Got Damn!!! Jrome got a promotion and is headed out west yall!

[Mac 10 †]

What did you study, what qualifications did u get to get to this point?

Or was it just all just hustle and grind to work ure way to the top?

I was a finance major in college.  I interned at this place after my junior year, and they offered me a position as an analyst as soon as I graduated.  They only offered me $29k to start which was less then what I got offered elsewhere, but I liked this organization because they are growing rapidly and there was real potential to move up.  But I definitely learned more in 6 months on this job than I did in 4 years of school.

Basically I identify loan risk on any commercial loans over $500k.  I busted my ass for two years and became our top performer.  We have quarterly performance goals which I love because I always work better with a definite goal in mind.  They then promoted me to Asst. VP where I no longer was an analyst, but a manager of our analysts - giving direction and philosophy, organizing work flow. 

Now I'm headed out west to be our lead analyst out there.  Much more exciting market - I'll work on projects in Phoenix, LA, Las Vegas, and other surrounding cities.  I'll be an analyst there for 2 years, while working closely with our top lender in the bank.  He's 64 and will be retiring.  His loan portfolio is approximately $200 million and I'm gonna do everything I can to get a chunk of that when I get promoted to a Commercial Lender.  That's what my ultimate goal is - basically all they do is schmooze and go out an look for potential loans.  Golf, lunches, drinks and bullshit.  No time in the office - they want us out and about bringing in new business.  It'll be the shit.

Sounds good.  You say you identify loan risks and they pay you a lot of money for it.  Does that mean you're facing the sack if you get it wrong?  Like trusting someone to pay back a loan then they don't.  Coz that would come down to you allowing them the money right?  Althought you say you are now managing other people doing that so does that makes their mistakes your mistakes?

[King Tech Quadafi]

props n good luck

[jeromechickenbone]

What did you study, what qualifications did u get to get to this point?

Or was it just all just hustle and grind to work ure way to the top?

I was a finance major in college.  I interned at this place after my junior year, and they offered me a position as an analyst as soon as I graduated.  They only offered me $29k to start which was less then what I got offered elsewhere, but I liked this organization because they are growing rapidly and there was real potential to move up.  But I definitely learned more in 6 months on this job than I did in 4 years of school.

Basically I identify loan risk on any commercial loans over $500k.  I busted my ass for two years and became our top performer.  We have quarterly performance goals which I love because I always work better with a definite goal in mind.  They then promoted me to Asst. VP where I no longer was an analyst, but a manager of our analysts - giving direction and philosophy, organizing work flow. 

Now I'm headed out west to be our lead analyst out there.  Much more exciting market - I'll work on projects in Phoenix, LA, Las Vegas, and other surrounding cities.  I'll be an analyst there for 2 years, while working closely with our top lender in the bank.  He's 64 and will be retiring.  His loan portfolio is approximately $200 million and I'm gonna do everything I can to get a chunk of that when I get promoted to a Commercial Lender.  That's what my ultimate goal is - basically all they do is schmooze and go out an look for potential loans.  Golf, lunches, drinks and bullshit.  No time in the office - they want us out and about bringing in new business.  It'll be the shit.

Sounds good.  You say you identify loan risks and they pay you a lot of money for it.  Does that mean you're facing the sack if you get it wrong?  Like trusting someone to pay back a loan then they don't.  Coz that would come down to you allowing them the money right?  Althought you say you are now managing other people doing that so does that makes their mistakes your mistakes?

Yeah but when I do my analysis, I'm outlining strengths and weaknesses.  Then I make a recommendation on if it's an acceptable risk or not.  After I'm done with my analysis, the loan is then presented to a committee which consist of our CEO, CFO, COO, an senior managment.  As a committee they ultimately decide if they want to do the loan.  My analysis is very in depth - usually about 20 pages deep.  Analyzing financial statements, individuals background, market history, industry, collateral, etc. etc.  By the time I'm done with all of that I'm usually very confident one way or another.  Our particular bank does very well in the way of loan losses.  Less than .01% of our entire loan portfolio (nearly $1 billion) ever actually goes into default.

As far as my staff's mistakes being mine, absolutely.  I have to go through each of their analyses and see if their logic, numbers, and conclusions seem reasonable.  There are times when I have to completely trash somebody's work and start from scratch and show them the proper way to look at the deal.  It requires a lot of patience and detail, but it's fun and very interesting to see what types of businesses are good and which are not.  Real estate develiopment and construction are my favorite, mostly because it's been booming here in the states for the past 5 years so its an exciting market.  However, in the last 9 months or so it's really slowed down, so we're extra conservative.

props n good luck

Thanks man