James is a global CFO for Lenovo’s Data Center Group. He is in a strategic business unit that drives profit and loss (P&L). His business unit was formed when Lenovo acquired IBM’s X86 Server division in 2014. His task is to transform this BU into a Top 3 global player with a sustainable and profitable business within 24 months. As the CFO, he is involved in all financial matters of the BU and has a seat at the table on strategic discussions.
Q: Could you share more about your experiences as a Vice President & Global CFO Data Centre Group at Lenovo?
I work 12 hours a day and it is filled with back-to-back reviews and meetings. A typical day may start off with long-term strategy reviews such as technology trends &. For the rest of the day, I could be involved in meetings to drive down cost, work on clients’ issues or look at new revenue pipelines. Every week, I meet with my mentees to discuss and share about work-life experience. In this reverse mentoring, I learn from them and their valuable perspectives as millennials, it is a very fulfilling experience for me.
I see my CFO role as more than just someone who looks at financials and numbers. I have to be well-informed in the happenings at Lenovo Data Center group and be present and available on the ground. By being physically present and providing the right solution, Finance becomes a valuable partner to the business.
Q: Why did you choose to pursue a Business degree?
I was attracted to study Business due to my passion for investment & finance. When I was younger, I would buy and sell or barter trade with friends because I have a business-oriented mind. The satisfaction of having a win-win outcome for both parties and resulting in a overall better outcome opened my mind to commerce and trade.
The BBA degree is broad-based and well-rounded. During my school years, there were also modules on information systems to prepare us for the technologically-driven world. It prepared me adequately for my work. The only regret I had was not being able to take a lot of accounting modules as my current role requires me to have a good knowledge of accounting. In order to perform more effectively at work, I took the Certified Public Accountant (CPA) when I was 40.
James Loh (right) Vice President & Global CFO Data Center Group at Lenovo
Bachelor of Business Administration - Finance, Economics (1995)
Q: What were you aspiring for when you first started out and how did you end up joining Lenovo?
Originally, I wanted to work in a Bank, but the opportunity in corporate finance came up first and I was impatient, so I accepted the job. There was no specific industry I wanted to enter. You should experience different business units as you never know which business unit will be on fire.
When I stepped foot into IBM, I aspired to become a manager in the shortest time possible. In IBM, managers are the central decision makers. It is a very prestigious role, very competitive and you had to perform at a very high level to earn it. It took me 3 years to become a manager in IBM and I was lucky to have good managers who nurtured and coached me. When I became a manager, I looked for my next goal and set the next milestone to become a second-line manager, (equivalent to a department head) and I achieved that after 8 years.
While I continuously aimed for a higher position, I did not stop learning. I spoke to my line-manager for new challenges every 2 years. I am thankful that IBM gave me an opportunity to rotate. I had the opportunity to work with colleagues who were in the Global Services department, Channel Sales and the Pricing department for instance.
As I rotated among departments, I had 2 mindsets – to be open to the new job scope and to build a good reputation. After several years, I went out and joined Intel. I wanted to explore and discover the world beyond IBM. Soon after that, I returned to IBM and ventured into new departments. When my unit got acquired by Lenovo, I decided to stay and this paid off as I got the chance to rotate around countries.
Q: What are you motivated by in all your endeavours?
I wanted to provide my family an international experience as well as to broaden my horizons. Experiencing different work cultures and environments will help you to grow beyond your comfort zone. Flying around helps, but living and commuting there allow you to understand the real issues there.
For example, the Chinese are conservative and hierarchical people. Their culture is about building relationships and trust, therefore reading body language becomes important. Whereas the Americans are very direct. For example, in a meeting If you do not speak out, it means you agree. If you are not aware of the cultural working style, misunderstandings will arise.
Q: When do you know it is the ‘right’ moment to move?
It helps by having ongoing conversations with your managers and agreeing on milestones. At regular checkpoints, talk to your manager to arrange for the successor to come in and train them up. Speaking to seniors or mentors can help you sort out your thoughts.
In addition, learn to be less calculative in opportunities and seize them when they arise. There may be times when you feel that the opportunity is not what you are interested in. My advice is to embrace it and keep an open mind. One of my ‘right’ moments was accepting the offer to head to the Beijing office. I was very clear that if I wanted to broaden my horizons, I needed to go out of Singapore.
Q: What do you think are the tricks of the trade for people who are interested in financial management?
People who are keen in financial management should be equipped with hard and technical skills such as management accounting, business cases, investment analysis, financial ratios and most importantly, being proficient and having a good sense for numbers.
Soft-skills wise, individuals need to have a keen eye for details, have a curious mind and be a problem-solver. In the future, finance jobs will move towards more operational roles and many people will lose their jobs. We are now near the inflexion point at which people graduating in 2021 will graduate during the time of the fourth industrial revolution. With cloud computing, 5G and massive data, we are living in an interesting time. With the advent of AI, Machine Learning, reporting and analytics will be done by programmes. Therefore, coding and the knowledge of Software as a Service (Saas) software to run machine learning are some necessary skills.
Q: Do you think your leadership style changed as you shift between different businesses?
My leadership style shifts according to the function and stage of the business. If the business is running well, one would have a consensus and nurturing kind of leadership. Whereas for a transformational unit, you must employ a top-down approach. Being able to give directions in the midst of confusion saves a lot of time on debates. There are multiple styles and toolkits to deal with problems but by being inspiring and top-down and having the courage to admit mistakes is the essence of being an approachable leader.
