Elle McCulty

Partner, Waller Lansden Dortch & Davis, LLP

Biography:

Lenders and borrowers rely on Elle McCulty for advice and counsel on complex debt financings, including senior and subordinated credit facilities, syndicated and single lender loan transactions, asset-based loans, acquisition and development financing, and other commercial finance matters. She serves clients in the financial services, healthcare, and private equity industries. Elle earned her J.D. from Columbia Law School and earned her B.A., summa cum laude, from American University. Elle serves as the Chair of Waller’s Women’s Leadership Council. Waller was named one of the top law firms for women in 2018 by Working Mother magazine.

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

Say “yes.” The best way to learn is to do, and sometimes that means taking on whatever projects come your way, even if it means some late nights and weekends learning the ropes. There’s nothing like tackling something outside of your comfort zone to move to the next level. When people think of you as someone who will eagerly take on a new project and approach it with gusto, you’ll be at the top of their list for the next one. Before long you’ll be thought of as advanced beyond your years of practice.

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

One of my mentors likes to say “Don’t overlook a mistake you see because there are so many you missed.” In the beginning, you’re drinking from a firehose. Run spell check, match up defined terms, fix the font inconsistencies and the margins. If you can’t (or won’t) catch those mistakes, how will anyone  trust you to get the financial covenants right? You can add value on day one by letting your senior colleagues focus on the important business points instead of getting sidetracked by sloppiness.

What advice would you give to help women be more comfortable with speaking up?

Know your stuff. Come to meetings ready to add value where you can. Early on, you may not be the one with the relationships or the institutional knowledge, but you’re often in the best position to know transaction details that others may not. Know the details inside and out, and don’t be afraid to chime in when those details become relevant. That may mean slipping a note to the partner running the call or underlining a relevant provision in the contract to draw their attention to it.

Equally as important, don’t assume your input is not valuable or your attention is not needed. Resist the temptation to multi-task during a long conference call, even when the subject matter seems over your head. Check with the person running the call ahead of time to make sure you bring the right materials, and follow along, taking notes of questions as you go. In the end, you’ll be more efficient with your client’s time and your own. Plus, the person actively taking notes and asking relevant questions after the call gets the plum work assignments.

What is your approach to change in the workplace?

As the chair of Waller’s WLC, I am often approached for my take on workplace issues and ideas on how to improve policies. If you want to be an agent for change, start with these three steps. First, establish yourself professionally. People will be more likely to take your non-billable role seriously when you’re making a financial impact. Second, find mentors and advocates within your organization. Whether it’s support from the top or backing from the most junior team members, you’ll be most likely to succeed when you actively seek out buy-in and advice from others. That said, if you’re in a position of leadership, don’t be afraid to be the face of your cause. These are personal as well as professional issues, and sharing your experiences may be just the way to show others what the path to success can look like, as well as a way to change any divergent minds.