Advancing your career in tax webinar | recap

What skills, experiences and mindsets will define the next generation of successful tax leaders as the profession undergoes its most significant transformation in decades?

We recently hosted our annual US webinar on advancing your career in tax, bringing together three senior leaders to share their perspectives on building a successful modern tax career.

Our panel included:

• Wayne Monfries, Senior Vice President Global Tax at Visa
• Walter Doggett III, Chief Tax Officer at First Horizon Bank and TEI International President
• David J. Sekula, CEO of Global Tax Management Inc.

In case you missed it, here’s a recap of the key themes, insights and practical takeaways discussed during the session.

Building a long-term tax career

“Should tax professionals specialise early or focus on building broad experience?”

Insight

All three leaders agreed that early career breadth is invaluable. Exposure to federal, state, international, provision, controversy and planning work builds the foundation for long-term leadership roles. Specialisation comes later and should be driven by genuine interest, not pressure.

They also reinforced that salary should not dictate early career decisions. The right experience is far more valuable than a small pay difference early on.

Takeaway

Build breadth first. Specialise when your interests become clearer. Prioritise experience over short-term salary gains.

Moving from public accounting to industry

“When is the right time to move in-house, and what should professionals consider?”

Insight

The panel strongly encouraged starting in public accounting and staying long enough to benefit from the training, structure and discipline that firms offer. Many young professionals jump too early, missing the developmental value of reaching manager level.

When moving, the focus should be on the opportunity, not the compensation. A great company with growth potential will accelerate your career far more than a short-term financial gain.

Takeaway

Stay in public long enough to build a strong foundation. Move for the right opportunity, not the highest offer.

Insourcing, outsourcing and the shifting tax landscape

“How are companies approaching outsourcing versus keeping tax work in-house?”

Insight

The panel noted a pendulum effect. Many large organisations are currently outsourcing significant portions of tax compliance due to technology and cost pressures. However, gaps in quality, control and timing often arise.

Some leaders, including Walter, are actively bringing compliance back in-house because internal teams can be faster, more accurate and more aligned with business priorities. Co-sourcing continues to grow as a flexible model.

Takeaway

Expect outsourcing to continue rising, but insourcing will remain attractive for organisations focused on control, quality and strategic integration.

The impact of automation and AI

“How are tax functions adopting AI and what limitations exist today?”

Insight

AI is already transforming tax functions. Examples shared included tools for generating draft IDR responses, bots that summarise global legislation updates and internal AI platforms within regulated industries like banking.

However, the most significant limitation remains data. AI outputs are only as strong as the data they’re trained on. Investment in clean, structured data is important.

Critically, AI will not replace tax professionals. Instead, professionals will be replaced by others who know how to use AI effectively.

Takeaway

AI literacy is now a core skill. Junior professionals must embrace AI tools or risk being left behind.

Navigating global trade policy and tax reform

“How should tax leaders plan amid constant global policy changes, tariffs and shifting legislation?”

Insight

Tax functions must remain nimble. Panellists stressed the importance of monitoring policy, developing exit strategies for planning positions and staying closely connected to industry groups such as TEI.

Communication is vital. CFOs expect tax teams to spot emerging issues early and translate technical developments into commercial implications.

Takeaway

Stay proactive. Prioritise continuous learning. Build strong internal and external networks to navigate policy uncertainty.

The critical skills for the modern tax professional

“What capabilities matter most for future career progression?”

Insight

Technical excellence is still necessary, especially in tax accounting. A mistake in the provision can be a career-defining error. However, several other skills now differentiate top performers:

• Research capabilities, especially as AI increases reliance on summaries rather than source material
• Strong communication skills to translate complex issues for non-tax stakeholders
• A commercial mindset with the ability to deliver planning opportunities and measurable value
• Cross-functional collaboration with finance, treasury, legal and operations teams

Takeaway

Technical skills get you in the door. Communication, commercial awareness and cross-functional influence move you upward.

Broadening from tax into the wider finance organisation

“How can tax leaders position themselves for broader finance or C-suite roles?”

Insight

Tax touches every part of the business. By proactively engaging with treasury, accounting, legal and business units, tax leaders build credibility as strategic partners.

Panellists emphasised that leadership, not technical knowledge, is what enables transitions into CFO or broader finance roles.

Takeaway

Build visibility across the business. Take on challenging cross-functional projects. Leadership skills open the door to wider opportunities.

The shortage of tax professionals

“Why is the tax talent shortage growing and will it reverse?”

Insight

The shortage is unlikely to improve soon. Fewer university students pursue accounting, exposure to tax is limited and finance appears more attractive to many undergraduates.

But this shortage has increased the importance and visibility of tax within organisations. Tax leaders are now more integrated into strategic decision-making than ever before.

Takeaway

The tax talent shortage is here to stay, which means strong career prospects for those entering or staying in the field.

Ultimately, the webinar reinforced a simple message: tax is a profession full of opportunity for those who commit to learning, stay adaptable and embrace technology. Whether you’re early in your career or planning your next leadership move, the path is rich with potential.

If you would like to discuss your own tax career or build your tax team, get in touch today.