Financial Modeler's Corner

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/

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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] - 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

In this episode of Financial Modeler's Corner, host Paul Barnhurst is joined by Ian Schnoor, Executive Director of the Financial Modeling Institute. They discuss the future of financial modeling in the age of AI, with a focus on how modelers are using AI today, where human judgment still matters, and what governance, ethics, and skill development look like going forward.

Expect to Learn:
Why communication skills are critical for financial modelers
How to build models as flexible systems instead of one-time solutions
How Excel Esports helps students develop real-world modeling skills
How competitions can improve financial modeling education

Here are a few quotes from the episode:
"86% of the council members are using AI for modeling tasks" – Ian Schnoor
"The shift, there will be a shift, of course, from construction to judgement" – Ian Schnoor

Ian Schnoor shares why AI should enhance, not replace, human expertise in financial modeling, emphasizing judgment, governance, and strong foundational skills. He also offers practical career advice for aspiring modelers and highlights why mastering the fundamentals remains essential in an AI-driven future.

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

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] –Trailer
[03:25] – Ian’s Modeling Journey
[06:20] – Building Modeling Skills
[09:59] – Global Leadership Council Report
[14:40] – AI Use in Financial Modeling
[21:31] – Human Judgment in Modeling
[26:09] – Trust and AI Governance
[30:11] – Ethics and the Future of Modeling
[44:14] – Final Thoughts on Modeling Careers

In this episode of Financial Modeler’s Corner, Paul Barnhurst sits down with Dr. Eric Kelley, finance professor, Microsoft Excel MVP, and financial modeling educator, to discuss how financial modeling education is evolving through Excel Esports and hands-on learning. Eric shares how he uses competitions, real-world cases, and structured modeling techniques to help students build stronger financial modeling skills, think in systems, and create models that support better decision-making.

Dr. Eric Kelley is a finance professor at the University of Tennessee’s Haslam College of Business, where he teaches finance at the undergraduate, MBA, and PhD levels. He is a Microsoft Excel MVP and faculty fellow with the Microsoft Excel Collegiate Challenge. Eric focuses on developing integrated financial modeling education, helping students build scalable models through innovative techniques and competitive Excel-based learning.

Expect to Learn:
Why communication skills are critical for financial modelers
How to build models as flexible systems instead of one-time solutions
How Excel Esports helps students develop real-world modeling skills
How competitions can improve financial modeling education

Here are a few quotes from the episode:
"At the end of the day, we've got to be able to communicate. We've got to be able to tell stories." - Eric Kelley
"You're not trying to find a loan payment. You're trying to build a system that is going to take in a flexible set of inputs and generate a loan payment as an output." - Eric Kelley

Eric Kelley shares how financial modeling education can move beyond traditional instruction by combining technical skills, communication, and competitive problem-solving. Through Excel Esports and structured case-based learning, he helps students understand that strong models are not just about getting the right answer, but about building systems that can adapt, scale, and support decisions.

Follow Eric:
LinkedIn: https://www.linkedin.com/in/ekkell/
Youtube: https://www.youtube.com/@erickelley5900

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] – Trailer
[04:33] – The Importance of Communication Skills
[09:12] – Discovering Excel Esports
[11:35] – Competing Under Pressure
[13:01] – Coaching Future Financial Modelers
[16:36] – Bringing Financial Modeling Into the Classroom
[23:51] – Building Excel Esports Cases
[32:00] – Students’ Biggest Modeling Breakthroughs
[36:23] – Advice for Aspiring Modelers
[38:10] – Excel Rapid Fire Questions
[43:33] – Final Advice on Learning Financial Modeling

In this episode of The Mod Squad, Paul Barnhurst, Ian Schnoor, and Giles Male put today's leading AI tools to the test in a live financial modeling "bake-off." Using the same modeling case and prompts, they compare ChatGPT, Claude, and Copilot to see how well each tool builds a financial model. The discussion highlights the progress AI has made, where it still falls short, and why financial modeling expertise remains essential.
Expect to Learn:
How ChatGPT, Claude, and Copilot perform on the same financial modeling task
The strengths and weaknesses of AI-generated financial models
Why AI-generated models still require careful review and testing
How custom instructions and skills can improve AI outputs
Why financial modeling knowledge is still critical in an AI-driven world

Here are a few quotes from the episode:
"People are trying to do their jobs and keep up with AI at the same time. It's exhausting." – Ian Schnoor
"AI is a magnifier, not a replacement for financial modeling skills." – Paul Barnhurst

AI is powerful, but it is not a shortcut to quality work. It still needs guidance, structure, and strong fundamentals. The people who benefit most are those who understand both the tools and the work behind them. For now, the best approach is simple: test it, guide it, and never trust it blindly.

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

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

In today’s episode:
[00:00] – Trailer
[03:30] – AI Fatigue & Keeping Up
[05:48] – The Modeling Challenge
[08:41] – ChatGPT Results
[17:57] – Claude Results
[27:33] – Copilot Results
[30:36] – Human Review Still Matters
[33:18] – How AI Has Improved
[36:10] – Better Results with Custom Skills
[37:08] – Final Verdict & Key Takeaways