In this article, we feature four Miami accountancy grads and their unique journeys towards fulfilling careers. Amy Egelston (’82) is a financial consultant specializing in SEC reporting for large companies. Shawn Manns-Collins (’98) is the SVP Consumer Bank CFO for Fifth Third Bank. Kristin Farrell (‘94) is CFO of Xtek, an industrial manufacturing company with over 110 years of history. Paige Wolfenden (’10) is a Director in the Department of Public Practice at KPMG in Cincinnati.
A Diverse Career
Amy Egelston has enjoyed what she describes as a very diverse career path. “As a CPA and Certified Fraud Examiner, I worked in public accounting with very large/medium-sized CPA firms, as well as with the SEC as an auditor and as a forensic accountant, respectively; in industry as a bank internal auditor, SEC financial reporting manager, controller, and as an SEC financial/technical consultant to large and medium-sized businesses,” she shared.
“I discovered that you don’t really have to ‘climb the corporate ladder’ in order to have an interesting, challenging, and financially rewarding career as a female CPA,” Ms. Egelston said, adding, “I liked variety and learning new skill sets, so I chose the roles I did.” Building on her diverse experiences, she has found her niche in financial consulting, specifically, working with large companies to design their systems and approaches to meet their SEC and SOX compliance reporting requirements.
Egelston emphasized the flexibility that the accounting field has offered throughout each life stage that she was in. “During my early years, I considered the opportunity for growth, challenge and advancement mostly, along with compensation. Once I began to have a family, I was looking more for flexibility.” She found the public accounting environment to be the most flexible, and offering the most interesting work. The busy seasons coincided with when her kids were at school, and the summers were often quiet for accountants, especially those in mid-market firms, she shared.
Along the way, firm partners at Deloitte, AMEX/RSM McGladrey, and Plante Moran were very supportive in creating a schedule that allowed for work/life balance. “It was important to figure out exactly what I needed to make my personal life work (i.e., weekly hours, location of clients, seasonally reduced hours, etc.) and find employers where I could add value in terms of my skill set and would work with me in terms of my personal needs to create a win-win situation,” Ms. Egelston shared.
Her message for young accountants: “I would say this is an excellent time to get into the field of accounting. Accounting offers employment throughout your entire career, you can try so many different roles with an accounting degree, and even more with the CPA. Your opportunities are limitless, depending on your flexibility and motivation. But I do encourage the younger generation to “pay your dues” first, have a good work ethic, and get some good basic experience, so you can add value to the company(ies) you really want to work with.”
Change and Innovation
Shawn Manns-Collins has worked with Fifth Third Bank for over 20 years, but her career path has always been shaped by change and innovation. With a background in finance and accounting, along with an MBA, she started as a Systems Consultant but after two years transitioned into a financial analyst role. “That change officially “kicked off” my finance career in Corporate America, and I never really looked back,” she shared.
Pursuing an MBA was a somewhat “unplanned” decision for Manns-Collins, but she was motivated by the idea that furthering her education would make her better at what she does. “I made the determination I was not reaching my full potential; something bigger was in my future,” she said.
This philosophy has guided her throughout her career, which led her to seek challenging positions where she doesn’t get “too comfortable”—because comfort can lead to a false sense of security, according to Manns-Collins. She cited the example of Chase, the largest bank in the U.S. “In the banking industry, there is JP Morgan & Chase and everyone else. The company will keep innovating no matter how far ahead they are from the rest. It is a by-product of consistently creating value for existing and potential customers.”
This drive to innovate is central in her role as Consumer CFO. “These are very uncertain times. Technology is changing the game in so many ways. I am not looking forward to the uncertainty, but I am looking forward to the opportunity to be innovative and bring solutions to the problems every-day people are facing. As the Consumer CFO, I get the opportunity to learn about the various products we are providing to help consumers achieve affordable home ownership and help people protect and build up their finances, as well as new branch builds that allow us to service our customers differently. I get to share my ideas based on what I see and know about our community with our decision-makers.”
Having chosen a challenging path, Manns-Collins has enjoyed strong support from family and allies along the way. “My parents had the entrepreneurial spirit and were very supportive of me through my athletic (high school and college) career and until today. My mom is very loving and compassionate. She has never met a child that she did not want to invite into her home and mother. My dad will help a stranger with anything they need. That has kept me humble, because I appreciate what I have no matter how small it may seem to others.”
“You need allies,” she added. “I had an ally at my first job as an accountant for a local company, and he recommended that I go back to school. When I “kicked off” my career in corporate finance, I had an ally and mentor in my manager, who is now the company’s CFO.” Lastly, Manns-Collins mentioned her husband. “My achievements are his achievements. He is a tremendous father to our four boys, and I could not accomplish even half of what I have accomplished without his support.”
Always looking forward, Manns-Collins acknowledges her desire to encourage young leaders. “Is it time for me to move on, so others can be elevated? I love what I do. I will reach a point in my career where my main job is to prepare the next group of leaders. I want to be able to pass the baton and ensure that the good I have created carries on.”
