Introduction into Transfer pricing, with Ramona Bumbea, Senior Tax Consultant

Hello, Ramona, thank you for joining our discussion today! Let’s get to know you better, what is your current role within Forvis Mazars in Romania and how did your journey with us look so far?   

Ramona: Hello, Alexandra! Thank you for the invitation to be part of today’s discussion. I am excited to be here and to share my experience at Forvis Mazars so far. To briefly introduce myself, my name is Ramona Bumbea, and I am a Senior Transfer Pricing Consultant within the Tax department. 

My journey with Forvis Mazars began three years ago. These have been three years full of opportunities, learning experiences, a few brunches at the office and activities that made my time enjoyable alongside my colleagues in the Transfer Pricing team. One important aspect to highlight is that my personal and professional development has never stopped. 

I have consistently had the chance to step outside my comfort zone and broaden my experience. From the very beginning, I have experienced a great deal of understanding and support from my colleagues. For example, about seven months into my time at Forvis Mazars, I joined the Work and Travel program in the United States. I told my colleagues how much I wanted this experience, and they were very understanding and supportive. 

After my adventure in the United States, I decided to return to the company, and since then I have been fully engaged and committed. 

As a consultant within our Transfer pricing team, how does a day in your life look like?   

Ramona: That is a great question. I must admit, I am a morning person and I feel the most productive in the early hours, following a well-structured routine. 

I prefer to arrive a bit early at the office and listen to music for about ten minutes before my colleagues arrive, as a small personal ritual. Since I rarely drink coffee, one of my first decisions at work is to choose which tea I am going to enjoy that day. After that, I go through my emails and organise my to-do list, prioritising the most important tasks.  

My day often includes ad-hoc meetings where I provide support to colleagues or clients, as well as scheduled meetings that I prepare for in advance. Lunch is usually shared with colleagues, either at the office or going out together, and these moments are often filled with laughter. 

After work, I like to stay active, often going for a run, or pursuing other “side quests”, such as meeting friends, playing padel or squash, or enjoying a movie night. 

To anyone who is not familiar with transfer pricing, can you explain, maybe in simpler terms, the main characteristics of the field?    

Ramona: Sure! Transfer pricing is basically about how companies that are part of the same group set prices when they do business with each other (e.g. selling products, providing services, or lending money). The main idea is that these prices should be similar to what independent companies would agree to in the market. It is important because it affects where profits are reported and how much tax the company pays.  

Think of it like a family with two lemonade stands. If one sibling runs out of lemonade and wants to buy lemons from the other sibling’s stand, they need to agree on a fair price, just like if they were buying from another kid’s stand. This way, each stand knows how much money it earns, and everyone is treated fairly. 

In our Transfer Pricing team, we help clients ensure they comply with transfer pricing rules, provide support with other related obligations, assist in various cases, and offer guidance to help them meet all legal and tax requirements. In short, our role is to help clients operate in a fair, transparent and fully compliant manner. 

How did you decide that this was the right role for you, given the multitude of branches our Tax department currently has?   

Ramona: I would like to say that transfer pricing chose me. After a previous accounting role, I wanted a change in my career and decided to try something new, even though I did not know much about transfer pricing at the time.  During the interview, the role and the career path were clearly explained, and the positive interaction throughout the recruitment process convinced me to embrace this new challenge. 

Did your studies prepare you for your current activity?   

Ramona: I graduated from the Accounting and Management Information Systems Faculty, which equipped me with strong economic foundation and shaped my critical thinking. However, my studies didn’t directly cover transfer pricing and during my master’s I shifted my focus slightly toward project management to gain a better understanding of team organisation and workflows. 

The most important thing I gained from my studies was a strong foundation and the context to work with amazing people on different projects. Additionally, being part of a student organisation, in my case ASCIG, provided personal development opportunities and was the place where I first heard about Forvis Mazars. It also introduced me to a motto that continues to guide me “Do it with passion or not at all.” 

What are the learning and development opportunities within your team?  

Ramona: There are many opportunities within the team, but you need to be willing to step out of your comfort zone.  

To give a concrete example, last year I attended a Transfer Pricing training course in Budapest, where I had the chance to meet colleagues from different countries and further deepen my expertise. I’ve also taken the initiative to learn from other tax areas by discussing my interests with my manager and getting involved in projects beyond transfer pricing. Through them, I could collaborate with colleagues from different departments and broaden my experience.  

The key is to know your goals and communicate your interests, because opportunities are available at every step, you just need to make them known. 

What skills and abilities would you advise a person at the beginning of their career to cultivate, if they’re taking into consideration joining your field?   

Ramona: In my opinion, having a basic understanding of economics is sufficient at the beginning of one’s career, but the most important qualities are curiosity and the desire to understand the “why” behind every action. In transfer pricing, asking questions and seeking to understand the reasoning behind processes helps you learn quickly and effectively. 

In addition, attention to detail and strong critical thinking skills are essential, especially in today’s fast-changing, technology-driven environment. Being able to analyse information carefully, identify inconsistencies and think logically will set you apart and enable you to contribute meaningfully to both your team and your clients from the very beginning. 

Lastly, what piece of wisdom would you like to share with someone just starting their professional journey?   

Ramona: At the beginning of your career, it’s important to set priorities and ask yourself what your goal is, how quickly do you want to achieve it and how does this fit with your personal life. I strongly believe that personal and professional life need to be aligned and by balancing the two you can truly achieve satisfaction and fulfilment. 

A lesson I have learned from the running club I attend is the power of consistency, and that showing up for yourself every day is something we should all prioritise. 

That is all from my side; it was a pleasure to share a part of my experience. If I have sparked your curiosity, there are many opportunities worth pursuing at Forvis Mazars, and who knows, we might even more share stories in the future. 

Thank you very much, Alexandra, for the discussion. I truly enjoyed it.