566: Building Your P&L Culture | Scot Parnell, CFO DailyPay

Published: Jan. 26, 2020, 11 p.m.

We are nearly at the end of our interview with Scot Parnell when we ask him to explain what led him to accept the CFO position at DailyPay, a company with a pioneering technology inside the human capital management realm.

This is a question that we had asked a little earlier in the interview, but this time we want to know what other factors may have contributed to his decision. Although Parnell has already put forth a compelling explanation of DailyPay\u2019s unique offerings, he is happy to share a bit more with us.

\u201cThis role was absolutely fascinating. I was at a place in my life where I could take some risks, and I also think that I\u2019ve got some runway here. For me, it was too important to be absolutely excited about goingto work every day. It makes me a better leader. It makes me a better husband and father when I find fulfillment in what I\u2019m doing,\u201d explains Parnell, whose response suddenly widens our lens to a better view of what sets apart his latest CFO career chapter from earlier ones.

\u201cAs I sat back and looked at what I wanted to do next, this just felt like I could get more excited about it and put more of my soul into it, so that\u2019s what I did,\u201d he continues, while expressing a sentiment that many finance leaders experience but frequently resist acting upon.

Having spent the past 20 years as a finance leader in large enterprise organizations, Parnell has observations about the entrepreneurial realm that undoubtedly signal a fresh enthusiasm that few CFOs can muster\u2014and particularly those who may have built their careers as start-up CFOs and but over time have become more integrated into their surroundings.

Nonetheless, when it comes to CEO\u2013CFO relationships, Parnell\u2019s comments are suddenly strikingly similar to those of a broad swath of his CFO peers: \u201cThe CFO and CEO have to do a Vulcan mind-meld to make sure that they\u2019re not only of the same mind, but also able to work together as a team and provide each other balance and support.\u201d\xa0\u2013Jack Sweeney