Financial Controller at High Roller
Wayne Formosa is a qualified Accountant with over 8 years of iGaming experience and currently holds the position of Financial Controller at High Roller, a key player within the iGaming industry.
Wayne started his professional journey, when he joined the iGaming industry while still completing his A’ level studies. He was initially tasked with verifying KYC documents, but his innate curiosity and affinity for numbers soon drew him towards the financial intricacies of the business. Fuelled by his academic pursuits in accounts, he seamlessly transitioned into the finance team, where he delved deeper into the accounting aspects of the iGaming sector.
After completing his Master in Accountancy from the University of Malta, Wayne joined a leading Investment Fund Company where he was entrusted with overseeing the entire financial spectrum, from the approval of invoices to the compilation of comprehensive management accounts and variance analysis.
Despite this enriching experience, Wayne explains that his passion towards the iGaming industry eventually led him to assume the role of Finance Manager within an iGaming start-up entity. Within a few months, he was promoted to the role of Financial Controller and entrusted with establishing the financial infrastructure for diverse entities within the group, which included B2B, B2C, SaaS, Crypto, and Affiliate Companies.
In his current role, Wayne leads a dedicated team of five finance professionals, overseeing their day-to-day activities and fostering their professional development. His role also involves conducting thorough financial analysis, treasury management, financial reporting, cash flow planning and liquidity management as well as supporting strategic financial decision-making.
Wayne explains that in the iGaming industry, the challenges are not only constant but also diverse, making each day a unique test of adaptability and resilience. With technology and consumer preferences evolving rapidly, the pace of change in this sector is unmatched. From regulatory shifts to advancements in gaming technology, staying abreast of developments is paramount. Failure to adapt swiftly can result in being left behind in an industry that thrives on innovation.
Wayne believes that stepping out of one’s comfort zone is essential to achieve growth. The diverse nature of the accounting field constantly presents new obstacles to overcome, and it is crucial to approach them with determination and creativity. Wayne explains that each challenge faced so far in his career has propelled him forward, and instilled in him the resilience that is necessary for one to succeed in a high-level finance role.
Wayne views the accountancy profession as being both challenging and rewarding. The satisfaction derived from mastering complex financial systems, providing valuable insights, and helping businesses thrive is immeasurable. In his own words, ‘Accountants play a crucial role in ensuring the financial health and success of organizations, making it a deeply fulfilling and self-satisfactory career path’.
