Susan L. Hodges 2016-11-15 03:44:03
Get more from your membership: Volunteer
ASK SHERRY LOWE JOHNSON about volunteering with ELFA, and she’ll tell you flat-out that it has changed her life. Serving on three committees, writing on legal issues for EL&F magazine and having been a planner, speaker and attendee at the Legal Forum, Lowe Johnson says the association is one of the most instrumental organizations to which she belongs. “It’s terribly important to become involved in a group such as this,” says the member of Clark Hill PLC, a full-service commercial law firm with offices in a dozen cities, including Chicago, where she is based. “It provides an instrumental contribution to my practice and is extremely rewarding, including the personal development I receive from networking, collaboration and as a presenter.”
How does she find time for it? “It’s not as time-consuming as one might think,” she says. “If I’m speaking at an ELFA event, usually it’s on a topic that I litigate or see on a continuous basis, so my involvement is not unmanageable. Great organizational skills make it quite manageable.”
You really do get out of it what you put in.”– Brett Boehm, TBF Financial, LLC
If you are volunteering all year, so much the better, in Brett Boehm’s view. “The harder you work and the more lines you have in the pond, the more fish you’re going to catch,” says Boehm, Principal/ Director of Business Development for TBF Financial, LLC, in Deerfield, Ill., and a frequent ELFA volunteer. “The relationships, the new business opportunities, the friendships and the fun: It’s all-around a fulfilling experience when you’re giving your time. You really do get out of it what you put in.”
Those who don’t volunteer cite many reasons: the need for more time at work or with family or previous commitments to other organizations. But individuals who step up and pitch in at ELFA oft en find the rewards so valuable that they come back for more. And they say more volunteers are vital to making the association and equipment finance industry the absolute best they can be.
“This is leasing graduate school as far as I’m concerned!” – Joe Sebik, Siemens Financial Services, Inc
Influencing Outcomes
Joe Sebik has served on the association’s Accounting Committee since 2000. He also chairs the Federal Tax Committee, and before becoming involved with both he chaired his state CPA Society’s Committee on Leasing. “I was working with [longtime ELFA participant] Bill Bosco, and I saw through him that volunteering was good for the industry,” says Sebik, Director of Tax Reporting for Siemens Financial Services, Inc., in Iselin, N.J. “Besides, I like leasing; it’s a bit more fun than accounting, and I knew the way to continue that enjoyment was to be more involved with the industry.”
For Sebik, “fun” has included analyzing the effect of various tax-reform proposals put forth by Members of Congress. His work has helped ELFA’s Executive Committee better understand the effect tax-law changes would have on the cost of leasing and owning equipment, allowing the association to voice its concerns in Washington.
In the past Sebik also worked with the association on the consequences of limiting tax depreciation on leases to tax-exempt entities. As a result, the IRS inserted an exception in the tax code to protect such tax-exempt transactions, thus reducing the cost of leasing healthcare assets to many hospitals. “If more members volunteered, I think both our industry and our economy would be stronger,” says Sebik. “The stronger the leasing industry is, the better capital is efficiently allocated to companies, and that means providing financing at lower rates to make goods less expensive.”
“Whatever your niche, you can attend a conference on it and make connections.” – Jennifer Martin, Key Equipment Finance
Developing New Skills
Not all volunteer work changes history, but as Lowe Johnson alludes, the personal benefits can be significant. She came away from a Women in Leasing meeting with a new perspective that was pivotal to her career. “Learning from other women in the industry was huge,” she says. “It’s not so much that women do things differently, but you may get a different perspective on a myriad of topics related to practicing law and taking care of business when a woman attorney is part of the team.”
Jennifer Martin, Vice President, Vendor Program Development & Operational Controls at Key Equipment Finance in Albany, thought volunteering with ELFA would be a great way to expand her skills in public speaking and general leadership. “Having been with Key Equipment Finance for over 20 years, I don’t get a lot of opportunities in my own organization to speak to people I don’t know, and I had a real interest in building my public-speaking capability,” she says. “I felt volunteering for ELFA could help develop those skills and allow me to represent Key in a relevant way.”
Martin was right: Volunteering provided speaking opportunities, and she found them challenging. “When you put yourself out there at the industry level, it creates a whole new level of nervousness!” she says. Determined to do more, she volunteered to speak at the Operations & Technology Conference. That was three years ago. She has since facilitated numerous sessions and gained much confidence. Says Martin, “The last time I spoke to a big group, I was more relaxed and polished.”
In fact, she has developed an interactive style, walking around the room with a wireless mic to encourage audience participation. “My ability to bring the conversation to the audience has helped our planning committee understand what attendees value,” she says of the Ops & Tech Conference. “I’m hoping at some point, we can pivot some of that into the annual convention.”
