Welcome to our series spotlighting the powerhouse professionals at the PayPay Group. Today, we’re diving into the world of accounting with Takayuki Okuda, the Senior Manager of the Accounting Department at PayPay Card. As a certified public accountant, he is leading his team into new ventures and maintaining excellence in accounting operations. Let’s explore his current projects and the inner workings of the accounting team.
Takayuki Okuda
Senior Manager of the Accounting Department, Finance and Accounting Division, PayPay Card
He passed the second stage of the Certified Public Accountant exam while still in university, going on to work in auditing and accounting advisory roles. He joined PayPay Card in February 2024 and became the Senior Manager of the Accounting Department in July of the same year, overseeing and guiding his team.
Captivated by the Unique Charm of PayPay Card
Could you tell us about your current role and mission?
The role of the Accounting Department Head is to build a robust accounting infrastructure that can support the company’s ambitions for growth. I leverage my skills and experience as a certified accountant to ensure seamless and accurate day-to-day accounting operations and challenge myself to support the team, elevating the entire Accounting Department.
What’s your career background?
I passed my CPA exams while still in university and started my career at an auditing firm. After about three years in auditing, I was compelled to support businesses from an accounting perspective and transitioned into an advisory role, helping clients with IFRS compliance. However, as the need for IFRS compliance among Japanese firms leveled off, I found myself eager to tackle new challenges.
What led you to join PayPay Card?
When considering my next move, I decided that working within a company’s accounting team to actively enhance the organization was appealing. PayPay Card was one of my options, but honestly, when I thought about accounting in the financial sector, I imagined a highly regulated environment with a conservative culture resistant to change. However, I recall that my impression completely changed when I actually attended the interview.
The person who conducted my first interview, now my boss, completely defied my expectations of the financial world—in a good way. Despite the laid-back attire, there was a sense of sincerity. I was particularly drawn to his straightforward request for someone strong in IFRS. Since I appreciate an honest approach when I’m interviewing candidates myself, I felt a connection with my potential supervisor’s values. His character, aligning with my own principles, ultimately convinced me to join PayPay Card.
Accelerating Project Timelines by Three Months: Prioritizing a Sense of Speed
Could you share an impactful initiative you’ve recently been involved with?
One of the most remarkable initiatives I have recently participated in revolves around clarifying the criteria for capitalizing development costs. Typically, the decision to record system development costs as an asset or an expense is guided by an array of accounting standards. However, the essential accounting principles are often articulated in complex terms such as “control” and “identifiability,” making it challenging to interpret without a specialized accounting background. Consequently, those tasked with system development were unable to make decisions independently, necessitating frequent consultations with the Accounting Department to determine the appropriate classification.
To address the inefficiency in labor resources within the Accounting Department, we embarked on creating a user-friendly checklist, enabling on-site personnel to independently evaluate accounting criteria. For instance, one criterion involves assessing “anticipated economic benefits.” This translates to evaluating whether the projected investment cost during development is expected to be surpassed by future profits. To streamline this process, we adjusted our format to include specific monetary figures for clarity.
Moreover, the checklist required alignment with our auditing firm before implementation, highlighting the need for prompt action to identify potential issues early on. It was essential to develop this tool swiftly, aiming for operational deployment without striving for perfection. Ultimately, we managed to advance the original launch deadline, initially set by the auditing firm for October 2024, by three months. We successfully commenced in July 2024 and, following iterative revisions to address minor emerging issues, believe we have crafted an effective and user-friendly checklist.
What are the key principles you prioritize in your work?
As demonstrated in the aforementioned initiative, I place significant importance on fostering a sense of speed. My inclination is to act swiftly, both personally and professionally, when decisions are made. From my time at an auditing firm, I observed that one common trait among high-performing individuals is their ability to work efficiently. Hence, I emphasize proactive action. Especially in professional settings, I believe in submitting preliminary drafts without striving for 100% completion, allowing for a more dynamic cycle of continuous improvement.
When do you feel most fulfilled in your work?
I derive satisfaction when I see my expertise contributing to organizational benefits and when I can facilitate an ongoing cycle of improvement. While I appreciate the rewarding aspect of providing external advisory insights, there has been a sense of unease when unable to partake in actual decision-making or operational phases, where, upon resolving an issue, the initiative concludes without witnessing the long-term impact. However, at a rapidly expanding company like PayPay Card, ongoing challenges frequently arise, offering continuous opportunities to propose and implement growth-oriented solutions. Being directly involved in steering these improvements as they unfold is genuinely rewarding.
Returning to the Fundamentals of Accounting: Cultivating an Environment for In-Depth Understanding
What kind of organization is the Accounting Department?
The Accounting Department consists of individuals who are calm, sincere, and capable of advancing their duties by adhering to internal regulations. It is a diverse environment with many mid-career hires and employees seconded from within the group, allowing for the exchange of opinions from various perspectives based on personal experience and previous work scenarios. However, we have not yet reached an accounting system that earns the trust of our stakeholders and contributes to maximizing corporate value. Everyone, including myself, is required to deepen their expertise in accounting and transform into an organization where each member can act autonomously as a professional in the field.
What do you prioritize in communicating with your subordinates?
I focus on fostering a style of communication that encourages individuals to think independently and actively drive initiatives. Especially in PayPay Card’s accounting, members must research accounting standards on their own and apply their interpretations to entirely new services that do not fit into existing frameworks. Therefore, I refrain from imposing my accounting judgments or business workflows onto the team. While allowing for personal judgments, I share my insights during discussions on ambiguous sections.
What type of experience can one gain in the PayPay Card Accounting Department?
From an expert’s perspective, the PayPay Card Accounting Department provides the ability to elucidate desirable accounting practices in a manner understandable to all. Unlike audit firms, our department requires explaining accounting concepts to field personnel less familiar with the subject. This requires us to explain the basics thoroughly, which might seem tedious at first.
However, accountants often overlook foundational explanations due to their detailed knowledge, assuming concepts like debit/credit are common knowledge. By returning to these basics and delivering clear explanations, one gains a profound understanding of accounting, grasping its essence. Additionally, should one wish to become independent, using the experience gained at PayPay Card, they also develop communication skills to explain complex accounting to clients unfamiliar with it, which becomes quite beneficial post-independence.
Supporting Business Growth as a Collective of Accounting Professionals
What are your future goals and vision?
Moving forward, we aim to create a department where each member becomes a professional in accounting and is capable of stating the rationale and conclusions based on accounting standards. While not often publicized, there are numerous cases where companies, due to unintentional errors or misunderstandings, must correct their financial statements, fostering distrust among stakeholders. We seek to enhance the expertise of all accounting members to minimize the risk of incidents occurring to the greatest extent possible.
Lastly, do you have a message for our readers?
There are numerous tasks to tackle as we strive to elevate every member’s capability. On the other hand, we foster an environment where expertise in accounting can be swiftly infused back into the organization without being hindered by traditional customs, thereby supporting business growth. We welcome applications from individuals eager to grow as accounting professionals by developing accounting processes for new ventures and services in a rapidly expanding company.
*Translated by Aun (PayPay’s AI helper)
*Job openings and employee affiliations are current as of the time of the interview.