Editor’s note: Don't act to prove yourself to others, said Ong Hui Giap, Chief Financial Officer (South East Asia & India Region), Coface. In today’s Female Leadership in Finance interview, Ong shares with us her advice for aspiring female finance professionals, the challenges facing her as a finance leader, and how hiking inspires her life and career.
FutureCFO: When did you start to become interested in finance? Can you briefly describe your finance career journey and one or two highlights along that journey?
Ong Hui Giap: I guess finance is in my blood. My father is an accountant. Before I learned how to write, I used to draw on the old ledger books that I found at home.
When I was moving from junior high school to senior high school, I had to choose my major. That was when I made a conscious decision to choose commerce over science.
I told myself that this would be a profession that would always be in demand in any sector. Even though people are talking about how Artificial Intelligence (AI) could replace jobs in the finance sector today, I think AI will help to augment the work we do instead of eliminating it.
Right after obtaining my degree, I worked as an external auditor and internal auditor. But after eight years of working as an auditor, I chose to move from the third line of defence to the first line, and I have had no regrets since then.
Being in the first line is more fulfilling to me. I am in a position to get my hands dirty and make things happen.
FutureCFO: What are some of the biggest challenges facing you as a CFO today? How might some of these challenges evolve?
Ong Hui Giap: The challenges I face as a CFO today are probably faced by many other professionals in the corporate world.
The fast-changing environment could easily overturn what was working well in the last few months or sooner.
We need to be extremely agile and adaptive to keep up with the competitive environment. There are always game changers in the market, or we can be game changers ourselves to stay on top of the competition.
Being a CFO, I have the privilege of having a bird's-eye view of the business and connecting all parts of the business together.
This poses another challenge: to connect with internal and external stakeholders and to bring people in from different functions to form a strong network.
This is particularly challenging when effective cross-cultural, cross-geographical, and cross-generational communication becomes key to success in the world today. These are exactly the factors that make our jobs exciting.
I also learn from hiking that whenever there is an upward path, there will be a downward path waiting for me. Life is full of ups and downs. You need to use different muscles in different situations. Most importantly, you need to stay open-minded and agile to enjoy the journey.
FutureCFO: What’s your advice to female finance & accounting professionals who aspire to become CFOs?
Ong Hui Giap: I would say: ”Don't act to prove yourself to others." Sometimes we find ourselves chasing the expectations set by someone else and trying to earn their approval.
We’re afraid of not meeting the expectations of the community to which we belong. But nobody else knows your value and your drive better than yourself.
So set your own goals and objectives and work towards them. It is the energy you harness from within that takes you this far and makes you stand out. It is your dream, not anybody else’s expectation of you.
If you want to grow beyond your current self, you need to be brave and take risks.
You need to allow yourself to be vulnerable to grow beyond your shell.
Don’t limit yourself and don’t be afraid of how people view you. You will be surprised that you can always be stronger than you thought you could be.
FutureCFO: Tell me something about yourself: What are your hobbies? How do some of these help you relax outside work? Do some of them inspire your work?
Ong Hui Giap: I enjoy hiking very much. It's a hobby that I've been maintaining for more than 10 years.
Hiking is a good physical exercise suitable for people with different physical conditions.
You can choose to walk at a pace that’s suitable for yourself. Sweating and being surrounded by natural scenery helps me to relax.
There are often many interesting thoughts that come to my mind while hiking.
Sometimes I find alternative answers to questions I face at work or learn to see problems from a different angle.
I also learn from hiking that whenever there is an upward path, there will be a downward path waiting for me.
Life is full of ups and downs. You need to use different muscles in different situations. Most importantly, you need to stay open-minded and agile to enjoy the journey.
FutureCFO: What do you want to do in the future? Do you want to become a CEO? Is there anything else you would like to try—such as running your own business or switching to another field/role ?
Ong Hui Giap: One of my mentors said to me: "We don't have to worry about what the next step will be. As long as you are doing well in what you are currently doing, the opportunities will naturally come to you."
I think this approach works well for me. Thinking about whether and when I can become a CEO could be a distraction from what I want to do.
Besides, I think I don't need someone to give me a job title to do what I really want to do.
Running my own business is an alternative pathway for me and it is also a dream I have for myself.
It will be very exciting to apply what I’ve learned so far to a business that I am personally passionate about and create something that is useful and meaningful to people.