Meanwhile, she’s focusing on building more traction around Women in Leasing. “A number of us are working to help the association understand more about what women in the industry are looking for,” she says. “We want to help create more quality events that will attract more women, since only about 10% of those who attend the annual convention are female.”
Growing Professionally
Gabriella Cafaro began volunteering because her CEO asked her to do so. “I was given the opportunity to attend Capitol Connections and I really enjoyed it,” says Cafaro, Transaction Manager, Marketing, for GSG Financial, LLC, in New York City. “We talked to Members of Congress and asked for more notice when new rules come out that affect our industry. I was still new to the industry myself, so I took a back seat and learned so much. I also began making my own connections with vendors, customers and people at other financing firms.”
Recently, when Cafaro was asked to join ELFA’s Communications Committee, she tapped another young professional from her company to attend Capitol Connections. “I’m steering her in the right direction so that two years from now, I hope she’ll take over,” Cafaro says. In the meantime, she’s learning how to use social media effectively on the Communications Committee to reach a professional audience. “It’s a learning approach, but I’m meeting more people in our industry, and we’re talking about ways to promote our industry,” she says.
Cafaro believes that for younger leasing professionals, there’s no better way to learn than through one’s peers. And the more she volunteers with ELFA, the more of them she meets.
“There’s no reason not to approach people in the association, because everyone is friendly and wants to network,” she says. “If you don’t volunteer and invest your time in the industry, you’re missing out. When you get involved, you make friends, can get advice and learn so much that there’s just no reason not to do it.”
“If you don’t volunteer and invest your time in the industry, you’re missing out.” – Gabriella Cafaro, GSG Financial, LLC
Taking the Leap
But not everyone’s an extrovert and joining a group of strangers at a cocktail party or a lunch table can sometimes be daunting. That’s why Lowe Johnson makes an effort to engage others at ELFA events. “It helps that some of us will go up to people standing alone to engage them in conversation, making them feel connected,” she says. “My hope is that the next time that person is in a room, he or she will share the benefits of reaching out to others to connect— and be proactive.”
Brett Boehm says it’s easy to start volunteering. He suggests speaking to someone you know who is already active or contacting ELFA directly. “The employees are fantastic; they’re educated and friendly; and they’ll get in touch quickly to help you,” he says. “And any volunteer can put together an email to someone they know on staff and ask for suggestions, ‘cc-ing’ the person who wants to get involved.”
Boehm counsels that once on a committee, you should become active and even aggressively helpful. Martin backs him up by noting that many committees need fresh blood and new ideas. “The association is based on the involvement of its members,” she emphasizes. “A lot is riding on the belief that we have an investment in events, that we’ll attend them and put the time in to talk about what’s important to us and communicate that back to the association. Without that, we’re all just siloed companies.”
Martin says that smaller conferences “are probably where it’s at” for those just starting out. “They’re not as expensive as larger meetings, and the topics are usually a bit more focused,” she says. “Whatever your niche, you can attend a conference on it and make connections. You may even be asked to speak or sit on a panel the next time.”
Joe Sebik has an additional suggestion.
“Look at your function in your company and locate the appropriate committee within ELFA,” he says. “Then contact someone on it. That’s how I got involved in the Financial Accounting Committee. You’ll meet enthusiastic people and enhance your career. Why wouldn’t you invest in your own career?”
Reaping Rewards
Because he has written numerous tax articles for EL&F magazine, Sebik now also writes for Bloomberg BNA, having authored a series of portfolios of technical pieces on accounting policies and practices and lessor economics, as well as a special report and an article on transitioning to the new lease-accounting standards.
Sebik has done many things in the leasing industry, in fact, and says volunteering not only opens new doors but bolsters his confidence. “Knowing that I could speak to people all over the industry when I had questions about it helped me be confident that I could do the work,” he says. “You meet so many people in so many markets that you can always call someone you know for information. I once worked on leasing a $250 million satellite and was able to find answers to those tough questions through my industry contacts, many of whom came from ELFA. Th is is leasing graduate school as far as I’m concerned!”
Brett Boehm also testifies as to the values of volunteering. He has been involved with ELFA for nearly 20 years and upped his voluntary efforts about six years ago. “At that time I took over new business development for my company, so I went in with guns blazing,” he says with a laugh. “I saw a lot of old friends and met new ones, and I networked and talked to a lot of people. They suggested I join the Credit & Collections Planning Committee, and I networked my way in. My first year on it was 2011, and they haven’t let me leave yet.”
Boehm also serves on the Membership Committee and has served on the Service Provider Business Council Steering Committee. He attends local and national networking events and has participated in Capitol Connections. “I’ve made so many great relationships with people I never would have met,” he reflects. “And many are in the same circles I am and are willing to go to bat for each other. We know each other well, and all of us are willing to help everyone else.”
