TreviPay's Joel Campbell Discusses Journey from Finance to Digital Platform
Straying From the Beaten Path: Joel Campbell's Journey to Becoming a Fintech CEO
Joel Campbell boldly eschewed the conventional path to reaching his current position. After a brief stint in public accounting during the '90s, he steadily stepped into treasury roles for the subsequent two decades. In his own words, treasury is a natural haven for corporate finance enthusiasts.
His initial foray into treasury took place at Travelers in St. Paul, Minnesota, followed by positions at Western Union and H&R Block. Another significant milestone on his career journey was joining Kansas-based fintech firm TreviPay as a CEO in October 2020, mere months after private equity firm Corsair Capital completed a $350 million acquisition deal.
Founded in 1978 as Multi Service Technology Solutions, TreviPay primarily caters to B2B merchants, boasting power over $8 billion in global trade today. Headquartered in Overland Park, Kansas, with offices throughout the world, this global presence and impressive clientele account for the company's enduring success.
Under Campbell's leadership, TreviPay has consistently witnessed a 20%+ annual revenue increase. In an exclusive interview with ourwebsite.com, Campbell expounds upon his journey, offers insights on the future of accounting, and shares his vision for the upcoming chapters of his professional life.
Fintech Titan, TreviPay
First Fintech Gig: October 2020
Distinguished Previous Employers:- H&R Block- Western Union- Ameriprise Financial
This interview has been streamlined for brevity and clarity.
DAN NIEPOW: You obtained your CPA license in 1993 and your MBA a decade later. Are you still an active CPA at present?
JOEL CAMPBELL: I relinquished my CPA status more than 20 years ago voluntarily, since at the time I was engrossed in numerous other matters. In retrospect, it'd have been wiser to maintain my CPEs and keep my credentials current. However, the technical accounting acumen I have on my dedicated team at TreviPay obviates the necessity for me to invest substantial time in that area.
We've witnessed several states revise CPA licensure prerequisites recently. How do you view the evolution of state regulations and the future of the CPA?
I've pondered state regulation changes from two angles. For one, since I graduated in the '90s, universities have altered their curriculum to emphasize the exam. I was one of the few who took a review course after graduating and passed the exam a couple of years later.
However, as accounting bachelor's programs evolve, students are now well-prepared to take the CPA exam and pass at least half of it upon graduation. That's a substantial change in the way universities have approached accounting education.
Secondly, I believe the CPA designation remains crucial. It's one of the most rigorous professional certifications, alongside the CFA. The challenge moving forward will be enticing and fostering the next generation of CPAs, ensuring the profession remains vibrant and relevant.
TreviPay is your inaugural foray into the realm of fintech. How does it contrast from your past financial experiences? What distinguishes being a fintech CEO from being a treasurer?
Many finance professionals project their futures several years down the line. I, too, strived to emulate those who were ahead of me, whether it was an MBA or additional certifications. As a treasury insider for 27 years at large public companies, I picked up a taste for what a CEO role might entail.
However, the reality of occupying the role is entirely different. It entails a broader, deeper scope of responsibility than the specialization required in treasury. While the depth of expertise I acquired in treasury was crucial for me to step into the role, the breadth of responsibilities as a fintech CEO is dramatically distinct from my past experiences.
The appellation "fintech plus" symbolizes the multifaceted roles we assume at TreviPay. As executives in this nimbler organization, we seamlessly weave through various roles. In addition to handling traditional finance functions like accounting, FP&A, tax, and treasury, we are actively involved in overall corporate strategy, global go-to-market strategy, M&A, facilities, procurement - and now, HR, too.
After serving as the Chief Risk Officer at H&R Block, what's your perspective on risk in the context of being a fintech CEO?
The extensive experience I garnered as a risk officer at H&R Block has given me a profound understanding of the comprehensive risks that face a business. It's also broadened my grasp of specific risks, particularly cyber risk. The role has equipped me to exert a more substantial impact on our corporation's risk management strategies.
Your tenure at TreviPay surpasses the customary period for a fintech CEO. What has continued to fuel your commitment to TreviPay for almost five years?
My enduring commitment to TreviPay stems from my genuine desire to aid the company's growth and expansion. Diligence, coupled with leadership and strong relationships, are the keystones to success. I maintain a close relationship with our CEO, fostering lasting dimensions to my role at TreviPay.
If the need arose - or if I received an irresistible offer - do I have a succession strategy in place at TreviPay? What does this plan entail?
The intricacies of succession planning at the executive level are a regular topic of discussion. We continually evaluate the talents within our organization and review the plans annually. I have two formidable vice presidents in finance who vie for my position. If they choose to pursue this trajectory, they're more than equipped to take on the role. The greater market for fintech CEOs is also conducive to locating outstanding talent.
Joel Campbell notes that he voluntarily relinquished his CPA status over 20 years ago, acknowledging it might have been wiser to maintain his credentials.Campbell believes the CPA designation remains crucial, deeming it one of the most rigorous professional certifications alongside the CFA. He asserts that the challenge moving forward will be enticing and fostering the next generation of CPAs.Campbell describes his role as a fintech CEO as dramatically distinct from his past experiences in treasury, stating that it entails a broader, deeper scope of responsibility.Campbell emphasizes the importance of risk management in his current role as a fintech CEO, citing his experience as a risk officer at H&R Block as essential in broadening his understanding of comprehensive and specific risks.
