Empowering Excellence: Debbie Shares Her Journey as a Female Executive in Finance
As we celebrate International Women's Month, we shine a spotlight on the remarkable journey of women leaders in finance. March provides an opportune moment to celebrate the achievements and resilience of women leaders across all sectors. Join us as we chat with Debbie Thomas, a dynamic executive at Accord Financial, shedding light on the challenges and triumphs of leadership in a traditionally male-dominated field.
What is your job description/ what do you do for Accord?
My title is VP Credit & Portfolio, which entails overseeing the credit and portfolio monitoring functions in Accord’s US Equipment Leasing business unit. Three underwriters and a Director of Risk report to me, which factors into my daily duties of workflow management, reviewing and approving credit requests, attending loan committee meetings, management reporting, ensuring timely responses to new transactions, assisting with end-of-term buy-out options, underwriting challenged credits and people management. I am also responsible for maintaining business unit Credit Standards, managing analytical subscriptions, attending customer conference calls, and suggesting lease structures that minimize the risk to Accord.
When did you enter the finance industry?
I started a career in finance in 1989 straight out of college working for a discount brokerage firm in downtown Detroit. After that I worked for a bank, where I completed a formal credit training program. Then I went on to work at a non-bank financial institution in the leasing division and have been in leasing ever since.
How has it changed since you first joined?
It has changed substantially! Primarily regulation and automation; there is much more government oversight, external audits and substantial penalties that can be assessed against financial companies that don’t follow compliance rules properly. There are also more creative loan products offered by financial institutions to borrowers. Lastly, the number of women working in the finance industry has increased.
What’s the hardest challenge of being a woman in a male-dominated field?
I have always enjoyed great relationships with the people that I work with, male and female. Navigating an industry traditionally dominated by males has been a learning experience over the years and one that I am grateful to have experienced. I think it has helped me to be creative, courageous, and in some cases, thickened my skin. Maintaining self-confidence is key, you know what you are made of you just need to always keep that in the forefront of your mind.
Do you think women nowadays still face barriers/challenges in men-dominated fields? If so, what do you think organizations can do to enhance their efforts in attracting women to these fields and help them thrive and succeed?
Yes, but to a lesser degree than in the past. A balanced work/home life is key to attracting and retaining talent, no matter if you are male or female. Allowing flexible work environments and enough personal time for employees can help achieve that.
As a woman in finance what are some of the ways you feel women impact the field in positive ways?
Creativity, ability to multi-task, different perspectives and compassion all come to mind.
What advice would you give your younger self just starting out in this industry?
You are one person and what you can accomplish is enough. It is not healthy or beneficial to anyone if you try to do more than you are capable of doing. It is OK to ask for help and to admit that you do not always have the answer. Trust in yourself.
What advice would you give to young women trying to break into Finance/Lending industry, especially in a male-dominated field?
Remember, nobody is perfect. Work hard, listen, pay attention, ask questions, and learn as much as you can. Do not allow anyone to treat you unfairly; if it happens once, it can happen again.
With heartfelt appreciation to Debbie for her time and wisdom, we draw this interview to a close, but the conversation on women’s leadership in finance continues. Accord is honored to show our commitment to creating a more equitable and inclusive environment for women in finance.