“Look at your career as not just a ladder, but also a lattice” Ms. Onyeka , a data science enthusiast and risk analyst at Deloitte, Nigeria, she holds a bachelor’s degree in Economics, and pursued her MBA from the Quantic Business School. She also has a Postgraduate Diploma from the University of Texas in Data Analytics. Onyeka has had immense career mobility, she has a background in economics, has worked intensively in audit, is now in risk, and hopes to work in data science and analytics in the future. Her end goal is to work at the World Bank or an equivalent organisation. She advises everyone who can start their career in audit to do so, as in her belief, it helps open up multiple avenues of career growth.
“I explore the relationships existing between varied functions in order to understand what I know in comparison to something I am trying to do next.”
Onyeka began her Undergraduate studies in Economics. She then worked as an Auditor for approximately six years for an SME in Nigeria. She iterates that many people had been baffled by her career decision since she studied Economics but moved to audit and then risk, all disparate fields of study. When asked the underlying reason that led to these decisions , Onyeka replied, “When I think of my career, it will not be specific to a particular field of study. My career growth is aimed at covering a broader spectrum.” In her opinion, a degree in economics has given her the ability to mobilize and venture into varied fields of study whereas accounting has provided her with the flexibility to achieve the aforementioned since every company is obligated to hire an Accountant, and the job gives a very well rounded view of business operations in terms of laws, costs, risks, decisions, finances etc.
“Auditing gave me access to different companies and that is how I came in contact with Risk Analysis. On being acquainted with the subject of risk, I decided to enter the field of Risk Analysis and Management after Audit.”
Working as an auditor for 6 years had provided Onyeka with exposure to different fields and she had the opportunity to understand the working of several companies. Auditing had provided her insights into the field of risk. Talking about a comparatively newer statutory regulation i.e. Risk-based Audits, she discusses the ideology behind the concept of risk. “Talking about risk, we ask ourselves what could possibly go wrong? And how can it be prevented?”, these were the questions involved in the process of understanding the risk involved in a business. This piqued Onyeka’s interest and she decided to enter the field of Risk Analytics and Management. Hence, she embarked on her journey as a Risk Analyst by joining Deloitte in 2019.
“Today, there is a need to maintain flexibility so as to learn new things and understanding how one can apply these acquired skills and knowledge pragmatically.”
The process of learning new skills and specializations considering the dynamic nature of today’s world is of paramount importance according to her. Quoting an example of a financial accountant, she says, “Being a financial accountant in the operations department of a company doesn’t mean that I can only possess knowledge about data entry. Specializing in different fields, I can explain to my employers about the value that I can add to the organization based on my additional skills and qualifications in different areas. This is what would give me an edge over the others.”
“Audit could really get monotonous for someone who wants to explore different pathways and at the same time, it is really exhausting since there is always a lot of work to do requiring stringent laws to abide by. However, the exposure and knowledge you gain are invaluable and so, my advice to the students would be to start a career in the Auditing field.”
Even though Onyeka worked as an Auditor for 6 long years, she joined Deloitte, a predominantly audit firm, as a Risk Analyst. She elaborated about the dynamic working environment that Deloitte had to offer with various departments working in sync to get the job done. She mentions that transitioning between different departments is one of the opportunities that a company like Deloitte offers. Even though she talks about Auditing being an exhausting job, she does mention the significance of the exposure you are provided with. As an auditor, one has access to the financials of different companies, and this data could help you understand the core areas of the business for the company, what risks they face, etc. In her opinion, it is an eye-opener.
“The work environment and qualification requirement at Deloitte is not streamlined and massively depends on one’s skills, knowledge, and expertise.”
Talking about the qualifications of her colleagues, Onyeka says that not everyone working in the department has an audit background. Certain employees have a law background and they work in the Regulatory Risk Areas. Similarly, people having a forensics or I.T. background work with the forensics team or in the I.T. Department respectively. Based on one’s knowledge, skills, and expertise, an optimum decision is made as to which department and position would be the most suitable for an individual.
“When I first started researching data analytics, there were several alternatives to choose from. I started asking myself questions such as whether I want to become a business analyst or enter the field of Data Science, etc. Asking questions would help in streamlining your field of study and you will have a clearer vision.”
Onyeka once attended a speech given by a BI Expert in 2017 which piqued her interest regarding data analytics. She started researching more about the same and ended up coming across the programming language, R. She believes R is an excellent statistical tool and aided in supplementing research. A long-lived dream of hers is working for the World Bank and excelling at research was an essential prerequisite for the same. This motivated her further to venture into the field of data analytics as this technical knowledge would provide her an edge over the other candidates.
