Anne Baye Ericksen

 

Careers in finance don't have to be all about the numbers

 

The banking industry has regained a firm foothold since the downturn in 2008, and not just in dollar figures. Over the past eight years, the mode and methods of conducting financial business, from small personal transactions to large corporate dealings, has morphed into a technology-driven experience. You can apply for home loans online without ever stepping into a neighborhood branch. You can deposit checks by snapping an image with a smartphone. International transactions travel the Internet in a matter of minutes versus overseas wires taking days.

 

These types of electronic activities have not only changed how individuals manage their money, but they’ve also created an interesting niche for tech professionals in the banking industry. There are also roles for managers, communications specialists, and a variety of other professionals as demonstrated by the following profiles.

 

ALLY FINANCIAL INC. REMAINS ON THE FOREFRONT

 

Ally Bank traces its roots back to the early days of automobile manufacturing. As soon as cars became affordable to the masses, dealerships popped up all over so would-be buyers could peruse the newest models. But first, the dealerships had to purchase the cars from the automakers, and that required large sums of money. GMAC, a division of GM, was found ed specifically to help dealers secure the necessary financing. Short ly thereafter, the company extended loan services to individuals. By 2001, it surpassed $1 trillion in loans for 150 million vehicles.

 

Then in 2009, the bank rebranded itself for a new age, and Ally Bank was introduced as an entirely online financial institution.

 

“The world is changing and we’re keeping up with it,” says Jennifer Rodriguez Charters, CIO of corporate technology for Ally Financial Inc. (www.ally.com). The parent company of Ally Bank, based in Detroit, continues to operate an automobile financing division, too.

 

As a computer science major in school, Rodriguez Charters didn’t really connect banking services with information technology. Like so many people, her interpretation of how banks function was a reflection of her parents’ experiences.

 

“My dad, who is from Puerto Rico, used to get dressed up, and still does, to go to the bank. He saw dressing up as being professional and as a way to get respect from the people who work at the bank. He saw that as an important symbol of making it in the United States,” Rodriguez Charters remembers.

 

But times change.

 

“Now people are using mobile devices and sitting in their pajamas doing banking,” she comments.

 

According to the American Bankers Association, one out of every seven Americans has deposited a check via a mobile device in the past 12 months. And of those, more than half have made mobile deposits at least once a month.

 

“People have access to their money in the palms of their hands, which is amazing and innovative,” says Rodriguez Charters.

 

Of course, with Ally being an online entity, technology plays a very important role in the company, and Rodriguez Charters is responsible for managing computer systems that support enterprise functions.

 

“We also operate systems that facilitate business. For example, we have systems that monitor transactions to identify fraudulent activity or money laundering. We’re making sure those are running properly to stop illegal activity,” she says.

 

Because the banking experience has become so technology oriented, the challenge for Rodriguez Charters and her team is to stay abreast of apps, software, and hardware coming out.

 

“It’s challenging to keep up with the changes that are happening so rapidly, and it’s complicated around cyber security. Not only is data readily available over the network, but also potentially creating more concern about more people getting access to customer data fraudulently. The technology fraudsters are using is constantly changing, too,” she says.

 

It’s this type of challenge, though, that Rodriguez Charters believes makes banking a positive environment for technology specialists.

 

“Financial services is a great breeding ground for technology and an area I recommend young professionals consider,” she states. “If you want to get into an area where technology is critical, you’ll have a hard time finding another industry that is as tech savvy as finance.”

 

ASSOCIATED BANC-CORP PROMOTES PROFESSIONAL GROWTH

 

Teresa Gutierrez had a pretty good idea of how her banking career would play out. She began as an underwriter and then moved into a management role. From there, she believed she’d transition into another leadership position that would further expand her financial expertise. And in a way that’s what transpired; however, Gutierrez didn’t anticipate she’d be writing press releases, too. Today, that’s a main component of her duties as director of investor relations for Associated Bank, headquartered in Green Bay, WI. Associated Banc-Corp (www.associatedbank.com) is a publicly traded bank holding company and parent of Associated Bank. It reports more than $21 billion in deposits and $19 billion in loans.

 

“It’s a very cool combination of finance, communication skills, and marketing elements to create analytical and investor presentations,” says Gutierrez of her job. “Four times a year, we report earnings. Immediately after, there’s an investor presentation when we meet with investors, potential investors, and the analyst community to report on why Associated is valuable to them.”

