Introducing Fairlead Advisor’s newest team member, Carolina Andrés! Hailing from Portugal with an 11-year professional journey spanning Slovakia and Portugal, Carolina’s expertise lies in shared service center operations. What she finds most rewarding is embracing challenges and tackling unconventional projects. With fluency in Portuguese, English, and Spanish, Carolina effortlessly bridges cultural gaps in her work. Her ability to manage diverse accounting principles across business units is truly commendable. Notably, she developed a real-time data consolidation tool that enhanced a company’s bottom line significantly. In times of crisis, Carolina’s adaptability and willingness to learn shine through. For investors managing multi-country investments, she offers valuable advice on understanding different work cultures.
Tell me a bit about yourself and what you like most about your work.
I am Portuguese, born and raised. My professional journey spans 11 years, during which I have served in Slovakia and Portugal, primarily engaged in shared service center operations. My responsibilities have been diverse and dynamic, from hands-on operational tasks to establishing shared services for multinational companies. This usually entailed traveling to various countries to understand their needs and then integrating those services into the shared service operations in Portugal or Slovakia.
The aspect of my work that I find the most rewarding is the opportunity to tackle challenges head-on. I thrive when pushed out of my comfort zone and tasked with novel, unconventional projects. This aligns perfectly with my new role at Fairlead, whose clients are often in a time of rapid change. I consider myself fortunate for this opportunity.
You speak Portuguese, English, and Spanish fluently. How did you do this? Has being tri-lingual influenced the work you’ve done?
As a native of Portugal, we naturally gravitate towards learning Spanish due to our close geographical and cultural bonds. I started learning Spanish during an internship when I opted to take a language class. Paradoxically, my learning curve for Spanish accelerated when I moved to Slovakia, where I served the Spanish market and shared my life with Spanish locals. This immersive experience caused Spanish to come to me almost effortlessly, becoming a valuable tool in my professional toolkit and personal interactions.
For English, growing up in the south of Portugal, a region teeming with tourists, meant that I was constantly bathed in a sea of different languages, with English dominating. Moreover, my family, scattered across the globe, used English as our official language at home. This bilingual upbringing made mastering English an easy feat for me.
You have done an impressive amount of work helping shared-service departments manage business units in multiple countries. What have you learned from this experience?
Every place I’ve worked in is unique, with different people and customs. Being flexible and understanding their way of life helps to connect. It’s the same at work; if people are at ease with you, they’re more likely to lend a hand when needed.
It doesn’t work well just to tell people, “This is how it’s done.” It’s crucial to understand and respect their culture. The biggest lesson I’ve learned is to respect others, their language, and their way of life. This respect goes a long way, especially in this line of work. Understanding differences and showing respect not only helps in your personal life but also boosts your career.
You’ve helped different business units in the same company manage financial reporting needs for multiple business units, often using different accounting principles; what challenges did this create and how did you manage them?
Working with US GAAP and IFRS across varied business units is a fun challenge. They share similar foundations, but the devil is in the details. It’s like speaking different dialects of the same language.
The trickiest part? Balancing unique reporting needs of each unit while keeping true to their accounting principles. Take for example, in Portugal, where we tweaked US GAAP to fit our local context. The key was to understand these adaptations yet ensure they still sang to the tune of US GAAP.
My secret to managing these challenges? Flexibility and an open mind. It’s not just about knowing accounting rules but comprehending how they dance with the rhythm of each unit. I learned to collaborate closely with teams, understanding their needs and aligning their processes with the accounting standards. It was a fantastic balancing act that taught me the value of continuous learning and adaptation in the fascinating world of finance.
Can you give an example of how you helped a company improve its bottom line, perhaps by making an existing process more efficient or surfacing business insights needed to improve sales and operations?
In my previous role, we developed a tool that consolidated data from multiple systems for the first time providing vital, real-time insights into the company’s performance. This enabled leaders to identify operational inefficiencies and potential cost savings, offering a live snapshot of the business. Such a tool is incredibly beneficial for the Board of Directors, too, providing immediate, comprehensive insights into the business.
You’ve been asked to step into a crisis after the sudden departure of multiple team members. Tell me about that experience. What did you learn from it and what advice would you give others in a similar situation?
Following the unexpected departure of multiple team members, I needed to quickly assume many new responsibilities. Given tight deadlines and a shifting team dynamic, I needed to be adaptable, ready to learn, and take on new tasks, often stepping out of my comfort zone. The situation demanded an immediate response, so it was about jumping into action first and reflecting later. Indeed, it was challenging, but it provided an opportunity to grow personally and professionally, discovering capacities I didn’t know I had.
My advice to anyone in a similar situation is to remain adaptable and open-minded. Embrace the challenges as opportunities for growth, not just for the business but for yourself. Sometimes, it’s in the face of adversity that we truly discover our potential.
You’ve moved financial activities among multiple countries. Have you encountered challenges managing different cultures and work habits of people from different countries?
Working across different countries, I encountered diverse work habits and cultural variations. For instance, in South America, there’s a more relaxed approach to work, with flexibility in hours and a focus on getting things done. In contrast, countries like Denmark prioritize efficiency, starting early and finishing promptly. Adapting to these differences in work culture and scheduling was crucial. Understanding and respecting varying work styles is key when collaborating across borders. Flexibility and adapting meeting times accordingly have been essential in navigating these cultural nuances.
How do you use business report tools like PowerBI, Oracle, and Excel to give management easy-to-understand data and insights?
I utilize tools like Power BI, Oracle, and Excel to translate complex data into simple, clear insights for owners and managers. I’m particularly fond of Power BI. Its interactive nature allows me to create dynamic dashboards that investors can access anytime, anywhere. With real-time updates and visually engaging graphs, I make it easy for investors to track key metrics and understand the company’s performance—the ability to break down complex financial data into user-friendly visualizations aids in providing quick yet effective insights.
What tips would you give investors managing investments in multiple countries?
Make sure you have access to trustworthy financial and business reporting in new countries. This comes from having team members that speak the language and have immersed themselves in the target country. Spend time there, understand the work culture, and adapt to their ways of doing business.