In the Spotlight: Theresa Franchi Cpa '16 (Bs/ms Accounting); Senior Tax Associate, Warner Music Group
Theresa Franchi works every day with major record labels as team member at Warner Music Group (WMG), one of the world's top record label conglomerates. She's not a singer nor does she play instruments herself, however.
Theresa is part of WMG's corporate tax department, applying the skills she honed earning her SFC Accounting degree to help the company manage its tax compliance, planning, and provision work.
After graduating as her class' Graduate Valedictorian, Theresa accepted a full-time position at Deloitte, one of the accounting industry's four largest global firms. Theresa is among numerous SFC Accounting grads who earn coveted "Big Four" jobs.
Theresa's Deloitte position eventually led her to her new role at WMG, putting her among the movers and shakers of global entertainment. She recently reflected on her St. Francis College experience and her subsequent career.
How did you decide to attend St. Francis College?
I decided to attend St. Francis College because my sister graduated from there with an Education degree. She had so many great things to say about SFC, such as the amazing professors and staff, supportive culture, and the Fransican community, which really influenced my decision.
Did you enroll knowing you'd major in Accounting?
It was actually a decision that I made after I had enrolled. I started as a Business Management major, and I took Elementary Accounting because that was one of the requirements. I had Professor [John] Lombardo and he really influenced me to pursue majoring in accounting. I did well in the course and loved the material, so it proved to be the best major for me.
What misconceptions did you have about accounting before you got involved with it?
I thought it was most likely bookkeeping, but then I came to learn that there are a lot of different aspects of accounting. There is tax, audit, and consulting. There are multiple areas of accounting that you can make a career out of.
What's your specialty?
I chose tax, which I'm very grateful for. The tax law is always changing, so I find myself keeping up to date, researching different tax laws and regulations. I'm constantly learning throughout my career which keeps my job interesting.
Tell me about your career path.
I started my career at Deloitte, a Big Four accounting firm. I spent two years there and now I'm working at Warner Music Group in the corporate tax department. I was originally working in financial services at Deloitte and then I took my career into a different industry, and started working in the entertainment world.
Although I'm still in tax, I find myself in a different culture, which is very upbeat. I'm working on the income taxes for recorded music and music publishing companies. You definitely see different aspects of tax and accounting when going private. It's great to have both public and private experience, and I believe that it is a rewarding career.
Did you always want to get into the entertainment industry?
I always thought I'd find myself working in entertainment at some point in my career. Making the change was not an easy thing to do, but I'm glad I took that step. It's definitely a challenge, but also one that I'm very happy with.
Which St. Francis professors had a big impact on you?
Professor Lombardo. He's been a great mentor and educator. He helped me receive an internship at JPMorgan Chase and guided me towards obtaining an internship at Deloitte, which turned into a full-time position. I'm very grateful for all of the accounting professors and the strong foundation that St. Francis College has provided me.