Background

Last night we announced the arrival of Full Stack Modeller and the concept of being a Full Stack Modeller.

If you've never heard of the term then you have come to the right place to find out more. 

My co-founders Kenny Whitelaw-Jones, Myles Arnott and Giles Male strongly believe that there is more to financial modelling than just Excel, Financial Modelling and Technology, even though the debate may show otherwise.

The ability to influence key decisions and decision makers is where the value of financial modelling really hits home. Whilst we might use an Excel model (or other tools) to do this, this is not the core value proposition of financial modelling.

We are currently at the dawning of the new age where the world is now more familiar with the term modelling than ever before thanks to the pandemic and epidomogists doing their bit of modelling.

At the same time, businesses are experiencing this uncertainty and cash flow pressure on  old ways of forecasting and predicting profits on a growth rate (compared to driver based)  basis is simply not good enough.

This article will cover the key skills that are needed during this time and also provide links to where you can find out more.

In the mentime here is a link to the debate from last night.

So what is it?

A full stack modeller is a full complement of skills required by those who forecast financial results looking forward to influencing decision making. It is the holistic capability of a well rounded finance professional who is able to:

1. Communicate, influence and engage with non technically people in a way that shows empathy and self awareness amongst other key soft skills;

2. Use Excel really well with shortcuts, efficient and well structured formulas and follow a financial modelling standard;

3. Demonstrate strong fundamentals of building a 3-way model

4. Apply cutting edge technology and tools than enhance what is typically a very manually intensive process that is visually not that appealing

The full stack modeller journey is about moving through these key capabilities and developing them at your own pace whenever you have the time. 

A community that is there to support you through this journey. It typically takes decades to master these skills which go beyond Excel but now you can gain from the experience of others who have made those mistakes before.

Why should I become one?

In any discipline (sport, academics, cooking, modelling) you want to learn from the best, but also experience this learning journey with your teammates, fellow scholars, chefs and Excel lovers.

This is not about simply blindly following some experts or competing against the top 1% in the world, but truly supporting and helping each other develop and grow to be the best you can be. 

Not being the best in the world or the best in the country, just the best you can be and working well with others is how you achieve success. Not as a lone wolf.

So when it comes to being a financial modeller you need to think about how you can really be the best modeller you can be.

This is not just about using the best technology, shortcut keys, having strong fundamentals and using Excel really really well by following standards on building 3-way models.

This is about not forgetting all the other things (that are equally important) that nobody teaches you when you go on an Excel course.

Your mindset, self-awareness, model risk governance, value pricing your work, influencing and communicating the results of your model to key decision makers.

This is your internal battle to be the best that you can be in an industry that is hungry for your talent.

There couldn’t be a better time to grab this skill than now.

Companies are crying out for this talent and in desperate need of those that can build good models within FP&A and other key functions in the finance and accounting industry.

Building scenario analysis and simulations for better decision making in this uncertainty is hugely important and valued.

What does it take to be one?

To become a full stack modeller you have to be competent in the 4 areas mentioned above. 

The only problem is that most of the training you see out there is likely to cover items 2 and 3 almost entirely. 

The focus is generally on Excel and financial modelling concepts, but ignores the bigger picture around soft skills and the advancements in technology.

But, this is also not about just doing a training course, getting the completion certificate and then being done.

This is a lifelong learning journey. The hero's journey as you evolve and improve over time.

It is about constantly being aware of what is changing in the financial modelling sector and also being given the right information (not the marketing crap you see) in order to stay up to date.

As you master one dimension, suddenly things change leaving you exposed and feeling you need to do more again.

Experimenting, failing, learning and getting up and trying again. 

Taking a growth mindset of “not yet” you will get there with some support of fellow modellers and experts in the field.

Where can I find out more?

Come visit our website and if nothing else you will receive a free self assessment to see how far you are along that journey to being a full stack modeller.

You have nothing to lose so check it out and become more self aware of your opportunities to expand your skills into a Full Stack Modeller.

Our first cohort intake launches on the 9th of November and closes on the 13th of November, so make sure you don't miss out.

We will only be doing 4 in-takes per year, if you miss out you will be on the priority waiting list for the 2nd intake in 2021. 

Stay safe and see you soon.