David Ritchay

Senior Vice President, Business Support Executive, Bank of America Business Capital and Asset-Based Lending

Biography:

David Ritchay is the business support executive for Bank of America Business Capital and Asset-Based Lending (“BABC”). David is charged with leading strategy initiatives and is responsible for the BABC Business Risk Support, International Risk, Treasury Risk, and Field Exam teams.

David originally joined BABC in 1988, working in field exam and underwriting.  During this period David also co-managed the field exam staff, and underwrote asset-based and cash flow loan facilities.  From 1999-2006, David was a division portfolio officer, with portfolio and credit responsibilities for both the Chicago and New York regions.  After three years working at NewStar Financial, David rejoined BABC as a portfolio manager and in 2010 assumed his current role. David received a bachelor degree in accounting from the University of Wisconsin – Whitewater. He is currently Chairman of the Posse Chicago’s Leadership Council, and Chicago Board Member for LEAD (Leadership, Education, Advocacy and Development) for Women.

What advice would you offer to someone just starting out who wants to be a difference maker in their organization?

For someone striving to make a difference in their organization, it’s crucial to make yourself visible and share your ideas with the right people throughout the company. One can do this by actively engaging in networking and volunteer opportunities, as well as affinity groups offered by your company. People should also seek leadership experience – even if it’s outside your organization at first. Good opportunities for leadership roles include local nonprofits that are of interest, to help build and foster strong leadership qualities.

Tell us more about your involvement with Chicago Leadership Board of LEAD (Leadership, Education, Advocacy and Development) for Women and as an LGBT+ Pride Ally as well as The Posse Foundation. How did you become involved? Why are their missions important to you? 

Both are bank-wide organizations, and I participate with the Chicago-based chapters. These groups provide opportunities for professional development, education and networking purposes to help teammates raise their profiles and interact with other colleagues they might not otherwise meet throughout Bank of America. In addition to sharing ideas with other affinity group members, it is a great tool to help retain talent within the bank.

Additionally, the Posse Foundation identifies, recruits and trains a diverse group of high school students with extraordinary leadership potential in 10 cities nationwide, including Chicago. Posse scholars receive full-tuition scholarships from Posse’s partner colleges and universities. In 2013, I became involved in Posse through our summer intern, and connected with the Posse Chicago team through volunteer, mentoring, recruiting, alumni and fundraising activities. Because of my belief in Posse’s mission, I joined the leadership council in 2015. I am a strong advocate for their goals to expand the pool of candidates for top colleges and universities and build more interactive campus environments for students of all backgrounds.

What advice would you give to people who want to give back but aren’t sure how to select exactly which charities or organizations?

It’s important to get involved with an organization you’re truly passionate about. Take the time to research and volunteer with different organizations until you find the one that resonates with you most. Without the passion behind the mission, it may be difficult to fully commit to the cause as needed. It’s also helpful to network with other leaders and volunteers within the organization to get a true sense of what the organization and commitment entails.

What do you enjoy most about your role at Bank of America? 

The opportunity to work with such a strong, passionate and experienced team who are together focused on serving our clients, shareholders and supporting the communities in which we work and live.

What advice would you give to someone who is looking to give back and volunteer on selecting which organizations they should dedicate their time to? How can they narrow down to find the right charity or organization for them?

It’s important to first identify your primary interests, and then volunteer at scheduled events to network with the charity leaders and other participants. Through these events, you can learn more about the organization’s mission and determine if you are a good fit with the organization, other volunteers and the time commitment.