Finance Monthly CFO Awards 2018 Winners Edition

www.finance-monthly.com 18 FINLAND Finance Monthly CFO Awards 2018 Finance Monthly CFO Awards 2018 I am thankful for all of my work-related experiences over the past twenty years, as they all help me in one way or another in my current role. What was the most challenging period of your career and how did you overcome it? How does this affect your current work as CFO? The most challenging period of my career must have been in the wake of the financial crisis ten years ago. We had converted the Finnish, originally family-owned conglomerate I used to work for, into a thriving business and IPOed it in Australia the year before. Soon after the financial crisis hit, a mobile phone component manufacturing business we had operated very successfully in China came to a sudden halt as mobile phone manufacturers stopped ordering new components because inventories were full and phones were not selling any more. This triggered obvious financial challenges, major restructuring needs and huge concerns on the financiers’ side. Cash was tight and I ended up spending a lot of time shuffling funds between the group companies around the world to make ends meet every day. Even more critical was to communicate the situation and the measures we’ve taken to the financiers clearly and convincingly in order to maintain their trust and support. Today, I believe that communication skills and the ability to address difficult problems have to be the CFO’s core competence. Having been through some really tough times helps put things in perspective and prepares you to handle sudden changes and challenges in a better way. Planning ahead and maintaining operational flexibility is also very important in today’s uncertain and ever-changing environment. What motivates you most about operating in the healthcare sector? How do you use this to motivate others? It is great to be working in a sector whose core mission is to do good, maintain and improve people’s health and wellbeing. However, at the same time, the healthcare sector has its challenges. With ageing population, healthcare costs are increasing rapidly both in Finland and globally and governments are facing a need to reduce the growth in healthcare spend. With its superior process efficiency, quality and customer satisfaction, Mehiläinen is in a great position to help and it is motivating for me and the whole organisation to be able to contribute to solving a national challenge. Healthcare is also going to go through a number of radical changes as a result of digitalisation. Artificial Intelligence, digital services and automation will have a profound impact on both the care and back office processes. Being at the forefront and seeing the possibilities and impact of these changes is very exciting and rewarding for me. I believe Mehiläinen Services Mehiläinen provides extensive social care and healthcare services to private, insurance, corporate and municipal customers. Mehiläinen serves our customers in over 360 premises all over Finland. PRIVATE HEALTHCARE SERVICES - Physician Services - Diagnostics - Operations - Dental Care - Occupational Healthcare Services PUBLIC HEALTHCARE SERVICES - Health Centres with Customers’ Freedom of Choice - Outsourced Services - Public Dental Care - Emergency Care Services and Staffing - Home Care Services PUBLIC SOCIAL CARE SERVICES - Residential Care Services for the Elderly - Residential Care Services for the Disabled - Mental Health Rehabilitation - Child Welfare Services - Non-Institutional Services within Child Welfare Services