Financial Modeler's Corner

In this episode of Financial Modeler’s Corner, Paul Barnhurst speaks with Diarmuid Early about what separates great financial modelers from technically capable ones, the rise of AI in financial modeling, and why judgment remains essential. Diarmuid shares lessons from his career, his experience as a three-time World Financial Modeling Champion, and why understanding what a model actually means matters more than simply building it correctly.

Diarmuid Early is the founder of Early Days Consulting, a data analytics and financial modeling consultancy. He previously worked at Boston Consulting Group and spent nearly a decade in Deutsche Bank’s Origination and Advisory division. He holds a PhD in computer science and is a three-time World Financial Modeling Champion, Excel MVP, and Master Financial Modeler

Expect to Learn:
Why great modelers think beyond simply building the model
How assumptions and business understanding drive valuable financial models
Where AI currently fits into financial modeling
Why AI-generated models still require careful human review
Why continuous learning remains essential for financial modelers

Here are a few relevant quotes from the episode:
“The hard part is getting everybody aligned. What are the assumptions?” - Diarmuid Early
“There is a smart way to do it. And so if you're banging your head against it, go find the smart way.” - Diarmuid Early

AI will continue to take on more of the technical work involved in financial modeling, but speed alone does not make a model useful or reliable. Strong modelers will continue to stand out through their ability to develop credible assumptions, interpret results, exercise judgment, and understand the decisions a model is meant to support.

Follow Diarmuid:
LinkedIn: https://www.linkedin.com/in/diarmuidearly/
YouTube: https://www.youtube.com/@dimearly

Follow Financial Modeler's Corner:
LinkedIn: https://www.linkedin.com/company/financial-modeler-s-corner/

Disclosure: Portions of this episode (such as the introduction or promotional segments) use AI-generated voice narration produced under human editorial review.
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Sign up for the Advanced Financial Modeler Accreditation today and get 15% off using the code “Podcast” at https://bit.ly/497oAqW

In Today's Episode:
[00:00] - Trailer
[03:31] - Diarmuid’s Journey Into Financial Modeling
[06:00] - Financial Modeler Stereotypes
[08:20] - Career Advice for Aspiring Modelers
[12:46] - Financial Modeling Competitions
[14:59] - Consulting, Coaching, and Career Evolution
[18:25] - Meeting Microsoft CEO Satya Nadella
[21:08] - AI and the Future of Financial Modeling
[25:41] - Why AI-Generated Models Still Need Review
[31:09] - Financial Modeling Standards and Best Practices
[35:19] - Diarmuid’s Most Challenging Modeling Case
[39:28] - Excel Shortcuts and Modeling Tools
[41:38] - Rapid-Fire Modeling Questions
[46:01] - Continuous Learning and Final Advice

In this episode of Financial Modeler’s Corner, Paul Barnhurst speaks with Ryan Humphrey about financial model auditing, the skills strong modelers need, and how AI is changing the profession. Ryan explains why communication, judgment, and independence matter alongside technical ability. He also shares how model audits work, why poorly structured models create risks, and how AI could shift financial modelers from building models toward reviewing and refining them.

Ryan Humphrey is a Partner at Forvis Mazars in London, specializing in financial model audits, including accounting and tax reviews. A qualified chartered accountant, he contributed to How to Review a Spreadsheet and co-authored Credible Model Audit for the AI Era. He is also conducting research with Cambridge University in sustainability leadership and is an advocate for the energy transition.

Expect to Learn:
Why communication is essential in financial modeling
How independent financial model audits support major investment decisions
Why human judgment remains critical as AI improves
How AI could shift financial modelers from building to reviewing
Why continuous learning is increasingly important in the AI era

Here are a few relevant quotes from the episode:
“The model really is... a communication vector more than anything. It's about telling a story.” - Ryan Humphrey
“What cannot be replaced is judgement.” - Ryan Humphrey

AI is becoming increasingly capable of understanding and building spreadsheets, but credible-looking outputs can still contain errors. As AI takes on more of the technical building process, financial modelers will need to focus even more on judgment, review, communication, and understanding what a model is designed to accomplish.

Follow Ryan:
LinkedIn: https://www.linkedin.com/in/rchumphrey/
Website: https://www.forvismazars.com/uk/en/users/our-team/ryan-humphrey
Follow Financial Modeler's Corner:
LinkedIn: https://www.linkedin.com/company/financial-modeler-s-corner/
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Sign up for the Advanced Financial Modeler Accreditation today and get 15% off using the code “Podcast” at https://bit.ly/497oAqW

In Today's Episode:
[02:31] - Why Communication Matters in Financial Modeling
[05:14] - Ryan’s Financial Model Audit Nightmare
[08:29] - How Financial Model Audits Work
[10:18] - What Model Auditors Actually Validate
[12:50] - Essential Skills for Model Auditors
[16:45] - How AI Is Changing Financial Model Audits
[19:26] - The Risks of Credible-Looking AI Models
[20:45] - Moving From Model Building to Model Reviewing
[21:25] - Continuous Learning and Final Advice

In this episode of Financial Modeler’s Corner, Paul Barnhurst speaks with Ryan Humphrey about financial model auditing, the skills strong modelers need, and how AI is changing the profession. Ryan explains why communication, judgment, and trust matter as much as technical ability. He also shares how model audits work, why poorly structured models create serious risks, and why finance professionals must continue developing their skills as AI takes on more of the building process.

Ryan Humphrey is a Partner at Forvis Mazars in London, specializing in accounting, tax reviews, and financial model audits. A qualified chartered accountant, he co-authored Credible Model Audit for the AI Era and is currently researching sustainability leadership with Cambridge University.

