CEO Insights Magazine

In the intricate tapestry of a business's success, the Chief Financial Officer (CFO) assumes a pivotal role, orchestrating the financial symphony that drives the organization forward. Beyond the traditional responsibilities of financial oversight, a CFO is a strategic partner, navigating the complex landscape of fiscal decision-making and contributing to the company's overall vision.

An exemplary individual who embodies the essence of financial leadership and strategic acumen is Norsharizal Mashahrin, the Deputy Managing Director and Chief Financial Officer of Amanah Ikhtiar Malaysia (AIM), a trailblazing microfinance institution. Concurrently, he is the Co-founder and Partner of Microleap PLT, a crowdfunding peer-to-peer financing company dedicated to empowering micro, small, and medium-sized (MSM) businesses in Malaysia.

In the realm of microfinance, AIM stands tall as the largest institution in Malaysia, disbursing over RM2.5 billion annually to more than 340,000 borrowers from the low-income segment. This financial lifeline propels the aspirations of entrepreneurs, fostering economic growth and inclusion. On the other hand, Microleap, under Norsharizal's guidance, has facilitated cumulative disbursements exceeding RM120 million, impacting over 360 MSM businesses. Both organizations have garnered accolades for their outstanding contributions to entrepreneurship and financial inclusion, shaping the economic landscape of Malaysia.

Norsharizal's journey is a testament to his unwavering commitment to excellence. His career took root in the esteemed grounds of Ernst & Young, Kuala Lumpur, and later extended to the dynamic financial hub of London with KPMG, where he honed his skills in audit over 11 transformative years. Armed with a Chartered Accountant designation, Norsharizal boasts over 24 years of leadership and financial expertise.

His academic achievements are equally impressive, with a Master of Business Administration from Alliance Manchester Business School, University of Manchester, and a Bachelor's in Accountancy with First Class honors from Universiti Teknologi Mara, Shah Alam. Norsharizal Mashahrin stands as a paragon of financial leadership, steering the course for Amanah Ikhtiar Malaysia and Microleap PLT, enriching the business landscape and championing economic vitality in Malaysia. Let’s hear from him.

Could you share insights into the distinctive offerings and experiences that Universiti Teknologi MARA Malaysia provides, and elaborate on the valuable lessons you gained from the campus beyond the academic realm?

Universiti Teknologi MARA, commonly known as UITM, boasts one of the premier faculties of accountancy in Malaysia, if not the very best. My time at UITM during my tertiary education significantly shaped my early career trajectory in finance and leadership. The campus not only provided a robust academic foundation but also cultivated an environment of camaraderie among peers and professionalism among lecturers that remains etched in my memory. The friendships forged and the mentorship received played an integral role in my academic and personal growth. Undoubtedly, UITM offered me the most fulfilling student life experience.

The lecturers at UITM were not merely educators; they were exemplary mentors who inspired and motivated students to transcend the ordinary and strive for excellence. These formative experiences continue to fuel my motivation to give back to the nation through my roles at AIM and Microleap. Contributing to the nation is my way of expressing gratitude for the transformative education I received at UITM.

As a UITM graduate, I take immense pride in having graduated among the top of my batch in 2001, a testament to the quality of education and mentorship UITM provided. My journey as a UITM student remains a source of inspiration, driving my commitment to making meaningful contributions to the nation's financial landscape.

Describe your leadership philosophy. What principles or approaches guide your role as a leader?

As a transformational leader, my focus lies in the future. I am comfortable with change and understand its necessity. Planning for the future to achieve corporate goals is a constant endeavor. I view my team members as invaluable contributors, each possessing unique strengths and abilities. Embracing change, adapting to it, and leveraging individual strengths enable team members to reach their full potential. Recognizing that one leadership style doesn't fit all, I see myself as the orchestrator of a jigsaw puzzle. Every team member plays a crucial role, and my role as a leader is to convey the overall vision, ensuring that every piece fits seamlessly into the larger picture.

In the participative leadership realm, engagement, creativity, and morale are paramount. I involve team members in decision-making processes, fostering collaboration and accountability for outcomes. Building respect and trust is essential for a participative leader, achieved through a shared vision and mutual respect with the team. Solving the jigsaw puzzle, in this context, requires a collective effort where team members identify their contributions and how they fit into the larger picture. Shared power and responsibility allow pieces to self-shift, demonstrating the team's true value and potential.

