Rachel Rice, VP, CFO – US Operations of Padilla
As VP, CFO of US Operations at Padilla, Rachel Rice draws on her past international integration experience to guide and optimize the corporation under its Canadian holding company. She has led the backend integration of operations for a consistent ERP, and IT HR processes involving four different LLC’s. Rachel is able to navigate the waters of the complex structure and lend stability and clear direction. She is also focused on maximizing talent and leveraging capabilities of the national team in this new era of remote work. Rachel is a well-respected board member with several board roles to her credit. She is currently on two boards including serving as President of FEI. Rachel’s track record of success made Scouts Talent curious to learn more…
If you could try a different job for a day, what would you choose?
If I hadn’t pursued a career in finance, my next choice would have been Law. Dreaming big, I would choose to be a Supreme Court Justice for a day.
What advice would you give someone starting out in your industry?
Fortunately, there are numerous paths one can take in the field of finance. If a particular area doesn’t resonate with you, it’s relatively easier to pivot and explore new opportunities. My key piece of advice is to ensure that the work you do is both impactful and energizing; otherwise, it may not be worth pursuing. Don’t be afraid to try different roles and sectors within finance.
Early in your career, gaining diverse experiences can help you identify what truly excites and motivates you. Building a strong professional network is crucial in finance. Attend industry events, join professional organizations, and connect with peers and leaders in the field. Networking can lead to job opportunities, partnerships, and valuable collaborations.
What is your mantra?
Don’t take things personally. It’s business and leaders are doing the best they can with the resources and information available to them. This emphasizes the need to separate personal feelings from business decisions, recognizing that leaders often face complex challenges and must make difficult choices based on the best information and resources at their disposal. By adopting this mindset, one can foster resilience, maintain objectivity, and contribute more effectively to the organization’s goals.
How do you get yourself out of a slump?
I turn to the practice of gratitude to shift my perspective and lift my spirits. It’s all too easy to get bogged down by setbacks and challenges, focusing on what hasn’t gone according to plan. However, I have discovered that taking a moment to reflect on the positive aspects of my life can be incredibly rejuvenating.
One of the tools I use is a folder where I collect positive thoughts, comments, and feedback from others. This folder serves as a tangible reminder of the good things in my life and the impact I have had on those around me. Whenever I feel overwhelmed or disheartened, I revisit these notes to remind myself of the many moments of kindness, appreciation, and success I have experienced.
What companies or leaders do you admire?
I am particularly inspired by leaders who demonstrate unwavering optimism and a relentless drive to solve problems. These leaders set a powerful example, fostering a culture of positivity and resilience that permeates the entire organization. Their ability to remain hopeful and proactive in the face of challenges encourages others to adopt a similar mindset, creating a collaborative and innovative work environment.
Companies led by such visionary leaders often thrive because they cultivate an atmosphere where creativity and problem-solving are highly valued. This approach not only drives the organization forward but also empowers employees to take initiative and contribute meaningfully to the company’s success.
In essence, the leaders I admire are those who understand that their attitude and approach to problem-solving can inspire and galvanize their teams, leading to a more dynamic and successful organization.
What has been the biggest shift you’ve noticed in your industry in the last decade?
One of the most significant shifts I’ve observed in the accounting and finance industry over the past decade is the declining number of students entering the field. This ‘funnel problem’ is poised to create unprecedented challenges in the near future. The implications of this trend are multifaceted and far-reaching. Including: talent shortage, aging workforce, increased workloads, educational shifts and technological advancements.
The industry has seen significant technological advancements, including automation, artificial intelligence, and data analytics. While these technologies can help mitigate some of the talent shortages by streamlining processes and increasing efficiency, they also require a workforce with new skill sets. The challenge lies in attracting and training professionals who can leverage these technologies effectively.
Who has been most instrumental in your career?
One individual who has been most instrumental in my career is Michael Werch, a startup CEO. He believed in my potential to help build a company from the ground up, guiding it through continuous high growth for eighteen years, and eventually selling it to a strategic international buyer.
Michael’s unwavering confidence in my abilities provided me with an extraordinary opportunity to be part of something truly transformative. His mentorship and leadership were pivotal in shaping my professional journey. Under his guidance, I was able to navigate the complexities of a rapidly growing startup, learning invaluable lessons about resilience, innovation, and strategic thinking.
While immersed in the day-to-day operations, it was easy to overlook the magnitude of what we were achieving. However, in hindsight, I realize that being part of such a dynamic and successful venture was a rare and remarkable experience. Michael’s vision and trust in my capabilities allowed me to grow both personally and professionally, pushing the boundaries of what I thought was possible.
What is your go-to celebration meal, drink or tradition?
Anywhere that has an amazing patio and Sangria!
