Can you tell us more about your role, and how you found out about Siepe?
As a Director for the implementation team at Siepe, I am responsible for integration of new customers onto our platform. This involves ensuring that they have a seamless transition and can leverage our technologies effectively, without causing any unnecessary disruption to their operations.
I first heard about Siepe from professional connections, and I had been in talks with Michael Pusateri for a couple of years having first met at Highland Capital Management. I had also worked with Mark Schultis at IHS Markit. Their vision for Siepe and my past experiences with them made joining the team an exciting prospect.
Can you tell us about your background?
I started my career in the financial technology industry in 1994, well before some of the foundational structures like the LSTA were even established, with a company that eventually became Highland Capital Management. I led the operations team there, before moving on to a software company known for creating Wall Street Office (WSO), which was later acquired by JP Morgan. This transition marked my entry into JP Morgan FCS, focusing on software and adding SAAS (Software as a Service). Following that, my journey continued through several mergers and acquisitions, moving from JP Morgan to Markit and then to IHS Markit, which most recently merged into S&P Global.
Having been part of this evolving landscape for 27 years, I witnessed firsthand the shift from paper-driven and fax-oriented processes to the advanced technological frameworks we use today.
How do you ensure that your implementation strategies remain effective and ahead of the curve, especially given the rapid evolution of technology?
We continuously verify and reconcile data and leverage the latest technology to increase speed and accuracy. This allows us to maintain clean data in a relatively quick manner and measure our progress on a more frequent basis. The ability to adapt and integrate new technologies swiftly is crucial to both our team and ultimately our customers. Siepe is committed to using AI and other advanced technologies to stay ahead of the curve, ensuring our strategies not only meet current standards but set new benchmarks for efficiency and reliability.
What are some of the biggest challenges that the industry faces?
One of the biggest challenges in our industry, especially in the bank debt market, is the fear of change. Although there has been significant progress, the transition to shorten the T+ time for closing trades is a continuing challenge. Fund managers are constantly seeking effective ways of managing funds, such as warehousing and adapting to varied strategy timelines. These challenges are further compounded by the complexities of the T+7 settlement process. While improvements have been made, achieving alignment across the industry to establish a more efficient closing timeline remains an ongoing effort.
Is there an opportunity that you feel the business leaders in the credit space are missing out on?
Absolutely, there’s a significant opportunity to create a more connected and automated front-to-back asset management process. For instance, developing a borrower platform that allows for efficient communication with administrative agents could revolutionize data flow and streamline processes. This would enable more straight-through processing starting from the borrower still being monitored by the Administrative Agent, which could greatly enhance efficiency and accuracy across the board.
Do you have key goals for Siepe in 2025, and what are they?
One of my key goals for 2025 is to make the implementation process as smooth as possible and deliver a world-class customer experience. We are constantly looking for ways to improve our processes with new technology. I’m particularly focused on designing the best data flows and leveraging new technologies like AI to enhance our data reconciliation processes, increase our speed to onboard and improve overall accuracy.
What is the most valuable lesson you’ve learned over your career that you would pass on to others aspiring to lead in technology implementations?
The most valuable lesson I’ve learned is the importance of listening to the customer and reading between the lines to understand their needs fully. Effective communication with both the product and operations teams is essential to ensure everyone is aligned. This is key to a smooth implementation.
Can you share a fun fact?
I’m actually an avid volleyball player. I mostly play outdoors in the sand because it’s easier on your body, but recently I’ve been playing indoors as well. Our team “Classics” qualified for Senior Olympics Nationals in 2025, which will be held in Iowa. We finished 2nd in a tournament in New Mexico in July 2024 to qualify!
