Pictured above: Jeff Maland, chief risk officer, Signature Bank of Arkansas
Jeff Maland, chief risk officer at Signature Bank of Arkansas since 2016, never thought he would go into the banking industry. In fact, when he signed up for a job, he didn’t think he would be going to Signature Bank — the bank was yet to exist. Nevertheless, he has been a pillar of the financial institution since its earliest days by being willing to do whatever work needs doing.
A native of Harrison, Maland attended the University of Arkansas, where he played a year of baseball and graduated with a business degree. He wasn’t sure exactly what he wanted to do with the degree, but he did have a connection at Arvest Bank, where he hoped he might find a part-time job. That connection was Gary Head, who at the time was the CEO of Arvest. Head took his time in making an offer, and Maland soon found out why. Head left his position at Arvest in 2004 to start Signature Bank, and Maland followed.
“I don’t know if I was the first employee,” Maland said, “but I might have been the first one to get to work, because everyone else that was getting recruited had other jobs already and had to resign, and I was just there waiting to get to work. I got to be there on the ground floor, probably in a bunch of stuff that I had no business being involved with.”
Maland ended up serving as the bank’s compliance officer, ensuring that Signature followed all necessary consumer compliance regulations. Though not the kind of job most people dream of, Maland was willing to get it done. When someone was needed to fill the role of vice president for loan review and risk management in 2008, Maland once again stepped up to the plate.
Risk management has not always been an easy job in the years since Maland took it up; he has seen the country go through multiple economic cycles. While Signature Bank has had some difficult times, it staunchly remains afloat.
“I think back to when banking wasn’t as fun, around 2010,” Maland said. “There were lots of people struggling — good people. We made loans to people with great character, but if they don’t have the money then they can’t pay it, no matter how great their character is. So, we worked with people, took some lumps and got through some hard times. And to see people that came out of that on the other side and are doing great today, that’s a really rewarding thing. I look back at some of the metrics we had, the negative numbers, and it’s like, how did I sleep at night? But I was young, and I didn’t know any better, and there was work to be done.”
Signature Bank survived those days, as well as the pandemic and a more recent case of mistaken identity when a financial institution in New York also named Signature Bank went under. After years at the forefront of risk management, Malland has some advice for those in a similar position.
“Don’t jump to conclusions about what needs to be done immediately,” Malland said. “Step back and gather facts. You’ve got to be able to move quickly, but try to do it in a way that benefits the bank and the customer. I think too often people get emotional about things, maybe irrational, but [it’s important to be] able to calmly survey the situation, go through facts and take all the data you have and make the best decision available at that time. You’re not always going to be right, but I think that kind of analytical mindset really helps.”
He also offered advice that can apply to careers far beyond risk management or banking as a whole.
“When you see an opportunity for work to be done and there’s not necessarily a natural person to get it done, just take on the challenge and go do it,” Malland said. “Because not only will you learn from that experience, you’re going to gain the respect of others who see that you’re willing to work, willing to take on a challenge. And if you consistently do that, you’re going to look up one day and [find that] you’re pretty well-rounded and respected wherever you’re at.”
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