Three MNCPA members recognized as CFOs of the Year
Corey Butler, MNCPA communications manager | December 2020/January 2021 Footnote
Editor's note: Updated November 30, 2020
Autumn is Minnesota is always an enjoyable time. The leaves change color, your favorite gourds are in vogue and, without fail, MNCPA members are named to the annual CFOs of the Year list put out by the Minneapolis-St. Paul Business Journal.
This year, the MNCPA is proud to share that three members were honored. Honorees include Jill Ross, the CFO of WellBeats, Inc. and Joseph Coughlin, executive vice president and CFO of Ergotron, Inc. Tom Boehme, the CFO of Berger Allied Moving & Storage, was recognized as a Career Achievement recipient. Boehme is also a former MNCPA board chair.
We recently caught up with all three to reflect on the recognition and their careers.
Jill Ross, CPA, Wellbeats, Inc.
12 years as a CPA
What was your initial response to finding out you were selected as an honoree?
I was honored and humbled. I couldn't believe it!
After you’ve had some time to reflect on the award, what are your thoughts now?
I still feel the same: honored and humbled. It is such a great honor to receive this recognition with all the other named CFOs of the Year. I am thankful to be a part of a leadership team that supports and lifts each other up. We challenge each other daily, and we push each other to be better leaders and versions of ourselves. I have the privilege of leading a team of talented individuals. This award is a recognition for all of those people around me. I feel like we did this together and I am humbled to be the one to accept the award for our team.
Tell us a little bit about your role. What do you best like about it?
I am challenged every single day! I love being able to provide information and clarity to the company on complex situations. It's problem-solving, critical thinking and being able to step back and see the entire picture. I get the opportunity to see into the details and complexities of every department within my organization — and provide a different perspective. It is one of the most rewarding aspects of my career.
What is some of the best advice you’ve received in your career?
I always tell my team, “We succeed together, and we fail together.” We celebrate the wins together and we learn from the fails together.
What did you want to do for a living when you were a kid? What about that choice resonated with you?
I thought I would be either an engineer or a math teacher. I loved puzzles, figuring things out and seeing how things were built. I was then introduced to advanced math and loved that there was a "right" answer. It wasn't necessarily gray; it was black or white.
What ultimately led you to pursue a CPA instead of that?
In college, I was taking the classes to put me on an engineering path, but also exploring other areas — journalism and business. The more I got into the business world, the more intrigued I was. I landed on an accounting major with emphasis in accounting information systems (AIS) and a minor in business computer information systems (BCIS). I loved writing code and seeing how things came together, so it felt like the right choice for me. When I graduated, I realized I wanted my CPA as well. At that time, the only way to get that was to get into public accounting. Here I am — years later — with my CPA and working in private industry! I have been able to use my skills for finance as well as AIS emphasis so many times over — both in public (taking our firm from paper to paperless) and now in my everyday work!
What’s the best way for a CFO at any stage in their career to establish credibility?
Build trust with your team, know what you are delivering and be ready to back it up with facts.
What’s the secret to being a successful CFO?
I will start by saying: I am surrounded by an incredible leadership team. We consistently challenge each other, push each other for innovation and work together as a team. I have also built a support team that consistently strives to think outside the box, look for creative solutions in processes and is hungry for growth. I am only as strong as those around me, and we work hard to build a team of talented people. I could not do my job without everyone on my team!
Joseph Coughlin, CPA, Ergotron, Inc.
28 years as a CPA
What was your initial response to finding out you were selected as an honoree?
Because I was unaware I was nominated, I was surprised. I was also grateful that someone took the time to nominate me.
After you’ve had some time to reflect on the award, what are your thoughts now?
I’m still grateful. I am also humbled as I think about the many strong and deserving CFOs in this market. It’s truly a privilege to be recognized among them.
Tell us a little bit about your role. What do you best like about it?
My role is a combination of typical CFO responsibilities, and most of my time is spent on business transformation and strategy. I most enjoy working with leaders inside and outside of the organization to ensure we focus on the opportunities that create the greatest value and that we execute for sustained, year-over-year profit growth.
What is some of the best advice you’ve received in your career?
To be a lifelong learner and to focus my energy on helping others. It took a lot of effort early in my career to carve out extra time to learn from either reading or participating in an educational activity. I would have rather spent my spare time fishing back then, but I soon realized how the
benefits of lifelong learning impacted my career and empowered me to help organizations achieve greater success.
