Drawn in by an ad for SAP consultants that read, “Astronauts wanted,” Melanie Kanaka left her comfortable job in accounting at a major conglomerate in Sri Lanka — and almost immediately began questioning the decision.
SAP’s ERP software was new to her and the training was grueling. “I was thinking, ‘Did I make a mistake?’” she recalled during a panel called “Watch Women Leaders” at the American Institute of CPAs’ Engage 2021 conference, happening this week in Las Vegas.
She stuck with it, however, and her SAP experience opened the door to a successful career at the World Bank and, in part, to her current role as deputy president of the Chartered Institute of Management Accountants (where she will soon become only the third female president in CIMA’s history).
That kind of risk is critical for women looking to become leaders and build successful careers in accounting.
“Risks are like Legos — each one sets you up for the next one,” explained panel moderator Kimberly Ellison-Taylor, who then traced the long chain of risks, starting with volunteering to serve as chair of the Maryland Association of CPAs, that led to her recently serving as chair of the AICPA — and to leaving a very successful career at Oracle to set up her own consulting firm in the middle of the pandemic.
“Risk-taking can involve relocating, learning new skills, and trying things you may not be sure will work,” she continued.
The fact that risks come with the possibility of failure shouldn’t deter you from taking them, the panelists agreed.
Sue Coffey, CEO of public accounting at the Association of International Certified Professional Accountants, recalled being offered an important promotion while she was still in her hospital bed after giving birth to her second son, and being uncertain about whether she wanted take on the added responsibility or choose to spend more time with her family.
“I said I’d take a few days to decide, and my husband said, ‘These positions don’t come up that often; why not try it, and if it doesn’t work out, move on.’”
“We took a chance, and it paid off,” echoed Ellison-Taylor. “Step into your greatness — take that chance. Your life will be so much richer. And if you fail, get up and try again.”
Women in accounting should also help create their own risks. While the panelists said that firms need to do more to create flexibility and alternate career paths, they also agreed that women need to promote and help develop the alternatives they want to see in the profession.
In terms of part-time partnerships, for instance, “You have to work with the managing partner and the other partner … and figure out what success looks like,” said Coffey. “The individual who wants to do it has to play a major part in setting it up.”
“Firms are much more open to this,” Ellison-Taylor added. “Work with your managing partner — firms are looking for talent in the daylight with a flashlight, so they’re not going to be willing to let you go, and will be more willing to accommodate you.”
Giving and taking
The panelists highlighted the importance of mentorship to advancing women in the profession, but they homed in particularly on the importance of being able to give and receive constructive criticism as a crucial factor in developing a strong career.
“Being open to feedback and making it easy for people to give you feedback is important,” Coffey said.
Good feedback puts responsibility on both the manager and the employee, according to Kanaka: “We need to align our objectives — the objectives of the team, the reports and the organization. You have to align everyone with the goals. You’ll get more out of it, if the goals are set before the feedback session,” she said. “The recipient needs to have an open mind. As a performance manager and a recipient, you have to have an open mind. Make sure the goals are aligned, make sure the objectives are clear, and make sure the temperament of the two participants are right.”
Be yourself
The panelists also discussed the importance for women and people of color of not apologizing or hiding who they are to avoid stereotypes.
“I have spent most of my career impersonating a white man … you go so long pretending not to be black or female, it becomes hard to describe yourself — you worry, ‘Can I admit that I’m a woman, or Black?’” Ellison-Taylor said. “You have to be you — you have to own it.”
They also warned women against succumbing to “imposter syndrome,” where they secretly feel they’re not up to the positions they’re in, or worrying that people think they’ve only risen through the ranks because of their gender or race.
“You don’t ever want to hear, ‘You only got this job because you’re Black, or a woman’ — not after you’ve worked your rear off,” said Ellison-Taylor.
Having built a stellar resume, including growing a global practice at Oracle from $3 million to $150 million, she was not personally worried about imposter syndrome, and she isn’t afraid to prove her bona fides: “I have never walked somewhere I didn’t deserve. I didn’t pass the ‘Black test’ or the ‘woman test’ — I passed the test,” she said. “In most of the places I’ve been, I’ve had to have more education and experience than most other people had to get there. I would make people read my full two-page bio, because I don’t want to people think they just parachuted me in because I’m a Black woman.”
Coffey is similarly confident, but also aware of the way women’s qualifications are often questioned: “I think I’ve deserved everything I’ve gotten, but I’m sure there were people who thought I didn’t.”
Final lessons
To wrap up the session, Ellison-Taylor asked the panelists to share their best advice for women looking to advance in accounting (much of which applies to men, as well, she noted).
Kanaka focused on self-knowledge: “Find your purpose in life; know where you want to go and what you want to do. Know your passion and pursue it,” she said. “Don’t fear failure; we’ve all faced setbacks, but the comeback will be better than the setback. And finally, give back — give back to your profession and your community.”
Panelist Ramona Cedeno, the CEO and founder of FiBrick, talked about the importance of building strong connections and relationships: “My advice is to build your fan club, your ambassadors, your evangelists — but give back to them, too. Be present, and think about that person in return. Build your tribe.”
Finally, Coffey emphasized the importance of diversity: “It’s really important when you’re leading and you’ve got a big responsibility to have trust in your team and your people, to be collaborative and inclusive — bring in a diversity of thought,” she suggested. “Businesses and organizations are more successful the more diverse they are. Rely on your people and make sure you have the diverse voices around the table to create success.”
