In this episode of Financial Modeler's Corner, host Paul Barnhurst is joined by Chris Reilly, founder of Financial Modeling Education, for an insightful discussion on the importance of mastering financial modeling fundamentals in the age of AI. Chris shares his perspective on how AI is transforming the modeling industry, why understanding the basics is more important than ever, and how dynamic arrays are changing the modeling landscape.

Chris Reilly is a financial modeling expert with over 91,000 students trained globally. He has a diverse background, having worked in private equity and FP&A, and has developed a range of training programs through Wall Street Prep, Wharton, LinkedIn Learning, and his own courses. Chris emphasizes that strong foundational knowledge in finance and accounting is crucial to leveraging AI and new technologies effectively.

Expect to Learn

1. Why mastering the fundamentals of financial modeling is essential in an AI-driven world
2. How Chris integrates AI tools to enhance his modeling work
3. The role of dynamic arrays in streamlining financial models
4. The balance between technical skills and business decision-making
5. Insights on why complex models aren't always better

Here are a few quotes from the episode:

1. “AI is a magnifier. If you know what you're doing, it helps you get more done. If not, it makes problems worse.” - Chris Reilly
2. “The real goal of any model is to help the business understand what to do next, not just to show off technical skills.” - Chris Reilly

Chris highlights how AI can help with dynamic arrays and improve model efficiency, but stresses that it should never replace the need for a strong understanding of financial fundamentals. His focus is on helping modelers leverage the right technology without bypassing essential knowledge.

Follow Chris:

LinkedIn: https://www.linkedin.com/in/chris-reilly-mission-capital/

Homepage: https://www.financialmodelingeducation.com/

Email list: https://financialmodelingeducator.com/

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In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes back Chris Reilly for a deep and practical conversation on financial modeling fundamentals in the age of AI. Chris shares why mastering the basics still matters more than ever, how AI is changing modeling workflows in reality (not hype), and where automation genuinely adds value versus where human judgment is still essential.

Chris Reilly is a former private equity professional and financial modeling expert with experience spanning restructuring, FP&A, treasury, and middle market private equity. He began his career at FTI Consulting during the financial crisis, working on major bankruptcies, including Lehman Brothers, before moving to Hilton Worldwide and later into private equity. Chris is the founder of Financial Modeling Education, where he has trained more than 90,000 professionals worldwide, teaching real-life models used to acquire and manage private equity-backed businesses.

Expect to Learn

1. Why financial modeling fundamentals matter more than ever in an AI-driven world
2. How Chris actually uses AI in real client models versus online hype
3. Why simple, well-built models outperform overly complex ones
4. How to balance technical modeling skills with business decision-making

Here are a few quotes from the episode:

1. “AI is a great accelerator if you already understand the fundamentals. If you don’t, it just magnifies the problem.” - Chris Reilly
2. “There’s a missing middle right now where people are skipping the fundamentals and jumping straight to the results.” - Chris Reilly

Chris emphasizes that while AI and automation can improve efficiency, they do not replace the need for strong accounting knowledge, modeling fundamentals, and business understanding. He explains that the best modelers focus less on tools and functions and more on clarity, reliability, and helping decision makers understand what to do next.

Follow Chris:

LinkedIn: https://www.linkedin.com/in/chris-reilly-mission-capital/

Homepage: https://www.financialmodelingeducation.com/

Email list: https://financialmodelingeducator.com/

Follow Financial Modeler's Corner:

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’....

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Luke Phillips, Senior Business Analyst at Access Analytic. Luke shares how he transitioned from Division I basketball to financial modeling, and how he helps clients solve complex budgeting and reporting problems using Solver, Excel, and Power BI.

Luke Phillips is a chartered financial modeler and the Senior Business Analyst at Access Analytic. He works with clients across mining, oil and gas, manufacturing, and professional services to streamline budgeting and reporting through Solver and Excel. Luke holds a BBA in Finance from the University of Louisiana at Monroe, where he also played Division I basketball.

Expect to Learn

1. How a bad college project helped kickstart Luke’s modeling career
2. What Solver is and how it supports complex planning and reporting
3. Tips for simplifying models without losing value
4. The role of communication in building useful models
5. Luke’s take on AI and dynamic arrays in Excel

Here are a few quotes from the episode:

1. “We're not hiring you for your technical ability, we're hiring you for your potential.” – Luke
2. “I love spreadsheets, the way you can pull complex calculations together and form a view of a company.” – Luke

Luke Phillips brings a grounded, real-world perspective to financial modeling, shaped by both professional experience and athletic discipline. His approach blends technical skill with a clear focus on communication and usability. Whether solving client challenges with Solver or exploring new Excel features, Luke keeps modeling practical and purpose-driven.

Follow Luke:

LinkedIn: https://www.linkedin.com/in/luke-phillips-75859013a/

Company: https://www.linkedin.com/company/access-analytic/

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LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register.

