Denise A. Albanese

President, Cost Reduction Solutions

Biography:

Denise A. Albanese, owner of Cost Reduction Solutions, a national due diligence firm, assumes the role of business development for the company. Prior to joining the commercial finance industry, Denise led a major account team in the office equipment solutions industry for a $5.2 billion publicly held company. Denise has helped grow Cost Reduction Solutions’ customer base by more than 75% in the past 10 years and helped CRS service more than 180 unique customers and commercial lenders. 

Denise is active in the lending community, as the acting Chairman of SFNET’s New Jersey Chapter.  Denise served as SFNET’s New Jersey Chapter President in 2016, as well as a committee member on the first ever “40 Under 40” recognition ceremony for the Secured Finance Network, formerly Commercial Finance Association,. Denise is a dedicated mentor for young professionals, actively encouraging networking growth, opportunities and promotions within the company and industry for the “Next-Gen/“YoPros.” In 2015, Denise founded a not for profit 501C3, Paulie & Pals, which offers financial assistance to families who have children affected by autism. Denise has two children and is the proud grandmother of two granddaughters.

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

Always put your best foot forward. You should work hard, but work smart. I was told early in my career, be the first one in and the last to leave—“the boss will see your efforts.” Now that I am in the senior position, I can tell you that is a valid suggestion. Good and bad work efforts do not go unnoticed. You should always be prepared, setting goals with a planned strategy. Stay true to yourself and your morals. “A good work ethic” will always prevail. I have a Douglas Adams quote in my email signature: “To give real service, you must add something which cannot be bought or measured with money and that is sincerity and integrity.”

Don’t be shy about “touting” your value and strengths as they relate to your particular position as well as the value you add to the organization. Don’t “go it alone”. Try and seek advice or a trusted mentor to help see you through all of the above.  

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

I wish I knew that it’s okay to step out of your comfort zone. In doing so, with confidence, the possibilities of success are endless. It is also acceptable to be afraid, just don’t let it hold you back. Use caution mixed with confidence and optimism as a formula for attaining whatever goal you set for yourself.

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

Mentoring the “newbies”, as we endearingly called new business development candidates, ultimately has either validated my own processes or let me “see myself” in action to tweak any deficiencies, and sometimes has even given me the kick in the pants to keep up the pace. In addition to mentoring or sponsoring, I feel it is important to offer your time as a volunteer to a charity or an organization bigger than yourself. Volunteering your time and effort offers you the ability to expand your horizons beyond the workplace. There is an extra underlying benefit, as there are wonderful business relationships that have evolved while volunteering. There are many positive studies supporting the human need and fulfillment attained as a volunteer.

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

To attract the best and the brightest, industry and company leaders need to reach out to local colleges and universities’ Master program directors. Educating the university or college on the possibilities of a “career path” in this industry that, in turn, would be presented to the students would be a great place to start. There are many instances, when speaking to this group of Millennials, I have heard them say, “I had no idea of this possibility of a career in this industry.”  Once they are hired, this generation, known to SFNET as YoPros or Millennials, like it done “their way”. They cherish time and scheduling. Recognizing that setting goals for this group while letting them set their own schedule will be a winning combination. There are a plethora of studies and suggestions related to this group. YoPros are a driving force with great ideas and energy. Upper management has a new challenge, in a positive way, to welcome Millennials in the workplace and give them a valid position while offering the older generation, who are not exiting the workforce as quickly as they had done in past years, a place to work.