BUSINE$$ MINDS Season 1 WEEK 16 - The IMPACT of LUCK on a CAREER

1.???? Jeff Kellogg – 富国银行

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Initially while in college, Jeff went down the hospitality track, but quickly realized that it was not the field for him, “I realized that I enjoy staying in hotels much more than trying to run a hotel”, Jeff remarked. From then on, he strived for a dual degree in finance and accounting from 美国佛罗里达国际大学 . Many often told Jeff that college was supposed to be the best time of his life and that is why he got involved in social Greek life. However, he soon realized that “I needed to think well ahead about what I wanted to do”, Jeff added. That is why he joined Beta Alpha Psi International (BAP) – a nationally recognized finance and accounting business fraternity. Before long, Jeff became president and was meeting with several top-end employers such as 美国银行 , 德勤 , and 普华永道 to name a few. Via these connections, he landed a job at Bank of America in a two-year rotational program.

??????????? “I spent the majority of my time networking to work towards establishing connections. I did this simply through talking over morning coffee”, Jeff remembered. His networking paid off when a friend tapped him on the shoulder about a position they believed would be a great fit. “For anyone who is looking for something new, join a team that didn’t exist before. It proves what sort of growth you can have when building something from scratch”, Jeff imparted. That is exactly what he did. Jeff helped start what was known as the Derivative Center of Excellence. This group focused on regulatory and U.S. Securities and Exchange Commission reports which required significant analysis to ensure report requirements were met and any necessary data enhancements accommodated within the team’s reporting platform. After growing the group from three to nearly fifteen individuals, Jeff decided to move in a different direction.

??????????? Now, Jeff’s current team focuses on capital management, more specifically, understanding the risk that exists in the capital framework of Wells Fargo through the annual stress test. His team focuses on stressing the balance sheet and income statement to see what effects adverse events will have on the capital adequacy of the bank. For example, when Russia invaded Ukraine Jeff and his team assessed the event to understand what effect they would have. “It’s really an endless supply of what ifs, but that is what makes it fun”, Jeff shared. When reflecting on his robust career thus far, he believes individuals should not jump on the first opportunity that comes their way. “Don’t just jump in because of the ’newness’ but take a step back and ask yourself if it aligns with your future goals and priorities”, Jeff pointed out. Jeff went on to explain how there are a plethora of opportunities within the finance industry making it that much more important to do the necessary due diligence when assessing a new opportunity. Not to mention, Jeff harped on the importance of a solid team.

??????????? March and April are the busiest time for Jeff as he is finalizing and submitting his reports to senior management to use for decision-making. Jeff notes that he thoroughly enjoys the team he works with because they understand the importance of balance between hard work, and sharing hearty moments. “The way with which people communicate is just as important as the information that is being shared”, Jeff punctuated. That is why Jeff encourages the saying ‘I don’t know’ because it mitigates the degree of mistakes or errors that are attached. Jeff’s parting words were “my entire career up to this point has been built off connections I have made with others. That is why the connections you make are so meaningful as you navigate finance”.

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2.???? Paul Natalizio - Cornerstone Realty Consultants

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Mr. Natalizio attended Babson College and, “knew I wanted to be in business, but I wasn’t sure what specifically.” That was when he decided to try and get a start in one of the banking training programs in New York City. During Mr. Natalizio’s post-graduate years, the large national banks had commercial lending training programs that were heavily sought after and well respected. Mr. Natalizio recalls sending in letters to many different banks in New York City and only receiving two (2) call-back interviews with firms he had a connection with. When entering the interview many recruiters asked him ‘What’s a Babson?’. As it was difficult to gain traction in the big city, Mr. Natalizio started to caddy on Long Island while he continued his job search.

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One day, walking down 5th Avenue, he noticed an old friend of his having lunch on the steps of St. Patrick’s Cathedral. Once they got to talking, the friend stated that he worked for National Westminster Bank (NatWest) – a highly respected firm at the time. From there, Mr. Natalizio interviewed with NatWest and landed himself in their training program. Mr. Natalizio shared “It’s really important to be lucky”. The training program consisted of education from professors and rotational work throughout the bank that was mainly associated with corporate clients with sales between $10M to $100M. That training program allowed him to land a position as a full-time C&I lender.

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Due to his affinity for Boston, Mr. Natalizio left New York and joined the @Bank of New England South whose niche was real estate lending. This ignited his true passion. Mr. Natalizio worked at several New England based banks, absorbing as much as he could about the business and networking with bankers and real estate professionals. Luck struck again in that he ended up working for smart and ethical managers who mentored him as he rose through the management ranks.

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“Relationships develop”, Mr. Natalizio pointed out – “many of my clients stuck with me when I would move to a new bank. I was building a personal brand that would continue to grow during my entire career”. After garnering over twenty (20) years of experience, including some years with the Mount Vernon Company , Mr. Natalizio embarked on his own endeavors by starting his own commercial real estate mortgage brokerage firm. “I initially thought it was going to be strictly a consulting firm, but we moved fast into mortgage lending”, Mr. Natalizio shared. Just like before, Mr. Natalizio’s clients followed him and allowed him to grow his firm into one of the largest private commercial mortgage brokerage firms in New England. “At Cornerstone, we built an ecosystem”. In this sense, Mr. Natalizio creates opportunities for clients to get to know one another on a business and personal level. ?“Now I understand mortgage lenders all sell something similar, but if I’m adding value to through this ecosystem, that goes a long way for the customer-client relationship – always try to add value”, Mr. Natalizio noted.

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Firsthand knowledge is also important. He recalls that after purchasing his first apartment complex, Mr. Natalizio “took off my suit and threw on my jeans before heading over and fixing the toilets etc.” He followed this statement by sharing, “You can read all the books you want but you won’t fully understand what it means to carry out that action without doing so firsthand.”

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When getting into the business world, Mr. Natalizio encouraged me to roll up my sleeves and get my hands dirty. He ended, “Be a sponge and ask lots of questions, attend industry meetings to meet others and build an industry network, and volunteer for the difficult projects at work”. ?

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