FP&A Today - Episode 16 - Jamie Genge: Winning Big with Monte Carlo analysis in FP&A
Show Notes
More FP&A teams should take advantage of the secret power of Monte Carlo simulations, argues Jamie Genge, Head of Financial Planning and Analysis at the UK’s National Physical Laboratory (NPL).
Jamie Genge runs FP&A at the NPL which employs 775 scientists to provide research in science, engineering and technology to support scientific and commercial innovation in the UK. Some of the world’s most significant innovations have origins at NPL, including radar; packet switching, the forbearer of the internet; the ACE computer; and the cesium atomic clock.
Jamie’s start began studying Human Geography before moving to audit at PwC. Jamie went to work for the National Physical Laboratory in the UK where over 11 years he has held multiple roles, including his current role as head of financial planning and analysis for the National Physical Laboratory (NPL).
In this wide-ranging interview Jamie provides his take on
Moving from audit to FP&A
How FP&A acts as bid support in governmental organizations such as the NPL
His passion for Monte Carlo analysis, a mathematical technique to account for risk and upside in decision making
How Monte Carlo is used in the sales funnel, with examples from NPL
How NPL conducts its budget and forecasting
Bottom up vs Top Down budgeting
The pride of building a team in FP&A as one of the greatest career achievements
The challenges and opportunities in FP&A at this crossroads
Jamie’s gardening project as an analogy for FP&A
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