Director of Credit Services | Male | 59
Director of Credit Services is having trouble landing a new role after 20 years of loyalty
Disclaimer: For brevity and ease of read, some answers have been edited.
Snapshot
Job Title: Director of Credit Services
Industry, or desired industry if unemployed: Finance
Time in workforce: 25+
Age: 59
Company type, by FTE size: 8001+
Total compensation: 101k-150k
Location: North Carolina
Sex: M
Degree: BA Business Administration in Finance
Satisfaction with current role (1-5): 1
Satisfaction with overall career (1-5): 4
Exploring Career
What are your main responsibilities in your current role? Please list specific tasks in your day-to-day that you feel encompass the duty of your role.
I lead my team and oversee operations, strategies, and policies in the credit department to effectively manage credit risk and ensure the profitability of the credit portfolio.
What about your job do you enjoy the most? What could be improved about your job situation?
I enjoy the routine. I was with this company for 20 years, it's a short commute from my home, I'm respected among my colleagues and I live comfortably.
How much of required capabilities and skillsets in your role are coming from a formal education (your degree), certification, or apprenticeship (experience)?
At one point my degree was very useful, but at this stage in my career I would attribute my success to years of experience.
What made you pick this career -- did you have a specific career goal growing up, or did your career path develop over time?
I don't know that anyone grows up wanting to work in a bank; in my case it was just seeing my father work at a bank and then following in those footsteps.
Please describe how you got your job and what the process was like.
My current job was a connection from my previous job at a well-known financial institution. One of my colleagues was leaving because he got an opportunity to work at a bigger institution and he wanted me on his team so they took me too. The process was very seamless once I provided all the documents they needed and met with HR. From the time I put in my 2 weeks notice to the time I started, it was about 3 weeks if not less.
How long have you been working at your current company? Are you considering leaving? If yes, could you briefly share the main reason driving this decision?
20 years. I wasn't considering leaving but I did run into a problem that may have resulted in me leaving. During COVID my wife and I wanted to build our own home closer to the coast and my job had gone fully remote so we made plans to do it. Once the COVID restrictions died down though we were expected back in office at least 1x a week, which then became 3x and I couldn't go in to work living where I was moving to. I spoke with my boss and he was actually okay with me commuting 1x a week to keep my job. Unfortunately, the impact of COVID led to a reduction in force that affected me so I no longer work there.
Do you have mentors? If yes, how did you find them, and what impact have they had on your career? If no, how has the lack of mentors affected your career?
I did have a mentor. My boss at one of the first firms I worked at took me under his wing. He taught me to be bold in my decisions and to carry myself with the same confidence he did. His impact was direct, as he was the one who brought me with him to my new job, where I stayed for 20 years. He is retired now and his mind is not where it used to be, but he is someone I will always admire and be thankful for.
Getting Deeper
Share a career-related question you are currently or have struggled with. Make sure to give context!
As I mentioned, I was laid off after 20 years at the same company because of a big reduction in force. I've applied to many jobs, but I keep getting told I'm 'overqualified.' Should I just take something that's below my level or keep looking for a job that fits my experience?
What's the most impactful career advice you've ever received?
You are dispensable. I’ve heard it a million times over but I thought loyalty would show for something, now i’m learning this is true. Don’t sacrifice anything for a job. Spend time with your loved ones and doing things for yourself. You are dispensable to your company, no matter how much you think you matter.