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The Secured Finance Foundation: Helping to Advance the Future of Secured Finance
September 20, 2022
By Eileen Wubbe
Pictured, left to right: Bill Brewer, Steven Gold, Joseph Massaroni and Bethani R. Oppenheimer
The Secured Finance Foundation’s Corporate Giving Campaign, created to help prepare the next generation of leaders, provide essential data that drives smart business decisions, and invest in the communities of which our members are a part, will conclude on September 30.
As the secured finance industry continually grows and evolves, it takes knowledge, effort, and financial support for the Secured Finance Foundation (SFFound) to keep up with these changes and fulfill its mission. The Secured Finance Foundation encourages, facilitates, and supports education, innovation, and charitable works for the betterment of organizations and professionals who deliver and enable secured finance— and for the communities of which they are a part. Since it was founded 31 years ago, the Foundation has raised approximately $9.5 million to date.
Addressing the Needs of the Secured Finance Industry
Over the last year, SFFound has continued to grow its Guest Lecture program, expanded its On-Demand Education series and continued its Crucial Conversations webinar series. Funded by SFFound, SFNet’s Education Focus 20/20 reshaped course content and delivery to provide a well-rounded foundation for a successful career in secured finance. Classes were split into Fundamental Courses, for those with 0-4 years’ experience, Master Courses, for those with five or more years’ experience, and Continuing Education, which includes webinars and on-demand classes.
Valuable benchmarking and industry data, such as the SFNet Market Pulse, Asset-Based Lending & Factoring Surveys, Secured Lending Confidence Index, SFNet Compendium of Secured Finance Law, Laws & Amicus Briefs and Market Sizing & Impact Study are other key deliverables of the Foundation. Insights gleaned from this research and world-class reporting help to attract capital and keep members up to date and equipped to take on any business challenge.
SFNet was thrilled to hold an in-person 40 Under 40 Awards celebration on June 16, 2022, after two years of virtual awards, honoring the next generation of industry leaders. New for 2022, the Foundation, in conjunction with SFNet’s Diversity, Equity and Inclusion Committee, developed and launched a Mentoring Program that provides the next generation access to the knowledge and expertise of the most talented and respected executives in our industry. This virtual Mentoring Program, conducted through a LinkedIn group and various virtual events over a three-month period, will pair each mentee with a mentor who will be tasked as a team with participating in discussion groups, Zoom gatherings and paired homework, all geared towards professional development.
Paying it Forward
The Secured Finance Foundation Board consists of leaders in the secured finance industry who all share a common goal of giving back to the industry and providing ways to continue to build community.
“One of the primary reasons I became chairman of the Foundation is to focus on our mission, which is encouraging, facilitating and supporting education, and encouraging innovation and charitable works for the betterment of our professionals,” said Bill Brewer, chairperson, Secured Finance Foundation and partner, co-head of Corporate Lending, Winston & Strawn LLP. “I do it because it’s a way to give back to our communities and that’s really important to me.”
“The Foundation’s support of educational programming, next generation initiatives, DEI, and community development all speak directly to me and my desire to pay forward this incredible gift that I was given in the training, mentoring and investment I have received over the course of my career,” said Bethani R. Oppenheimer, member, Foundation Board of Directors and shareholder, Greenberg Traurig. “Being on the Foundation Board and getting to work with other people in the industry towards a common goal is a wonderful experience. I would go as far as to say that the entire Foundation Board shares the desire to pay it forward and to give back to our community.”
Guest Lecture Program
The Guest Lecture Program is well established and expanding. Opportunities are limitless and can help industry executives’ ability to attract and recruit young talent. Students are exposed to the secured finance industry at a much earlier stage. Guest Lecture Programs have been held at Temple University, Rutgers University, Indiana University, The Ohio State University, the University of Illinois, Kennesaw State University, St. Francis College and Howard University. In Fall 2022, Guest Lectures are going to be held at St. Elizabeth University, Fairleigh Dickenson University, Drew University, Baruch College, The Ohio State University and the University of Illinois.
