Barbara J. Coffin

VP Portfolio Manager, Sterling National Bank

Biography:

Barbara has over 30 years of ABL/commercial lending experience in Dallas TX. She graduated from Texas Tech University with a BS in child development.  After determining she didn’t desire to be a teacher, Barbara began taking accounting and business classes at night, completing 40-plus hours, while working as a collateral analyst at Wells Fargo Business Credit/Security Pacific Business Credit.  She was promoted to assistant account executive, prior to the Dallas office of Security Pacific Business Credit relocating to California.  Barbara remained in Dallas and joined Transamerica Rental Finance as a collateral/financial analyst. 

In the early 1990s, Barbara joined Barclays Business Credit, which, through acquisitions, became Shawmut Capital and then Fleet Capital, as a collateral analyst before being promoted to senior collateral analyst.  In 2000, she moved to CIT Business Credit as an operations manager and participated in a corporate-wide business process review, rewriting corporate policies and procedures.  She was then promoted to credit analyst, and then account executive. After 15 years with CIT Business Credit, Barbara had the opportunity to move to NewStar Business Credit, now Sterling National Bank, where she is currently a portfolio manager.

What advice would you offer to women just starting out in the industry?

The best advice I could offer a woman starting out in the industry is do not underestimate the power of networking.  Find an industry group, like the SFNET or WFE, and get involved.  Getting involved in one of these trade groups will allow you to develop relationships and gain knowledge and perspective from women who have already conquered this male-dominated industry.  Also important is to find someone, whether within the company you are employed at or in one of the trade groups, to act as a mentor or role model.  A strong mentor will allow you to share experiences and gain encouragement with the goal of providing career advice as well as both professional and personal enrichment.

What do you know now that you wish you knew in the beginning of your career?

I have learned so much in the many years that I have been involved in the commercial finance industry, but I think the one thing I wish I knew then is the importance of networking and staying connected.   Networking events can provide a laid back atmosphere to chat with people of similar backgrounds which can lead to many opportunities to grow personally and professionally. 

What kind of role has mentoring and/or sponsorship played in your career?

I believe mentoring has played a very important role in my career development. I have always had strong mentors/role models that I followed and from whom I learned a vast majority of what I know today.  Having strong mentors through the years has provide me with encouragement and someone to emulate as I grew in my knowledge and experience.  A trusted mentor can provide you with a sounding board to bounce off ideas in an unfiltered environment and will offer a candid opinion to see the potential impact of the ideas.  During the time that I was transitioning from operations to portfolio management, I was fortunate to find a mentor that I could sit down with and talk openly about my concerns and whom I could go to with any question and not be made to feel incompetent.  I also made many connections through my mentors over the years which provided me the opportunity to grow my network of friends and colleagues that I may not have had otherwise. 

What do you think the industry could do to attract and retain the best and the brightest today?

Visit universities and colleges to promote the industry.  I believe sponsoring internships and analyst training programs would help introduce young people to the industry and would attract new applicants.  The opportunities for employment in the commercial finance industry are endless, but unless you know someone or know where to look, it is hard to find information about careers in the industry.  Perhaps getting information about jobs and career opportunities out on social media through applications like Facebook, LinkedIn would help to engage younger generations.  I believe that promoting mentoring and providing training and leadership development programs will help advance employees and retain the best.  I think that training and development is one of the key drivers for retaining talent.  Offering the opportunity to gain new skills and experiences will increase motivation and job satisfaction. Providing a clear career path and training programs to help develop and grow employees will result in retaining the best.