Pushing Boundaries: Career after the Big 4

What made you pursue accounting?

Damien: I was not born into a well-to-do family, having grown up with my god family, I was inspired by one of my god sisters who took on accounting which helped advances her career. After many considerations with regard to my future career path, I placed a higher priority on financial stability which was what kept me going in the accounting industry.

Having won internal awards and contests during your time as an auditor in PwC, what was your driving force and how did you manage to obtain a double promotion?

Damien: Personally, I have set my mind to achieve something, I would want to give it my best shot. What makes an individual stand out within the firm is to take initiative and do what others won’t, to achieve what others can’t.

What prompted you to move from PwC to running your own construction company? Are there any transferable skills from practicing accounting and then moving to spearhead a business?

Damien: Having equipped with various skills throughout my auditing career, I was keen to put my business acumen into action. Skills are transferable as auditors are exposed to various companies and operational activities. Auditors look at things from a high-level perspective, which is a transferable skill to a manager role of any company or even making the leap into entrepreneurship.

Looks like you also have some plans on studying for your MBA. Any advice for students planning to undertake their MBA directly after graduating or those in mid-career?

Damien: I look forward to taking my MBA or Masters in Entrepreneurship. I have shortlisted Imperial College London and Cambridge University as my choice of institutions. These renowned institutions accept either a high merit UK degree or a professional qualification as their prerequisites. ICAEW happens to be one of their accepted qualifications.

My personal take on further education is to first analyse the reason to enroll yourself into the respective master’s degree. One of the many reasons could be landing a senior executive position or switching to a consulting career.

Having a plan in mind is important, however, it is equally important to be fluid and adapt to different circumstances. When I left the corporate world, it shifted my mindset from taking an MBA to a Masters in Entrepreneurship. My aim from taking my master degree is essentially to build my network internationally and open overseas opportunities.

What made you choose ICAEW as your qualification?

Damien: If you were to look at getting yourself qualified to be a Chartered Accountant in Singapore there is a membership reciprocity between the Institute of Singapore Chartered Accountants (ISCA) and ICAEW. ICAEW is an internationally recognized qualification and a part of Chartered Accountant Worldwide. As a person who likes travelling, it is a more versatile qualification for me.

What inspires you to be an ICAEW ambassador? Do you encourage students to take up the role?

Damien: I encourage students to take up the role. I was one of the pioneer batches of ICAEW students, so I understand how difficult it is to be studying for the exams because we are mostly self-studying. I wanted to build a student community that allows ICAEW students to network and study together. For instance, we created a WhatsApp group to share personal notes and form study groups. We also host events for ICAEW students where we invite industrial experts to share their knowledge. Recently, we held several seminars which includes personal finance and data analytics.

Do you have any advice for your juniors who are currently studying Accounting?

Damien: Always give your best and do not be afraid to put in extra effort as compared to your peers. Many of us tend to expect great return with little effort. Some people might get lucky, but most people would not. The only sure way is to put your best foot forward.

During your time as an auditor, are there any projects you have undertaken that may pose a challenge initially but eventually it becomes a rewarding experience?

Damien: In auditing, every day is a challenge but also a good learning opportunity. Thinking back, my most challenging period would be the time I was placed under a rigorous assessment for 6 months for my double promotion. There would be times I worked till 3-4 am every day due to the tremendous workload.

At that time, there was a robust change in the documentation of journal entry testing. It was difficult for everybody. I went on to read the relevant IFRS and auditing standards to come up with a template that is being adopted by my audit department. That was a stepping stone for me to achieve my double promotion.

You are currently the Managing Director of Guan Po Construction, and we noticed that while being self-employed you also worked for BNP Paribas for a while. Could you share more about it and do you have any words of encouragement for aspiring entrepreneurs out there?

Damien: After I left PwC and became self-employed, Covid-19 pandemic struck. It affected all businesses negatively. My company is primarily in the construction sector, which was forced to stop operations during Circuit Breaker. In order to pull my company through the financial crisis, I took up a role within BNP Paribas, which is when I decided to enter the banking industry to expose myself to more roles outside of auditing. My piece of advice is that nothing is going to go as planned all the time. As an entrepreneur, one needs to be willing to do whatever it takes to succeed.