What does it take to go from accounting major to auditor to a senior advisor for some of the largest international corporations? Ted Senko, B’78, lists three major influencers: his father, KPMG and Duquesne University.
Born and raised in Pittsburgh, Ted is the son of Slovakian parents. His father, Joe, is the son of steel workers, and was the first in his family to go to college. He went to Duquesne for accounting, eventually opening his own firm. It was here that Ted got his first taste of accounting. “You take your work home with you, and I think Ted was influenced by that,” says Joe Senko. “On Sundays, I would make house calls, particularly for Slovak families.” Joe jokes, “He was impressed with how much you could make on a Sunday.”
This work ethic wasn’t lost on Ted. “The Slovaks have a strong work ethic,” says Joe. “All my children worked hard when they were going to school. Ted worked as a dishwasher. He came home and his hands were all chapped. That strong work ethic really helped in his business and personal life.”
Still, Ted and his dad didn’t always see eye to eye – especially when it came time to go to college. “I wanted to go west and ski in Colorado,” says Ted. “Duquesne wasn’t on my list, but it’s where my father wanted me to go. He felt it was right for me.”
Joe adds, “I was kind of a strict dad. I knew in the accounting business during ski season, you’re going to be working day and night. I told him he was going local.”
Today, Ted is thankful for that guidance. “Looking back, it was the best thing for me,” says Ted. “I got more than an education. I was an accounting major, but it was about the values that you learn. You can get a strong technical education in a lot of places, but there’s something different about going to Duquesne. As an adult, you get into a lot of difficult situations and you have to do what you believe is right. Values are embedded in the curriculum and in everything they do. When you’re there, you hear it day in and day out. It becomes embedded in the way you think.” Ted adds, “It’s more important than anything I’ve done.”
Beyond Pittsburgh
Ted graduated from Duquesne with a degree in accounting and immediately continued the standout performance that’s a hallmark of his career. His father relays proudly, “When Ted sat for the CPA exam in Colorado, he came out first in the state. He won a medal for getting the highest score in Colorado, and his score nationally was in the top 5 or 10.” It was enough to impress the Big 4 accounting firms. “He had offers at all the firms,” says Joe. “The best was KPMG.”
Ted joined KPMG’s Denver office in 1978. “There were 15 other new hires that joined about the same time. They came from all over the country — some from prestigious schools. I felt that the strength of my education was as good as any. I was as technically competent as anyone, and I had the work ethic that Pittsburgh people have. I was willing to do whatever it takes to get the job done. Those core values allowed me to succeed. You have to have a really strong ethical underpinning as you move up. In client situations or situations within the firm, you have to know when to say ‘I’m comfortable’ and when to say ‘I’m not.’ You gain respect whether people agree with you or not, and over time that builds confidence.”
At KPMG, Ted transitioned quickly from traditional auditing into other specialties and consultative services. “When you go to a big firm,” he says, “You have opportunities to do a lot of different things. I was always open to trying new things and being challenged.”
Ted was given the opportunity to start and run KPMG’s first internal audit advisory service practice. “It became the largest segment of our advisory consulting business,” says Ted.
Subsequently, Ted was asked to serve as the first global chief executive of KPMG’s Climate Change & Sustainability Services practice. He says, “It’s clearly a global social issue. We made investments and developed the service line globally. This was really exciting. It was a unique opportunity to focus on how you could help businesses see value through being sustainable. Initially businesses often view such efforts from a cost perspective. We create a lens where you look at social issues and analyze them in the context of how you can address them as an investment with a rate of return in a way that will actually enhance your profits and results. Then they get interested. It’s a win-win for stakeholders, the environment and businesses.”
Embracing challenges with an entrepreneurial spirit
Ted’s ability to tackle and succeed at such a major challenge isn’t surprising to Bob Krizner, Pittsburgh Office managing partner at KPMG and one of Ted’s long-time colleagues. “One of the things that I’ve noticed about Ted as he’s progressed in his career is that he’s always willing to embrace a challenge — helping start the internal audit advisory group, jumping in to lead this climate change and sustainability group. He has a bit of an entrepreneurial spirit in him. That is one of the characteristics that has helped lead to his success. To have that spirit in a large firm like ours is a rare trait. It reflects strategic thinking on his part – especially in sustainability – to get us out there in a developing area for the firm.”
Krizner recalls how Senko rose through the ranks, getting awarded prestigious appointments that were reserved for the high achievers. He did an assignment in KPMG’s department of professional practice, where he assisted professionals all over the country on various technical matters. He was also an SEC reviewing partner. “There were probably, at the time, less than 150 of those across the country,” remarks Krizner. Eventually Senko was asked to go into the advisory business, rebuilding aspects of the firm’s consulting practice. He led the development of Internal Audit Services and was later asked to take a role within the firm as chief audit executive.
“Everything that Ted gets involved in, he brings a level of passion to it,” says Krizner. “He will run the gauntlet to move something towards the goal. There’s a level of intensity.” Krizner puts it this way, “You know when you’re in the room with Ted.” He maintains that Senko is not only focused, but also a good relationship builder. “He’s a very personable guy, and he has a good sense of humor. I have clients that have had relationships with him for years, and they always speak very highly of him.”
Never take your foot off the accelerator
Business isn’t the only thing that Senko feels strongly about. According to Krizner, “Ted has a passion for Duquesne. I cannot have a conversation with him without him mentioning Duquesne. He loves the university. He says what a great experience it was for him and how he knows it’s producing a lot of business leaders in this region.”
As a way to honor the major influences in his life, Senko created the KPMG/Joseph T. Senko Scholarship. “My career has exceeded anything I could have imagined at the time,” says Senko. “It’s due to my father’s guidance. He looks a lot smarter to me now than he did to me at 18. I wanted a mechanism to honor my father and KPMG and the opportunities they’ve given to me. Everybody struggles with the cost of education, and this is one way I can make a difference.”
Senko also serves on the Duquesne University Board of Directors. “Everyone on the board is there because they want to give back,” Ted remarks. “They acknowledge that they’ve had tremendous success, and they want to contribute to the success of future generations.”
Duquesne has recognized Senko’s accomplishments by inducting him into the Century Club, a group of distinguished alumni who have served and given back to the school and the community.
Passion. Values. Hard work. That’s what it’s all about for Ted Senko.
Perhaps his long-time colleague sums it up best. Bob Krizner says of Ted Senko, “We all come to the tail end of our career and some people might look at that as an opportunity to take their foot off the accelerator. That is not Ted. He’s as passionate about what he’s doing today as when I met him 20 years ago. That’s really refreshing.”