I firmly believe that a transformational/ participative leadership approach propels organizations and teams forward, making them resilient in any situation. By presenting a compelling vision, embodying it, and working hand in hand, I aim to lead the team toward success.

How do you stay informed about the ongoing trends in your industry, ensuring that you guide your organization toward the future?

As a finance leader, possessing advanced technical skills is imperative in transcending beyond a mere understanding of current industry issues. It involves the capacity to not only navigate existing challenges but also to financially steer the organization towards the future, adding value across all aspects of the journey. Distinguishing between an accountant and a finance leader lies in the ability to exploit current situations and explore the unknown. Personally, I perceive my role as that of a business partner to the CEO and Board of Directors, collaboratively steering the organization to achieve a harmonious blend of corporate goals, and balancing financial objectives with social aspirations.

To stay abreast of industry dynamics, I consistently engage in knowledge-sharing sessions, attend seminars, and actively seek information on contemporary issues, spanning financial, environmental, social, political, and governance realms. Recognizing that these factors exert influence, whether immediately or in the future, I understand the importance of continuous learning. Regardless of one's current position, the pursuit of knowledge is unending. While knowledge may never be exhaustive, possessing the right information enables the anticipation of challenges, the identification of opportunities, and the application of expertise in making informed decisions. In a world where change is constant, the ability to adapt becomes a critical determinant of success.

In essence, the philosophy is simple: never cease learning, consistently stay informed about evolving trends, and approach change with a positive mindset.

What lies on the horizon as your future destination?

My future destination is centered around championing the financing for Micro, Small, and Medium-sized (MSM) businesses in Malaysia, particularly those underserved by the mainstream banking system. I aim to enhance their access to financing and fortify their resilience by instilling a deeper understanding of corporate governance and sustainability practices. Viewing MSM businesses as potential catalysts for economic growth, I envision a larger role for them in propelling the nation's economy forward with a ripple effect.

With a commitment to fostering economic empowerment, I aspire to lead an organization dedicated to supporting and nurturing MSM businesses in Malaysia. Beyond personal ambitions, my goal is to cultivate future leaders who will continue to contribute to the growth of these businesses, becoming integral pieces of the broader economic landscape. Recognizing the pivotal role of every individual and leader in this collective effort, I aim to shape a future where the MSM sector not only significantly contributes to the GDP but also serves as a multiplier effect, creating a substantial impact on the nation's economy. Recent data highlights the substantial contribution of MSM industries to the Gross Domestic Product, exports, and employment, reinforcing the immense potential for further growth and economic development in this sector.

Given your extensive industry experience, what guidance would you offer to emerging leaders in the field?

As a leader overseeing a workforce of over 2,400 employees, I stress the paramount importance of incorporating the human element into the corporate equation to attain organizational goals. Instilling a People-First culture ensures that one of the most crucial stakeholders becomes an integral part of the solutions, rather than being merely a part of the process.

In the current era, characterized by the influence of Artificial Intelligence and other dynamic factors, recognizing the significance of the human factor is vital for maintaining a grounded approach while navigating the evolving landscape. Employees operating in an environment that prioritizes their well-being and values their contributions tend to exhibit higher and more consistent performance. Moreover, fostering a sense of meaningful work enhances teamwork, fostering a collaborative spirit.

It is imperative for companies to reciprocate the care shown by their employees, as this mutual regard cultivates a genuine connection between the workforce and the organization. Let us collaborate in shaping a brighter future, where even the smallest impact contributes to leaving a lasting mark on history.

Norsharizal Mashahri, Deputy Managing Director & Chief Financial Officer Amanah Ikhtiar Malaysia (AIM)

Norsharizal Mashahrin is a seasoned finance professional boasting more than 24 years of experience in spearheading organizations committed to providing equitable opportunities for micro, small, and mediumsized entrepreneurs to secure enhanced business financing. His vision extends beyond the immediate, aspiring for these businesses to evolve into major players in the economic landscape, emphasizing the profound impact that small steps can have on the larger economic canvas.