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‘Our key focus is to make finance faster, sharper, and more efficient’
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Ruth McNamee, finance transformation director at PwC, shares how technology and AI is changing the finance landscape.
Having spent 14 years working in finance transformation at PwC, first stepping through its doors as a summer intern, before joining its graduate programme, Ruth McNamee has seen the nature of her work change over the years. Now a director, her team works with CFOs and finance teams to redesign how they operate. When she first joined PwC, consulting was a growing practice. Today, Ruth reflects on just how much the market and the business has changed and advanced in the years since.
“Our key focus is to work closely with Finance teams to make finance faster, sharper, and more efficient,” she says. “I work with Irish-owned family businesses, up to multinationals around the globe. Part of our job is to stay ahead of the market, so we need to understand the changes that are coming. Recently, we’re seeing significant advances in technology and AI.” Ruth sees her clients grappling with global forces such as geopolitical instability, climate change and the rapid pace of technology change. They have more data than ever, but the real challenge is turning it into insight. Knowing how to harness that data effectively has become critical in a world that’s shifting faster every year.
“We’ve seen with the rise of technology and AI, demands on Finance are becoming more pressurised in terms of having to deliver numbers quickly,” Ruth explains. “You can’t spend your finance function’s time looking backwards and reviewing the numbers. You need to look forward and be one step ahead of the business at all points. I’d say that’s definitely one of the key challenges that I’m seeing finance functions grapple with today. How do you use all the data you’re sitting on to bring the best insights to your business, to be the source of truth on the numbers and explain the story behind what the numbers actually mean.”
Having worked her way up to the position of director, Ruth explains that as a naturally more introverted person, she has gradually built up her confidence over the years, with help from others along the way. “I’ve been very lucky to have some great mentors, both men and women who pushed me to grow and encouraged me to take new opportunities,” she says. She has also been keen to learn from every experience that she’s had.
“I think you have to back yourself and try something different, even if it’s out of your comfort zone. If you don’t do it, you’ll never know. And I think each time you do something like that, it builds your confidence.” She also appreciates that the diversity of PwC means she has had different leadership styles to learn from over the years, noting that people from varied backgrounds and with different personalities all bring their own strengths to leadership roles.
We’ve seen that with the rise of technology and AI, the bar for finance teams has risen. There’s now greater pressure to deliver numbers quickly and to think ahead – always staying one step ahead of the business.
Ruth has also expanded her horizons by taking opportunities within PwC to work abroad, including two years in the Middle East, as well as six months in Paris, time in the US, as well as travelling to work on particular projects. This, plus the constantly evolving nature of her field means that Ruth has faced many new challenges and found opportunities for growth throughout her career.
Even working within PwC Ireland, there is great variety in her role. “Every single day is different,” she explains. Not only does she work with a huge variety of clients, but the needs of each are unique. “There are always new opportunities, new challenges, and part of our job is to always stay ahead of the market.”
Ruth explains that part of what drives her is a desire to always do her best, even more so when at the head of a team. “I think that I do have a responsibility to do the best by the people on my team, to make sure they’re getting the right opportunities, and the chances to grow. I want to make sure I pass on what people have given to me over the years. I also think it’s really important that every year we get new graduates into the team – they bring a fresh perspective.”
Her key advice for any women considering this field includes saying yes to opportunities, even if you don’t feel ready. “That’s usually where you find the best growth opportunities. I would also say, surround yourself with the right people. Stay close to your mentors and those who lift you up. Relationships for me have been so important, and the people around you will shape your career.” Lastly, she advises, don’t be afraid to seek out advice and constructive feedback. “Ask for feedback so that you’re giving yourself the chance to learn and develop. I think people should be asking for it more, because the right feedback is what helps you move forward.”
PwC aren’t new to private business, but they might be new to yours. From growth to legacy, they deliver tailored audit, tax and consulting solutions to protect what you’ve built and power what’s next. Find out more at pwc.ie.
Photography by Kieran Harnett
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