Senior Vice President
U.S. Bank Asset Based Finance
Beginning her career in public accounting and auditing, Melanie McAllister found her way to the specialty finance industry through a field examiner position with a bank. She then progressed through positions in portfolio management and underwriting, and, in 2002, she joined U.S. Bank.
McAllister has utilized her perseverance to overcome challenges in the specialty finance industry, which has long been dominated by men, particularly in the mid-1990s, when there were few women at industry events and companies. McAllister says that she doubted her abilities at the time but continued to forge her own path and devote time to learning various facets of ABL, such as field exams, portfolio management and underwriting. This knowledge propelled her further in the industry and still serves her today.
When McAllister started in originations with U.S. Bank, the asset-based lending division had a small market share in the industry, which she helped to expand and evolve. McAllister says this was possible because the company took a strategy of buying small participations and then growing through “upsizing and up-tiering to more significant roles.” Today, McAllister notes, U.S. Bank is a top-five bookrunner, and retail — McAllister’s specialty — is U.S. Bank Asset Based Finance’s largest industry concentration.
McAllister has learned many lessons during her career, one of the most important being that there is more than one path to success. “You can be a ‘career contrarian’ and get where you want to be via an alternate, unconventional route,” McAllister says. She also places emphasis on the importance of collaboration in the fast-paced and dynamic work environment of ABL, noting that it is crucial to work efficiently with colleagues to ensure smooth and effective transitions.
In the near future, McAllister will continue to place her focus on mindfulness, learning new skills and staying up-to-date on industry trends.
