Eileen Rose was recently named chief financial officer and chief operating officer for the Rhode Island Infrastructure Bank. She has more than 30 years of experience as a certified public accountant, certified internal auditor and expert in information technology. She previously served as chief financial officer for the Massachusetts Teachers Association and a Boston-based communications firm called The Hubbell Group. She has also worked in various roles for PricewaterhouseCoopers.
PBN: How does your experience in accounting and information technology inform your new role?
The Most Undervalued Asset in Business: The Right Connection
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ROSE: With over 30 years of experience in audit, accounting and IT implementations, I have a great appreciation for the importance of integration and handoffs in any workflow. Automated systems typically will improve workflow and allow staff to work smarter and more efficiently.
I enjoy working individually with staff to understand existing processes and then utilizing a change management mindset to challenge them to provide insight into opportunities for process improvements within the workflow. These brainstorming efforts can be rewarding for the entire staff when they see how individual ideas can be brought forward and blended into an integrated solution that benefits the organization as a whole.
PBN: What are your top three goals for your first year in this new role?
ROSE: Develop meaningful relationships with staff, clients and influencers in support of the overall mission of the infrastructure bank. Develop an in-depth knowledge of the infrastructure bank’s program offerings. Facilitate the ongoing digital transformation of accounting and operational processes.
PBN: How does the influx of federal funding to the infrastructure bank impact your job and the importance of accounting and operational management?
ROSE: Eligibility for federal funding is contingent upon program guidelines. Knowledge of the program guidelines is critical at all steps of the client experience from informational workshops, lead generation and application processing to credit reviews, loan agreement paperwork, disbursements and financial statement generation.
Throughout the organization, we focus on understanding the federal programs and the related guidelines so that we can develop and propose solutions for clients that are attainable within these guidelines. Our internal systems allow for proper tracking of transactions to ensure compliance with the federal guidelines that are evaluated annually and to provide transparency to clients and prospective clients on program activities.
PBN: What areas do you see room for improvement in for the infrastructure bank’s accounting and operations? What are its strengths?
ROSE: RIIB is a lead sponsor of a national user group for the operational software utilized by RIIB along with several other State Revolving Fund entities. This user group promotes best practices in the utilization of the software functionality and management of the loan and grant programs. Leveraging this software for process management purposes, RIIB prioritizes streamlining the customer experience, accurately accounting for transactions, and managing compliance with state and federal program standards.
As our internal practices evolve, we will remain focused on digital transformation, which will require robust updates to the documentation of our internal practices. These updates are aimed at improving time management, promoting cross training of current staff and supporting effective onboarding of new staff.
PBN: How has the pandemic changed the type of work you do or the way you work, if at all?
ROSE: The pandemic has emphasized for me the value of in-person interactions with co-workers and clients. While videoconferencing was a lifeline during the pandemic and did allow for a simulated level of human connection, in-person meetings and informal interactions with co-workers are critical to relationship building.
The three basic components of communication include the words we chose, how we say the words and our body language. On-screen meetings can negate the importance of these three integrated components, especially body language, so I make the effort to meet in person, when possible, given the importance of the human connection.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