For those who are still unsure about volunteering, Boehm says this: “I went to Capitol connections four or five years ago, and it wasn’t something I was looking forward to. But I looked at it as a networking event, and it was fantastic. You may not want to do something, and you may not do it unless you’re pushed. But opportunities come to those who go out and get them. And your company has invested in ELFA, so you owe it to yourself to get out there, attend events and make the most of them.”
Susan Hodges writes about equipment finance and other business topics from her office in Wilmette, Ill.
Looking to get involved with the association?
Here are a few ways to get started:
COMMITTEES: Invest in the future of the industry by serving on governing, policy and business-sector committees.
ADVOCACY: Participate in advocacy efforts at the federal and state levels (serve on a committee, attend Capitol Connections, host an in-district meeting with a Member of Congress, etc.).
EVENTS: Exchange ideas and best practices at business and professional development events. Whether you attend an event, submit a session proposal to speak or join a planning committee, there are numerous way to get involved.
RESEARCH: Take part in industry surveys and share feedback on the latest market statistics, trends and innovations (including the Survey of Equipment Finance Activity, Monthly Leasing and Finance Index, Equipment Leasing & Finance Compensation Study and Business Technology Performance Index).
INDUSTRY PROMOTION: Contribute to industry promotion efforts, such as presenting the Guest Lecture Program or contributing content to the Equipment Finance Advantage end-user website.
MEMBERSHIP: Help recruit and/or sponsor prospective members.
NETWORK: Interact and build relationships with other industry companies.
Q&A
EL&F magazine invited members to weigh in on the value of volunteering for ELFA. Here’s what a selection of members had to say:
What’s the value of serving on an event planning committee?
“I have had the pleasure of being engaged with the Credit and Collections Planning Committee for a number of years, including serving as Chairman. The experience has been nothing less than positive, rewarding and simply phenomenal! I have developed close professional (and personal) relationships over time with so many of my industry colleagues as a result of volunteering. The experience was invaluable to my professional career development. Now the best reason to volunteer is to give back to the industry that has given me such a successful career. And, by the way—it just feels right to do so!”
Kevin P. Prykull,
Senior Vice President & Credit
Underwriting Executive, PNC Equipment Finance
What’s the value of helping promote the equipment finance industry to external audiences?
“The ELFA Communications Committee works to help promote our industry to a range of external audiences. Whether a seller employs financing to boost sales or a buyer to support their capital plan, the end effects are profitability and organizational sustainability, which supports employment and a healthy economy. These benefits are meaningful and make it easier to promote our industry. We have a great story to tell. So to ensure our story gets heard, we must commit to creative storytelling to win our audience’s attention as well as repetition to drive memorability. I’m proud of the work our great committee does to help ELFA tell our industry’s story.”
Paul Carmedelle, Chair, Communications Committee, and Director of Marketing,
CIT Equipment Finance
What’s the value of presenting the Guest Lecture Program (GLP)?
“There is a tremendous amount of opportunity on multiple levels when you present the GLP program. It’s a chance to connect with the next generation of finance professionals while promoting the vast and diverse career opportunities within our industry. You will gain insight into some of the things these future leaders look for in an employer as they embark on their careers. Educating students on the size and scope of the $1.5 trillion equipment market and opening their eyes to both ELFA and your company has many long-lasting benefits.”
Mark Scardigli, First Vice President of Sales, Marlin Business Services Corp
What’s the value of participating in ELFA state advocacy efforts?
“Participating in ELFA state advocacy creates an intrinsic value that energizes us as an industry and as professionals. It’s a continuous challenge of time and effort. Yet there is no better way to join forces with other industry members and advocate change for the greater good. After serving on ELFA‘s State Government Relations Committee for 25- plus years, it is best summed up as ‘be involved and feel the worth.’ That best describes 25 years of unmeasurable experience from the many positive outcomes and the many terrific ELFA members that have become great friends as a result of getting involved and working together.”
Val Pfeiffer, Managing Principal & Founder,
The Tax Coefficient, LLC
What are the benefits of getting involved with ELFA early in your career?
“I volunteer because I believe success is a measure not of what we have gained, but what we have given. Getting involved with ELFA is a great way to invest in the prosperity of others—an endeavor I have found to be immensely fulfilling. As a bonus, volunteering has also allowed me to learn from and develop relationships with other professional colleagues, strategize with industry leaders and even shake hands with Members of Congress.”
Nathan Gibbons, CLFP, Vice President,
Learning & Development, First American Equipment Finance
What’s the value of hosting a Member of Congress at an indistrict meeting at your company?
“Hosting a Member of Congress at our office was a rewarding experience. It not only educates and connects our elected officials to their constituents but it also engages our employees and exposes them to the issues that are important to their company and our industry.”
Robert K. Moskovitz, Chief Financial Officer,
LEAF Commercial Capital, Inc.
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