The secrets to navigating a CAREER in FINANCE
Amel Chouikh: Head of Finance (France / MEA) - Uber
In the latest episode of The Dollar Diaries, we had the privilege of hosting Amel Chouikh, the Head of Finance for France, the Middle East, and Africa at Uber. Amel's journey through the finance sector is inspiring and offers valuable insights into the complexities of financial management in a rapidly evolving tech landscape. This blog post will delve into the key themes discussed during the episode, exploring Amel's career trajectory, the intricacies of finance in the tech industry, and the broader implications for businesses today.
A Journey into Finance
Amel's path to becoming a finance leader at Uber was anything but conventional. Initially, she had aspirations in the film industry, influenced by her family's background in media. However, after realizing her talents lay elsewhere, she pivoted towards finance, pursuing a master's degree in entrepreneurship. This shift began her journey into finance, where she would eventually thrive.
Her first significant role was at Deloitte, where she worked on consulting for financial system implementations. Amel described her time at Deloitte as a rigorous learning experience that did not fully resonate with her aspirations. The competitive nature of consulting was challenging, and she soon recognized that her true passion lay in understanding the financial mechanisms that drive businesses.
The Importance of Networking
One of the standout themes from Amel's narrative was the importance of networking in career advancement. After her stint at Deloitte, she leveraged LinkedIn to explore new opportunities, ultimately leading her to General Electric (GE). Amel emphasized the significance of maintaining good relationships when transitioning between jobs, as the professional world is interconnected. Her advice to leave every position on good terms is a testament to the value of networking in a career.
At GE, Amel faced a rigorous assessment process that included multiple interviews and case studies. Despite her initial anxiety, she successfully secured a position that would further her career in finance. This experience underscored the importance of preparation and adaptability in navigating the job market.
Transitioning to Tech: A New Challenge
Amel's transition from GE to Microsoft significantly shifted her career. Moving from an industrial company to a tech giant presented new challenges, particularly in understanding the business dynamics of the tech industry. She noted that while the core principles of finance remained the same, the context they applied was vastly different.
At Microsoft, Amel had to familiarize herself with cloud technology and its implications for finance. She dedicated considerable time to learning the technical aspects of the business, emphasizing that a strong grasp of the underlying business model is crucial for finance professionals. This commitment to understanding the business environment is a recurring theme in Amel's career, highlighting her proactive approach to professional development.
The Role of Finance in Business Growth
During the episode, Amel articulated a fundamental belief about the role of finance in organizations: finance should not merely be a controlling function but a partner in driving business growth. She emphasized that finance professionals must understand the business they serve to provide meaningful insights and support strategic decision-making.
Amel's perspective aligns with a broader trend in the finance industry, where finance teams are increasingly seen as strategic partners rather than just number crunchers. This shift requires finance professionals to develop strong relationships with other departments, fostering collaboration and ensuring that financial considerations are integrated into business strategies.
Managing a $2 Billion Portfolio
As the Head of Finance for Uber in the France, Middle East, and Africa region, Amel manages a substantial portfolio, overseeing gross bookings of $2 billion annually. This responsibility entails tracking revenue, optimizing costs, and ensuring that the marketplace operates efficiently.
Amel explained the intricacies of managing this portfolio, which involves understanding the marketplace dynamics, including driver incentives and customer promotions. By analyzing key performance indicators (KPIs), she and her team can assess the business's health and make informed decisions to drive growth.
The Financial Landscape of Uber
In discussing Uber's business model, Amel highlighted the company's three main segments: mobility, delivery, and freight. Each segment presents unique financial challenges and opportunities. For instance, the mobility segment focuses on transporting people efficiently, while the delivery segment aims to provide seamless food and goods delivery services.
Amel's role involves ensuring that each segment operates profitably while also investing in innovation and sustainability. She noted that Uber's commitment to transitioning to electric vehicles (EVs) is a critical aspect of the company's long-term strategy, aligning with broader trends in sustainability and environmental responsibility.
The Impact of Market Perception
Most of the episode discussed how market perception affects Uber's stock valuation. Amel explained that the stock market evaluates companies based on their financial health, growth potential, and industry dynamics. Despite Uber's strong financial performance, market sentiment can sometimes lead to undervaluation.
Amel elaborated on the factors influencing market perception, including the unpredictability of the tech landscape and the potential impact of autonomous vehicles on the mobility market. She emphasized that while financial metrics like EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) are essential for evaluating performance, they must be considered alongside broader market trends and expectations.
Sustainability and Corporate Responsibility
Sustainability emerged as a crucial topic during the episode, with Amel discussing Uber's commitment to reducing its environmental footprint. She highlighted the company's goal of transitioning to a fleet of 100% electric vehicles by 2026, which reflects a growing emphasis on corporate responsibility in the tech industry.
Amel acknowledged that achieving sustainability goals requires collaboration among stakeholders, including regulators, infrastructure providers, and drivers. The success of such initiatives hinges on creating a supportive ecosystem that enables the adoption of electric vehicles while ensuring that drivers can still earn a viable income.
The Future of Finance in Tech
As the episode concluded, Amel shared her thoughts on the future of finance in the tech industry. She emphasized the need for finance professionals to remain adaptable and continuously update their skills to keep pace with technological advancements. Integrating data analytics and artificial intelligence into finance functions is reshaping the landscape, and finance professionals must embrace these changes to remain relevant.
Amel's journey from aspiring filmmaker to finance leader at Uber is a powerful reminder of the importance of adaptability, networking, and a deep understanding of business dynamics. Her insights into the evolving role of finance in tech highlight the need for finance professionals to be proactive, collaborative, and forward-thinking.
The episode featuring Amel Chouikh provided a wealth of knowledge and inspiration for anyone interested in the intersection of finance and technology. Her experiences and insights underscore the importance of understanding the broader business context, fostering strong relationships, and embracing sustainability in today's corporate landscape.
As the finance industry evolves, professionals must remain agile and open to new opportunities. Amel's journey exemplifies the potential for growth and success when one is willing to adapt and learn in an ever-changing environment. Amel's story serves as a guiding light for those looking to navigate their own careers in finance, illustrating the power of perseverance, networking, and a commitment to understanding the intricacies of business.