Sep 22 2019 13 mins
Contact Ginger White:
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/virginia-ginger-d-white-cma-csca-bb-mbb-mba-mssf-a7221b1/
IMA Bio: https://www.imanet.org/about-ima/ima-leadership/virginia-ginger-white
Institute of Management Accountants: https://www.imanet.org/
American Accounting Association: https://aaahq.org/
FULL EPISODE TRANSCRIPT
Music: (00:00)
Adam Larson: (00:05) Hey everyone. Welcome back to "Count Me In", IMA's podcast about all things affecting the accounting and finance world. This is Adam Larson and I'm joined by my cohost, Mitch Roshong. As you know, the purpose of "Count Me In" is to bring you the latest perspectives and learnings on everything management accountants need to know. We strive to consistently share valuable insights from industry experts and those who are shaping our profession, and today's episode is no exception. We were delighted to have the opportunity to sit down with one of the great leaders in our industry, ginger white. Ginger joined us in our office here in Montvale, New Jersey and talked about what it takes to be a valued leader of the finance team. Ginger is the global chair emeritus of IMA's global board of directors and has a wealth of knowledge and expertise that we were lucky she was willing to share with us. Mitch, what else can you tell us about Ginger and your conversation with her for this episode?
Mitch Roshong: (00:56) Ginger is an executive level financial management professional with over 20 years of experience. She spent 22 years at Cummins, an American Fortune 500 company that designs, manufactures, and distributes engines, filtration and power generation products. There, she spanned roles from cost analyst through corporate purchasing finance director acquiring and developing valuable skills along the way. She is a CMA, CSCA, Six Sigma black belt and now serves as the chief operating officer for the American Accounting Association. In our conversation, we talked a lot about Ginger's tenure at Cummins, the skills she noticed to be most valuable and some of the best wins as a finance professional. This is a great episode for those interested in learning what it takes to create your own successful long lasting career. So let's go to the conversation.
Music: (01:47)
Mitch Roshong: (01:53) Take us back to when you first started in finance and business. Was it originally your intention to work at the same company for the majority of your career?
Ginger White: (02:01) Actually, no, it was not. So when I actually joined Cummins in 97 I had been teaching Accounting I at a small college called Ivy Tech in Indiana and I was teaching Accounting I and absolutely loved it and they were changing the accreditation standards that required a master's degree or work experience equivalent. And I didn't have either. So I heard Cummins would pay for your master's degree. So my whole purpose to go there was to get my master's degree and quit and teach full time. So I spent 21 and a half years there before I left recently to go be the chief operating officer at the American accounting association.
Mitch Roshong: (02:37) So was it always your longterm goal to achieve some kind of C-suite position or did you think you'd be teaching your whole career?
Ginger White: (02:44) Early on? After I'd been teaching Accounting I, I really did think I would be teaching my entire career. However, when I got to Cummins and started really learning about cost accounting was introduced to IMA, my path changed. And I think it's really important to always flexible to what life might bring you. And I would have never guessed that I would be C-suite at some point and I'm really enjoying it and my new role.
Mitch Roshong: (03:10) And as far as the progression that you did have through Cummins, how did you develop and acquire the skills needed to kind of progress through all these different positions? What were some of the skills that really proved to be most valuable in supporting your recent role that you, the most recent role you held there?
Ginger White: (03:27) Actually always being willing to learn and pushing yourself above and beyond what you ever think you can. So I had initially started getting my MBA immediately as I joined Cummins. And so I finished that in 2002 and then later I ended up getting my Master of Science in Strategic Finance in 2006 and I had always had on my individual development plan, my CMA. And it wasn't until 2014 that I actually achieved that, which was very valuable because I had taken a role as a Six Sigma master black belt, which was in the quality function. And the skills I gained there actually is very relevant to today because we're really moving into a world of data analytics. And when I did my master black belt role, that's pretty much what we did. So then when I really wanted to move back into my corporate purchasing finance role at Cummins, I felt that I needed my CMA. So that was very valuable in 2014 when I achieved that. And then in June of '15 is when I moved back into the finance role in a corporate purchasing finance.
Mitch Roshong: (04:28) How about the other side of things? What were some of the daily challenges of directing large growth plans and executing different strategic initiatives for Cummins?
Ginger White: (04:37) That probably came mostly in the corporate purchasing finance role. There, when I joined the team, we had implemented, prior to me joining something called the strategic finance solution for payables. And when I got there, there were lots of issues that systems processes were failing daily, suppliers were not getting paid as we promised and so forth. So I went to work immediately to fix that. And when I left, the individuals were getting paid within five days. So we still were able to extend our payment terms, which actually helped Cummins with their cashflow, but our, our suppliers were getting paid within on average five days. So I felt really proud of that because it actually helps some of our suppliers become debt free and it was a win, win, win.
Mitch Roshong: (05:24) And what do you attribute some of that success to? How were you able to overcome those challenges?
Ginger White: (05:28) I really do attribute a lot of that to Six Sigma, my problem solving skills and then just getting everybody together and working collaboratively. It's, it's a skill I've naturally somehow come about. And I think Six Sigma helped me do that because a lot of times people will just try to solve things from their perspective. And it's so much more powerful when you get cross functional teams together to really talk and understand deeply what each issue might be in a given area. So that's what we did. We really looked at it solution, we looked at the payables process, we looked at all kinds of things to really determine what the real root cause was. We fixed those, we put controls in place to ensure the failures just stopped ongoing. And then we, we had good suppliers that we partnered with and they held us accountable too, which was really powerful. So it, it was it was a great experience to, to really do that. And I have lots of those, those kinds of areas where...