 There's
no denying that BGS lifetime members are very talented people.
Just earning invitation into the Society places members within
a select group. Beyond their commonality as the "Best
in Business," lifetime members are extremely diverse
with a wide array of talents, backgrounds and expertise.
On
October 16th, the United Nations will observe World Food Day
with a special focus on agricultural cooperatives. In recognition
of the occasion, I recently caught up with Matt Renaud, a
proud BGS member who currently serves as the CFO of a non-profit
organization dedicated to agricultural development around
the globe. Matt is a fine example of a BGS member who has
found great career success while staying true to their inspirations.
I hope that you enjoy his story.
BGS Member Profiles
Matt Renaud
CFO, ACDI/VOCA
 Matt
Renaud always wanted to join the Peace Corps.
Even after obtaining an accounting
degree from the University of Notre Dame in Indiana, it was
a desire he just couldn’t shake. It was something he
had wanted to do since hearing one of his junior high teachers
share stories about her Peace Corps experience in Costa Rica.
Two years after college, Renaud
could fight the urge no longer. Instead of continuing with
his public tax job, Renaud followed his heart and applied
to the program.
When he was notified of his
acceptance in the Corps and placement in Turkmenistan, Renaud
was a bit surprised. He had hoped to land in Latin America
so he could use his Spanish language skills, but he enjoyed
putting his business skills to use instead.
In Turkmenistan, Renaud worked
alongside local entrepreneurs immersed in a culture he found
“exotic” and a business environment entirely foreign
to him.
“The challenge was working
under the Turkmen government,” Renaud said. “They
didn’t really want people to be successful, and if a
business became successful, the government would come and
take it over.”
Upon returning to the states,
Renaud set his sights on making a niche for himself in the
international development world.
A graduate degree was a logical next step. Renaud pursued
an international MBA at Monterey Institute of International
Studies in California, digging into areas like the Russian
language and trade policy programs. Upon graduating in 2003,
he focused his attention on international development and
the organizations that finance such global projects.
“I was interested in enterprise
development, microfinance, and Eurasia to use my Russian skills,”
Renaud said.
These interests led Renaud to
ACDI/VOCA. A merger of two organizations born in the 60’s
and 70’s, ACDI/VOCA is an economic development organization
that currently operates in 45 countries. Approximately 170
employees are based out of Washington DC, but nearly 1,350
employees work overseas.
“The primary distinguishing
factor is the work we do in agricultural development,”
Renaud shared. “A lot of other non-profits are focused
in health education or humanitarian assistance. There are
few of us who focus in agriculture.”
Renaud first learned about the organization during an informational
interview.
”[The interview] wasn’t
just to get the job,” Renaud explained. “I really
learned a lot more about the industry and the different players.”
The meeting struck a chord with
Renaud and resulted in him taking a role as budget manager
with the organization.
“It was more on the planning
side, which I like,” Renaud said about the position.
“It required more analysis and in some ways more creativity
versus the accounting side where you’re analyzing the
numbers after the fact.”
Four years later, Renaud assumed
the title of Chief Financial Officer. In his current role,
he oversees a staff of 26 at the ACDI/VOCA Washington D.C.
headquarters and another 100 or so out in the field.
“There are always audits
somewhere in the world, so we respond to audit requests, inquiries,
or problems,” Renaud explained.
Almost all of the overseas staff
are trained locals. They hold at least a university degree
and some type of CPA certificate and many are third-country
staff members, meaning they are non-Americans working overseas,
but not in their native country.
“When I travel, I go review
the financial management of our offices and identify issues,
train staff, or provide recommendations for how they can improve
their management controls,” Renaud explained. “There’s
a huge learning curve, so trying to relate your standard processes
can be a challenge.”
Yet Renaud said the regular travel
and interaction with different cultures is a highlight of
his position. “Learning the different ways of doing
business in these countries and cultures is a very enjoyable
aspect of the job,” he said.
Ensuring that the ACDI/VOCA funds
are spent appropriately is no easy task. The organization
lives on awards intended to provide support for about three-and-a-half
years. Consequently, Renaud is always busy.
“You’re constantly
trying to replenish one third of your business every year,”
he explained.
Despite the current economic
situation and the reality that ACDI/VOCA is mostly funded
by public donors, Renaud is optimistic about it all.
“Even though there’s
been a budget crunch, there’s been renewed focus on
what we do and the agricultural arena because of the world
food crisis,” he said. “So we’ve actually
been growing while a lot of other organizations are shrinking.
However, we expect to start feeling the effects in the next
few years. The question is how long will the budget crunch
last.”
Even though AVDI/VOCA is a non-profit,
Renaud knows the obligation to manage finances like a for-profit
business on behalf of ADCI/VOCA’s many grantees and
beneficiaries. Consequently, the organization functions much
like a for-profit company in some ways.
“Most of our work is grant
work versus contract work,” Renaud said. “But
we do both. We’ve increased the contracting work, which
is where the business side comes in. You really have to manage
your costs and the timing of your performance; you’re
reporting back to whoever is giving you the funds.”
When contracts come into play,
ACDI/VOCA might work with USAID as well as corporate sponsors
to perform enterprise development work or offer small business
training and technical assistance. Several energy companies
such as BP and Exon have funded ACDI/VOCA through community
investment programs that are managed in the same countries
in which they work.
Renaud interacts with these corporate
donors often. “At the proposal stage, we try to teach
them how we operate and how we manage our finances so they
can get comfortable with us and also understand our cost structure,”
Renaud said.
When all is said and done, Renaud’s Peace Corps mindset
helps him keep the primary beneficiary in mind as he manages
the bottom line.
“Rather than just building
up businesses, the intent is to help the farmer in the end,”
Renaud said. “It’s about creating the whole connection
within the industry so the farmer has better access to sell
their goods, but we’re trying to do it through more
of a for-profit business lens.”
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