In Spring 2021, the Guest Lecture Program drew 180 students virtually at Professor Gregory Udell’s Entrepreneurial Finance Class at Indiana University and received excellent feedback. In October 2021, Steven Gold, member, Foundation Board of Directors and president & CEO, Allied Financial Corporation,” and Joseph Massaroni, director, business development, Southeast Region, Gordon Brothers and SFNet Atlanta Chapter vice president participated in the guest lecture program at Kennesaw State University in Georgia. The university opened the lecture to the school’s specialized Business Scholars Program. Gold and Massaroni spoke to students, while bringing in pizza for lunch, and gave them a glimpse into the world of secured lending and factoring.
“We talked in generalities about the work we do and how much secured lending helps the economy from a financing perspective. The university wants us to come back twice a year and do this each semester to a larger group,” Massaroni said.
“We didn't just discuss textbook ABL and factoring,” Gold said. “We started talking about Joe’s prior experience working for a large bank, and what I do. We spoke about how we each would look at a deal, how we would break down a transaction, what appeals to us, and how that benefits the entrepreneur versus the large company using our programs.
“We kept calling it the best kept secret,” Gold continued. “Everyone wants to talk about investment banking and private equity money. Those are good buzzwords, but ABL and factoring do not typically roll off the tongue. We were asked questions that were better than what I often get asked by bankers that have had 10-plus years’ experience. These young adults are eager and excited. It was thought provoking for them and they really took it to heart.”
Addressing Training Needs
For those new to the industry, or looking to stay current, training is a critical component of professional development. While training has always been a focal point of SFNet and the Foundation, it came into even sharper focus during the two-plus years of the COVID pandemic. Bill Brewer says the Foundation is grateful it was able to continue its mission throughout the pandemic and not miss a step.
“It required our ability to embrace and promote, more than we ever had, newer training for our education programs and, frankly, for so much that we do,” Brewer said. “It means virtual live programming and our ever-growing library of on-demand education programming for opportunities to learn. That’s been part of the way we’ve tried to continue our outreach to new entrants to our industry.
“Our education focus is on the many aspects which are important to secured finance including accounting, field examination, how to understand financial statements, legal issues, regulatory challenges, state by state differences, international and cross-border issues, and topics you commonly read about, such as the transition from LIBOR,” Brewer noted. “Our programming is designed to cover introductory, intermediate and advanced challenging deep dives on each of these areas.”
“The massive amount of virtual programming and Crucial Conversations webinars that we made available to the industry was significant in helping our member companies ensure the continuity of training through a global pandemic when they may not have had the resources for in-person trainings,” Oppenheimer said. “Outside of COVID, I think our industry has changed in the last 5-10 years in that there are so many more nonbank and alternative lenders that joined our community and became SFNet members, some of whom don’t have formalized training programs. The educational programming initiatives supported by SFNet and SFFound are an important resource for member companies to provide training to both their younger people and to their more experienced people to learn about new concepts and case law.”
The Secured Finance Foundation Corporate Giving Campaign
Supporting the Secured Finance Foundation with the gift of time, talent, or money will help prepare the next generation of leaders, provide essential data that drives smart business decisions, and invest in the communities of which our members are a part. To support SFFound with the gift of your time, talent, or money , click here. Additional information about all of the Foundation’s initiatives can be found on the Foundation website, SFFound.org.
“Donations are used wisely and carefully, and your money is truly stewarded by the Foundation,” Brewer explained. “We focus on education programs, important data studies and information that’s key to the secured finance industry, and the next generation of secured finance professionals. It includes dedicated outreach programs for college students and DEI initiatives, making sure that the secured finance industry is representative of the world in which we all live and communicate. We’re pleased to give back and to be making progress and delivering for our industry and are grateful for everyone’s support.”