Lessons On Adding Value as Head of Tax | Tom Borec (Dermavant, eBay, PwC)

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Tax Leaders Unplugged

Loctax

18 episodes

6 days ago

Welcome to the Tax Leaders Unplugged, a podcast hosted by Stevi Frooninckx (CEO & Co-founder at Loctax), where we go beyond the numbers and the rules, delving into the essence of leadership in the tax world. Our focus isn’t on tax technicalities; it’s on the people behind them. Join us for in-depth conversations with leading in-house tax professionals, exploring collaboration, team management, and career development. Stay tuned for unique insights and advice you won’t find on Google, tailored to enhance your tax leadership journey.

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Lessons On Adding Value as Head of Tax | Tom Borec (Dermavant, eBay, PwC)

Tax Leaders Unplugged

44 minutes 52 seconds

1 year ago

Lessons On Adding Value as Head of Tax | Tom Borec (Dermavant, eBay, PwC)

Could an MBA help unlock new opportunities in your tax career? In this episode of Tax Leaders Unplugged, host Stevi Frooninckx is joined by Tom Borec, Head of Tax at Dermavant Sciences. Tom has worked in tax for the past two decades in senior roles at top companies, including Deloitte, eBay, and PwC. Although he had already worked as a Head of Tax, Tom recently obtained his MBA. In today’s conversation, we discuss:

• The milestones to becoming Head of Tax and different paths you can take

• How an MBA broadens your perspective and improves your ability to communicate with shareholders

• The difference between adding value and creating value in an in-house tax context

• Why your relationship with your boss matters—and actionable advice on building a better relationship

• And much more

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Where to find Tom Borec:

• LinkedIn: https://www.linkedin.com/in/tomborec/

• X: https://x.com/tomborec

• Website: https://tomborec.com/

Where To Find Stevi Frooninckx:

• LinkedIn: ⁠⁠https://www.linkedin.com/in/stevifrooninckx⁠⁠

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In this episode, we cover:

(02:22) Why Tom decided to pursue an MBA

(08:40) The paths to Head of Tax

(10:39) The experience and soft skills needed to become a Head of Tax

(14:21) Why your relationship with your boss matters, and how openness facilitates growth

(17:31) Tips on earning your boss’s trust

(21:15) Value protection vs. value creation and how to communicate to stakeholders

(25:08) Why compliance is important, but not sellable as ‘adding value’

(28:04) How to add value by stepping outside of traditional tax roles

(33:59) Communicating with the core business team

(36:00) How to improve your relationship with finance

(38:10) An example of incremental improvement from Tom’s rucking journey

(41:08) Tom’s final advice

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Referenced:

• A Path to Head of Tax: https://www.linkedin.com/posts/tomborec_tax-finance-leadership-activity-7165271773431676928-w6xs/

• What They Don't Teach You at Harvard Business School: Notes from a Street-smart Executive: https://www.amazon.com/What-Teach-Harvard-Business-School/dp/0553345834

• GoRuck: https://www.goruck.com/

• Jocko Podcast: https://jockopodcast.com/

• The Tim Ferriss Show: https://tim.blog/podcast/

• Huberman Lab Podcast: https://www.hubermanlab.com/podcast
• Extreme Ownership: How U.S. Navy SEALs Lead and Win: https://www.amazon.com/Extreme-Ownership-U-S-Navy-SEALs/dp/1250183863