This week we caught up with none other than Headway Wealth’s Finance Manager, Richard Mundell. Rich plays a critical role in the ongoing management of our company’s finances, payroll, and liaises with the entire team on a wide variety of requests and topics.
In our recent interview with Richard, we discussed his personal and professional journey in finance.
What led you to choosing this profession?
I have always liked maths and science, I thrive with structure and enjoy matters that are precise so finance seemed like a natural fit. I then went on to study finance, realised uni wasn’t for me but I went ahead and got my qualifications. Since then, I have worked for small, midsize and large companies in a number of finance related roles such as payroll, business finance, process improvement, amongst others. Although I spent most of my time working in big companies, I have genuinely preferred working for smaller businesses like Headway Wealth which offer greater flexibility, more autonomy and freedom.
Tell us about your role ?
I am responsible for all the company’s finances whether that be managing cashflow, monitoring recent transactions, bank reconciliation, report creation for management, preparation of tax returns, payroll etc. I also implement new processes and procedures that help streamline the company’s operations. Every day is different so it makes my role more interesting.
What do you enjoy most about your job?
I have always been one for organisation and setting up new processes that help a company’s operations. A lot of time can be wasted on duplication so I try to minimise it as much as possible to make a business more efficient. This is something I have focused on in previous roles which has led to positive results.
I also really enjoy the flexibility that my job offers. I work from home a few days a week which makes a world of a difference because I am a father of two so I get to see my children more often and spend more time with them.
If you weren’t doing this job, what would you be doing?
I would probably still work in finance but in a different capacity: accounting. I have considered becoming an accountant because it would complement our current service offering at Headway Wealth.
What are your hobbies outside of work?
I like running, hiking and fitness. When I workout in the mornings, it helps me start my day right, clears my mind and improves my overall wellbeing. When the pandemic started, I would go on a lot of walks just to get out of the house. It also gives you time to think of ideas and get creative.
I also enjoy spending time with my children and family, playing football or golf with friends and just generally being outdoors. It puts me in a good mood.
Future aspirations?
I previously studied to become a chartered accountant so I’ve considered continuing my studies as it can open many doors for me. It would also complement our current offering at Headway Wealth becomes we don’t have taxing services in-house. I also love broadening my knowledge and experience so this would be a great opportunity for me from a professional perspective.
Best advice anyone has given you?
Don’t compare yourself to others. After I dropped out of university, my friends were progressing in their careers at a faster rate than I was which led me to question myself a lot. The reality is that everyone has a different journey, there’s no blueprint on where you need to be at a certain age. It wasn’t until my mid 20s that I figured out where I wanted to be!
What is the most valuable financial tip?
Be realistic and always over budget on expenditure. Everyone needs to think of the worst case scenario and save more than you anticipate so you avoid any surprises.
Plan for the worst, hope for the best!
Do you have any advice or tips for someone considering a role in this industry?
Finance is a critical aspect of any business no matter how you look at it. However, there is a stigma around finance and accounting. People assume that it is boring and rigid, that you just crunch numbers and don’t interact with others but there is so much more to it.
In my existing role, I am able to get creative with how I showcase data in a visually engaging way. I genuinely enjoy playing with excel to create graphs and reports that tell the “story” in a compelling way. I also deal with different departments within the business and get to connect with others on a frequent basis.
