FIVE MINUTES WITH….LUCIA VILLAMOR

Celebrating International Day of Accounting with David Cameron, Vice President of the LCASS

International Day of Accounting is an annual celebration to commemorate the publication of Luca Pacioli's book on double-entry bookkeeping in 1494 which is the bedrock of modern day accounting. In the modern day, International Day of Accounting is about the appreciation of the crucial work Accountants do and the recognition of their importance for business longevity and success. This year, we caught up with David Cameron of EY's Restructuring Team and Vice Presidentof the Leeds Chartered Accountants Student Society (LCASS) to gather his advice for those in the early days of their accounting career and insights about all things ACA.Starting a Career in Accounting 1.What advice would you give to someone just starting their career in accounting?I would say the sooner you realise that all of the exams require a fair amount of work and can’t be blagged (no matter how easy you found A-levels or university), the better. ACA is tough but I think it is certainly passable for most people, as long as you put the work in. The next big piece of advice I would give is if you go into the initial mundane tasks, when you first start, with a positive can-do attitude, it goes such a long way. The people who go into tasks with that outlook often find they move onto much more interesting tasks, quickly. Finally, the last tip I’d give to anyone starting out in accountancy is start building your network straight away, not only will it benefit your career in the end when everyone climbs the ranks together, it is even more beneficial from a social point of view at the junior levels. People you meet at networking events will become your friends and just enhance your overall experience when you are starting out. 2.How can recent graduates make themselves stand out to potential employers?It sounds cliché but I think showing your personality in an interview and just being yourself is something people feel as though they shouldn’t do. I really believe that that’s by far the easiest way to stand out. The majority of applicants will also have a great CV, the way you will stand out is by the employer thinking that they will enjoy working with you every day. Picking an ACA Specialism 3.Can you share some insights on the different specialisms available whilst studying ACA?Audit and Assurance:Examining financial statements and processes to verify accuracy and provide confidence to stakeholders through regulatory compliance. Tax:Advice on tax planning, compliance or strategy, dependent on what department of tax you’re in. Transactions:This could be a role in Mergers & Acquisitions/Corporate Finance, Transaction Due Diligence or Restructuring. 4.How did you decide on your own specialism, and what influenced your choice?I work within the Restructuring service line and absolutely love it. I’d always had a big interest in how businesses work operationally, and Restructuring allows me to assist businesses through times of distress with the hope that we can help to provide a solution to save/improve the business. Being in the service line I am in, it has allowed me to think outside the box and use problem solving at work as there is never the same solution for each business in a time of crisis, with solutions ranging from running an accelerated sale process of the business to possibly refinancing its existing debt. What the ACA Has to Offer5.What are the key benefits of pursuing the ACA qualification?First and foremost, the comprehensive skillset you acquire through completion of the ACA qualification shouldn’t be overlooked as it allows you to apply knowledge you have learnt from topics/exams usually unrelated to your usual job role to situations where it is required or even personal situations. I believe that the practical work experience you gain (at least 450 days of practical work experience) whilst completing your ACA enables you to improve your technical skills at a far quicker rate as you are utilising knowledge you have learnt at work on a daily basis, to better your understanding of the technical aspects, something which you don’t get to do at university or school. I would say the largest benefit is realistically the career flexibility and opportunities it allows you to have access to. As mentioned above, there are so many different avenues that you can go down through having an ACA qualification. If you don’t like one role, you can quite easily try something different. 6.How does the ACA prepare accountants for the challenges both inside and outside of the profession?As touched on above, the comprehensive knowledge gained from an ACA qualification is fantastic and can be applied to so many different scenarios outside of an accountancy role, such as personal tax planning or even the strong financial acumen gained to assist with running your own business. ACA also of course reiterates the importance of ethical behaviour and integrity throughout your studying period which helps instil such traits into students. Learnings from this will help students make correct decisions at work or even in their own personal life when faced with difficult choices. Personal Journey into Accountancy 7.Can you tell us about your journey into accountancy and what inspired you to choose this career?I joined the EY Leeds Restructuring team back in 2020 via the school leaver programme. I probably got unlucky with the year I joined given we were in the midst of the pandemic, however, what I was certain of even back then was no matter what, I still just wanted to get into work rather than continue full time education. I was keen on the potential qualifications I would come out of university with; however, I knew that I had always much preferred working throughout school than the education side of things. I was drawn to the Restructuring apprenticeship due to the element of problem solving involved and the opportunity to leverage commercial skills. Admittedly, I wasn’t overjoyed about the prospect of 15 ACA exams, however, I knew the end goal was worth it and provided some incentive. Four years later and I have completed my ACA and my apprenticeship. I’d recommend this path to many, for the experience and level of qualification I’ve been able to obtain by such a young age, coupled with the opportunity to meet so many people that will be mates for life. 8.Looking back, is there anything you would have done differently in your career path?Nothing I would change that’s in my control. It would’ve been ideal to have joined at a time outside of the pandemic as it did effect the social side of things for the first year or so. To find out more about the ACA click here.Looking for your next career move in finance or accountancy? At Sharp Consultancy, our expertise lies in matching your potential with the perfect temporary, interim, or permanent position. With a well-established presence in Leeds and Sheffield, our seasoned team of consultants extends their services across Yorkshire and beyond. Don't wait for opportunity to knock, reach out to us TODAYand let's chart your career path together.

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Diversity and inclusion are essential for today’s modern business as the variety of people from different backgrounds, specialisms, cultures and experiences ensure a balance of outlooks and voices that can help shape an organisation’s culture and support its recruitment and retention programme.