Expect to Learn:
Why communication is essential in financial modeling
How independent model audits support better decisions
Why human judgement remains critical in the AI era
How AI may shift modelers from building to reviewing
Why trust and continuous learning are becoming more valuable

Here are a few relevant quotes from the episode:
"The model really is a communication vector more than anything. It is about telling a story." - Ryan Humphrey
"Trust becomes so important because things can look right very quickly, even when they are not." - Ryan Humphrey

AI may make financial models faster to build, but it also makes careful review more important. The future belongs to professionals who can combine technical knowledge with judgement, communication, and trusted decision-making.

Follow Ryan:
LinkedIn: https://www.linkedin.com/in/rchumphrey/
Website: https://www.forvismazars.com/uk/en/users/our-team/ryan-humphrey
Follow Financial Modeler's Corner:
LinkedIn: https://www.linkedin.com/company/financial-modeler-s-corner/

Disclosure: Portions of this episode (such as the introduction or promotional segments) use AI-generated voice narration produced under human editorial review.
Newsletter - Subscribe on LinkedIn: https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation today and get 15% off using the code “Podcast” at https://bit.ly/497oAqW

In Today's Episode:
[00:00] -Trailer
[05:16] - Why Communication Matters
[06:45] - AI and the Future of Modeling Careers
[08:50] - Ryan’s Model Audit Nightmare
[12:26] - How Financial Model Audits Work
[17:36] - Essential Skills for Model Auditors
[21:35] - How AI Is Changing Model Audits
[27:54] - The Growing Importance of Trust
[32:34] - Why Continuous Learning Matters
[37:30] - Excel Preferences and Shortcuts
[41:30] - Rapid-Fire Modeling Questions
[47:35] - Final Advice for Financial Modelers

In this episode of The ModSquad, Paul Barnhurst, Giles Male, and Ian Schnoor are joined by Excel and Financial Modeling World Champions Michael Jarman and Diarmuid Early to discuss a unique “man versus machine” financial modeling challenge.
The group breaks down their experience testing AI against expert modelers using real financial modeling and Excel competition cases. They explore where AI performs well, where human judgment still matters, and what the future of financial modeling may look like as AI tools continue to improve.

Expect to Learn
How AI compares against expert financial modelers in real-world challenges
Where AI adds value and where human judgment remains essential
Why reviewing and validating AI-generated models is becoming more important
How AI tools are changing the future role of financial modelers
Why strong modeling fundamentals still matter in an AI-driven world

Here are a few quotes from the episode:
“AI can build something quick, but if you want it to be right, often the majority of the time is in checking it.” - Michael Jarman
“The most interesting question is how do you get from something that works to something you actually feel confident in.” - Diarmuid Early

AI is changing the way financial models are built, reviewed, and improved. While AI can increase speed and efficiency, the best results still come from professionals who understand modeling principles, question outputs, and apply human judgement. The future belongs to modelers who can combine technology with expertise.

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

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

Follow Michael Jarman:
LinkedIn - https://www.linkedin.com/in/michael-jarman-excel/

Follow Diarmuid Early:
LinkedIn - https://www.linkedin.com/in/diarmuidearly/

In today’s episode:
[00:00] – Trailer
[03:59] – Setting Up the Competition
[09:50] – AI Competition Commentary
[13:02] – Shortcut vs Human Results
[16:17] – AI Review Agents
[20:11] – Trusting AI Models
[29:41] – Future of AI Agents
[33:13] – Human Oversight in AI
[41:27] – Real-World Modeling Challenges
[45:54] – Beyond AI Prompting
[47:50] – Future of Financial Modeling
[53:20] – Closing Thoughts

In this episode of Financial Modelers Corner, host Paul Barnhurst welcomes Dr. Eric Kelley, Finance Professor | Microsoft MVP (Excel), and one of the leading educators in financial modeling. Eric shares how his passion for teaching, mathematics, and financial markets led him into academia, and why developing scalable financial models starts with understanding the business before opening Excel.
Dr. Eric Kelley is a Professor of Finance at the University of Tennessee's Haslam College of Business, a Microsoft Excel MVP, and Faculty Fellow with the Microsoft Excel Collegiate Challenge (MECC). He coaches the University of Tennessee's Excel eSports team, which won the 2024 MECC World Championship, and is passionate about using financial modeling and Excel eSports to prepare students for finance careers.

Expect to Learn:
Why communication matters as much as modeling skills.
Building scalable financial models that last.
Common financial modeling mistakes to avoid.
How Excel eSports sharpens problem-solving.
Why competition improves modeling skills.

Here are a few relevant quotes from the episode:
"Great financial modelers need strong oral communication skills because they must explain the story behind the model, not just build it." - Dr. Eric Kelley
"You're not trying to solve a single problem, you're trying to build a system that can take flexible inputs and generate useful outputs." - Dr. Eric Kelley

Eric Kelley shares why financial modelers need more than technical skills, highlighting the importance of communication, problem-solving, and building scalable models. He also discusses how Excel eSports and hands-on learning are helping students develop real-world modeling skills for future finance careers.

Follow Eric:
LinkedIn: https://www.linkedin.com/in/ekkell/\
University of Tennessee: https://haslam.utk.edu/

Follow Financial Modeler's Corner:
LinkedIn: 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 get 15% off using the code “Podcast” at https://bit.ly/497oAqW
In Today's Episode:
[00:00] - Introduction & Dr. Eric Kelley
[02:10] - Eric’s Finance Journey
[03:17] - The Top Modeling Skill
[04:40] - Understanding Your Model
[05:33] - Common Modeling Mistakes
[08:03] - Excel eSports Explained
[10:31] - Performing Under Pressure
[11:51] - Coaching Excel Champions
[14:22] - Excel eSports in Modeling
[17:13] - Teaching with FMI Cases
[18:57] - The Future of Financial Modeling