What did you want to do for a living when you were a kid? What about that choice resonated with you?
Growing up, I worked as a farmhand, managed a fast-food restaurant, owned a painting company, worked as IT support, coached youth sports and more. I always kept my options open and I didn’t set my mind on a career choice until my late 20s. In college, I had a strong interest in business and was guided to accounting and computer science as two areas of focus that would be beneficial no matter where I landed — this is still good advice today. After spending my early career in public accounting, I realized that being part of the leadership team running a business was what I wanted to do. So, when the opportunity arose to join a client as their CFO, I jumped at the chance. Now, after almost 25 years as a CFO, it continues to be a great career choice for me.
What ultimately led you to pursue a CPA instead of that?
I pursued a career in public accounting as it is both a rewarding and challenging career and an incredible training ground that prepares one for many future business opportunities.
What’s the best way for a CFO at any stage in their career to establish credibility?
Ultimately, a CFO’s ability to earn credibility throughout their career is directly tied to their ongoing ability to demonstrate that the vision they have for an organization, coupled with successful execution, maximizes stakeholder value. Well beyond the numbers, this means taking the time to learn the entire business and staying informed of internal and external changes so we can evolve and ensure we create sustainable stakeholder value.
What’s the secret to being a successful CFO?
While I doubt this is a secret or comes as a surprise to anyone, a CFO’s success is dependent on their ability to be engaged across the organization as a critical thinker and sound decision-maker who continually earns the trust of all stakeholders.
Anything else you’d like to add?
I am thankful for the resource the MNCPA has been for me over the years, especially in providing useful education and a strong network of peers.
Tom Boehme, CPA, Berger Allied Moving & Storage
39 years as a CPA
What was your initial response to finding out you were selected as an honoree?
It was funny. I was nominated by my boss, Bill, and my controller, Michael, who is also an MNCPA member. I knew they submitted the nomination. But one day they sent out a meeting notice concerning a personnel issue. We get together, and there’s a call from outside the company. I figured it was a fraud thing, so I picked it up and learned the news. I was pretty surprised; obviously, I was very honored.
After you’ve had some time to reflect on the award, what are your thoughts now?
I’m very blessed to have the opportunities I have, and I am thankful to have the ability to do all the things I've done. I've worked hard at it. It's great to receive the recognition. Even my kids were impressed! When I think of all the people in Minnesota and the metro area who are potential winners, it's pretty awesome.
Tell us a little bit about your role. What do you best like about it?
I wear a lot of different hats. Accounting and finance reports to me, and then there’s HR, credits and collections. I also serve on the board of directors and on the executive team. I really enjoy working with the finance group and the variety of my job. I’m fortunate to work at a great place for the past 31 years. There are a lot of different moving parts and strategies, which makes it challenging and enjoyable.
What is some of the best advice you’ve received in your career?
One key thing that's always stuck with me when a consultant came in to work on KPI (key performance indicators) and improvements: "Look for the merit in what another person is saying." Everyone has something to contribute. Listen and you can get something out of it. I've always tried to do that. It's actually worked really well for me.
What did you want to do for a living when you were a kid? What about that choice resonated with you?
When I was in grade school, I had a paper route. I literally ran my own business. I had to deliver papers twice a day, which was the old Saint Paul Dispatch. You inherited a route, but you had to get your own customers. You did a lot on your own. You had to collect the money from the people and the net is what your profit was. You kept your own records and organized everything. I really enjoyed that. So, when it came to college, I remembered that, so finance interested me. I knew I wanted to be in business.
What ultimately led you to pursue a CPA instead of that?
With a CPA firm, you have a variety of different clients to work with. I had a lot of different audit clients, review clients, initial public offerings, corporate tax work, but I didn't do any personal income tax. I always wanted to get into industry.
What’s the best way for a CFO at any stage in their career to establish credibility?
It boils down to some basics: integrity, reliability and accuracy. It's also as much about confidence. You have business owners and others relying on your opinion. You want to be thoughtful and give them your best, but if you have bad news, give it to them as soon as you can when you know it's accurate.
What’s the secret to being a successful CFO?
You need to be able to work with the team and listen to others and evaluate and collaborate.