The Value of Connections
Kristin Farrell started in tax accounting at Arthur Andersen in Cincinnati. She was with the firm on maternity leave when it dissolved in 2002, and at this time, decided to take a few years away from professional life as she raised her young children. Her re-entry to the professional field started with a former client, Enerfab, Inc., where she quickly became CFO of one of its subsidiaries.
“Accountancy gives a professional a deep background in many areas of business,” Ms. Farrell shared. “A good accountant can learn to understand what drives profitability of a business and help to make that business better. Once you develop a foundation, there are so many directions you can take your career. I know people who became CEOs, CFOs, business owners, lawyers, non-profit leaders, and of course people who stay in public accounting and make a great career out of that.”
Maintaining relationships was key in helping Farrell achieve what she wanted out of her career. “I spent eight years at Arthur Andersen, and I have maintained relationships with not only people I was in the trenches with, but mentors that helped me progress when I was there. Public accounting is similar in ways to a matrix organization, and I worked for three partners in my group. All were gifted in different, but important ways – either by pure genius, creativity, client service, or leadership. I worked on a lot of different types of projects for each of those partners, and the experience was invaluable. I continued to lean on one of them, and I get advice from him to this day.”
The increasing number of women in leadership roles has also encouraged Farrell in her current role as CFO of Xtek. “Thirty years ago when I started out, there were not many women in leadership. There is a much different focus on work-life balance and retention than there used to be, and that is a good thing. As a leader, I want to keep everyone on my team engaged but not overworked. That certainly wasn’t a priority 30 years ago,” she said.
The field of accounting is constantly changing, and Farrell says young accountants need to show up—in person. “There are many divergent opinions on this, but personally, I think the shift to remote working is going to have long-lasting ill effects on the profession. Whatever your field, there is a lot of value for a young professional in going into the office, getting to know your coworkers, and developing relationships with people you look up to who could mentor you. You often get pulled into a project or a decision just because you are there. I can’t even express how difficult I think it will be for people who work fully remotely to advance, develop a network, and get to the highest levels of an organization. My strongest advice to you is to show up in person as often as your company will let you, raise your hand for extra assignments, and give your job your full attention during work hours. My advice would be to not take a job that is fully remote.”
Engaging with Audit Practice and Sustainability
Paige Wolfenden has always enjoyed math and logic. “While I initially considered architecture, the stability of a business career felt more secure, especially during the 2008 recession when I attended Miami University,” she said. Her instincts proved fruitful, and she has built a meaningful career after graduation at KPMG. “Interestingly, I initially declined a summer internship offer from KPMG, opting for a regional firm instead. The prestige of Big Four firms initially intimidated me. Despite this, I maintained connections with KPMG (a valuable lesson in not burning bridges) and eventually accepted a full-time role.”
Her journey at KPMG revealed how auditing goes beyond mere math skills. “Success in this field hinges on critical thinking, a strong work ethic, effective communication, and adept project management. These skills have been the cornerstone of my achievements,” according to Ms. Wolfenden. After over a decade of client service experience within the audit practice, she next spent two years developing centers of excellence aimed at audit quality and efficiency through automation, standardization, and centralization. “During this period, I also had the privilege to support the KPMG partner on the AICPA’s Auditing Standards Board, which develops the AICPA’s auditing, attestation, and quality control standards.”
Since becoming a Director in the Department of Public Practice of KPMG’s national office, Wolfenden has contributed to various specialized areas, including development and deployment of the firm’s global assurance methodology for ESG/sustainability engagements. “While I haven’t always been passionate about sustainability, my professional journey in this field has transformed me profoundly. I’ve come to realize the vital importance of businesses embracing their responsibility toward the planet and future generations. Profit-centric approaches have prevailed for decades, but it’s evident that a sustainable business model is not only ethical but also financially rewarding,” she said.
Sustainability can start at the individual level as well, Wolfenden stressed. “While regulations have a ways to go to enforce consistent reporting and transparency in this space, have you considered consulting sustainability reports when choosing where to shop? Additionally, think about donating or reselling clothes. Or opting for ground coffee and reusable capsules instead of disposable ones. It can be overwhelming to start, so here’s my challenge – think about your daily consumption and which companies you support with your spending, then make one intentional change each week to live more sustainably.”
Understanding an organization’s value chain is now critical for stakeholders, with rapid regulatory changes promoting transparency in environmental aspects like emissions and waste, as well as social factors such as diversity and safe labor practices, according to Wolfenden. Her advice: “Reflect on your personal sustainability choices, and familiarize yourself with the evolving regulatory landscape. This understanding not only shapes individual lifestyles but also informs how firms can effectively serve clients on a broader scale.”
Despite her busy career, Wolfenden strives to achieve balance and “cherish moments” with her family. “Balancing my demanding career with my husband’s, and raising our three children, including twin 5-year-old boys and a 2-year-old girl, requires flexibility. I am grateful for the opportunities provided by KPMG, which not only facilitate my career growth but also align with my personal life, allowing me to navigate this stage of my career and family life effectively.”