The 2022 Women Leaders In Consulting: Wendy Shapss

Wendy Shapss is a Senior Managing Director at FTI Consulting and is based in New York. She is a member of the Insurance Practice in the Forensic & Litigation Consulting segment. Ms. Shapss has over 18 years of experience in accounting, auditing, fraud and financial-based matters and specializes in litigation consulting, forensic accounting, fraud and financial investigations, and bankruptcy consulting.

Ms. Shapss has provided expert testimony in purchase price dispute arbitrations and factual testimony in cases involving preference actions, as well as advice and factual testimony through written and oral presentations at arbitrations, depositions and settlement conferences. Ms. Shapss has advised on cases involving lost profits, breach of contract claims, and accountants' malpractice. Ms. Shapss' experience includes a multibillion dollar lawsuit filed by a lender against an accounting firm serving as auditors before a debtor filing Chapter 11. In addition, Ms. Shapss has assisted with an antitrust litigation involving resellers and manufacturers of automobile parts. Ms. Shapss investigated a range of issues from defining geographic auto parts markets to financing, pricing marketing and promotional practices. Ms. Shapss has additional expertise with matters involving fraudulent financial reporting; Securities and Exchange Commission investigations; asset diversion; damage quantification; purchase price disputes; acquisitions and divestitures; price fixing; claims management; expert testimony; forensic investigations; accounting irregularities; liquidation; product liability; solvency and insolvency; trustee and examiner issues; and valuations.

Ms. Shapss has worked on various out-of-court troubled company engagements, and has also been responsible for overseeing and monitoring the day-to-day activities of various bankrupt estates. Ms. Shapss managed a bankruptcy case that involved more than 20 debtor companies and substantial allegations of fraud. Some of Ms. Shapss' bankruptcy engagements include Raymark Corporation; Leon Wright; National Restaurants; Food Management; and Venture Holdings Company. Ms. Shapss' experience includes identifying and pursuing preference actions and fraudulent conveyances; monitoring pension plans; sale of estate assets; financial reporting to the Court and parties-in-interest; and negotiating plans of reorganization and liquidation. Ms. Shapss' work assisting troubled companies has included financial model forecasting and long-term strategic business plan development.

Ms. Shapss' assignments have given her a broad range of industry experience. These industries include hospitality; automotive; waste management; insurance; publishing; manufacturing; financial services; apparel and textiles; not-for-profit; restaurants; and retail. Ms. Shapss has also worked on matters involving a broad range of environmental and asbestos issues.

What do you consider your greatest personal or professional achievement?

In both my personal and professional life, my greatest achievement is creating my support network at home and at work. I've been at FTI Consulting for 25 years so people say I bleed "FTI blue." I'm equally proud and protective of my family at home and at work. It's incredibly satisfying to be surrounded by people who feel like they belong to something that's personally meaningful and who care about each other beyond the typical transactional work relationship. Building that kind of nurturing environment has paid huge dividends at home and at work.

What advice would you give to a female consultant just beginning her career?

When I'm asked for advice by my younger colleagues, I tell them to try and absorb everything that goes on in an engagement or a client meeting – both good and bad. You can learn a lot by observing what works and what doesn't, so if you encounter a similar situation you'll be better prepared. In other words, don't get too "head-down" focused on your own work that you ignore what others are doing or else you may miss out on invaluable lessons.

What do you enjoy most about your consulting career?

This is a pretty common answer, but it's working with people, both colleagues and clients. After all, consultants don't make widgets. We provide advice, thoughts and consultative strategy, and for me it's a collaborative process so to be good at it, you have to enjoy working with people.

What's the best advice—personal or professional—you've ever received?

I've received a lot of advice over the years and feel that you get the right advice at the time that you need it. There hasn't been a single "a-ha" moment and there's no piece of advice that is going to be good for everyone at any point in their career, although I constantly remind myself to focus on the things I can affect and not worry about the things I can't. Maybe the best advice I can offer is to be receptive to advice from others so that when you need advice, chances are the right advice will appear.

What does being honored as a Woman Leader in Consulting mean to you?

Being honored in any capacity is wonderful, but it's especially satisfying to be recognized as an outstanding mentor. I feel very proud about making a positive difference in the lives and careers of individuals on my team and helping them get to the next level. Successful companies have great teams, not just individual leaders, so mentorship is one of the most important things leaders can do to cultivate long-term market growth.