Carol Anderson

Vice President, Portfolio Management, U.S. Bank Asset Based Finance

40 Under 40 Category: Portfolio Management

Biography:

Carol has over 15 years of experience in underwriting and account management of asset-based and cash-flow transactions.  Most recently in her role at U.S. Bank, she manages a portfolio in the large-cap retail sector, which she finds interesting as she views her accounts from both the perspective as a banker as well as a consumer.  She began her career at GE Capital as an investment analyst and later joined GE’s Global Sponsor Finance team, followed by several years at Freeport Financial.  Carol graduated from the University of Wisconsin – Madison with a BBA in finance, international business and business French.  She lives in Chicago with her husband, three-year-old son and, until very recently, her giant Bernese Mountain Dog.   

Is there a piece of professional advice that you would give yourself if you could go back in time? 

Perhaps a common answer, but worthy to repeat…Speak up!  Early on, it was intimidating to not only be the youngest in the room, but often the only female in the room.  A number of times, someone else would state out loud what I was thinking, but just didn’t vocalize, which was frustrating.  However, I distinctly remember how one manager in particular would go around the room and ask what we, as deal team members, thought of a new transaction after reading the offering memorandum, only he’d ask the younger people in the room first for their opinion.  I gained great confidence from that ongoing experience.  I could voice my concerns, questions, or support for a deal and I didn’t have to be intimidated by trying to jump in mid-discussion with people who were much more experienced than me.  After the discussion concluded and most team members headed back to their desks, my manager would ask if I had any questions on the concepts discussed or if there was anything I didn’t understand.  It helped to have someone not only act as a manager, but also as a teacher and I’m extremely grateful for that. 

What is the best professional advice you have been given and how have you implemented it?

Don’t burn yourself out.  It’s important to balance your career with family, travel or any other activities you enjoy.  I took a few years off of work after my son was born and was so glad that I did.   We spent long afternoons taking stroller walks with our pup, attending music and swim classes, building train tracks, and hanging out at the park.  It was a break in my career, but worth, it as I’ll never get those early years back.  I was fortunate enough to re-join the ABL team at U.S. Bank when I was ready to return and there happened to be an open position.  Since rejoining, I make sure to balance my days by maintaining our balcony garden, taking brisk walks during my lunch hour, and of course, I still build train tracks with my son when I get home.  

How do you think the commercial finance industry can attract more young professionals?

The industry needs to make itself known.  Start by participating in more widespread college career fairs or other recruitment events.  Young professionals may not even know that our type of financing exists, even though most places they shop or frequent likely have an asset-based or cash-flow loan.  Our industry provides a unique experience, as not only do you learn how a lending institution works, but you also learn how our customers function across a wide variety of industries … oil and gas, healthcare, manufacturing, retail, etc.  

How did you wind up in the industry? We know most kids don’t say “I want to be in commercial finance when I grow up.”  

I liked math.  It just made sense to me.  Often, while waiting in line at the store, my dad would challenge me to figure out how much the total would come to, including tax.   When I got to college, I knew I wanted to do something with numbers and loved the idea of travel, which led me to major in finance and international business.  I didn’t want to just sit behind a desk, so the investment analyst/collateral auditor position was a great way to enter the industry.  I loved touring manufacturing facilities to see how products were made, enjoyed questioning management teams on the state of their business, while remaining speculative of fraud.  Essentially, I got to be a “money-detective” while traveling the country.