Vibha Thakkar

From Taxation Expert to Finance Visionary

Vibha Thakkar

Assistant Vice President Finance & Accounts

NOCIL

When opportunity strikes, it often comes in unexpected forms. For Vibha Thakkar, this came early in her career when she was entrusted with critical responsibilities after senior colleagues left the organisation. Transitioning from a taxation specialist to lead multiple finance functions like controllership, treasury and investor relations, etc, Vibha quickly stepped up to the challenge. This pivotal moment required her to not only rely on her technical expertise but also embrace leadership, strategic thinking, and risk-taking ability. Her ability to consistently deliver under pressure earned her the trust and respect of her peers and leadership, shaping the trajectory of her career. With over 16 years of experience across diverse industries, including FMCG, automobiles, pharma, e-mobility, private equity, and consulting, Vibha has developed a reputation as a results-driven finance leader. Holding a chartered accountant degree and an executive alumni of India School of Business (ISB), she brings a comprehensive skill set to the table, including financial reporting, strategic financial planning, business structuring, risk management, and digital transformation in finance. Vibha is deeply passionate about driving process improvements, cost-saving initiatives, and applying innovative thinking to complex business challenges. As a leader, she has successfully headed multiple finance teams, fostering collaboration and building high-performance teams that align closely with organisational goals. She believes that finance is not just about numbers; it’s a strategic business function that, when partnered with other departments, can unlock new levels of operational efficiency and growth. How? Let’s read here.

Can you share your finance journey and key learnings from working across FMCG, pharma, and mobility?

My journey into finance started during my articleship, when chartered accountants were primarily seen as tax return filing or auditors. Over the years, the profession has undergone a significant transformation and so has my career. Initially taxation was considered as a critical domain, but as we progressed, we realised that finance professionals have a much broader role, involving business partnering and strategic decision-making. Working across industries like FMCG, pharma, and mobility, we’ve learnt to navigate digitalisation in finance, economic shifts, regulatory changes, and market dynamics. These experiences have taught us the importance of aligning financial strategies with broader business goals, especially during uncertain times like COVID-19.

Can you provide an example of applying design thinking to solve a complex financial or business challenge?

Design thinking has been central to my approach, especially in driving digital transformation. We applied design thinking to drive digitalisation and automation in an environment resistant to change. The first step was to understand the underlying issues behind surface-level complaints, such as missing data or lack of support between departments. We then identified the core requirements and focused on addressing those. Next, we engaged key stakeholders in the process, ensuring that we were all aligned. Rather than implementing sweeping changes immediately, we started with small prototypes, redesigning processes for a specific segment/ process. Once the prototype showed impactful results, then it was easier to scale the solution across the company as team gets confidence and no one acts as roadblock. We made change in people’s mindsets with actual demonstration rather than merely having discussion or suggestions. Resistance to change was expected, so we used data-driven insights to demonstrate the benefits of the new initiatives taken. Gradually, teams saw tangible improvements in efficiency and accuracy, making them more willing to embrace the transformation. This method fostered collaboration and innovation, delivering significant results for the business.

What advice would you give to aspiring finance professionals?

Embrace continuous learning and adaptability, as the finance profession is rapidly evolving. Focus on understanding business dynamics, not just restrict to financials reporting & compliance. Develop strong business partnering skills to align financial insights with strategic Organisational goals. Drive digital transformation to get deeper insight into business which enables organisation to make informed decisions and strategies. Step out of your comfort zone and be open to change; it’s essential for growth and creating impact. Lastly, build strong relationships with your team, leadership, and external stakeholders. Collaboration and trust are key to driving success in any professional journey.

Reflecting on your journey, what are two major learnings that stand out to you?

Looking back, two major lessons stand out. First, adaptability has been crucial in navigating the constantly evolving business landscape, influenced by factors like regulatory changes, acquisitions, and global events such as COVID-19. The ability to pivot quickly and integrate new processes or provide financial insights to support decision-making was key. Second, we’ve learnt that finance goes beyond compliance & Reporting financials. It’s about understanding the entire business ecosystem. Whether working on acquisitions or improving operational efficiency, aligning financial strategies with broader business objectives has been essential in driving data backed decision making and delivering impactful results.

How would you sum up your leadership style in one word or sentence?

My leadership style is “strength-focused and supportive.” I believe in identifying and leveraging the unique strengths of each individual and team while offering support to address weaknesses/ shortcomings. By creating an environment where team members feel empowered and guided, I align teams toward common goals. This approach fosters collaboration and unity, essential for achieving remarkable outcomes. Whether with team members, senior leadership, or cross-functional colleagues, this leadership style drives success and ensures continuous growth and progress within the organisation.