Jessica DeBruin

Principal, Goldberg Kohn

Biography:

Jessica DeBruin is a principal in the firm’s Commercial Finance Group.  She represents banks and other commercial lenders in structuring, documenting, negotiating and overseeing due diligence for asset-based and cash flow loans.  Jessica’s work crosses a wide range of industries, including manufacturing, restaurant, technology, software, business service, food and beverage and energy, as well as all levels of the debt capital structure. 

Jessica is a four-year member of the firm’s Management Committee and is chair of its Administrative Committee.  She is a member of the SFNET Women in Commercial Finance Committee and its Strategic Planning Subcommittee, as well as the Women’s Committee for the Midwest Chapter of the SFNET.  Jessica has also led Goldberg Kohn’s annual Women in Commercial Finance and Bankruptcy event in Chicago for the past five years, and will be hosting its sixth event this fall.  

Jessica is admitted to practice in Illinois and is a certified public accountant.  Jessica received her law degree from New York University in 2000 and her B.S. in accounting, with honors, from the University of Illinois at Urbana-Champaign in 1997.

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

Ask questions that help you understand the big picture of our industry and your institution.  Particularly when you have an opportunity to attend calls or meetings with more senior team members, use those opportunities to learn more about the issues they are raising.  Of course, be mindful of finding the right time, and the right person, but it is critical in the early years to develop a solid foundation of industry and institutional knowledge, because information builds on itself.   

Persistence and risk taking are also important to having a lengthy and successful career in our industry.  Have personal career goals, and know that there will invariably be obstacles.  Keep asking for opportunities to learn the tasks you want to learn, and don’t let the first (or second) “no” be the answer for too long.    Take risks by seeking and accepting assignments outside your comfort zone, or from demanding team leaders, and using those experiences to learn new skills. 

Finally, it is critical to know that we work in a relationship-driven industry.  No matter what the role or institution, verbal and face-to-face interactions are important.  Also important are each and every contact you have with someone, whether it is a colleague or client, or even opposing counsel, client of clients, and other advisors.

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

I wish I’d known how much value a junior team member can bring to an institution and to a transaction.  I recently read an article analyzing the benefits to patients from doctor teams with varied levels of experience, and I think the same thing is true for lawyers.  Those coming out of law school today often have a number of years of prior work experience, often in a different industry, and they bring a fresh perspective from those experiences.  Law school is different today than it was 20 years ago, and current students have many more opportunities to have practicum and clinic experience.  And recent graduates are much closer to the ever-changing technology landscape.  These factors allow for tremendous potential on day one. 

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

Mentoring and sponsorship have played a huge role in my career.  Mentors are critical to filling in so many gaps in information that are useful for career success – providing institutional knowledge and advice, explaining the big picture and providing important feedback.  One early mentor was a senior partner and we traveled frequently to New York for in-person negotiations.  I am grateful for those trips because they provided tremendous opportunities for unstructured mentoring time, whether waiting around in airport lounges or sharing taxis and meals. 

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

We all know the Millennial generation is looking to make an impact through their careers.  I think the most important thing our industry can do to attract and retain them is to listen to them.   Our firm has done so to a greater degree than in past years, and I think we’re starting to see benefits from doing so.  Whether it’s greater flexibility in work locations, more frequent and specific feedback, increased transparency in decision-making, or other issues raised by more junior ranks, I think institutions can benefit from those ideas.