ICAS’s top Scottish accountants under 35 in profile – Kimberley Oliver of Xenith Financial Consulting Limited

Thirteen Scottish-based accountants have been named among ICAS’s 35 Chartered Accountants (CAs) under 35 for 2017.

For 13 days Scottish Financial News will be profiling each of the Scottish representatives.

Today we profile: Kimberley Oliver CA, 29, director, Xenith Financial Consulting Limited in Aberdeen, who is nominated in the Entrepreneurship Category.

At the age of 22, Kimberley qualified as a CA achieving first time passes in all the examinations including a commendation in the Test of Professional Expertise exam whilst working at PwC. She was subsequently promoted to Assurance Manager at the age of 23, representing one of the youngest promotions within the firm. Kimberley set up her own business, Xenith Financial Consulting Limited in 2016. At the end of its first year, Xenith achieved a six-figure turnover and has successfully completed work for a variety of clients from small growing businesses to listed billion-pound turnover companies.

“In 2013, I became Group Financial Controller for Nautronix Group Limited, a high growth, global SME. Responsible for the global finance function, I was an integral part of the management team prior to being involved in the successful sale of the Group. By 2015, I had advanced to become the Group Finance Director of a global recruitment group before setting up my own business, Xenith Financial Consulting Limited in May 2016.

Xenith Financial was launched in Aberdeen during the midst of the longest and most severe oil and gas downturn in generations representing a huge personal and professional risk by leaving a lucrative Finance Director role to create my own legacy. Despite the turmoil in the sector, I identified a gap in the market for quality, flexible but ultimately affordable senior finance support by using my vast knowledge of the sector and awareness of business needs to create my own company. Although I trained as an accountant with a “Big-4” accounting firm, I have a passion for supporting smaller enterprises, working closely with management teams and making a significant difference to their organisations.

Xenith Financial allows SMEs to access high quality finance support on a fully flexible basis to meet their business needs rather than pay for a full-time staff member. We offer tailored services to each client that can be mobilised quickly and deliver immediate results at an affordable price. The company principles of “simplicity, practicality and efficiency” were established early and I have focused on creating a track record of delivering on these.

During the first three months, the business delivered several important engagements to a range of clients, from business forecasts for a growing small business to project assistance for a FTSE 250 company, and we quickly developed a strong revenue stream, solid client base and a pipeline of work into 2017 despite the economic challenges faced by businesses in Aberdeen and competition from established consulting companies.

In October 2016, only five months since the business was established, the first full-time staff member was employed. At the end of its first year, Xenith achieved a six-figure turnover and has successfully completed work for a variety of clients from small growing businesses to listed billion-pound turnover companies.

The CA qualification has made a significant difference to my success. There is already an established level of credibility and expertise before you meet a potential new client as it proves your value as a business advisor before you walk in the door. The breadth of experience you obtain with the CA qualification has helped throughout all of my client assignments, whether it is providing technical accounting guidance, building a forecasting model or sourcing new finance. The CA qualification helped me to obtain my previous roles, without which I would not have had the confidence or the experience to set up Xenith Financial. I am proud to represent the CA qualification, which is why my opening introductory line is always “I am a CA”.

The CA qualification has provided me with a solid foundation of knowledge in all areas of business and has developed me as a valued and trusted business advisor not just as a traditional accountant. The CA qualification provides credibility and proof of my value and expertise before I meet any potential client. The qualification has enabled me to obtain all of my previous staff roles, without which I would not have developed the confidence or experience to set up Xenith Financial”.