Building a successful career in finance

Biopharma firm, Cytiva, formerly known as GE Healthcare, developing many products for researchers, academia, and biopharma, including end-to-end solutions from equipment to software to reagents, as well as automated data collection, and digital traceability.

In describing the business Cytiva’s Chief Financial Officer for APAC, Christine Tan notes that the firm’s customers undertake life-saving activities ranging from fundamental biological research to developing innovative vaccines, biologic drugs, novel cell and gene therapies, and new technologies, such as mRNA.

Commenting briefly on Cytiva’s recent acquisition of Pall Life Sciences, she adds that [the acquisition] "allows us to better serve our customers, providing them with the technologies and expertise needed to go from pre-clinical research to commercial production."

Workforce diversity at Cytiva

Inclusion being the theme of the 2024 International Women's Day celebration, Tan commented that greater workforce diversity is something the industry is making progress towards.

“At Cytiva, we define diversity as the existence of differences, visible or not, in our workforce, workplace and the markets we serve,” she added. “With clear goals for gender and racial diversity globally, I’m excited that we are on our way to achieving these targets.”

Dr Stephanie Shipp joined Cytiva in June 2023 as its global Diversity, Equity and Inclusion leader to chart the company’s strategy for 2024 and beyond. “By embracing differences, we enrich our perspectives, drive innovation, and create a more dynamic workforce. Progress is tangible, with ongoing efforts signalling a focus on continuous improvement,” reveals Tan.

Change is in the wind

Asked if there is a noticeable shift in the pace of promoting equity and inclusion for women in the industry, she pointed to her observation attending a Women Pioneers Series hosted by AmCham Singapore.

“It was impressive to see the number of female leaders across sectors representing academia, private, and government,” said Tan. She added that it was clear that more women are stepping into management roles and their enhanced visibility is pushing for more equity and diversity at work.

“Interacting with my peers at Cytiva, with our focus on DE+I in 2024, there is a very visible acceleration, and we are actively working to further increase the representation of women in professional and managerial roles by 2025.”

Christine Tan

Drivers of change

Asked what is fuelling the increased participation of women in leadership roles, she pointed to the recognition of diversity's value, embracing varied perspectives, skills, backgrounds, and talents.

“Diverse voices enhance organisational decision-making, and recognizing this strength has helped to boost workplace inclusion,” said Tan. “Cytiva’s commitment to advancing gender equity in management is one aspect of this, ensuring equitable access to opportunities while cultivating a strong women's leadership identity.”

“More broadly, I see within my team and at the wider business level, the benefits of working as part of a diverse team, reinforcing the idea that organisations thrive when they embrace different perspectives.” Christine Tan

Opportunities in higher positions

Tan believes that for moving to have greater opportunities to move up the ranks in the finance function, there needs to be “both push and pull factors”. She believes organisations need to have robust frameworks.

She cites Cytiva’s DE+I and learning and development initiatives, fostering talent development through mentorship, associate resource groups and training designed for employees to hone skills.

She points out that from an individual’s standpoint; aspiring women should actively seek out new skills to ensure they position themselves well for growth opportunities.

“A diverse skill set, as seen in my personal finance journey across controllership, commercial, and operations, enhances the chances of moving through the ‘ranks’. Combining both organisational support and personal initiative, pathways can be created for women to step into leadership roles,” elaborates Tan.

Starting a career in finance – a look back

Tan recalled that when she graduated with a Business Commerce degree, with a major in Economics, a career in finance initially was not an area of interest.

Things started to change for her, during a management training program task when she was asked to create a business case to bring products into a new market. “This opened my eyes and challenged the stereotype of finance as just numbers,” she reminisced.

“In almost 20 years, my finance journey has encompassed roles from controllership to commercial to business development, and I've seen finance evolve into a dynamic leadership role, putting it at the heart of business success and strategic decision-making,” she looked back.

“It is this breadth and evolution that has kept me engaged in this profession,” she exclaimed.

For Tan, the best reward lies in being at the heart of decision-making and being able to collaborate across diverse teams and business units.  She recalled in her most recent role, she worked closely with business development teams across the world to promote Cytiva solutions to customers.

“It is especially rewarding when you can witness the impact of the risk assessment, analytics and insights provided from a finance perspective and see how that translates into profitable business outcomes for the company,” she explained.

“Finance leadership is not about a single moment but the continual joy of achieving sustainable success as a team.”

Christine Tan

Fewer women in the upper echelon of power

The finance/accounting department is usually where we see greater participation by women particularly at the mid to lower ranks. But as you look at the upper echelons of power, there is a noticeable decline in the number of women taking on CFO or senior finance management roles.

Tan has a different view. She noted that across Danaher companies, including Cytiva, she sees a balanced presence of women in senior finance roles. However, more broadly there is the perception that reaching senior management entails significant trade-offs.

“In my experience, it involves increased travel, time management, and extensive networking for broader impact,” she added. “The willingness to make such trade-offs could influence the decision for women to pursue high-level roles.

“It is not always about the lack of representation but the considerations around personal and professional trade-offs and what companies can do to support this.”

Drawing from experience – life’s lessons

According to Tan, three factors have been instrumental in shaping her journey.

Firstly, a steadfast focus on building a strong foundation in fundamental finance skills which are essential for growth.

Secondly, honing transferable skills like critical thinking and curiosity allows for adaptability across roles and companies.

Lastly, maintaining an open mind and having a growth mindset. I always encourage my team to venture beyond their comfort zones, take on new challenges, and continually learn.

“As a finance professional, all of these principles propelled me through different roles and companies, contributing to where I am today,” she concluded.

For Tan, effective communication is crucial and becomes more important as you progress in any organisation. Developing influencing skills is also essential, especially when navigating decisions beyond your direct control and with a wide range of stakeholders.

“I also find that cultivating strong listening skills helps to build trust in the team. For example, I regularly conduct meetings with team members who don’t directly report to me to gain insights into the work of the wider team,” she added.

“Lastly, keeping on top of the evolving finance landscape and being aware of the latest trends like AI and digital technology will ensure you remain relevant.”

The generational challenge

Finance is a team – not an individual. Like other departments, the contribution of individuals is what has helped propel the finance to become a critical partner to the business – supplying not just insights but valuable advice for leaders in the decision-making process.

Tan believes that managing diverse generations needs a tailored approach. “I observed younger associates in the team have a stronger emphasis on inclusivity and a shared purpose, as compared to when I first joined the workforce,” she recalled.

“I acknowledge these priorities and at Cytiva we aim to create an inclusive environment, for example offering flexible work arrangements, where staff, regardless of their age, feel their contributions align with larger organisational goals,” she commented.

“I don't think there's a one-size-fits-all solution, but understanding individual motivations and aligning them with the organisation's objectives remains a key focus for effective team management.”

Christine Tan