Carol Anderson

Vice President, Portfolio
Management, U.S. Bank Asset Based Finance, 2017

How did receiving the SFNet 40 Under 40 Award help your career/visibility?

I’m so very appreciative of the visibility the award has provided.  Shortly after receiving the recognition, I received a call asking if I would be interested in being a panelist at the SFNet National Convention in Chicago along with three or four other 40 Under 40 recipients, sponsored by the  SFNet's Women in Secured Finance Committee.  I agreed and found it to be such a great opportunity to reach beyond my comfort zone, especially given we would each be speaking in front of and sharing ideas with the most senior leaders in the industry in attendance at the conference.  After overcoming my nerves, I was quite surprised at how much I really enjoyed being part of the panel.   More recently, I moderated a panel on inclusive leadership at our internal employee offsite.  Had I not had the positive experience of being a panelist with the SFNet, chances are I never would have volunteered to lead the panel at our offsite.  I can now say doing so is “within my comfort zone”!   

What changed for you professionally after receiving the Award? How do you think the Award helped your professional life, either directly or indirectly?  

While my day-to-day roles and responsibilities haven’t changed, the award has had a significant impact on how I view my current position and consider what’s next.  The award isn’t solely a recognition for past performance; rather, I believe it comes with the responsibility to work towards becoming an even stronger leader within the industry.  As a start, I’ve strived to push myself forward daily by sharing knowledge, taking on special projects, teaching and assisting others, volunteering, networking, and going the extra mile wherever I can.  While I’ve struggled in the past with my own internal (and perhaps self-limiting) challenges at times in terms of the strength it takes to be an impactful leader, the award re-set the bar and reminded me what I’m capable of.   

Did winning the Award encourage you to get involved in other professional organizations or groups outside or work? 
I attended the SFNet Women in Commercial Finance Conference in New York the morning of the 40 Under 40 Awards ceremony in 2017, and was inspired by the keynote speaker, Sallie Krawcheck, founder of Ellevest, Ellevate, and experienced Wall Street executive, to join Ellevate, a professional women’s network focused on leadership, development, and a commitment to helping each other succeed in our careers.  The network provides a wealth of support and career development opportunities both virtually and locally, which I’ve found to be an excellent complement to the leadership and development opportunities offered internally by my employer, as well as by the SFNet/ Secured Finance Network.  

What advice would you give to our 2020 40 Under 40 award recipients? 

Don’t feel like you need to follow the same path as someone else to get to where you want to be in your career.  Opportunities appear at different times for different people and comparing yourself to others is a waste of time and energy.  Some paths will be straight and predictable, others will be winding and unmarked.  Forge a path that makes sense for you and acknowledge that not every twist and turn will lead you to where you want to go.  Sometimes you’ll just need to take a step back and start over.  Other times, someone will suggest a path you thought would be out of your reach.  Try it.  See what happens.  

But, most importantly, remember to give thanks.  Thank everyone who has helped you along the way — your mentors, managers, teammates, family, and friends.  I’m thankful every day for those who have supported me.   

Stephen Beriau

Managing Director,
Encina Business Credit, 2018

How did receiving the SFNet 40 Under 40 Award help your career/visibility?

 The receipt of the Award coincided with my move into originations from underwriting and extended my name further into the industry. The Award also brought increased communication between myself and my existing network. It was great to hear from colleagues from throughout my career who were unaware of my role change. 

How do you think the Award helped your professional life? 

It has been very helpful on initial discussions with prospects. A good amount of CEOs/CFOs will complete initial research when receiving introductions or preparing for management meetings and have congratulated me or asked questions about our industry group. 

In your 2018 bio for 40 Under 40 you stressed the importance of active listening and note taking. How can recent grads become focused when they start a new job? 

College prepares students to take copious notes and focus on digesting the material through testing, but does not always give the necessary experience in application. Recent grads should continue to hone their note-taking skills but also work with manager and mentors to apply their knowledge across all facets of lending.   

How can young professionals seek out opportunities to build their recognition in this industry, whether they received a 40 Under 40 Award or not? 

Joining your local SFNet Chapter is important. I was not always a member during my years in credit and it made my move to originations require more leg work than if I had remained involved. 

Karen Marino

Vice President, North Mill
Capital, 2018

How did receiving the SFNet 40 Under 40 Award help your career/visibility?

I was very proud to be honored and recognized at the September 2018 40 Under 40 Awards ceremony. The SFNet is a huge part of the commercial finance world and to be recognized is a great honor. I received many well wishes from people, which has led to some friendships that I might not have otherwise made. In December of 2018, I was promoted to vice president and subsequently have changed roles and am a senior underwriter at North Mill Capital. Winning the Award allowed me to step out of my comfort zone and climb. 

Did winning the Award encourage you to get involved in other professional organizations or groups outside of work? 

