The Power of Passion E10
In the podcast episode of Financial Footsteps, host Chad Dean introduces Scott Magnano, the former CFO of Medicx Health, highlighting his extensive experience in accounting and finance.
Scott Magnano emphasizes the importance of seizing opportunities, continuous learning, and adapting in the financial industry. He shares insights into his career journey, advocating for transparency, authenticity, and a broader understanding of FP&A’s value beyond accounting roles. Reflecting on his transition from banking to health industries, Magnano emphasizes the transferability of finance skills across sectors and advises young professionals not to limit themselves to one field.
Listen to the full interview with Scott Magnano on Financial Footsteps to gain valuable insights into building a successful career in finance.
Scott does an incredible job of describing the source of his passion and his drive to succeed. A great listen for anyone who has an interest in achieving greatness in anything – not just Finance!
Founded in 2006, Medicx is a leading omnichannel marketing and analytics company. Trusted by over 61 pharmaceutical manufacturers, 154 brands, and over 35 world-class media agencies, Medicx uses patented geo-targeting and HIPAA compliant deterministic identity resolution technologies to improve ROI on digital advertising programs.
Their solutions for pharmaceutical campaign planning, execution, measurement and optimization maximize brand impact by connecting the entire customer journey with an omnichannel engaged experience. In October 2023, Medicx was acquired by OptimizeRx.
Scott Magnano currently serves as Advisor to OptimizeRx (NASDAQ: OPRX) after their acquisition of Medicx Health in October 2023. Scott joined Medicx Health in 2019 as Chief Financial Officer and was responsible for setting and executing a complete financial turnaround that delivered record-setting topline growth and increased EBITDA from break-even to 20+%, leading to the company’s successful acquisition for $95M. Scott gained his footing as an executive leader early in his career while progressing through various roles and industries, including insurance, cybersecurity software, and banking. Scott is known for his versatility, deep understanding of financial operations, and his propensity for pushing the limits of business performance by leveraging financial data, his proven strategic mindset, and his exceptional ability to influence and lead cross-functional teams.
Prior to joining Medicx, Scott served as Assistant Vice President – Financial Planning and Analysis for CNA National Warranty Corporation, where he championed a newly created role to build out the company’s first-ever FP&A organization. Under his leadership, Scott’s team unlocked and leveraged key insights that led to a $30M boost in profitability for the $430M business unit. Additionally, Scott recognized an opportunity to create a quasi-loan program that not only generated $7M in new revenue with double-digit margins but also strengthened strategic partnerships and stifled competition.
Of the many ways Scott has created significant value for the organizations he has served is his ability to develop, implement, and leverage robust systems to create invaluable financial data and insights where they didn’t previously exist in order to guide informed strategic and tactical planning that, without fail, has driven growth and profitability to unprecedented levels time and again.
Earlier in his career, Scott worked for multiple publicly-traded insurance companies as Regional Financial Officer, Director of Finance, and Director, Financial Planning and Analysis. Among his numerous accomplishments during this time, Scott increased profitability 4pts on 20% of all premiums at The Travelers Companies Inc. after conceiving a game-changing tiered agency segmentation model, set a strategic acquisition strategy to grow book transfer premiums by 50% at The Hanover Insurance Group, where he was also responsible for a $610M P&L, and sparked an operational redesign creating $20M in operating efficiencies at The Hartford Financial Service Group.
Scott is a graduate cum laude with a Bachelor of Science in Mathematics from Eastern Connecticut State University, where he was an avid soccer player. Scott currently resides in the greater Phoenix metro area and enjoys spending time with his family, supporting his children’s youth athletics activities, traveling, and playing golf.
Connect with Scott on LinkedIn.
About Financial Footsteps
Financial Footsteps is dedicated to providing insider access to successful accounting and finance leaders thereby providing ideas, insights, and ‘secrets to success’ to those aspiring to be leaders themselves.
Interactive conversations with guests will reveal the genesis for a career in accounting and finance, the great (and not so great) decisions that were made along the way, and the advice that these leaders would give to their younger selves.
About Your Host
Chad Dean has been an executive recruiter since 1996. He currently is owner and CEO of a top-ranked national recruiting firm with a 33 year history servicing the Finance disciplines.
Chad Dean’s relaxed and authentic recruiting style combined with a relentless work ethic and dedication to ethical recruiting has propelled him to the highest levels of success in recruitment and career counseling. He has been sought after by CNBC, the Wall Street Journal, and numerous other publications for his expertise.
Chad Dean is a proud Arizona native, married for 21 years, with two second-generation native teenage sons. He has an MBA from Arizona State University and a BS in Biology from FHSU.
About Our Sponsor
Integrated Management Resources was founded in 1990 in Tempe Arizona. Starting with clients like Goldman Sachs (first client and still a client today) and top Wall Street hedge funds, IMR built a robust recruiting process that digs out the most desirable ‘passive’ candidates from our client’s competitors.
IMR’s Phoenix Accounting and Finance practice services large and medium sized organizations for mid-senior level full-time placement and interim staffing.
