Sarah Petty is a highly accomplished CFO and has successfully led high performing teams both here in Australia and in Singapore. Having worked for several top tier multi-national and ASX listed companies including GE, Kraft Foods, Mondelez, Kellogg’s, Lion, Bega and Target — she has now decided to pursue a different path and follow her passion. Launching Olive Business Partners, playing in the virtual CFO space, Sarah is now helping businesses organise and manage their financials to set them up for long term success.

She chatted with Atlas Partners Director, Liam Killen about her incredible career and what’s next in her journey.

Liam: Sarah Petty, thank you so much for joining us today.

Sarah: Thanks for having me, Liam. Looking forward to the conversation.

Liam: Okay, so, Sarah, I’d love to learn a little bit more about your very interesting career to date and where you are currently. 

Sarah: Yeah, well, my career began with a bit of a false start, actually. I was made redundant from my first role before I’d even started. I had applied for a graduate role at one of the ASX-listed companies. Just as I was finishing my exams in my last year of uni, I got a call from the HR department saying they’d had budget cuts and were no longer going ahead with the grad program. I was absolutely devastated. I thought my career was over before it had started and that I’d never get a job in finance again. But as you learn over time, when one door closes, another door opens. I was approached for a role at GE on their financial management program. At that time, GE was one of the biggest conglomerates in the world. In hindsight, it was probably a better opportunity for me and an excellent training ground for my career in finance.

From there, I went on to work in a number of FMCG and retail businesses, including Cadbury, which is now Mondelez, Kellogg’s, Lion, Bega, and Target. I’ve had a broad career path in finance, covering roles in commercial finance, FP&A, financial controls, and strategic projects. Rather than step you through each of those roles, I’ll share five defining moments in my career that might be interesting.

• First Promotion to Manager: This was at Cadbury. I was working in the sales finance team as a senior finance analyst and was promoted to a manager role. This was my goal—to be promoted and take on a leadership role. But when I got into the role, it wasn’t all I thought it would be. I struggled with people management, stakeholder management, and the pressure. It got on top of me, and I wasn’t enjoying it. I ended up leaving that role and the business, moving to Lion in an individual contributor role. There, I reset myself, rebuilt my confidence, and realized that career paths aren’t always linear. It’s okay to take sideways or backward steps.
• Move to Singapore: This was a big step out of my comfort zone. I lived and worked overseas for a couple of years, learning a lot personally and professionally. I’ll talk more about that later.
• Maternity Leave: I was at Lion as the head of financial planning and analysis when I fell pregnant with my son, my first and only child. Taking maternity leave was a significant change. From making billion-dollar decisions daily to being alone with a helpless baby, it was a big adjustment. I struggled at first but eventually worked out my role as a mum and a leader. Returning to work, I had a positive experience with a supportive leader who allowed me to gradually increase my workdays, which helped us adjust as a new family unit.
• CFO Role at Buzz: I stepped out of large corporates into a privately-owned company as the CFO for Buzz, a product design agency in the travel industry. I enjoyed the autonomy and working with innovative people but missed the support network of large corporates. It was a learning experience being the head of the function and handling everything on my own.
• Starting My Own Business: I’ve recently launched a business in the virtual CFO space called Olive Business Partners. It’s a big step without the luxury of an ongoing salary, but I’m pursuing something I’m passionate about and believe in, hoping to build it into something meaningful over time.

Liam: We’ll speak more about Olive Business Partners towards the end of our chat. But going back to the start, what made you want to get into finance?

Sarah: As a kid, I wanted to be a teacher. I used to make my sister sit down in front of the chalkboard and teach her lessons. I like to think I contributed to her education in some way. But when I went to uni, I wasn’t sure what I wanted to do. I did a double degree in arts and commerce—arts majoring in communications and literature, and commerce majoring in finance. They don’t seem to go together, but I’ve always been multi-passionate and have a passion for storytelling. In finance and accounting, I found the language of business. Numbers can tell the story of business performance and opportunities. Combining these skills has helped businesses grow, empowered business partners to make decisions, and enabled my team to progress in their careers. That’s what I love—bringing these two things together.

Liam: Talk to us about a sliding doors moment in your career.

Sarah: One sliding doors moment was the decision to move to Singapore. I was working at Lion less than a year into the role when my partner, now my husband, was offered a transfer with his company to Singapore. We had talked about working overseas but managing two careers was challenging. I was enjoying my role at Lion and didn’t want to leave. But we decided to go, and I was lucky to find work in Singapore relatively quickly. It was a big personal and professional development experience. I met lifelong friends, built resilience and perseverance, and gained valuable experience. It opened my mind to other ways of doing things and has been invaluable in my business, especially when speaking with clients expanding into Asia.

Liam: Explain to listeners the difference in working cultures between Melbourne and Singapore.

Sarah: When we first moved, I naively thought it wouldn’t be that different. But it was more of a culture shock than expected. Singapore is very multicultural, and our office at Kellogg’s had expats from around the world. Dealing with different cultures required openness and humility. In my role, I managed teams in various countries, learning about markets outside Australia. I had to adapt quickly and learn on the fly. 

A funny story: I once emailed a colleague in Japan saying I’d get a report done by the end of the week. She replied, “no problem,” which I took to mean there was a problem. A few days later, my manager asked what was going on in Japan because they thought I had been direct and offensive. It turned out to be a miscommunication. I used a common Australian phrase that didn’t translate well. We laughed about it, but the learning is to listen to others and think about how you’re communicating.

Liam: You’ve spent time on various boards. How did those opportunities come about?

Sarah: I started taking an interest in board roles while working with boards in my leadership roles. I joined Women on Boards, did their Women in Leadership program, and attended networking events. It gave me confidence and a better understanding of board opportunities. I also did a course on building a board CV, which helped showcase my skills differently. I saw a role for a board treasurer at Gasworks Arts Park, applied, and was appointed. Later, I joined Deakin University’s advisory board for the accounting department. These volunteer roles have been great for using my skills and giving back to organisations I care about.

Liam: Do you have any mentors you keep in touch with?

Sarah: Yes, I have many mentors—more like a board of advisors for my career. I get advice from different mentors depending on the challenge. They are usually previous managers or leaders I’ve admired. Recently, I’ve connected with people on LinkedIn and reached out for advice. Many people are willing to help if you show interest. These relationships are usually informal and organic, used as needed for specific challenges.

Liam: Tell us about your new venture, Olive Business Partners.

Sarah: I’ve launched Olive Business Partners, offering virtual CFO services. I help business owners and leaders get control of their financials. A virtual CFO provides CFO expertise flexibly, working remotely or on-site as needed. It’s more cost-effective for businesses that don’t need a full-time CFO. I advise on revenue growth, cash flow management, strategic financial planning, process improvements, financial analysis, and developing financial capability within the business. My vision is to create a flexible business structure that works for both me and my clients. It allows clients to flex resources as needed and lets me balance work with my family life. My son is starting school next year, and being there for him is important to me. You can find more at olivebusinesspartners.com.au or on LinkedIn and Instagram @olivebusinesspartners.

Liam: Fantastic. We’ll add those links to the post. Thank you so much for joining us today, Sarah. It’s fascinating to hear about your career journey and your new venture. Thanks again.

Sarah: Thanks, Liam. I appreciate it.