Prateek Jain: Formulating Effective Strategies To Steer Businesses Through Financial Challenges | CEOInsights Vendor
 Prateek Jain: Formulating Effective Strategies To Steer Businesses Through Financial Challenges

Prateek Jain: Formulating Effective Strategies To Steer Businesses Through Financial Challenges

 Prateek Jain,  CFO

Prateek Jain


The roles and responsibilities of the Chief Financial Officer(CFO) have significantly changed during the past few decades. Earlier, a CFO’s duties were restricted to maintaining the company's accounting records, financial reporting, and ensuring compliance with the relevant regulations. Given the constantly shifting corporate environment, CFOs of today are responsible for the success and direction of the enterprises.In addition to formulating effective financial plans for the organization, Prateek Jain, CFO of NAM India, is equally engaged in providing tactical and strategic guidance in driving organization’s growth & strategy. He also plays an instrumental role in expanding NAM India’s international footprint.

As a multifaceted personality, Prateek is a Chartered Accountant, Company Secretary, and Cost Accountant. Prateek has worked in reputed multinational and domestic firms before taking on the role of CFO at NAM India in 2013.

Prateek Jain engages in an interactive session with the CEO Insights Magazine. Here's the highlights from the interaction.

Give us a brief about your professional journey. As per your experience, what elements you consider while developing an efficient financial plan for the company?
I have started my academic journey at Kendriya Vidyalaya (Udaipur) and pursued B.Com (Honours) from Mohanlal Sukhadia University. Along with graduation, I completed Cost Accountancy and Chartered Accountancy, and a year later became a Company Secretary too. To hone my skills further, I completed the Executive programme on Leadership, Business Administration and Management from Wharton (University of Pennsylvania) in 2019, and the Advanced Management Programme from ISB, Hyderabad, in 2010.

With regards to your second question, we are in a business where we are completely dependent on the capital markets, and in recent years, these factors have lent a lot of volatility and dynamism to business operations. In terms of financial planning, we remain
prepared for contingencies by employing different strategies. PDCA (plan, direct, check, action) is a key underlying mantra to all our financial strategies and plans.

What has been your success mantra in achieving the various professional milestones so far?
God has been very kind to me. Coming from a humble background, I was fortunate to have benefitted from the academic and professional opportunities. I was one of the youngest corporate leaders in my initial stints, and became CFO at an early age. These experiences provided me with the opportunity to think and act like a leader, guide and execute critical projects, and more. That's where I started thinking more strategically, and I would say, more holistically, and not just from an accounting purview. The 'ability to look beyond the obvious' is a success mantra that I deeply believe in.

At times, the leader has to act a little more autocratically, he should listen democratically to all the members of the team and take all the feedback, but when it comes to decision making, he has to lead by example and be autocratic

What are the technology trends you are planning to bring into the company?
Today, the asset management sector is faced with a dynamic and ever evolving environment. Within the changing contours, I firmly believe in the idea of ‘disruption’. Whether it is in the sphere of product innovation, digital infrastructure, improving efficiency of distribution channels, we, at NAM India, work towards continuously ‘disrupting ourselves’. We were the first AMC to come out with a visa-enabled card, which can be used directly with your MF investments. Secondly, we were the first to come out with an instant redemption scheme, wherein any investor can redeem funds with a thirty-minute service guarantee. We have been working with personalized campaigns via Adobe, and this is another radical partnership which will help us deliver several firsts in India.

What are the traits you look for in your team? What are the methodologies you follow to lead your team?
We constantly encourage our colleagues to think outside the box because the world around them is changing, and they need to keep a
keen eye on the ever evolving environment. They must accept the changes that are occurring, adapt to them, adopt new technologies, and perform intellectually. So, if they don't do all of this they, and by extension organizations that they work for, will simply perish.

You can't have just one style of leadership. One needs to be democratic at times and, autocratic at others because you need to guide your team constantly. You need to have empathy with your team members, participative with the other business leaders and ultimately, transformational when working with the CEO. At times, the leader has to act a little more autocratically. He should listen democratically to the members of the team and take all the feedback, but when it comes to decision making, he has to lead by example and be autocratic.

Tell us about the future destination that you are planning to move towards.
I haven't yet thought about it. So long as I am enjoing my job, and the opportunities and challenges it brings about, I have my hands full. Also, there are novel ideas that I want to implement, and I'll keep working in that direction. Over the years, I've been involved in all major discussions, not just as a CFO or an accounting professional, but also more from a general management and strategic perspective. I sit on the Board of the offshore subsidiaries and various committees instituted by NAM India’s Board, as well as spearhead the ESG initiative in the company. In this direction, we have taken a lot of initiatives towards CSR. Besides, we've recently begun working on establishing an Innovation Hub, where I'll lead a team of exceptionally talented and motivated professionals. I remain excited by taking unusual paths, and executing on inventive ideas, towards adding further value to the organization as well as myself.

Prateek Jain, CFO, Nippon Life India Asset Management
Prateek is an empathic leader with extensive experience in financial planning, accounting, and taxation.As the CFO of NAM India, Prateek is working tirelessly to maintain the financial strength of the company.

Quick Facts
Hobbies:Travelling & reading books
Favourite Cuisine:Japanese
Favourite Book:The Seven Habits of Highly Effective People
Favourite Travel Destination: Mountains, especially the Himalayas
Awards & Recognition:
•Most influential CFO by CIMA in 2015.
•Best CFO for the Financial Sector by ICAI in 2016.

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