Data is the fuel that powers AI

I'm a Data Developer
Sigursteinn Ingvarsson

Sigursteinn Ingvarsson CEO Völusteinn ehf.

ABOUT ME

Experienced Manager with a proven track record in the finance, seafood and car rental sectors. Strong knowledge in information and accounting technology.  I am passionate about helping people transform their data into valuable insights to increase profit and optimize workflows and to use data to drive smarter decisions and shape the future.

I have always been fascinated by data

From a young age, I was fascinated by data. Growing up on a farm, I found myself constantly analyzing information about our cows and sheep, such as the weight of the lambs and the milk production of the cows. When it came time to choose a career path, it was evident that working with numbers and data was my true calling.

As you can see from my education and work experiences, my focus has always been on figures and data. When data is well-considered and accurately presented, it never lies. There are few things more satisfying than being pleasantly surprised by what the data reveals.

 

Now and in the future, data will become increasingly important in the operation of businesses.  Data is the foundation for the implementation of AI. Without well-organized data, there will be no AI.

In my opinion, all major decisions will increasingly rely on data rather than intuition. AI will help us leverage more data to analyze, make quicker decisions, and forecast the future. Personally, I find this shift exciting because it means we can make more informed choices and anticipate challenges with greater accuracy, ultimately driving our success forward.

Data is the fuel that powers AI

EDUCATION AND WORK EXPERIENCE

I have been fortunate enough to never have to apply for a job; opportunities have always come to me. Throughout my career, I have consistently worked closely with top executives and have been actively involved in decision-making processes.

1991-1995

During the business and economics program in VMA, I acquired a solid and comprehensive understanding of business and economic disciplines. Beyond the core subjects, there was a strong focus on areas like accounting, math, economics and management. There were also many group projects that required cooperation and leadership skills. This program effectively prepared me for advanced studies at university in business, economics, and related fields.

High School. Business and economics program
1995-1997

The Bifröst learning module is hands-on, allowing students to practice their skills through project-based learning. This is particularly evident in the yearly term projects at the undergraduate level, where students collaborate in groups on real-time projects in entrepreneurship and data science. Serving as the president of the school society and as a member of the school’s executive committee allowed me to gain experience that was invaluable for my future management roles.

University. Business Program
1997-2002

KPMG Iceland was founded in 1975 and is one of the largest auditing and consulting firms in Iceland. The company provides advice and services in the fields of auditing, tax returns, and consulting, with the aim of being the trusted partner that their clients can turn to for challenges in their operations.

Turnover 2024: €45 million
Employees 2024: 225

Senior Associate. Audit and Accounting

After completing university, I began my professional career at KPMG. This period was an invaluable learning experience, during which I attended various courses and honed my skills in financial analysis, auditing, and compliance. I contributed to the financial reporting and auditing of numerous companies, including Samherji hf., where I later transitioned. Through this role, I developed expertise in financial statement preparation, risk assessment, and the application of international financial reporting standards (IFRS). Additionally, I enhanced my proficiency in using advanced accounting software and tools, further strengthening my analytical and problem-solving abilities.

A key part of my role at KPMG was collaborating with diverse teams on complex projects. I coordinated with colleagues from various departments to ensure accurate and timely financial reporting. This teamwork helped me develop strong communication and interpersonal skills.

2002-2016

Founded in 1983, Samherji is a leading seafood company in Europe. It boasts a robust fishing fleet, high-tech land-based processing facilities, and extensive aquaculture operations. The company’s products are marketed under the ICE FRESH SEAFOOD brand, with its sales subsidiary, Ice Fresh Seafood.

Turnover 2016: €635 million
Employees 2016: 1.554

Manager of Finance and IT CFO/CIO

During my tenure at Samherji, I was engaged in financial reporting and the implementation of the SAP information system. Subsequently, I assumed the position of Chief Financial Officer, while continuing to oversee the company’s information systems. In this role, I was responsible for the preparation and analysis of financial statements, budgeting, and financial planning. I also led the finance team, ensuring compliance with international financial regulations and standards. At that time, Samherji was an international conglomerate with operations in numerous countries, which necessitated extensive travel and communication with foreign banking institutions, auditing firms, and other consultants.

My responsibilities included managing relationships with these external partners, negotiating financial agreements, and providing strategic financial insights to support the company’s global operations.

2017-2025

Since 1966, Höldur has been a reliable and experienced travel partner. With over 8,000 vehicles and rental locations across Iceland, it offers the widest selection of rental vehicles in Iceland. As the leading car rental provider, Holdur also serves as the local franchisee for Europcar and Touringcars.

Turnover 2024: €106 million
Employees 2024: 300

Manager of Finance and Information CIO

Following a highly demanding period at Samherji, I transitioned to a role at Holdur. I discovered that my true passion lay in information systems and data analysis rather than financial management. At Holdur, I demonstrated strong leadership by implementing and integrating new information systems and consolidating data from various sources to present it clearly and concisely using tools like Power BI and Excel. Serving on the company’s board and executive committee, I significantly influenced the company’s strategy, particularly in the realm of information technology. As the head of the finance and information department, I led a team responsible for accounting, financial statement preparation, and all reporting activities.

My leadership was pivotal in driving innovation, ensuring compliance, and fostering a collaborative environment that supported the company’s growth and success.

REFERENCES

I have had the privilege of working with individuals and supervisors who excel in their fields and generously share their knowledge and experience. From them, I have learned that achieving excellent results requires both hard work and a passion for what you do.


PORTFOLIO

I have worked extensively with data and created numerous reports that have helped users in their work and decision-making.