I have always been very interested in volunteering, but winning the Award allowed me visibility and opportunity. It gave me access to people in my profession that were in my age group and people I can connect with. Prior to receiving this award, it was hard to find other young professionals to connect with. Being surrounded by people who also won the award gave me the confidence to get more involved with the SFNet, especially the National YoPro Committee. Since getting more involved, I’ve participated on the Newsletter Committee, the YoPro Leadership Summit Planning Committee, and I aspire to do more at the local level. 

What advice would you give to our upcoming 40 Under 40 Award recipients in 2020? 

Enjoy the recognition! Get to know your fellow award winners and stay connected. It can be a little intimidating, but do not let that get in your way. The award is a great icebreaker to connect with 39 other people who can be potential friends, contacts, referral sources, and future leaders of the industry. 

Nick Payne

Director, New Business Originations, Siena Lending Group, 2017

How did receiving the SFNet 40 Under 40 Award help your career/visibility?  

Winning this Award gave me a certain visibility that I would not have otherwise had. I found that especially useful in business development where so much of your success or failure is predicated upon first impressions. Having won the Award gave me both the confidence and credibility to approach potential deal sources and prospective borrowers that I may not have otherwise had. In doing so, it was a tool that helped open many doors that would have been closed.

In your 2017 TSL profile for 40 Under 40, you mentioned you are a mentor. How did you find it rewarding and how can people take ownership of their career professional development?  

I am all about paying it forward and really do enjoy mentoring younger people. I consider it a privilege to do so. If someone comes to you for advice when they could have come to however many others, that means that they’ve put stock (or trust) into what you have to say. That’s a responsibility that I don’t take for granted. 

How can young professionals seek out opportunities to build their recognition in this industry, whether they received a 40 Under 40 Award or not?

I would highly encourage them to get involved with their local SFNet Chapter and/or at the national level. Accountability is hard to gain without first having done something to prove that you’re accountable. Working alongside other professionals in your industry as a volunteer is one way to demonstrate that you can be counted on and thus gain favor (and consequently, recognition) in your ‘day-job’. Personally, that’s how I’ve tried to leverage my time on various committees, the executive team, and the board of the SFNet Midwest Chapter. 

What advice would you give to our upcoming 40 Under 40 award recipients?  

Enjoy the process and the experience. The SFNet has done an excellent job of making this recognition (and the event in New York) very special in a short timeframe. You should sit back and enjoy your accomplishments that got you to this point. Then, when it’s all over, get back to work. You are now a 40 Under 40 and, as such, your peers are going to expect you to perform at a high level now!

Yonatan S. Petel M.B. 

Associate/Partner, McMillan, 2018

How did receiving the SFNet 40 Under 40 Award help your career/visibility? 

Receiving the SFNet 40 Under 40 Award contributed greatly to my visibility in the industry and my professional reputation. While good work is often recognized by individual clients and through referrals, the Award represents recognition from the industry as a whole. It has provided me with an opportunity to better distinguish myself from others providing legal services in the same field. The profile in the special edition of The Secured Lender also provided me with an opportunity to build my profile across North America.

How do you think the Award helped your professional life?

I received many congratulatory messages from clients when I received the Award. It has reinforced the relationship of trust I have with clients I work with, who see it as external confirmation that they are in good hands when seeking my advice on matters of vital importance to their business. 

The connections I have made with other Award recipients have also been invaluable.  

In your 2018 TSL profile for 40 Under 40 you mentioned you are a mentor. Please explain more about that—how you find it rewarding and how people can take ownership of their professional development. 

Having benefitted myself from very strong mentors, I feel that it is my obligation to “pay it forward” and provide the same opportunity to others attempting to develop their legal careers. I find it fulfilling to be able to use my own experiences to benefit others. I believe that one of the most important things that a professional can do, at any stage of their career, is to identify mentors and champions who can provide them with opportunities to learn, grow and advance in their careers. 

How can young professionals seek out opportunities to build their recognition in this industry, whether they received a 40 Under 40 Award or not?

The best way to build a profile in the industry is to get out there and get involved. That can mean attending conferences and industry training sessions, or volunteering for a SFNet committee or another industry association or group. Too often, young professionals tend to keep their heads down and focus on their work. Professional performance is important in building your reputation, but there is no substitute for face-to-face interactions with others in the industry. 

What advice would you give to our upcoming 40 Under 40 award recipients in 2020?  

My advice would be to make the most of the experience by connecting with the other recipients. It is both humbling and motivating to be part of such an exceptional group of young professionals and being selected to receive the Award is not only a recognition of your contributions to the industry, but an opportunity to connect with some extremely impressive and talented people. Be sure to make the most of it. 

