WiAF Spotlight: Marcelle Newstadt
SG - July 28, 2021 - Featured Content Area
Marcelle Newstadt, COO: Vault Credit Corporation
What brought you to the asset-based finance and leasing industry?
I was introduced to the world of equipment financing in South Africa, when after qualifying as a teacher and teaching for several years, I decided I wanted to move into adult education. In seeking out roles in adult education, I found an opportunity at a bank focusing on training and development. The bank agreed to hire me despite having no experience in the industry on condition that I commit to learning their different financial products to be a trainer. I was initially mentored by a manager responsible for establishing joint venture companies with vendors, where the bank provided the funding to their customer base. On immigrating to Canada in 1993, I joined Municipal Leasing in a customer service role, where my career in leasing continued. As I built my career in this industry, I was fortunate to align myself with entrepreneurial mentors, where your hard work and commitment, not your gender, was the key consideration to one’s success.
What does it mean to be a leader and how do you lead others in your organization?
I have always believed that a leader carries an important responsibility within an organization, not only to focus on business strategies, but to mentor other colleagues. The role of a leader is to ensure, no matter how large the organization, the culture is built around core family values. Every member of the team should feel valued, be encouraged, empowered, and motivated to achieve both their personal and professional developmental goals. A leader should be constantly coaching others to be able to replace themself.
What is one positive or innovative idea you are currently working on in your position?
We recently initiated the establishment of one common universal lease contract that brokers can use for several funders, irrespective of which funder is financing the transaction. This creates greater efficiencies for both the broker and funder. We are continuing with this initiative to onboard more funders and to increase the number of common documents we can create and approve for universal use.
What do you like to do when you are not behind your desk?
I am currently enjoying the “exhausting” but wonderful experience of three grandchildren, and another on the way. Spending time with them is such a joy and I am so grateful for this blessing.