Eric Marschke

Vice President, Underwriting, U.S. Bank Asset-Based Finance

40 Under 40 Category: Underwriting

Eric Marschke is vice president, underwriting for the U.S. Bank Asset-Based Finance division.  Based in Minneapolis, MN, Eric is responsible for underwriting middle-market and large corporate asset-based transactions for new and existing clients.  Prior to his current position, Eric was a marketing development officer for the Asset-Based Finance division, where he worked with business development officers and collaborated with referral sources to identify, originate and evaluate new asset-based credit facilities.  Before joining U.S. Bank in 2013, Eric spent 10 years in the valuation industry.  Here, he began his asset-based lending career and provided valuations for asset-based lending, commercial banking and financial reporting needs.  

Eric earned his bachelor degree in finance from the University of Wisconsin Oshkosh in 2003, where he was a manager of the Student-Managed Endowment Fund and later served on the Board of Directors for the College of Business Alumni Association.  Eric lives in the Minneapolis area and enjoys fishing and being active in the outdoors.

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

Consistent and great communication is critical, and there is no substitute for clarity.  Throughout my career, this has been a focus of mine.  The world continues to move at a faster pace, with timeline expectations shortened, customer expectations increased, and more stakeholders often involved with processes and decisions.  As a result, the need for high quality and timely communication has never been greater.  My communication approach is to be as responsive as possible, be specific with questions, communicate updates frequently, and attempt to be as clear as possible (first) while still being concise (second).  I like to drive the communication on an underwriting or project versus being reactive and having others, internally or externally, needing to ask for updates or check in.

What is your definition of success?

This is a tough question.  I don’t view success so much as a milestone or endpoint, but rather a journey.  I think if this path can be walked over time in a way that makes a person happy, if it’s rewarding, and if balance can be reached in work and life in a way that also meshes with where a person is in his or her life, then that equals success.

How do you define a good leader?

A good leader can recognize and leverage the individual strengths and backgrounds each person brings to the table, while also viewing areas of less experience, or even weaknesses, as growth opportunities. Ability to continue to learn and grow drives employee engagement and career opportunities.  A good leader is someone who can articulate an overall goal or plan and provide strategic guidance and support, while still allowing other individuals the latitude to execute in their own most effective way based on what they see and encounter.  A good leader also listens to employees and values their ideas and contributions.  I’ve been fortunate to work for some great leaders during my career, and I believe that working for a strong leadership team is vital to long-term career success and happiness.

What advice do you normally give to the junior talent you mentor?

I try to highlight the importance of developing a highly efficient approach to work.  Efficiency is a mindset and a skill that can be honed over time.  One of my favorite quotes by Abraham Lincoln is, “Give me six hours to chop down a tree, and I will spend the first four sharpening the axe.” 

Rather than just taking off with an assignment at full speed, it’s important to first take a moment to size the situation, develop a plan, a timeline if necessary, and then evaluate available resources, tools or anything else that can be leveraged.  It’s about being focused and very strategic with available time – perhaps working when you are most productive and, in general, finding the best way to get from point A to B.  

Something I learned early in my career was that, when working on a project, it’s important to advance several different tasks and aspects each day, versus focusing on one specific task until completion before moving on to the next.  Ultimately, the benefits of an efficient approach to work are invaluable, because the time saved can be used in many other ways professionally and personally.