In today’s episode:

[02:09] - Life in Australia & Background

[03:16] - First Model Mistake &...

In this episode of Financial Modeler’s Corner, host Paul Barnhurst sits down with Karishma Ramnawaj, a financial modeler based in Mauritius, to talk about her journey in financial modelling, building and reviewing models, and the lessons she’s learned from both success and failure. Karishma shares her experience of learning on the job, why understanding the end user is critical, and how she balances practical standards with flexibility.

Karishma is a Certified Advanced Financial Modeler (AFM) and FMVA® professional, currently working as a Financial Modeler Associate at Hawkins Eberdal Ltd in Mauritius. With a strong foundation in both project and corporate finance, Karishma specializes in building decision-ready financial models that support capital raising, risk evaluation, and business growth.

Expect to Learn

1. Why using someone else’s model as a template can be risky
2. The importance of understanding and communicating key assumptions
3. How to tailor models for investors and third-party users
4. What it’s like to fail, and then pass, the AFM exam
5. The value of applying both corporate and project finance in modelling

Here are a few quotes from the episode:

1. “If you're going to use someone else's model, make sure you understand everything inside it.” – Karishma
2. “It's not just about Excel. It's about who's using the model and what story you're telling with it.” – Karishma

Karishma's story is a great example of growth through practice, persistence, and passion for financial modeling. Her focus on clarity, flexibility, and end-user needs brings valuable perspective to the modelling process. From overcoming early challenges to passing the AFM exam, she shows the importance of continuous improvement.

Follow Karishma:

LinkedIn: https://www.linkedin.com/in/karishma-ramnawaj/

Follow Financial Modeler's Corner:

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register.

In today’s episode:

[01:56] - Guest Intro

[04:51] - Journey into Modelling

[06:00] - Why She Loves Modelling

[08:37] - Storytelling with Numbers

[10:56] - Key...

In this episode of The ModSquad, hosts Paul Barnhurst, Ian Schnoor, and Giles Male welcome Tim Jacks, founder of Taglo, for an insightful discussion on the integration of AI in financial modeling. Tim’s expertise bridges the worlds of financial modeling and AI, and in this episode, he shares his journey and discusses how AI is reshaping the financial modeling landscape.

Tim Jacks is the founder of Taglo, a company dedicated to improving financial modeling with AI technology. His career journey spans financial consulting and software development, including building financial modeling tools. Over time, Tim's interest in artificial intelligence grew, and he delved into how AI, particularly Large Language Models (LLMs), could be used to enhance financial modeling processes.

Expect to Learn

1. How AI is revolutionizing financial modeling and the specific ways it’s being used today.
2. The technical components behind AI agents and how they differ from simple chatbots.
3. The importance of context and system prompts when working with LLMs in financial tasks.
4. Insights into the memory limitations of LLMs and how agents work around this challenge.

Here are a few quotes from the episode:

1. "If you're using AI for Excel modeling, you need to remind it to follow good financial modeling principles, like the FAST Standard." – Tim Jacks
2. "The beauty of LLMs is that you can go back and change the conversation, they're stateless, so it's like resetting the clock." – Tim Jacks

Tim Jacks provided valuable insights into the integration of AI in financial modeling, particularly how LLMs and agents are transforming workflows. While AI can significantly enhance efficiency, human expertise remains essential for applying financial modeling principles. Understanding the technical workings of these tools helps users leverage them effectively. The future of financial modeling will be human-led, AI-assisted.

Follow Tim:

LinkedIn: https://www.linkedin.com/in/timjacks/

Follow Ian:

LinkedIn - https://www.linkedin.com/in/ianschnoor/

Follow Giles Male:

LinkedIn - https://www.linkedin.com/in/giles-male-30643b15/

In today’s episode:

[00:05] - Intro & Hosts

[01:33] - Guest Introduction: Tim Jacks

[02:42] - Tim's Background in Modelling & AI

[04:16] - What Are LLMs Really?

[09:55] - ChatGPT vs. LLMs Explained

[12:09] - LLMs Have No Memory

[15:02] - How Tools Add Context to AI

[19:35] - What Is an AI Agent?

[22:35] - How Excel Agents Work

[30:08] - Demo: Tools in Action

[35:03] - Defining an Agent: LLM + Tools + Prompts

[38:49] - Key Takeaway for Modellers

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Carolina Lago, a seasoned FP&A professional, to discuss how financial modelers can transform data into actionable insights while avoiding common modeling pitfalls. Together, they explore best practices in financial modeling, the dangers of hard-coded models, and why structure, flexibility, and clear purpose are essential for effective decision-making. Carolina also shares lessons from her international career, including her experience supporting a major IPO and leading global software implementations.

Carolina Lago is an FP&A professional with over 15 years of international experience across multiple industries. She has played key roles in high-impact projects, including IPO preparation and enterprise-wide financial system implementations. Carolina is also the creator of the TACTIC framework, which helps financial professionals build models that are structured, insightful, and decision-focused.

