2014 Outstanding Women in Banking: Trish Ellison

As chief credit officer of Cedar Rapids Bank & Trust, Trish Ellison strives to make it easy for lenders to execute the bank's strategy, bringing it from the theoretical down to the practical. Her skills became crucial to the bank's survival during the Great Recession..Ellison is one of five women honored by NorthWestern Financial Review as a 2014 Outstanding Woman in Banking.."She has tooled and retooled our credit process. Her work helped us weather the crisis because we were up to date on monitoring the portfolios," said James Klein, senior vice president and chief lending officer of the Cedar Rapids, Iowa, bank.."I'd been through credit cycles before, but this was something different," Ellison said. "It was hard to come into work and have the right balance between taking care of our shareholders and having compassion for our borrowers.".An early exposure to lending helped give Ellison an integrated view of the bank's credit department. "When you're in credit, you have to remember what it's like to sit in front of a client, whether it's a good loan or a troubled loan."."It certainly gives me an understanding about why it's easy for a chief credit officer to fall into a sort of adversarial relationship with production," Ellison said. "A chief credit officer has no motivation to say anything but 'no.' You really have to be aware of that because obviously the bank can't not lend. That's the whole point of the bank.".Even after her transition into the chief credit officer role, Ellison kept a small portfolio of loans to help her stay in touch with the production side.."In the bank, we've embraced the idea that production and credit need to be aligned, not just functionally, but philosophically. You can't have one without the other, and I really try to get everybody to appreciate the big picture.".A natural tension should exist between credit and production because their primary goals are different, Ellison said. "My aim is not to make that tension go away but to have a healthy tension, because they balance each other out.".Ellison's background is itself a blend of credit and lending experience. She started as a credit analyst with some small business lending experience before moving to Des Moines-based Brenton Bank, where she cut her teeth on commercial lending. "I really think of it as my bank because I learned so much there," she said..Wells Fargo bought Brenton Banks in 2001 and Ellison remained on board for about six months. Out for lunch one day, Ellison ran into a former co-worker, now working for Cedar Rapids Bank & Trust, who brought her onto the Cedar Rapids team in 2003..Her strengths brought unmistakable value to the bank.."She's one of those rare people who has lots of credit knowledge, but balances it out with strong people skills," Klein said. "She taught me how to lend while still keeping an eye on quality. Now she's the chief credit officer, I'm the chief lending officer, and we're still working side by side.".Klein isn't the only person at the bank to benefit from Ellison's skills and coaching. Along with her work in the credit department, Ellison has participated in the bank's mentoring program, putting particular emphasis on helping the bank's young women.."It can be hard, being a woman in a leadership position. Sometimes, I'm the only woman in the leadership meetings. Or when I tell people I'm in banking, they assume I'm a teller," Ellison said. "But I don't want to make it a negative issue. For me it's more about helping the women who are coming into the industry to see their potential and what they can achieve.".Most recently, Ellison has started a women's group at the bank, with the goal of bringing awareness to some of these issues.."That's something I feel strongly about, being a woman in a leadership position: how can I have a positive impact on the young women and help them succeed in this industry? How can I help them empower themselves?"Other 2014 Outstanding Women in Banking honorees include:Jean Ann Honegger, Morton Community Bank, Morton, Ill.Debra Norstad, First Farmers & Merchants Bank, Cannon Falls, Minn.Sherry Lervik, State Bank of Bottineau, N.D.Annette Russell, Security Federal Savings Bank, Logansport, Ind.