July 2022 Member Spotlight - Paul Nolan

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  • Vice President Tax, Government Affairs & Strategic Real Estate
 
Company: McCormick & Company, Inc.
 
Length of time you’ve been a FEI member: 10+ years
 
FEI leadership involvement (past and present):  I’ve been the FEI Committee on Taxation Chair since 2019.
 
Q: Tell us a little bit about your career, educational/professional background and how you got to where you are today.

The public policy angle of tax first attracted me to the field. I covered the 1986 Tax Act as a paralegal in Washington D.C. for a law firm and then went law school. After working at Davis Polk & Wardwell as a lawyer, I went in-house, and financial responsibilities came my way as I developed professionally. 
 
In all my roles, I always aspired to place financial information into the context of a narrative with the underlying policies that govern that information. I.e., management reporting, US GAAP or Federal/State taxation. 
 
While quantitative excellence and financial controls are critically important and necessary “table stakes,” much of the role of a financial executive is communication and leadership based on that financial information. Placing the information in a clear, understandable context matters.
 
Q: What is one piece of information you wish someone had told you when you first started your finance career?
 
Every assignment, no matter how trivial it may seem, is important and can shape your career. Thus, it is best in the long term to commit and perform the assignment as well as you can.  I learned this in retrospect at several junctures in my career when assignments and responsibilities provided at an “entry level” opened doors into areas that turned out to be the foundation for years of professional opportunity.  I was lucky enough to know to commit to the assignments at hand and one thing led to another. 
 
Q: Do you think it takes a certain kind of personality to thrive in finance? What traits are most important?
 
In my view, a finance function is stronger and more resilient with a diverse set of professionals on the team. Therefore, anyone can thrive in finance who is willing to invest in continual learning and development, admits to and corrects mistakes when they occur and commits to a high standard of performance. While there can be the perception of the “bean-counter” caricature by some, in my view the wise – or dare I say “sage” – professionals in all aspects of business recognize the broad, diverse talents of financial executives and the significant contributions that those executives can make to business success. 
 
Q: What is your best networking tip?
 
Always welcome the opportunity to introduce yourself and get to know others at events. Take the first step and extend your hand. And when you do, make sure to listen, engage and ask open-ended follow up questions. You will find yourself truly getting to meet others, ending up in the most interesting conversations and developing a strong network.
 
Q: What are some of your personal hobbies outside of finance?
 
My passion is cooking – all seasons and all types of cooking techniques whether grilling, sous vide, paella, stir-fry or just plain sauteeing. Working at McCormick means constant exposure to flavor and creative culinary innovation.