In this episode of CFO Weekly, William Washington, Global CFO of Baker McKenzie, joins Megan Weis to share his experiences regarding financial leadership, process improvement, operational efficiency, and many more. William, as a Lean Six Sigma Black Belt in Finance expert, dives into the methodologies that transform operations and prepare financial teams for the AI revolution.
As a certified Lean Six Sigma Master Black Belt with an MBA and Master's in Law Firm Management, William combines deep financial understanding with operational excellence principles to drive organizational success. His career spans prominent roles at global organizations, including Accenture and Fannie Mae, before finding his true calling in legal finance leadership.
Transcript
In this episode, we discuss:
- How the Six Sigma methodologies transform financial operations and process improvement
- The unique challenges of financial leadership in law firms
- The importance of authentic leadership and creating a culture where "trying is not a failure"
- What impact does AI have on financial operations
Key Takeaways:
Mastering Six Sigma Black Belt
Becoming a Six Sigma Master Black Belt is a rigorous, stats-heavy journey that demands persistence. However, for William, it's more than just a certification; it's a mindset. His commitment to continuous improvement led him to embrace and teach Six Sigma principles, turning challenges into learning opportunities. Now, he instills this approach in his financial leadership, ensuring his team sees Lean Six Sigma not as a rigid framework, but as a powerful toolkit for identifying inefficiencies, solving problems, and driving career growth.
"Every leader on my team, every person who reports to me gets some dose of William Washington's Lean Six Sigma concepts because I want them to embrace the theory of continuous improvement in everything that they do." Washington noted. - 05:54 - 10:00
Why Law Firms Are Their Own Biggest Challenge
Law firms are unique because their owners are also the product. Unlike companies that sell physical goods, law firms sell knowledge and expertise, making alignment on business strategy a challenge. William highlights the importance of teaching lawyers to view their services as a product, much like an ice cream truck driver must understand their inventory, pricing, and customer demand to stay profitable. His approach? Listen first, understand their market, and help them navigate financial success as if rowing alongside them.
"One of the things I learned during my time doing Lean Six Sigma was to listen and understand the clients in the market." Washington commented. - 10:00 - 14:57
Learning Six Sigma in Finance
Applying Lean Six Sigma is a game-changer for everyday financial operations. William shares how Kaizen events and process improvements helped his team slash an 18-month budgeting project down to six months. His approach? Empower the team with the right tools, provide continuous learning, and bake improvement into daily work. Whether it's streamlining operations or fostering financial discipline, success comes from clear communication, shared understanding, and a structured approach to change.
"Everybody doesn't need a black belt or a green belt or a yellow belt, but they get the tools to continually improve processes, which I think is most important." Washington explained during the conversation. - 22:57 - 27:21
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