At Berkadia, our success is built upon the talent and hard work of a broad, diversely skilled team. From analysts to loan closing specialists to managing directors, each of our people brings a unique background, perspective, and expertise. Their work allows Berkadia to remain a leader in the commercial real estate industry.
Today, we’re shining the spotlight on Innovation VP – Product Management, Jeffrey McGinley, to learn more about his role at Berkadia, the advice he would give his younger self, and how Berkadia has helped to advance his professional career.
Describe your role at Berkadia.
In simplest terms, I am a thought partner and liaison between Servicing and Innovation, making sure everyone is bought into a shared plan around Servicing-oriented technology initiatives.
The key responsibilities of my role include identifying technology initiatives that best support Servicing’s strategic objectives, ensuring these initiatives are fully coordinated across all levels of the organization from business and technology leadership to those involved in delivering results, and leading and developing our Product Management team that executes on Servicing initiatives.
What part of your role are you most passionate about?
Personally and professionally, I really enjoy seeing things move from idea to reality, what was once words on a whiteboard brought to life. Within that end-to-end journey, I particularly like the point where we start to build it.
Getting everyone together with a high-level vision, figuring out the “how,” and seeing these initiatives get off the ground as the team’s understanding grows and the solution takes shape; that’s a very collaborative and exciting time.
What excites you most about commercial real estate?
The way technology has shifted from being viewed as an expense to a strategic enabler. In recent years, Berkadia has invested a lot into reshaping our approach to technology, addressing technical debt and taking the long view of how tech will enable Berkadia to scale. The established CRE institutions suffer a similar pain point with scattered legacy solutions and in this there is real opportunity to gain advantage against those who are slow to make this shift.
What advice would you give to a younger version of yourself coming into the commercial real estate industry and what is the best piece of advice you have received?
I would give two pieces of advice that apply inside and outside of work: first, is that no one has all the answers and it’s okay if you don’t either. In my 28 years here, I’ve yet to meet a person who knows it all. CRE is complicated, agreements and contracts have all sorts of nuance, and a lot of things are specialized which inherently leads to silos of expert knowledge. Your best play is to recognize and acknowledge that and to figure out who you need to talk to; this not only helps you to learn but also to build relationships and gain buy-in.
Second, is to be kind and have integrity. Work and challenges come and go in an endless cycle. Having relationships built on good values will help to overcome the next thing. How you work together matters.
When you’re not helping Berkadia move the industry forward, how do you spend your time?
My awesome wife runs her own small residential real estate business and does a number of fundraisers throughout the year to support local animal rescues. Oftentimes I provide advisory and/or hands-on support to both of these; everything from business strategy to sweeping parking lots. One of the best perks of this is getting to snug some furry friends at fundraising events!
Otherwise, I’m a homebody. I like hanging out on the couch with my wife and pets, tinkering and making things, and enjoy a good home project.
How has your time at Berkadia helped to accelerate your personal and professional development?
Berkadia and its predecessor companies have been my professional development! I’ve spent my entire career here. I completed my college degree while working here (thanks to the tuition reimbursement program!) and have been fortunate to take on new growth opportunities every few years, holding a variety of roles across Servicing and Innovation.
Along the way, I’ve benefited from mentors who’ve shaped my perspective, and I credit this company with enabling the career and life I’ve built; when I look at where I am today, I’m deeply appreciative that it’s all been made possible through my work here.