Justin Parker
“Getting Into the Weeds” to Achieve Success
Where did you attend college and what did you study?
I got my undergraduate degree at Clemson University majoring in finance and accounting. Then, I received my MBA with a focus on management and leadership at Queens University at the McColl School of Business.
What positions led you to RCN Capital?
Following my undergraduate time at Clemson I accepted a job at Ally Bank. The focus was within the Treasury Department, particularly within secured and unsecured funding. And really what that pertained to was managing our warehouse lines, our debt, and managing our securitization activity both on the secured and the unsecured front. It was a fantastic place to start my career and dip my toes in the water regarding financing, particularly within treasury. Most importantly, it was a way for me to start understanding the real world, and not just from an academic viewpoint.
Where did you go after cutting your teeth at Ally Bank?
My goal was to then take those experiences from Ally and apply them on a more granular level with a company that was newer to the space and start to help build something from the ground up. That’s when I made my transition from Ally to B2R Finance. My job at B2R was to come in and help solidify their securitization activity, which was a major focus for the company regarding what they were looking to achieve from a fiscal perspective, and then start to refine and grow the treasury and financial activities within the company. For me, it was a good way to go from what was well established in BS and ABS markets and bring that knowledge base into private mortgage lending which didn’t necessarily have the sophistication and the infrastructure at the time. So, it was a good way for me to step in and really start to have that level of impact. My goal was to continue to grow the company, continue to be ahead of the game in terms of the products we were offering, and be fiscally sound. Then, I met Jeff Tesch, which is ultimately what led me to RCN.
Tell us about your move to RCN?
I joined RCN in March of 2017 as a Vice President of Treasury and Capital Markets. Jeff had built a remarkable platform for private lending and a remarkable brand. That is what attracted me to RCN. And the goal was to blow this thing up and really expand our significance within the industry. So, the goal when I stepped in was to bring in new debt alternatives, new capital structures, new business models pertaining to how we’re funded, and to help scale the company. Jeff just kind of handed me the keys and said, “here’s what we got, go get it, I’m here to help, now make it happen.”
Two years later, I moved into a Senior Vice President role working remotely out of Charlotte while the company was still primarily focused in Connecticut. As we grew the team and our structure, Jeff entrusted me to start building out a team here in Charlotte. The private lending industry allows for flexibility and creativity which ultimately leads to growth. Growing the RCN team was such a unique and awesome thing for me to be able to do during my time here at the company.
Then in March of 2021 I was promoted to Chief Financial Officer. The company and Jeff really pushed me to achieve things that I quite frankly never thought possible. At RCN, what you put in is what you get out. If you walk in with a strong work ethic and are open-minded to new ideas and willing to listen, the company is set up in such a way where you can achieve things that you never thought possible.
When I first joined the company, we had roughly 40 employees and doing about $100 million a year. Fast forward five years and we’re at 220+ employees and doing over $100 million a month. It’s all based on the company culture, attitude, and the trust we have in each other.
Where do you see your future?
First off, RCN will grow into a household name in terms of private lending. When you think of banks, you think of Bank of America or Wells Fargo. When you think of private lending, you WILL think of RCN. What I really expect to see next year, three years, five years down the road is, as a company, we will continue to grow and take advantage of this devolving marketplace called private lending.
Personally, I don’t know if I have a great answer for this. I want to continue to grow and continue to evolve. And as the next year, three years, and five years progress, a lot of opportunities are going to present themselves for this market and for the company. I want to continue to grow my team and continue to put gas on the fire; take something that’s burning really well and just blow it out of the water. I’m a strong believer that “you don’t know what you don’t know,” and RCN is a great way for you to be able to learn and expand and discover.
Looking back at your journey now, is there anything that sticks out that has shaped your outlook on your business principles or philosophies?
One of the first things which I found to be so unique in my journey was when I started with Ally. Ally was a very well-established bank and a well-established corporate lending institution. You learn a lot about how these well-oiled machines operate, but you don’t necessarily get into the weeds. You understand the car runs, but you don’t understand what’s happening to make the car run. I learned a tremendous amount about successful treasury mechanics and what it means to have strong financial health, but most importantly, I learned about the weeds; understanding the goal and how to achieve it. At RCN, every employee understands the goals and how to make the pieces fit to achieve those goals.