“Pick a programming language synonymous with your interest and career goals. Learn one programming language in-depth and this will help you to understand the functioning of other languages.”
Giving a brief description of different programming languages, Onyeka says that Python is a useful tool for permutations and is used by experts to formulate a given plan of action that can be used over and over again. R, on the other hand, is a statistical tool having a well-developed interface for Data Analytics. When asked about which programming languages she believed were essential to learning in today’s times, she advises students to primarily focus on a single language and to understand the syntax thoroughly as this will give them a strong foundation in programming. This way, picking up other programming languages will become easier. “If you are open to learning, you will not face any difficulty when your client uses a different programming language than what you have learned,” says Onyeka. Hence, learning one programming language enables you to swiftly glide across several other languages by learning some additional functions and features.
“Advanced Tech makes us forget about the basics such as Excel.”
“Everything I was learning to do with R, I could do with Excel!”. She urged students today to build a stronger footing with Excel, as a prospective employer organization may or may not have the ground resources for such advanced programming languages. But Excel is the bread and butter of corporations today, and strong mobility and knowledge of the software will never go undervalued!
“The major thing to keep in mind is to have an understanding of what drives the key metrics of your company.”
When asked what role analytics plays in a business operation like an investment bank or a consulting firm to achieve their broader goals, Onyeka accentuated on the three metrics that drive each and every business- Revenue, Cost, and Risk. Businesses are driven by certain factors- Customers, Vendors, Regulations, Inherent Risk, etc. For companies in different sectors, the factors responsible for driving these metrics differ. Hence, it is pivotal to understand the key elements that drive these metrics.
Analytics is not only a statistical tool but also provides the ability to devise unique solutions to the varied problems of a business.“You start thinking about the different aspects that can affect the business,” she says. Investment Banks are subject to stringent rules, similarly, MNCs operating in different countries need to abide by the rules and regulations that are in effect locally, hence the application of analytics with an Outlook to build material insights for varied companies can be extremely beneficial in different ways for different situations.
Onyeka spoke on how it is essential to first narrow down the problem before brainstorming solutions for the same.
“You could take a day to find the solution but forever the underlying problem. If you don’t know the actual problem, you could come up with an irrelevant solution, which takes you back to the drawing board, having to start all over again.”
Developing critical thinking skills is an important requisite! Asking the right questions regarding the data will ultimately lead to speedy and effective business decisions that are also unique in itself. Asking the right questions and understanding the underlying problem supplemented by your knowledge and technical know-how will help you to divide appropriate methodologies to solve that given problem. “Your business solution has to be unique to the given company in a way that is best suited for them using the resources they already have at their disposal,” says Onyeka.
When asked about what advice she would give to students who wish to get into data analytics Onyeka emphasized the following points:-
- Have a reason for pursuing Data Analytics
The primary step in one’s journey of Upskilling in data analytics was to for one to figure out their ‘WHY’. Building a strong reasoning would help one propell through the journey. This ensures motivation through times when absorbing information turns out to be difficult. “Having a true passion and drive for anything that you pursue in life is essential” she believes
- Find a community of learners
Finding a community of learners who are on the same journey as you are can prove to be truly helpful in navigating this path. She recommends looking for groups on the app Telegram. Links to webinars involving specialists from the field are also actively shared on such groups. She also recommends Stack Overflow, a site designed to help you get answers to all of your questions. “The best part of such groups is the fact that it is the perfect place to have your questions or doubts regarding certain topics cleared effectively”, she says. “Seeing other people just as frustrated as you when learning certain aspects of data analytics can help in reducing your own frustration”, she jokingly added.
- Find a mentor
“Finding a mentor, someone who has been down the path you’re about to take is very helpful.”
Having someone to ask questions makes the journey ahead much clearer and prepares you for what’s to come. Several resources, opinions, and suggestions can confuse someone looking to pursue something specific. Onyeka recommends LinkedIn as a good and effective platform to find people to mentor you on your professional journey!
- Using the right resources
Having several resources can lead to becoming a victim of conflicting opinions, hence finding the right source is essential. “You could solve a problem one way but that may not be the most efficient way of doing it”. Hence, learning from the experience of others as well as reading books on the subject can allow you to become more efficient and develop the ability to be able to debunk hard problems by oneself.
- Soft Skills
“Being able to communicate your findings in layman’s terms to the business executives is of the utmost importance”, says Oneyka. This is why she iterates on developing good soft skills, which can ultimately allow a person with no background in data analytics to swiftly follow your findings.
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