successfully translate that strategic ambition for your teams, it creates huge opportunities for growth. For example, in my current role, I led a change management process to transform my team of management accountants into strategic business partners. This meant understanding their individual career ambitions and providing the right training and opportunities to align their growth with the company’s long-term objectives.
What is one common financial mistake you’ve seen other companies repeatedly make?
The most common mistake is the mindset of, “We’ve always done it this way, why should we change?” That lack of openness to change is a major limiter. I think of Nokia and BlackBerry as relevant examples—they were forerunners, but they failed to move with the changes in the marketplace.
Overcoming this resistance to change is critical for the sustainability of any business. It requires being honest with ourselves and working together for the common good.
How do you see the finance sector evolving over the next three to five years?
Technology is here to stay, and the shift towards finance being a strategic function will continue and increase. We are being called into rooms we previously weren’t and are being asked to provide insights and help shape the future of the organisation.
This means finance professionals must focus on upskilling, particularly on the soft skills. We need to be able to understand our stakeholders, “read the room,” and know how to position our insights in a way that resonates. We need to step away from just the numbers and learn to engage and speak the language of the business.
What new tools or trends will shape how companies make financial decisions?
One key trend that won’t go away is Artificial Intelligence. We need to see it as a friend, not a foe. It brings huge efficiencies, allowing for more insightful and real-time reporting, which means we can spend more time on strategy. However, it also means some traditional roles are at risk, which reinforces the need to reinvent ourselves and upskill.
The other key trend is ESG. As organisations, we need to think about sustainability, ethics, and good governance. This thinking can inform major operational and investment decisions, like our company’s investment in hybrid locomotives that run on electricity.
What is one question you think finance leaders should be asking themselves today?
I feel that we should always be asking ourselves: “Is there a better way?” It’s about not accepting the status quo. We should be out there networking, learning from other organisations, and having conversations with other stakeholders in the business. When we are courageous and challenge how things have always been done, we grow and find new efficiencies.
How do you approach mentoring and nurturing the next generation of finance leaders?
I am a leader who likes to know my team beyond just the work and the deliverables. When you connect with people, you can work better together and understand each person’s strengths and passions.
I have a multi-generational team, and I have come to understand that the younger generation is often more switched-on with technology and driving efficiency. I challenge them with projects in these areas, giving them opportunities to grow, take the lead, and have conversations with third parties themselves.
It’s also about ensuring their work aligns with their personal missions and values. I proactively champion their professional development, checking in on their journey and advising them. It’s wise to learn from people who have walked the path you want to tread, and I try to provide that guidance.
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