Azurdee Ramasar

Portfolio Manager, ENGS 
Commercial Capital, 2017

How did receiving the SFNet 40 Under 40 Award help your career/visibility?

I’ve been in this industry for over 10 years and, after having received the 40 Under 40 award, the question I get asked most often is, “Where have you been hiding?” The recognition from the SFNet provided me with a platform that I didn’t have before, to connect with so many individuals, both in the factoring space, and commercial finance in general. It’s been amazing to have a network of people you can reach out to, whether it be for deal opportunities, software and technology platforms, or even someone to grab lunch with when you’re in their city. For that, I am extremely grateful! 

How can young professionals seek out opportunities to build their recognition in this industry, whether they received a 40 Under 40 Award or not?

Young professionals in this industry have such a great opportunity in the form of social media. When used appropriately, you now have a way to broadcast all the great things going on within your company and career. You are now able to build your brand with the click of a button, to hundreds, if not thousands of individuals specifically in your industry. Don’t be scared about speaking to someone new, whether it’s at a conference or on LinkedIn. Chances are, they will be appreciative that you took the time to reach out. Additionally, use your industry resources. If you see an opportunity to write an article or a blog on a subject that speaks to your career, take it.  If there is a local networking event in your area, make every effort to attend. The opportunities are there, you just have to take them. 

What advice would you give to our 2020 40 Under 40 Award recipients? 

Soak it all in. Be proud of your work and your accomplishments. Use the platform as an opportunity to network. Meet lots of new people and shake a lot of hands. You’re truly surrounded by some of the brightest minds in the industry, so don’t take that for granted. Be confident that you belong there and let this recognition in your career be a boost for your upward growth. At times, we can be our own worst enemy. If we get out of our own way, we will realize that the sky is really the limit.

Jonathan Schalit

Senior Counsel, Wells Fargo, 2017

How did receiving the SFNet 40 Under 40 Award help your career/visibility? 

Receiving the Award had a definite impact on my ability to make a jump to an in-house position, which I had been interested in doing.  For me, there is no question that receiving the Award helped make my career and personal application much more visible.

Please update our readers on what you have been up to since receiving the Award? How has the transition been from moving into an in-house counsel role at Wells Fargo?  How does it differ from your prior role?

My focus has always been on providing the best quality legal service I can. I never have been interested in the business development side of the profession, in terms of getting clients, bringing in deals and generating business. I certainly cannot deny that has an integral role in the operations of and is the lifeblood of law firms. But for me I have always been more interested in providing the best service that I can to clients and getting to know more about their business. For me, making the move in-house has been a great change because it allows me to much more closely partner with a variety of people on the non-legal side in one single company. I get to work with people not just in credit and underwriting, but also risk, compliance and regulatory enforcement -- everyone across the enterprise all sharing a common goal, which is getting the bank to be the best financial institution it can be on a go-forward basis. It has been a great transition. 

What advice would you give to those just graduating law school now? 

The best thing they could do would be to determine where they want to end up and try to work backwards from there. If they are looking to make a jump in-house, and they are starting at a law firm, they should try to determine which partner or group of partners works with the clients that they would most be interested in ultimately working for, and try to align themselves with those partners and the work to start getting on the radar of those companies. If they are looking to remain at a law firm and make partner, I would say the best advice is try to really build a niche in an area of expertise as early as possible. I believe legal practice is only getting more specialized, even since I started practicing in 2007. At Wells Fargo, we will bring in a number of legal colleagues on any given matter, it can be five to ten depending on the issue and magnitude of it.  The earlier a graduate can develop a unique area of expertise and develop a personal brand, the better it will serve them throughout their career. 

What are some of those more specialized areas in law?

The derivatives field continues to be very active. Swaps and hedges are playing a larger role, especially as clients deal with increasing economic uncertainty driven by trade wars. If you have not worked in derivatives, you certainly want to rely on those who have. It is an area where it is really crucial to have team members with the necessary expertise. 

How can young professionals seek out opportunities to build their recognition in this industry, whether they received a 40 Under 40 Award or not?

Whatever you can do to have your name show up in a Google search of a particular legal issue is, I think, most helpful. If I am working on an issue that I have not seen before or that I know I am not an expert in, and we have decided to send the deal to outside counsel, or we just do not have internal expertise on the issue, I will often look on Google and see who wrote an article or law firm client alert on that issue, because in my mind it demonstrates that person has devoted a significant amount of time to a particular issue and should have some expertise in the area. 

What advice would you give to our 2020 40 Under 40 Award recipients? 

Keep an ear to the ground to figure out what direction your clients are heading in on the business side, whether it is a matter of adapting to changing customer demands or changing regulatory pressures, or just strategic initiatives to move in a different direction. Think outside the box and try to figure out where things are heading, and forecast how you can adapt your own legal skill set to be of service as things change in the new environment. TSL