Leader Q&A: For David Andersen, your success is his success
David Andersen joined UMB Bank in February 2020 and has used his 11 years of experience in the banking industry as well as his positive attitude to help customers and UMB associates during these challenging times. Meet David and learn how he found his home at UMB.
Tell us a little about yourself and how you came to UMB.
I’ve had an interesting journey to get to UMB! I was raised in Anchorage, Alaska, and after high school moved to the “lower 48” where I completed a two-year service mission. During that two-year break from academics, I learned a lot about the value of service and the power it unleashes among many people. I still treasure the diverse cultures I served and the lessons they taught me. After that, I went to school at Brigham Young University – Idaho where I earned my bachelor’s degree in business management and finance.
My career started with Wells Fargo in 2009 at the height of the Great Recession. Some would consider 2009 not ideal for starting a banking career, but I found it to be the best time to learn the business. I spent the first 10 years of my career at Wells Fargo, where I started as a senior credit manager in Idaho Falls, Idaho, and worked my way up to business banking manager in Denver, Colorado. I did a brief stint at JPMorgan Chase as a vice president in middle market banking before I found my home at UMB earlier this year.
What do you most appreciate in your new role?
The people – bankers and customers. I believe when we have the best bankers, we have the best customers. Our customers’ businesses absolutely demand the best bankers we can offer, and I am committed to ensuring our customers have that experience.
Commercial banking is more than technology or lending; it’s people. Our customers have several options when it comes to who they consider trusting their business with. When a customer has a banker who can support them through all economic cycles, it’s an asset to their business and allows the customer to execute their business strategy with confidence.
What do you love about your job and the banking industry?
I’ve always believed our customers get the best service when we think more strategically and bring them new ideas that others aren’t. Over the years, I have developed a real passion for helping companies with their working capital needs and creating models that identify the appropriate mix of financial solutions to meet their working capital needs now and into the future. There are so many options they have – a bank, line of credit, investors, private equity, efficiencies in the cash conversion cycle – and I get excited helping them navigate what’s best for their unique business. I love the challenge of continuing to help a company that is in high-growth mode or figuring out how much liquidity they need as they continue to expand.
You joined UMB about six months ago, which turned out to be an interesting time in the world. How has your experience been so far?
Yes, I joined in February right before we started working remote in March. The truth is I have loved every day here, despite the challenging circumstances we are in with COVID-19. UMB provides our customers an unparalleled advantage during economic downturns. I could not have picked a better time to learn the heart of a bank than right now. I love where UMB is headed, the creativity and culture we have, and the growth we have yet to experience. Every person I have met here is down-to-earth, energetic and high performing. In my mind, UMB continues to still be a high-growth success story.
What drives you and what are you most passionate about?
There are a few big drivers in my life that I am passionate about – the ability to collaborate with clients, my family and academics.
On the client side, I am extremely passionate about proactively sharing ideas and working with clients toward success. I know it’s easy to say that, but it’s unique and almost abnormal to see bankers do that collectively with their clients. Remember, these are customers that have done extremely well with their business for decades, and they are now looking for partners who they can trust, collaborate with and proactively position themselves for the best future. We work with them to strategically do this and give direction or advice on how we can best help them.
My family is another huge motivator for me. I am a family man who enjoys the happiness that comes from my wife and kids. My wife and I are proud parents of two girls and three boys. If we are not at a basketball game, football game, ice skating practice, or snowboarding, we are enjoying time together playing board games or tackling the next school project. Outside of my family, I am very involved in my church and my community. I regularly volunteer with the Boy Scouts and recently the Jefferson County Economic Development Council.
Finally, I am an academics guy. Three years ago, I pursued a personal goal to get my master’s degree in business administration and finance from Colorado State University. It was the best decision I have made from an academic standpoint. It was something that I personally and professionally wanted to do, and my wife and I found a way to make it happen – while raising five children, working and keeping up with everyday life!
Tell us about one of your greatest professional successes.
I am passionate about proactively working side-by-side with our customers to help them win in today’s business environment. I believe who our customers choose to do business with matters, and as a banking leader, I take that responsibility personally.
When I think about professional successes, I first evaluate our customers’ experience. As we help them meet their financial goals, they are successful. It’s a symbiotic partnership. When our customers succeed, we succeed. When we provide a growing business a line of credit to support their working capital needs, that is success. The company uses our funds to keep liquidity on their balance sheet, which enables them to grow revenue, hire employees, invest in assets and support our economy.
When the 3 p.m. hunger hits, what is your go-to snack?
The answer to this question has really evolved. I often find myself realizing it is 3 p.m. and I should eat lunch. The Colorado food scene has a rich selection of options, and I am someone who loves to try new food. As for my sweet tooth, if I am around Swedish Fish candy, the box is never big enough.
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