 

Although this position demands Gutierrez deploy a different skill set than what she’d been used to, she agreed to take the job based on a recommendation from a mentor. In fact, that’s why she joined Associated Banc-Corp.

 

“He brought me to Associated five years ago as a financial business partner,” she explains. “He’s one of those sponsors who recommends you even though you have not thought [about working in some areas]. This individual said, ‘Teresa would be great in investment relations.’”

 

Officially, Gutierrez accepted the directorship less than a year ago; however, in many ways she’s been preparing for it most of her life. Of course, she developed a financial acumen throughout school and her early career.

 

“You need to come in with a finance background. You have to understand the industry and what drives it,” she advises.

 

But Gutierrez also finds herself drawing from her long-held desire to learn.

 

“I’m a news junkie, but I’ve never been able to spend a ton of time researching markets. In this role, a good part of what I do is reading and researching. What’s great about this position is that there’s so much information,” says Gutierrez.

 

“Also, I’ve always liked writing, so crafting a story is my favorite part,” she adds. “A successful investor relations officer (IRO) should be a strong communicator (both verbal and written) and should be able to tap into his/her analytical and creative sides. Additionally, I think it’s important to be genuine. At Associated, we value transparency. This characteristic is especially important as an IRO.”

 

One aspect of the job Gutierrez doesn’t feel quite as comfortable with, at least not yet, is being a company spokesperson.

 

“Much of my career has been behind the scenes. I have not been in client or customer-facing positions, but this position is very visible,” she explains. “Being visible is challenging, but challenging is exciting.”

 

TCF FINANCIAL CORPORATION MELDS OLD & NEW

 

Last year was a record-breaking year for light vehicle sales, with more than 17.4 million units sold. According to Zacks.com, this was the sixth year of increasing car sales. And analysts anticipate this trend to continue through 2016, which means Flory Aparicio Hunsaker will have another busy year. The vice president for Southwest Region Sales at Gateway One Lending & Finance, a subsidiary of TCF National Bank and an indirect subsidiary of TCF Financial Corporation, oversees a team of auto loan specialists.

 

“I love that every day is different,” she says of this segment of the industry. “It’s interesting to say the least.”

 

TCF Financial Corporation (www.tcfbank.com), based in Wayzata, MN, reported $20.7 billion in total assets at the end of 2015. In addition to operating 375 branches, the company also has subsidiaries that carry out commercial leasing, commercial inventory finance, equipment finance, and of course, auto loans.

 

Aparicio Hunsaker has devoted her career to auto financing. On the encouragement of her brother, who was already employed in the industry, she accepted an entry level job handling cash deposits. From there, she promoted into a sales position working primarily with dealerships, and now serves in a leadership role where she helps the sales force meet both customer and company demands.

 

“A huge part of my day is problem solving,” she explains. “Auto loans happen very quickly. They’re usually completed in a couple of hours versus a month like real estate lending. With that quickness, problems can arise. Whomever is interested in pursuing a career in auto lending needs to be quick on their feet and find innovative solutions for customers and lenders.”

 

Part of that fast pace can be attributed to the influx of technology.

 

“The process of what we look at for auto loan decisions looks different today than in 1989 when I began,” says Aparicio Hunsaker. “We still look at stability and customers’ credit, but how we go about it is different. We have to brush up on technology all the time to remain competitive.”

 

But incorporating technology, such as online searches of a person’s financial history, brings with it a responsibility to protect that information.

 

“We are very mindful and do our due diligence,” says Aparicio Hunsaker. “We use technology to be quick, but we also have humans read every credit report and look for red flags. We have called consumers to let them know when something suspicious appeared. It’s exciting to be able to give people that alert.”

 

She adds that technical aptitude is a skill set she seeks in potential candidates, along with finance knowledge and communication abilities, including fluency in languages other than English.

 

“I’m of Cuban heritage, and I’m bilingual. Being bilingual is always important and it’s really helped my career, especially in the southwest region of Texas, New Mexico, Arizona, and California. We also have people here who speak Vietnamese and Chinese. You have to be able to communicate with consumers. If customers don’t speak English very well, they may be more comfortable communicating in their native languages,” says Aparicio Hunsaker.

 

Communication within the company is critical, too, and Aparicio Hunsaker is happy to report it's a highly regarded value at both Gateway One and its parent company TCF Financial.

 

“We have a voice and can share ideas. It doesn’t matter about what department you’re in or what level you’re at, you’re valued,” she explains.

