My transitioning from finance to tech driven by desire for broader impact- Ifeoma Taylor

Taylor
In a world where the finance and technology sectors are increasingly intertwined, Ifeoma Taylor stands out as a beacon of inspiration. With a robust background in traditional finance, she has successfully transitioned to becoming the Vice President of Finance at 54gene, a product-led technology company in the health tech sector. Her story is one of personal achievement and a guide for finance professionals looking to make their mark in the evolving landscape of finance and technology. I had the opportunity to sit down with Ifeoma to discuss her journey, her insights, and her advice for aspiring finance professionals.

Can you tell us about your early career and what led you to finance?

Growing up in Jos, Plateau State, my early life was marked by significant challenges, including limited access to basic amenities. Despite these obstacles, I was determined to pursue a career in finance. A turning point came when my family relocated to Lagos after a violent conflict in Jos. This move offered me a fresh start and an opportunity to channel my energy into academic excellence.

I earned two First Class Honours bachelor’s degrees, a Master’s degree with distinction, and a Doctorate in Finance. These academic achievements laid a solid foundation for my career and were recognized with several prestigious awards, such as the Best Overall Graduating Student at the University of Lagos and the Best Master of Science Graduating Student at Edinburgh Business

Tell us about your transition from traditional finance to a product-led technology company like 54gene
Transitioning to a tech company was driven by my desire to make a broader impact. At 54gene, I saw an opportunity to leverage my finance expertise in a new, dynamic environment. The health tech industry, especially during the COVID-19 pandemic, presented unique challenges and opportunities. My role involved leading the fundraising effort, which secured $25 million in Series B funding, and developing innovative financial models to support our operations. It was a significant shift from traditional finance, but it allowed me to apply my skills in new and impactful ways.

What advice do you have for finance professionals looking to transition into the tech industry?
The key is to be adaptable and open to learning. The tech industry moves quickly, and you need to be comfortable with change. Understanding the specific financial needs of a tech company is crucial. For instance, at 54gene, I developed a pricing model and partnered with tech teams to build a dashboard that managed the supply and demand of COVID-19 test kits. This required a blend of financial acumen and technical understanding. My advice is to seek out opportunities to learn about the tech side of the business, whether through formal education, online courses, or on-the-job learning.

What qualities do you believe are essential for finance professionals to stand out in their roles?
First and foremost, dedication to excellence is vital. This means continuously improving your skills and knowledge. Strategic vision and innovative thinking are also crucial. You need to be able to foresee industry trends and adapt accordingly. At 54gene, my ability to plan for the future and embrace new ideas helped drive substantial growth. Additionally, mentorship is incredibly important. I have been recognized by the ACCA Women’s Network Nigeria for my commitment to mentoring others, which has been immensely rewarding. Sharing your knowledge and helping others grow not only benefits them but also enriches your professional journey.

Can you share some specific challenges you faced and how you overcame them?
One of the biggest challenges was leading the fundraising process during a global pandemic. It required a clear and compelling business case, effective communication with investors, and a robust financial strategy. The success of this effort, securing $25 million in Series B funding, was a testament to the power of strategic planning and teamwork. Additionally, developing a dashboard to manage the demand and supply of COVID-19 test kits was a complex task that required collaboration across multiple teams. Overcoming these challenges involved a combination of financial expertise, technical understanding, and strong leadership.

What should finance professionals look for in their next role to ensure they can stand out and make an impact?
Look for roles that offer opportunities for growth and learning. Being in a dynamic industry like tech can provide a steep learning curve but also a chance to make a significant impact. Ensure that the company’s values align with your own and that there is a culture of innovation and collaboration. It’s also important to seek out roles where you can bring something unique to the table, whether it’s a specific skill set or a fresh perspective. Lastly, don’t underestimate the importance of networking. Building relationships with colleagues, mentors, and industry leaders can open doors and provide valuable support throughout your career.
As a thought leader, what final piece of advice would you give to aspiring finance professionals?
Stay curious and never stop learning. The finance industry is evolving, and staying ahead requires a commitment to continuous improvement. Embrace challenges as opportunities to grow and don’t be afraid to step out of your comfort zone. Mentorship is also crucial; both seeking mentors and becoming one can provide invaluable insights and support. Finally, be strategic in your career choices and always look for ways to add value in your role.

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