Final Entry: Kristine Caratan
“My personal legacy: Watching young people gain a true passion and desire to be involved in a profession that has served me well.”
At the 2008 Women’s Leadership Forum CalCPA presented its inaugural Woman to Watch awards to these outstanding experienced and emerging leaders: Kristine Caratan, Moss Adams LLP; Marie Ebersbacher, CBIZ & Mayer Hoffman McCann P.C.; Geralyne Mahoney, Burr Pilger & Mayer; Natalie Quan, Berger/Lewis Accountancy Corp.; and Kristine Stromeyer, Rothstein Kass. After the event, Caratan shared some of her leadership secrets with California CPA.
What does it take to be a good leader?
Patience, perseverance, persistence and respect. To use an old saying, “respect is earned.” So too is leadership. Without respect, one cannot be a leader. Patience is essential, as no one will do things precisely the way you would. An effective leader needs to be patient and welcome individuality from those they lead. Perseverance and persistence are paramount for woman leaders since many employ a style that is different from the historically male leadership style in our profession.
Did/do you have a mentor?
My first manager was my first mentor. I remember what he said to me in my first few months: “Public accounting is 10 percent technical and 90 percent schmooze, but to get the ability to be 90 percent schmooze you need to be 1,000 percent technical in your early years.” Today, I am fortunate to count many of my partners as mentors. They provide me a great deal of insight on firm matters that I may overlook.
What do you find is essential to being a good mentor?
I am a much better mentor than coach. Mentoring allows for a more free-form relationship and is founded on trust. Coaching, at least at Moss Adams, is much more structured. Being a good listener is essential to mentoring. To ensure that the mentor/mentee relationship is not a dumping ground for complaints, action-oriented solutions are critical. I believe that empowering the individuals I mentor allows them to find opportunity for growth, and therefore take ownership in the best interest of the firm. Mentoring allows me to provide them honest feedback, allowing them to be challenged and supported versus judged.
When you entered the profession, women were a minority. How do you think that shaped your experience?
From the moment I interviewed in fall 1973, it was clear it wasn’t going to be an easy road. I went to a predominately male school and majored in almost an exclusively male major. “Equal employment” was not part of the business culture yet, so when I interviewed, the questions asked of me were overwhelmingly politically incorrect. About 10 months into my career, I was told I was being laid off because the other staff member “eligible” for layoff was paying his ex-wife alimony! I was 22 and somehow I stood up to the managing partner and told him that I would take the firm to court—and I wasn’t laid off! I vowed that sort of prejudice would never be part of how I functioned. I realized early on that creating an environment that allows our women—including working moms—to have balance is essential to the retention and advancement of strong women leaders.
Has your leadership style changed over the years?
Yes. First, I got older, and with age comes wisdom and knowledge. Second, I became a better listener. Third, I became more patient and less overbearing. And finally, I listened to the sage words of my mother: “You can catch more flies with honey than vinegar.”
What has been your most difficult decision as a leader?
In my paid job, the most difficult decision is deciding to counsel someone that accounting is not their calling. This type of action is often taken because the person in question is usually holding someone back or filling a space that could be filled by someone more effective. It becomes a business decision. In my professional activity, the most difficult decision I made was while I was chair of the California Board of Accountancy’s Qualifications Committee. We became aware of some issues with the IRS memorandum of understanding that covered how they would usher their agents through the California licensing process. Due to the severity of the issues, I decided to cease approving IRS agents’ license applications. The hiatus lasted for about six months, but we were able to negotiate a revision to their MOU that was satisfactory to all involved. The decision was not popular with the CBA, but it was a necessary decision given the situation.
How do you keep yourself motivated to better motivate others?
My team motivates me. They are a young, bright, energetic group of professionals that has the majority of their careers ahead of them. And my clients motivate me. Since my client base is exclusively not-for-profit, the work is rewarding. It energizes me to know that what I do as a professional helps my clients further their missions.
What would you like your legacy to be?
My professional legacy: leaving behind a flourishing not-for-profit practice in our San Francisco office, along with developing a strong, competent and dynamic team. I have no doubt that when I leave, the seeds I was able to plant and nurture will yield a strong legacy for the firm. My personal legacy: watching young people gain a true passion and desire to be involved in a profession that has served me well. Late in my career, I found what appears to be my eventual calling: teaching. My involvement in Beta Alpha Psi became not just an item on my résumé, but a passion that has become a part of my fiber.
What’s your favorite quote?
“The buck stops here” by Harry S. Truman. As a partner, or even just as a licensed CPA, the opinion rendered is my ultimate responsibility, and my firm relies upon my ability to make the right decisions. Truman’s quote epitomizes this the best.
