Lauren Trussell

Senior Vice President, Bank of America Business Capital

40 Under 40 Category: Underwriting

Biography:

Lauren is a senior underwriter on the Business Capital team at Bank of America, where she structures and underwrites asset-based financing solutions for midsize-to-large companies. 

Lauren led the project team to create a resources website for the Business Capital team, contributed to digital enhancement and process improvement initiatives, and has created and presented various training materials. In 2019, Lauren won Bank of America’s Apex and Wholesale Credit All Star awards.

Lauren lives in Dallas, Texas. She enjoys reading, cooking, walking her dogs and fitness pursuits.

How do you define a good leader?

I am fortunate to work for a leadership team that encourages original thought and professional growth. Throughout my career, I have had the opportunity to experience management styles that brought out my best, as well as methods that challenged my confidence. These experiences have taught me about myself and the type of leader I hope to become. One of my current managers has taken the time to mentor me, understand my goals and provide opportunities for me to stretch my wings and fly. I know firsthand how much leadership matters, and so the question of how to define a leader is personal and meaningful to me.    

Leaders create an environment that encourages the team to succeed and also instill a sense of ownership within each individual. The best leaders do not demand excellence; they inspire it. Leaders cultivate awareness and practiced focus within themselves. They take the time to get into the right frame of mind prior to setting the tone for the team. They value introspection because they understand they will get back what they give. Lead from fear, and your team will give you avoidance and distrust. Lead from compassion, and both morale and productivity will surge. 

True leaders expect the best from themselves and their teams. They praise strengths and also communicate honest feedback when performance falls short. They understand every failure is a valuable learning experience and fresh starting point, and expecting perfection only leads to fear of mistakes and suppression of new ideas. Leaders listen with an open mind and fearlessly pursue change if it will lead to progress. They gladly play outside their comfort zone and provide opportunities for their teams to do the same since they know this is the way to expand skills and perspective. 

I’m writing this in June 2020 when the world is experiencing various stages of lockdown amidst the COVID-19 pandemic and confronting long unresolved questions around racial injustice in the wake of George Floyd’s death. Strong emotions in response to the call to re-examine racial equality compound anxieties around health and economic uncertainty. 

In this environment, teams look to their leaders more than ever. Great leaders rise to the occasion by bringing their whole selves to the dialogue around tough issues. To illustrate this point, I’ll share an example. A senior leader at Bank of America recently addressed the issue of racial inequality highlighted by current events. He opened by saying that, as a person, he has more to learn. He confessed that difficult conversations sometimes make him feel awkward. He let us know that he may not fully identify and understand, but he wants to listen so he can try. He was authentic and human and shared his whole self. In addition to speaking about race, he mentioned equality for the LGBTQ community and women and pledged to do his part to foster a culture that welcomes and respects everyone. He did not talk AT us. He empathized WITH us and set a tone of unity. His comments are evidence that the best leaders are not those who have all the answers but those who admit more work lies ahead and inspire us to rise to the challenge alongside them.

So, how do I define a leader? Someone who is present, focused, compassionate and honest. Someone who listens actively and openly, expects the best from themselves and others and stays curious and ready to learn, and who sets a tone that inspires individuals to take responsibility for adding value to the team as a whole.