Expect to Learn

1. Why hard-coded models are a major risk to accuracy and flexibility
2. How to turn raw data into insights that drive real business decisions
3. The importance of starting every model with a clear question or goal
4. How the TACTIC framework improves structure and clarity in modeling
5. Why strong modeling skills matter at every career stage

Here are a few quotes from the episode:

1. “I inherited one, and I had to try to change it. I spent probably a couple of weeks trying to make it better, and I couldn't. It was just too full of hardcoded numbers and no design at all.” – Carolina Lago
2. “Data is only useful if it can be transformed into actionable insights.” – Carolina Lago

Follow Carolina:

LinkedIn – https://www.linkedin.com/in/s-carolinalago/

Website – https://www.tacticfinancial.com

In today’s episode:

[00:00] - Trailer

[00:50] - Guest Introduction

[01:00] - Horrifying Financial Models

[02:00] - Early Career Modeling Mistakes

[03:10] - Carolina’s Global Career Journey

[05:00] - Turning Data into Actionable Insights

[07:30] - Introduction to the TACTIC Framework

[09:50] - Learning Resources & Community Engagement

[20:00] - Certifications and Continuing Education

[22:40] - Rapid-Fire Round

[24:50] - Advice for Aspiring Financial Modelers

[26:00] - How to Connect and Learn More

In this special episode of Financial Modeler’s Corner, host Paul Barnhurst recaps an exciting 2025 and outlines what's ahead for 2026. Paul reflects on the top five most downloaded episodes of the year, shares insights from key guests, and highlights major developments in financial modeling, including Excel's newest features and the growing role of AI.

Expect to Learn

1. Key trends in Excel and financial modeling from 2025
2. How AI is changing the way models are built, tested, and audited
3. The importance of simplicity, documentation, and user involvement in model design
4. Why communication and business understanding are becoming essential skills for modelers

Here are a few quotes from the episode:

1. “Complexity can backfire by making you indispensable in ways that hurt your career growth.” – Paul Barnhurst
2. “AI is a magnifier, it makes good modelers better and highlights weaknesses in those without a solid foundation.” – Paul Barnhurst

In today’s episode:

[02:01] – Mod Squad Launch

[03:02] – AI and Modeling

[03:45] – Excel Feature Highlights

[06:28] – Excel Championship Recap

[10:12] – AI in Financial Modeling

[12:54] – Time-Saving Modeling Tips

[16:02] – Three-Statement Modeling

[17:38] – Strategic Thinking for Modelers

[20:30] – Final Thoughts and Certification Offer

In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Ian Bennett, Partner and Deals Modelling Leader at PwC Australia, to discuss the art and science of financial modeling. Together, they explore what makes a good financial modeler, how Excel has evolved dramatically in recent years, and how emerging tools and AI are shaping the future of modeling. Ian reflects on his decades-long career, from his early days discovering Excel during audits to leading a large team of modelers across Australia and India.

Ian Bennett is the Deals Modelling Partner at PwC Australia and a Master Financial Modeler (MFM) certified by the Financial Modeling Institute. With 24 years of hands-on experience in building and leading modeling teams, Ian’s approach combines deep technical expertise with a strong focus on communication, design, and problem-solving. He leads a 50-person modeling team at PwC and is known for his passionate advocacy for best practices, new tools, and innovation in modeling, including integrating AI and the latest features in Excel.

Expect to Learn

1. Why defining a model’s purpose upfront is essential to success
2. The most important listening and scoping skills great modelers must develop
3. How Excel’s evolution over the past 18 months is changing the game
4. What it means to be model-first vs. outcome-focused
5. Why curiosity and human insight are irreplaceable, even in the age of AI

Here are a few quotes from the episode:

1. “Every model tells a story, and that story should be known at the start of the project. It’s about understanding what questions the model needs to answer.” – Ian Bennett
2. “Be curious. That curiosity is what drives innovation in modelling, learning new tools, asking better questions, and solving real problems.” – Ian Bennett

Follow Ian:

LinkedIn - https://www.linkedin.com/in/ianrbennett/

Website - https://www.pwc.com.au/deals/modelling.html

In today’s episode:

[00:00] - Trailer

[01:09] - Introduction to Ian Bennett

[02:13] - Worst Model Ian Has Seen

[06:17] - Ian’s Background & Early Interest in Excel

[08:19] - Becoming a Master Financial Modeller (MFM)

[09:43] - Global Excel Summit Highlights

[11:53] - What Makes a Great Financial Modeller

[16:38] - Importance of Listening & Understanding Client Needs

[23:03] - Time Allocation: Design vs. Building in Excel

[28:14] - Modelling Tools Beyond Excel

[31:34] - Excel’s Evolution & Exciting New Features

[39:08] - Rapid Fire Questions

[41:50] - Will AI Build Financial Models?

[47:12] - Final Advice for Aspiring Modellers