CFO Spotlight: Maryse Malicet, Moet Hennessy Europe
In the first of our CFO Spotlight series, we talk to Maryse Malicet, one of the many talented European finance professionals in London, about what it takes to become a CFO;
HedgerWay: How would you summarize your career journey so far?
Maryse: I went to a business school in France which is quite a common option if you want to work in Finance or Marketing. I then spent 5 years with an audit firm before transitioning to a company within LVMH, as the Head of Accounting.
I grew up with LVMH with my career going from Head of Accounting to Financial Controller. Four years ago, having lived and worked in Paris for more than 20 years, I moved to London to take up the role as the CFO for Moet Hennessy Europe.
HedgerWay: How are finding London?
Maryse: Yes, it’s going very well! Apart from Brexit, everything is great!
HedgerWay: Your are clearly passionate about your industry, which has evolved in many ways since your launched your career, but how would you describe how the finance industry has evolved since you started this journey?
Maryse: It is mainly linked to the support that is now available. When I first started, we were not using computers so there have been a lot of developments through advances in IT. The accounting tools that are available now give greater access to data which is a great help proving great information. However, you have to make sure that you don’t get lost amongst it all and you manage to keep doing your job properly because it is still important to be accurate in finance. When I first started, it would take 2-3 weeks to close accounts whereas now you only have 2-3 days.
''Four years ago, having lived and worked in Paris for more than 20 years, I moved to London to take up the role as the CFO for Moet Hennessy Europe''
HedgerWay: So it’s much quicker than it used to be but accuracy remains a fundamental principal?
Maryse: Yes. The expectations and the reach of Finance have also evolved far beyond the traditional idea of the Accounting Department. We are no longer just the Accountants. We are the people that need to make sure their P&L information is perfect. We delve directly into the data, present information to customers directly and we also do everything in relation to taxes. Perhaps most importantly, we are there as an advisor to the company.
HedgerWay: What advice would you give to the many aspiring accountants out there who are looking to make that transition to CFO?
Maryse: There are three key traits of a CFO, which you should look to demonstrate earlier in your career; Work hard, develop your key skills and be visible. Firstly, you have to decide that you want it. It is then your responsibility to apply yourself, work hard and put in as much effort as you can to get it. If you put your mind to it, you can get the job that you want. In my experience, you don’t need to be an expert but you need to consistently prove that you can do your job properly, which comes as a result of being rigorous. Those techniques you learn at the beginning of your career in audit are a great starting point in being able to develop those key technical skills. You will use your skills in finance differently when you work in cosmetics in comparison to the spirits industry or the leisure industry. Finally, you’ll want to progress quickly but it is important to balance your ambition with supporting the people around you, because becoming a CFO is not just about the accounting, taxes, the internal control but it’s to show that you are visible.
''We are no longer just the Accountants. We are the people that need to make sure their P&L information is perfect. We delve directly into the data, present information to customers directly and we also do everything in relation to taxes. Perhaps most importantly, we are there as an advisor to the company.''
HedgerWay: Other than becoming the CFO at Moet Hennessey, what would you say has been your biggest accomplishment to date?
Maryse: Building a strong team and making sure I have the people in place who I can really trust. A CFO often has accountabilities outside of finance, for example I’m not only responsible for the finance but also the supply chain and IT too. Therefore, delegation and being able to build a great team has been very important.
HedgerWay: You are undoubtedly a role model for many women looking to progress their careers. What advice would you have for them and any companies that are looking to support women in the workplace?
Maryse: I think at the first level in business you have a lot of ladies but as you grow through a company and through life, it becomes about being able to manage two lives. I’m a mother of three daughters and it’s not always easy. When you are a woman, you feel more guilty than your partner when going to work. This is the mentality we have to change across the board, not just with the finance profession. We need to make sure that everyone who is interested, has the ability to progress in their career. We should help them believe that from day one they have the capacity to be successful and build towards a happy life, which is not always easy. Sometimes when you speak with your Executives or to everyone else, it looks like you’re living the dream. It’s not a dream every day, it’s a question of finding the right balance. Sometimes you have to accept you can’t be both with your family and at work all the time and at the same time. By managing both carefully, you can succeed.
HedgerWay: Which again stresses the importance of building a strong team?
Maryse: Yes definitely.
''...as you grow through a company and through life, it becomes about being able to manage two lives. I’m a mother of three daughters and it’s not always easy. When you are a woman, you feel more guilty than your partner when going to work. This is the mentality we have to change across the board, not just with the finance profession.''
HedgerWay: What final piece of advice would you like to give those looking to follow in your footsteps?
Maryse: Show that you are willing to work hard, making people aware of your ambition and leaving nothing to chance. Work hard with your peers, while remembering that there is a lot of competition out there, you’ll find the right way to succeed and realise your goals.
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