From increasing creativity and innovation to creating happier employees and boosting productivity, the importance of a clear and proactive diversity and inclusion strategy is fundamental. Recently Executive Director Lee Sweeney caught up with Lucia Villamor, Partner – Investor Relations at Endless, who he placed, to discuss how the private equity investor’s approach has had a positive impact on her career to date.

Lee Sweeney (LS): Firstly, congratulations on your well-deserved promotion. What does your new role involve and how has your career developed?

Lucia Villamor (LV): Thanks Lee. My role at Endless mainly consists of managing relationships and communications with existing and potential investors in our Funds and project manage our fundraising processes. I studied Law at University in Spain but I did not fancy a legal career so ended up moving to the UK and doing a post graduate degree in Business Administration at the University of Leeds. I joined Deloitte straight from university where I spent three years in the Audit team and qualified as a Chartered Accountant. Following this, I joined the Commercial Due Diligence team – I was there for another year before moving to Endless in 2008. Initially, I worked within the Investment team where I had both portfolio and transaction responsibilities, before moving across to Investor Relations in 2015.

LS: Having gained experience in a number of different areas, what made you choose this particular career path?

LV: The variety of work in Private Equity was a real draw for me; we get to see a range of different types of companies in what are often very diverse industries and work with management teams that embrace different leadership styles, ambitions, challenges to help transform businesses. Since moving into Investor Relations, I thrive on meeting investors from across the world, understanding their aims and their organisations and helping to generate real value for them.

LS: When you look back to the time when you joined Endless, can you remember what it was that attracted you to this particular role and organisation?

LV: Yes, whilst working at Deloitte, I enjoyed getting under the skin of different businesses and industries during Commercial Due Diligence assignments. We worked mainly for Private Equity businesses advising them on potential targets or helping them prepare existing investments for sale. However, I wanted to see what happened on the other side after the transaction had taken place and the new owner set off to deliver their value creation plan. I had a strong interest in being on the other side of the table and wanted to experience what it would be like to see and work with a business that was being transformed. Endless had a great reputation in the market as an experienced, responsible investor and I liked their ethos of “making businesses better for everybody”.

LS: One thing that has always come across when I’ve worked with Endless, or talk to others in the industry about them, is they have a real and genuine focus upon supporting diversity and inclusion in the workplace. Is this something that you have seen during your time with the organisation.

LV: Absolutely. We have a Diversity & Inclusion team which in the past two years has done fantastic work to bring D&I to the forefront of our agenda. We have worked very hard at reviewing our recruitment practices, we have reviewed our parental leave policies and we have supported a number of industry initiatives such as Level 20 and the 100 Black Interns Program. We also try to promote flexible working and emphasise to the team that we care about results and not hours spent in the office – that really helps people who, for example, may have family commitments, like myself.

LS: How did this approach help you in your career development?

LV: It has made a huge difference; by having a very progressive flexible working policy and a culture where you can have open, honest discussions about your career, I’ve never felt that I’ve had to make the same career versus family compromises that I’ve seen others have to make. When you look at the team page on our website, it is very clear to see the importance the company places on diversity and inclusion and how this is reflected in our people – this in turn encourages others to want to join and be part of a business with a progressive outlook.

LS: What do you think employers need to have in place to support their employees achieve their career goals?

LV: Without a doubt, there should be more emphasis placed upon mentoring and sponsoring to support employees – and this doesn’t necessarily have to be from an individual’s line manager or boss. Often the best mentor/mentoree relationships are developed by those who may not necessarily work closely together on a day-to-day basis but they have skills, experience or an outlook which the other can benefit from. There also has to be an openness around communication – from both sides - particularly when it comes to discussions about career ambitions as well as honest feedback on development areas. Difficult conversations are never the most comfortable for either party involved, however by approaching them honestly and constructively, far more will be achieved in the long run.

LS: Would you say there has been somebody who has supported you as a mentor and how do you feel they influenced you?

LV: I think the value of mentoring is something which should never be under-estimated and is something which, when approached correctly, will have real benefits for both the mentor and the mentoree. I have learnt a lot from our Managing Partner on how he communicates to investors and other stakeholders. We have our own “in-house style” - I think our investors appreciate and respond well to it and he has played a key role shaping this up over the years.

LS: What would you say has been a particular challenge that you have had to overcome and how did the guidance or support that was put in place help?

LV: The move from the Investment team to Investor Relations was a big one and I felt a bit out of my comfort zone at the start. I did a lot of listening and observing and had a lot of support from our two founding Partners whom I learnt a lot from. It made me realise that is good to push yourself into unfamiliar areas sometimes – it’s one of the best ways to learn!

LS: There’s also a real focus upon ‘celebrating success’; is there an achievement that you are particularly proud of?

LV: I agree and it’s so important to celebrate success whether that is something achieved as an individual or as part of a team. It’s also important to support and celebrate the achievements of others. I was very proud of the Endless V fundraise back in November 2020. We hit our fundraising target in 12 weeks in the middle of a global pandemic. We were so pleased with the support from existing and new investors. And from a personal perspective, I was also very proud to be promoted to Partner earlier this year.

LS: If you could offer one piece of advice to someone – regardless of whether they were at the beginning of their career or about to make a move into a senior role – what would it be?

LV: I think whatever stage you are at in your career, this same piece of advice rings true - work as hard as you can and be brave!

Sharp Consultancy specialises in the recruitment and executive search of finance and accountancy professionals within owner managed businesses, national and global plcs and leading venture capital and private equity firms. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for positions throughout Yorkshire and beyond. CONTACT US today to find out more.