Spotlight: Chris Stevens of JPMorgan Chase

What is your current position at JPMorgan Chase? What inspired you to build a career in commercial banking? 

I am the Executive Director for JPMorgan Chase’s Commercial Bank in Providence, Rhode Island, supporting Middle Market companies throughout Southeastern New England. We provide clients a comprehensive range of financial solutions including treasury management, credit and international banking services.

I found my way to Commercial Banking somewhat by accident. I first started my career in Mutual Fund Accounting in Boston, MA. Within a few years, my division was sold to another firm and I was forced to explore new opportunities. There was an opening in Commercial Banking and I soon realized it was the perfect fit for me! I was inspired to build a career in Banking as it marries two of my passions: finance and entrepreneurism. I enjoy learning about different industries and providing the solutions necessary for owners to grow and thrive.

What does a typical workday look like (if any of us even have “typical” workdays anymore!)? Do you have a daily routine or ritual that you swear by / that helps you stay focused, especially during this time of global crisis? 

Unfortunately, there is no longer a “typical” workday. COVID-19 is affecting the way we all work and altering the way we live. Days now require a balance of childcare, early education for my two young sons, Board Service and my core Banking responsibilities. With that many areas of focus there is no more daily routine. I find that flexibility is the most important attribute!

Tell us more about your work at JPMorgan Chase. Why did the bank decide to enter the Rhode Island market? What opportunities do you believe are unique to this market? 

JPMorgan Chase officially entered the Rhode Island market in 2017, opening a small middle-market banking office in Providence. The opening was a key milestone providing us a local presence in all 50 metropolitan statistical areas – as defined by the U.S. Census Bureau based on population density – in the United States.

There are great companies in this state and we want to provide a local convenient experience for them as well as seamless connectivity to our firm’s extensive resources and people. We are committed to the state, hiring top talent and investing in the community. This is a 100-year journey and we want to bring value for the long-term.

The Middle Market team serves businesses with more than $20 million in annual revenue across various industries, including technology, life sciences and health care. The U.S. continues to be a leader in the innovation economies, and we are focused on serving companies in these sectors with in-depth knowledge of the complexities, challenges and opportunities that are unique to their businesses.

We have also expanded our physical footprint in the region. Last year we announced that Chase would open 12 retail bank branches in Greater Providence and throughout Rhode Island. By opening retail branches here, we are able to lend to more consumers, further invest in neighborhoods and offer good-paying jobs to current and prospective employees.

What is the most significant way that COVID-19 has affected your work at the bank? 

The global COVID-19 pandemic is being felt by communities, individuals and businesses everywhere. It is fueling economic uncertainty and presenting unique challenges for every industry. These difficult times have shaken industries to their core, testing their resiliency and forcing many leaders to act quickly to protect their businesses, oftentimes when they were unprepared to do so. We are particularly engaged with clients regarding their evolving treasury needs, as so many individuals are now working from home. As an example, clients that historically relied on paper-based methods to pay bills and send invoices needed to quickly implement an efficient and secure process for creating, approving and sending both electronic and paper payments.

I have also spent a significant amount of time administering new programs under the Coronavirus Aid, Relief and Economic Security (CARES) Act, specifically the Paycheck Protection Program (PPP) and Main Street Lending Program (MSLP). The CARES Act is a lifeline for many businesses in the midst of economic uncertainty. The legislation provides vital lending assistance to help businesses maintain their workforce and operations and manage ongoing needs.

Tell us about the ways you give of your time and talent to the community through volunteerism / Board service. What local causes are you most passionate about? 

I am currently a Trustee and the Treasurer for Providence Public Library (PPL). PPL is a wonderful organization where people can connect, experience, create and achieve. PPL is a 145-year-old nonprofit corporation providing free public library services through its rich and historic physical and digital collections, extensive information resources, thought-provoking exhibitions, impactful educational programs, and expert staff.

It has been an exciting time to be part of the library. We are completing the state’s largest-ever library renovation and cannot wait to welcome the community back into our space. The project has addressed required life safety systems upgrades, as well as major infrastructure improvements to PPL’s downtown buildings. The 83,000-square foot project has transform the Library’s 1950s wing, auditorium, and special collection areas to provide 21st-century library services for Providence and Rhode Island residents.

What 3 pieces of advice would you give to young professionals looking to start their careers in commercial banking?

Every October, I teach a “finance boot camp” class at the College of the Holy Cross, my alma mater. We end every session with top tips for young professionals. The first piece of advice I always try to instill is the importance of networking. Like many industries, relationships are critically important in Commercial Banking. Having a rolodex of partners and strategic advisors will better position any individual for long-term career success. It is never too early to start networking and organizations like FountainHead RI serve as wonderful connectors of people! Young professionals should leverage technology (e.g. LinkedIn) to identify existing industry professionals that can be a resource to identify current opportunities or provide mentorship. I also encourage individuals to read relevant industry articles such as The Wall Street Journal to keep updated on economic trends and concerns. Additionally, find ways to hone financial skills and illustrate interest in the field. Traditional education pathways such as Masters in Finance or MBA exist. Other areas could include Finance, Investment Clubs, etc. My final piece of advice is to be determined. I feel strongly that there is no substitute for hard work.

Do you have a favorite quote or mantra that inspires you?

In the near term, the world looks uncertain but I am confident we will persevere. Given all that is going no, I thought this quote was appropriate:

“Happiness can be found, even in the darkest of times, if one only remembers to turn on the light.” (J.K. Rowling, Harry Potter and the Prisoner of Azkaban)