Kathleen Z. Lepak

Senior Vice President, Market Manager, People's United Business Capital

Biography:

Kate has been an asset-based lending professional for her entire 30+ year career, holding sales management and executive positions with Wells Fargo Business Credit, GE Capital and Citigroup, managing growth and transition in the ABL businesses of these Fortune 500 companies.  She currently serves as the ABL business director for People’s United Business Capital, managing the business, including the portfolio, underwriting, and sales teams.  Kate is responsible for growing the business in the Northeast, as an important component in the banks’ business strategy to grow its middle-market presence.  In addition to her business experience, Kate has participated in industry associations in leadership positions.  She held Board positions with the Turnaround Management Association and the Secured Finance Network, formerly Commercial Finance Association,.  Currently, Kate is a member of the Executive Committee at the SFNET.  She is a former chair of SFNET’s Women in Commercial Finance Committee and the current chair of the Committee’s Strategic Planning Subcommittee.

Kate holds a BA degree from the University of Connecticut and an MA degree from Trinity College in Hartford, CT.

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

Identify someone senior in the organization as a sponsor – an advocate for you within the organization who will guide you in your career choices and represent you well with others in the hierarchy.  This person should have a view to the quality of your work, your integrity and your commitment to the business.  Communicate frequently with your sponsor, ask for feedback and solicit projects that will accelerate your education in the business, as well as build your visibility with both your team and the business hierarchy.  Pay attention to the business results – ask your sponsor to share high level performance, and discuss general strategy.  Take the time to correlate activities in the business with success – this practice is invaluable in shaping your experience in identifying the factors that drive optimum performance.

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

Early on in my career, I did not pay much attention to the broader perspective of opportunity across the industry and, consequently, did not set a career strategy.  I wish I knew then that there are a myriad of paths you can take, and professionals in the industry to connect with.  I am very fortunate to have found, incidentally, the career path that was well-suited to me.  Maybe it’s luck, hard work, or a little of both. Our younger professionals have the benefit of a broader perspective.  The career preparation that occurs in the colleges and universities, along with the return of credit training programs in some institutions, provide a view to the market, a more detailed explanation of purpose of various financial services businesses, as well as connections to professionals in the industry to help those in the earlier stages of their career make strategic decisions in their career planning. 

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

Mentoring is very important as it relates to self-awareness and the development of strengths and skills required to advance in a career.  It provides an ongoing dialogue that helps to define a direction toward goals.  Sponsorship is different, but equally important, as a sponsor provides the visibility within the organization to showcase a person’s value to the business.  Mentoring is a long-term relationship of support and development; sponsorship is positive representation and advocacy toward career advancement.

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

We should focus on recruitment and credit training as an ongoing and very important part of staff development.  Be present on college/university campuses, build relationships with career development offices at these schools on a long-term basis.  Advocate for management and credit training programs within the institution that include rotations for well-rounded experience, as well as exposure to senior management.  Be aware of the market value of younger professionals and take care to keep pace with accelerated compensation as they grow into their roles and gain experience.  Provide mentoring, coaching and sponsorship to keep a clear view of career aspirations and expectations with your team members so that there is an open dialogue about meeting every need.