The University of Sussex Business School recently held its fourth CIMA networking event, further solidifying its partnership with the Chartered Institute of Management Accountants (CIMA). Students, practitioners, and academics were eager to share knowledge and discuss the future of the finance profession.

Kavita Thomas, FP&A Manager at Tillo, shared her story of transitioning from Sussex to a flourishing career in finance. Her narrative showed the power of determination and the value of the CIMA qualification in shaping her career. Matthew Walsh, Chartered Management Accountant, brought over 25 years of experience offering practical insights and career advice. His discussion underscored the importance of continuous learning and adaptability in the ever-evolving finance landscape. Antony Fletcher, Student Recruitment Manager at AICPA and CIMA, provided a comprehensive overview of the CIMA qualification, emphasising its global recognition and the myriad opportunities for aspiring finance professionals. James Prior, CFO at SHI International Corp, shared his extensive experience in leading finance roles at top tech companies, highlighting the critical role of strategic financial management in driving business success. Simon Ritchie, Founder & CEO of Blox, rounded off the morning session with his entrepreneurial journey, inspiring students to think beyond traditional career paths and consider the dynamic world of startups and innovation.

Shaping the future of finance

Irena Teneva, Associate Director at AICPA-CIMA Research & Development, presented groundbreaking research that is shaping the future of finance. The profession is changing, and the scope of finance work is expanding rapidly. Finance professionals are moving beyond the boundaries of traditional roles to connect the dots, provide insights, and generate and preserve value across the organisation. Interactions with finance leaders around the world highlighted critical factors and proficiencies that will not only shape the future of finance but are deemed necessary to the evolution and advancement of the profession.

To be successful in the future of work, finance must also:

• Adapt to new and changing roles
• Master digital transformations
• Foster business partnering
• Integrate sustainability and environmental, social and governance (ESG) objectives within the evolving workplace.

Massimo Contrafatto, Reader in Accounting at Sussex, and Sumohon Matilal, Senior Lecturer in Accounting, discussed integrating sustainability and ESG objectives into financial practices. Their perspectives highlighted the growing importance of ethical considerations and sustainable practices in finance. By examining the personal identity of accounting professionals, they discussed the factors that influence their approach to incorporating these values into their work.

Sarada Rajeswari Krishnan, Senior Lecturer at Sussex, concluded the session with an exploration of future trends in finance specifically focusing on the growing demands for ESG skills in the finance industry and curriculum redesign initiatives undertaken by professional accounting bodies such as CIMA to meet these demands.  

The event highlighted the ongoing transformation of the finance profession. It emphasized the need for finance professionals to foster strong business partnerships and integrate sustainability and ESG objectives into their work.