Sheri Thompson is the executive vice president and head of affordable housing at Walker & Dunlop (W&D), a leading commercial real estate finance and advisory firm.
In addition to overseeing all aspects of W&D’s affordable housing activities, she sits on the company’s executive, revenue, and strategy committees and is engaged with the firm’s social impact and legislative initiatives.
How did you get started in affordable housing?
I started my career as a Fannie Mae underwriter at Banc One Capital. We owned a syndicator, so we did a lot of affordable housing underwriting. This is where I began learning about the structuring and complexities in the affordable space. It became my passion.
What was a pivotal moment in your career?
When I took a leap of faith in myself by moving from credit roles (which I had for the first 18 years of my career) into operations and management. I didn’t have the exact experience path that leads to a chief operating officer position but was willing to pivot, which led to additional stretch/growth roles. Making that move taught me the important lesson of challenging myself and not being afraid to step outside of my comfort zone to take risks.
What skills have helped you most in your career?
· Honesty: Being willing to have hard conversations and to set the bar/hold people accountable;
· Operational and organizational management;
· Strategic thinking; and
· Relationship building.
What’s a leadership lesson you learned?
It’s OK to not know everything. It’s important to trust your team and delegate. You’ve got to own the mistakes that are made and support your team when they make theirs. Allowing them room to make their own mistakes enables them to learn and grow.
What is W&D’s affordable housing group working on this year?
Our mission is to be a trusted partner to clients in creating and preserving affordable housing through the delivery of integrated, comprehensive capital solutions and advisory services.
We are focused on providing a truly seamless experience to our clients by integrating our existing products and services with new and expanded products. In addition, we continue to take an active role in engaging with policy makers to both provide recommendations on new initiatives that would make an impact on the nation’s affordable housing crisis and ensure that federal programs supporting the financing and development of affordable housing are sustained.
What is your biggest challenge in maintaining personal well-being?
My new year’s resolution this year was to carve out time to do what I love both at work and in my personal life. The biggest challenge is finding the balance between work and life outside of work. I think the term work/life balance is a bit of a misnomer. Balance is different for everyone. It’s taken me years to not worry about what others think about my priorities and to embrace the fact that what works for me and my family is different than what works for others.
The lessons I learned that help guide me are 1) I ask for help when I need it. … I think it’s a strength not a weakness to be able to accept help from others; 2) I try to set boundaries and pass on opportunities that don’t either further my advancement or meet my personal goals and passions; and 3) I try to prioritize/adhere to “ground rules” for myself that fit my needs.
I’m still a work in progress on this front, but I’m trying to hold myself accountable ... so far so good this year!
Who inspires you?
There are so many that do, so it’s hard to pick just one. My husband has been my champion, my mentor, and my unofficial coach throughout my career. My daughter is the most tenacious person I know.
And my current leadership team. They each bring very unique skillsets to our team. They lean in and have embraced significant change and are willing to be vulnerable when necessary and lead by example. Plus, they put up with me and my crazy ideas.
What’s a hidden talent or something people may not know about you?
I love to take photographs. I truly enjoy creating something beautiful that I can look at and reflect on the time when I was in that moment.
Advice for others who want to move up to the next level in affordable housing:
Seek out those who are on the cutting edge and creative. Learn as much as you can because the markets and programs are ever changing—become a subject matter expert. And, if you already are a subject matter expert and looking to grow in your career, consider the management aspect of the business; there are a lot of rewarding opportunities out there!
