Preheat oven to 350 degrees F. Spray (2) tiara pans with no stick cooking spray.

Place the cake mix into a large mixing bowl, add the water, oil and eggs. Beat with an electric mixer, on medium speed, for 2 minutes.

Spread the batter evenly into the pan. Tap pan 2 times on countertop to help air bubbles to rise.

Bake 17-18 minutes, or until cake is light golden brown and toothpick inserted into center of cake comes out clean. Remove from the oven and cool about 6 minutes.

Carefully invert cake onto a wire cooling rack. Allow to cool completely. Transfer cake to serving platter.

While cake is baking, place the peaches into a colander to drain.

When cake is cooled, prepare the mascarpone filling. Place mascarpone cheese, confectioner sugar, and almond extract into medium sized mixing bowl. Beat with electric mixer until ingredients are well combined and smooth. Spread filling into the center indentation of the cake. Refrigerate for 30 minutes.

Prepare the whipped cream. Place heavy whipping cream and confectioner sugar in a medium sized bowl and beat on high speed with electric mixer until stiff peaks start to form. Refrigerate until ready to use.

Arrange the drained peach slices on top of mascarpone layer. Warm the peach jam about 12 seconds in the microwave and brush over the peaches.

Add the whipped topping to edges of cake by piping in a pastry bag, or dropping by spoonfuls. If cake will not be served for several hours you may do this step later or even add the whipped topping to the cake slices.

Refrigerate unused cake.