 

SANTANDER US SETS SIGHTS ON CONTINUOUS IMPROVEMENT

 

“Change is good,” says Odette Rodriguez regarding her decision to move from Puerto Rico to Boston last May to assume a new job as senior communications manager at the corporate headquarters of Santander Holdings USA, Inc., a subsidiary of Banco Santander, a global retail and commercial financial institution. “The scope of my work has changed. The issues are broader and that’s good because I’m learning so much.”

 

Taking on bigger projects seems to be a pattern in her career. After completing three internships as a journalism student, Rodriguez went to work in radio news production. Then she broadened her experience as a member of the University of Puerto Rico Press. Being on both sides of the news—delivering it to listeners and sharing newsworthy information with media professionals—provided Rodriguez an ideal training to transition into the world of corporate communications when she was recruited to join Santander in Puerto Rico.

 

“I developed strong writing and editorial skills in the process, which helped me understand journalists better,” says Rodriguez.

 

And, her professional growth only accelerated once she entered the banking industry.

 

“They just kept trusting me with new responsibilities,” recalls Rodriguez. “I ended up being the head of corporate communications, marketing, and customer experience in Puerto Rico. Being able to balance responsibilities and manage my team while I dealt with meeting expectations and objectives was a real challenge.”

 

Apparently, though, it was a challenge Rodriguez handled expertly, because her productivity was noticed by executives in Santander US. Last year, the director of communications and corporate affairs at Santander US asked her to join the team of the holding company in a newly created senior communications manager position. Rodriguez recognized the opportunity as a chance to imprint the company’s future communications campaigns, both internally and externally.

 

“We have a number of businesses in the United States—consumer finances, retail banking, investment services, and private banking—and my role is to support the U.S. perspective in global communications. My role is to provide the framework and support for the communications strategy in the United States,” Rodriguez explains. “That role didn’t exist here before.”

 

On top of the professional challenges, Rodriguez enjoys the greater diversity she’s encountered in her roles with the international company.

 

“Diverse cultural knowledge is a valuable tool regardless of your background,” she states. “I’m pleased to be working with people from all over the world. Also, it’s enriching and rewarding to travel and participate in meetings where I contribute my local experience to a global communications team. I’ve been to Spain several times and to an event in Mexico. On those trips, I met with colleagues in similar positions and we exchanged best practices.”

 

While she’s enjoying her expanded role and accomplishing the team’s goals, such as launching the company’s new website, www.santanderus.com, Rodriguez remains open to what additional responsibilities may come her way.

 

“There are things to learn everywhere,” she offers.

 

SECURED FUNDS

 

According to the 2015 American Bankers Association (ABA) Deposit Account Fraud Survey Report, fraud against banks and people’s accounts continues at alarming rates. In 2014, fraudsters attempted to pilfer $13 billion, but thanks to more attention and expertise devoted to security measures, banks were able to protect nearly $11 billion from such criminal activity.

 

Still, there are steps individuals can take to protect their funds. ABA recommends customers adopt the following security-minded habits.

 

Don’t overshare

 

Never provide your Social Security number or account information to anyone soliciting online or over the phone. Also, do not share passwords and PINS.

 

Shred documents

 

Shred receipts, banks statements, and unused credit card offers before tossing in the trash.

 

Monitor accounts

 

Regularly check accounts online to monitor transactions. If you see questionable activities, notify your bank immediately. Also, sign up for text or email alerts for certain types of transactions, such as online purchases or transactions of more than $500.

 

Protect mobile devices

 

Take advantage of built-in protections on electronic devices, such as the pass code lock on a smartphone. This adds another layer of defense against thieves trying to access your information if a device is lost or stolen. Some software allows you to wipe your device remotely if it’s lost or stolen. Also, wipe it clean using specialized software or using the manufacturer’s recommended technique before donating, selling, or trading an electronic device.

 

Track incoming mail

 

Fraudsters look for monthly bank or credit card statements or other mail containing financial information. Consider enrolling in online banking to reduce the likelihood of paper statements being stolen.

 

Check credit reports

 

Order a free copy of your credit report every four months from one of the three credit reporting agencies at www.annualcreditreport.com.

 

Protect computer data

 

Keep the virus software on your computer up to date. Whenever conducting financial transactions online, always check the web browser bar for a padlock symbol or “https” to ensure the site utilizes security measures.

 

And as always, report suspected fraud to your bank immediately.