Focus on development through company networking
By PAULA PARISOT
5/31/2005

A senior executive at New Century, who has managed to balance her career with her family, wants to help other women ascend to executive offices at the subprime lender and has done something about it.

Irvine, Calif.-based New Century Financial Corp.'s Chief Financial Officer Patti Dodge has inspired the company to form a seven-woman steering committee to design an executive training program, according to Erin Freeman, VP Corporate Communications and steering committee member.

Dodge, 44, who reportedly holds a Bachelor of Science degree in Business Administration, began her career at New Century in 1996 as a part-time controller and was promoted to an executive position three years ago.

"She began when her children were really young," Freeman explained. "The company was always supportive of her work/ family balance."

The National Investor Relations Institute and the University of California, Irvine Extension, awarded Dodge the second annual Orange County CFO of the Year Award in September 2004.

Dodge's desire to help other women excel within the company began with quarterly meetings of the "New Century Women's Forum," Freeman said, to discuss how to better prepare female associates for executive roles at New Century.

"The purpose (of the meetings) was to give senior leaders an opportunity to network and develop working relationships," Freeman explained. "It evolved into an initiative for the organization; whereby we wanted to reach out and help other women develop leadership skills."

Freeman said at present there are no definitive training programs in place but the company hopes to utilize both internal and external resources to educate and inform selected candidates in the areas of leadership and diversity. The topics, she said, would include analyzing financial documents, sharpening presentation and communications skills, and handling negotiations.

"We have begun to develop the curriculum, and criteria of how to evaluate and select the candidates," Freeman said of the company's pilot program. "Each candidate who goes through the program will receive a mentor, as well."

Freeman added that the program would have a 6-month timeframe and could potentially be geared toward any employee at New Century regardless of gender.

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