CFO GUEST: David Quinn
EPISODE: 861: Putting Your Plan in Motion
The following is a machine generated transcript
CFOTL: You built your career in large banking institutions … at Bluevine are you enjoying some sort of greater influence over how the organization is absorbing information or data?
Quinn: No, it’s such an insightful point there, Jack. Yeah. I love what I do. And moving from a large organization to a small organization, somebody said it to me, a friend who made a similar transition. He said, “When you think you’re moving fast, you’re not.” And that is really, really clear. We move at a phenomenal pace, and the speed of decision making, like, “Hey, I want to see this metric. Okay, done.” They get on dashboard. There’s no big lengthy discussion around it, and that I think is critical. There’s just less bureaucracy, less discussion around things. It’s all focused on the execution part. It was specifically to those metrics, one of the things that we did was set up a risk committee, right? So, as a subset of the audit committee, we have a risk committee. Within that risk committee, we monitor certain metrics. So, we created a risk appetite.Read More
And so, there’s a whole bunch of new metrics that we weren’t looking at previously that we’re now looking at. And the ability to do that in a short space of time, two, three months, is pretty phenomenal. It would’ve taken a much longer time in a larger organization, one, to source the data, agree to definitions, run it by all the different levels. Here, you have less complexity and you have certainly a lot less politics around things. And so, it’s more test and learn, test and learn, continuous iteration.
And the staff and the executives are supportive of that process, and you can see the bigger picture. I would say one of the, let’s say, challenges, or things to be aware of, that I’m always checking myself is, moving from a large corporation to a smaller corporation, is making sure that you are not over-building, right? And so, fit for purpose is something that I try and live by all the time. What is good enough, right? This doesn’t have to be world class. We’re still evolving. But what is fit for purpose, fit for this size of organization? What can we consume with the resources that we have?
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