Presented by

Rey del Valle

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Speaker introduction

Large vs. small companies What is common

What are the differences

Where are the job opportunities

What is right for you? Points to consider

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Over 20 years Finance experience

Roles as: Divisional CFO

VP Finance and Planning

VP Strategy and Planning

In a variety of industries Banks, Travel, Shipping and Entertainment

VP Finance and Planning at Disney’s Cable Networks ($4 billion in revenue) Divisional role Consolidating Long Range Plans, Budgets and Forecast

across multiple businesses in over 128 countries Reviewing and developing business plans Liaising with Corporate and other Media business units

Previously with MTV Networks, FedEx and Norwegian Cruise Line Primarily in business units reporting to “Corporate”

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Most recently with Youbet.com as VP Strategy and Planning ($500 million in wagers; $100 million in revenue) Long Range Plans/Budgets/Forecasts

“Corporate” role, working directly with CEO, Board of Directors, Wall Street analysts

Joint Ventures – working with third parties

Quarterly Earnings releases – Auditors and outside IR firm

M&A – worked with Investment Bankers and outside Counsel

Closed on the sale of Youbet to Churchill Downs in June 2010

Have also been CFO in pre-funding startups

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Metrics/Key Drivers focus

Managing people and processes

Team work

Attention to detail

Broad time span Short term tactical pricing Quarterly earnings impact Investing in opportunities with > 1 year gestation

Excellence Youbet team from Ticketmaster, Disney, Orbitz, Yahoo, Harrah’s,

MCI

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We’ll review in the next slides Resources

Processes

Planning Horizons

Positioning/Communication

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Limited in a smaller company Expenses more likely to have an EPS impact

40 million shares vs. 2 billion

Need to effectively prioritize Focus on high impact projects and initiatives

No “Corporate” reporting alleviates workload Stoplights, EVA and other reporting not used internally

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Large Company Defined processes in place

Models already developed

Focus on refining (Six Sigma, etc)

Small Company Few established processes

Develop models from scratch

Inherit vs. Invent – provides opportunity to be recognized

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Large Company Deadlines distributed a year in advance

Determined by Board dates

Less flexibility

Twice quarterly forecasts

Small Company Deadlines can move

Board dates more flexible

Driven by bank requirements

Sometimes ad hoc

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Large Company Initiatives tend to be internally focused for Senior management

reviews and approval

Air Traffic Control: Keep information flowing across various constituencies with the message evolving

Start by challenging then becoming advocate

Small Company Tend to be geared toward Board approval

Value creation and EPS impact

Street and Investor perceptions matter

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Number of FPA Staff Large Companies: Corporate and Divisional

Examples:

Disney Cable Networks ($4B) staff of 10

Additional Staff in Regions and Business Units

ABC Family ($300m) 3 Planners, splitting with acctg duties

Small companies

Many more small companies than large

Fewer pure FPA roles in small companies

Smallest companies may not plan or are directly managed by Controller

Youbet –$100m revenue across two segments- 2 planners

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Job Security

Compensation

Interaction

Flexibility/Structure

Career Development

Recognition

Prestige/Brand Association

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Large Companies Layoffs and

Reorganizations

Small Companies Layoffs and

failures

Not as likely to get press

Implication – not really safe anywhere. Need to keep your skills sharp and your network active

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Salaries vary widely, but tend to be lower in smaller companies

Bonuses in small companies can fall into a broad range Factor of 6x from 2008 to 2009

Stock based compensation at smaller public companies present significant upside due to size of grants and volatility

Implication –Need to know your own tolerance or aversion for risk (Home run Vs Singles)

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Size Company

VP Finance Salary

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2008 2009

Bonus Volatility

Large company Can be more diverse and offer more opportunity for social interaction with

people from different backgrounds Tend to work within your FPA team (think of where your department sits) Most senior level of exposure typically with SVPs or division management Easier to fade into the crowd

Small company Opportunity to interact directly with CEO and others on the senior

management team Work across multiple disciplines - marketing, engineering, legal, accounting More intimate setting, you’ll know your colleagues better Can’t hide

Implication – Right setting depends on your preferred type of social interaction

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New initiatives Large Company

Criteria set Multiple layers of review

Small Company Opportunities can arise suddenly and require quick analysis Approval criteria more fluid Once the management team is on board, reviewed with the

Board

Implications In a smaller setting, person needs to be comfortable with ambiguity

and must be a self starter Larger companies require patience and perseverance

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Large companies offer formal technical training Leadership training Tuition reimbursement

Smaller companies offer on-the-job training and opportunities to move into broader roles Prepare for general management

Implication - Need to be certain of your career goals and personal development plans

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Large Company More process driven, less opportunities to stand out

Promotions often delayed by time in grade requirements

Recognition mostly within your own business unit

Need to “Go with the Flow”

Small company Ability to produce high impact work

Good work is often recognized by C-level execs and Board of Directors

Flexibility to reward outstanding work with promotions

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Large Company Recognizable brands bring instant credibility with recruiters and

hiring managers

Sense of belonging, pride

Could also suffer from negative connotation

Think “Enron”

Small company Need to “sell” and explain what company does

Opportunity to build next Facebook or Google

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What’s right for you depends on several factors Where you are in your career

Size organization that fits your personality (Think: What size school you attended)

Work ethic - happy to just put in time vs. action orientation

Process orientation vs. “Free Thinker”

Big company “Brand” association

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Vs.

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Rey del Valle

reydelvalle@hotmail.com

818 383 2361

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