In a recent talk, Loretta, the Chief Financial Officer (CFO) of Pence Way School in Pennsylvania, shared her remarkable journey from a humble childhood to becoming a trailblazing leader in the finance world. Her story serves as an inspiring example of resilience, hard work, and belief in oneself.
Growing up as one of six children in a modest family, Loretta learned the value of hard work at an early age. Her parents, struggling to make ends meet, decided to buy land and open a farm. Loretta vividly recalls how the entire family worked together, giving up extracurricular activities and making sacrifices to achieve the shared goal. This early experience of teamwork and perseverance laid the foundation for her future career.
Interestingly, Loretta was the best salesperson in the family—something she didn’t realize would become a crucial skill in her later roles. While her siblings took care of the farm’s daily tasks, Loretta was out selling their produce, consistently returning with an empty basket while others struggled to sell.
These formative years, full of sacrifice and teamwork, deeply influenced her career trajectory. As she explained, the same principles that helped her family succeed on the farm now guide her in executive meetings and finance committees. Her ability to lead teams, inspire collaboration, and manage resources efficiently stems from the teamwork lessons she learned as a child.
After completing her undergraduate degree in accounting at Andrews University and her graduate studies at Oxford Brookes University, Loretta’s career took her across continents. Initially, she worked as a collections specialist in the UK, a role she found challenging due to a speech impediment. However, it was during this time that she became captivated by the discussions of executives and their strategies for steering the company forward.
Loretta’s big break came when she secured a senior accounting position at the BBC’s language unit, where she was thrown into the deep end, handling everything from accounts receivable to preparing financial statements. This role prepared her for the complexities of financial leadership and gave her the skills and confidence she needed to excel.
Despite her success, Loretta admits that the biggest challenge she faced on her path to becoming a CFO was believing in herself. She had never envisioned herself in such a high-ranking role, but a conversation with a friend changed that. Her friend, also a CFO, challenged her to overcome her fear and embrace her potential. Loretta reflected on that conversation for six months before finally deciding to pursue the position.
Now, as a successful CFO, Loretta’s advice to others is to “dream big” and surround yourself with people who believe in your potential. She emphasizes the importance of mentorship and is eager to offer guidance to those on a similar journey.
One of the most rewarding aspects of Loretta’s career has been witnessing the growth of her team and the transformation of her organization. From leading her team through rapid growth to instilling a culture of trust and transparency, Loretta takes pride in the positive changes she’s made in her workplace.
As a CFO, Loretta also values the importance of being a master storyteller—communicating complex financial data in a way that engages and reassures stakeholders. She underscores the need for collaboration with other departments to understand the drivers behind the data, helping her forecast future outcomes more accurately.
In conclusion, Loretta’s journey from a small farm to the boardroom is a testament to the power of hard work, resilience, and the courage to step into leadership roles. Her story encourages us all to push past fear, dream bigger, and always seek opportunities for growth—both in ourselves and those around us.
This inspiring talk reminds us that success is often a combination of our early experiences, the mentors who believe in us, and our own willingness to step outside our comfort zone to reach new heights.
