Ita Conlon

Credit Risk Officer, Santander Bank

Biography:

Conlon is credit risk officer for ABL at Santander Bank in Florham Park, NJ, with approval responsibilities for asset-based lending, equipment finance, auto floor plan and government banking.  A 25-plus year veteran of the ABL industry, Conlon has served in numerous capacities with increasing level of responsibility, including ABL audit, relationship management and portfolio management

In her current role, she partners with business development officers, underwriters and portfolio managers to properly structure and adjudicate ABL transactions. Conlon carries significant credit authority and has oversight responsibility for the $2 billion ABL portfolio.  She plays a pivotal role in ensuring appropriate client selection and asset quality and maintains strong relationships with Santander’s clients.  Conlon is also responsible for monitoring and credit quality, compliance with existing credit policy, early detection of possible deterioration in the portfolio, as well as integrity of credit risk ratings for accuracy.  Prior to Santander, Conlon was an associate portfolio manager at Fleet Capital Corp – Business Finance Division. 

Professional memberships include past chairperson and president of the SFNET’s New Jersey Chapter, past member of the SFNET’s National Chapter Focus Committee, and current member of the SFNET’s Women in Commercial Finance Committee.  Conlon has a BS and MBA in accounting from Montclair State University. 

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

Be a good and attentive listener.  If you are unclear what is being asked of you, ask questions for clarification. Your manager will appreciate that you want to make sure you understand the task at hand and want to meet expectations.  Do not be afraid to speak up.  Always remain curious.  Seek out additional responsibilities. Have regular check-ins with your manager to obtain valuable feedback on your performance. This will also give you the opportunity to let your manager know of your aspirations to take on additional responsibilities. If your employer offers a formal mentor program, make sure you are an active member.  If not, there are many informal opportunities to seek out a mentoring relationship. These relationships remain invaluable throughout your career.  Keep yourself current on the industry trends and education.  Take advantage of continuing education opportunities, whether in-class or on-line. Become active in organizations that are sponsored by your employer or community. These present excellent opportunities to enhance and expand your professional network.  Try to expand your work network to include other professionals who are not in your direct area.  Create and update social networking for professional sites, such as LinkedIn.  There is an abundance of information made available on these sites.  Many employers encourage employees to volunteer.  Volunteering can provide additional opportunities to network, as well as be rewarding experience.  I recently volunteered as a coach and judge at a Junior Achievement Program in Newark, New Jersey.  It was rewarding to work with teenagers with real life projects and provide insight and guidance.     

What is your advice to change in the workplace? 

Having been in the asset-based lending industry for over 25 years there is one thing that has remained constant – CHANGE! Whether it be updated systems, policies, guidelines or regulations, change is a constant. Your ability to react to change will make you stand out from those who are reluctant to change. Those who embrace change are those who will ultimately succeed.  ABL has gone through significant changes over the last 25 years. There was an interesting article recently published in the ABF Journal describing how changing technologies have changed the asset classes that are financed by the ABL industry. In addition, the outsourcing of services, and the valuation of inventories and M&E in an ever-changing environment create unique issues.

How can commercial finance organizations offer meaningful professional development and career advancement? 

Becoming an active member in your local commercial finance organization is key in developing and expanding your professional network.  When I first became an active member in the SFNET New Jersey Chapter, I attended both education and networking events.  This expanded my network to other professionals in the industry, including accountants, lawyers and service providers.  It was through this networking that I was originally nominated as secretary of the New Jersey Chapter, eventually becoming chairperson.  Over the years, I have developed lasting professional relationships which serve as both mentors as well as potential new business opportunities.