USAA Vice President of Consumer Finance mark pregmon I aim to lead my team with humility and a servant leadership mindset while striving to impart knowledge to my employees.
He said Pregmon has created a positive work environment that promotes a balance between work and family life. auto finance news. He said he aims to carry on his own leadership style and lessons learned from more than 30 years of experience.
“I'm going to give back what I've received throughout my career,” he said. “It's your legacy, and you want to leave a good legacy.”
Mr. Pregmon has held his current position at USAA since August 2019. He is responsible for underwriting, servicing and default management of consumer financial products. linkedin. Prior to USAA, Pregmon held the position of Executive Vice President at USAA. PNC and suntrust bank.
Pregmont previously said USAA recorded about a 15% year-over-year increase in vehicle production in 2023. AFN. According to some information, USAA's auto balance was $18.4 billion as of June 30, 2023, an increase of 16.4% from the previous year. moodyPre-sale report of 2023 auto asset-backed securitization transactions by financiers.
AFNWe spoke with Pregmon about his career, approach to leadership, and thoughts on trends in the auto finance industry. Below is an edited version of the conversation.
auto finance news: Please describe USAA's corporate goals in 10 words or less.
mark pregmon: Improve the member experience for members to sell USAA reviews.
AFN: What do you think is the most undervalued lending trend?
MP: In the industry, I think of it as the buy now, pay later (BNPL) of retail shopping. BNPL is trying to figure out what the impact will be on consumers. It turns out that a consumer operates many of his BNPL trading lines that are not registered with credit bureaus. Calculating the debt ratio does not reveal the true amount of consumer outflow. A consumer would buy two Peloton bikes and pay $36 a month, but I don't understand that.
I say BNPL is undervalued because it's new and worth watching. Lenders need to ask themselves questions. How does BNPL affect consumers and their debt burdens during an economic downturn? As BNPL accumulates, how does it affect people who finance cars? The industry should track it. We are working on this.
AFN: What is your favorite piece of leadership advice you have ever received?
MP: Have humble and servant leadership. That's the truth. Don't ask your employees to do something you can't or won't do yourself. You can also lead from the front. I learned that both of these things can be applied at home and at work.
AFN: Who has had the biggest influence on your career?
MP: I have had the blessings of several mentors, whether I worked for them or whether they were in the industry. There are too many to list, but mentorship is something you must seek and desire. You can't force a reluctant mentoring relationship. You have to have good chemistry. I was lucky to be able to do that early and late in my career.
I found myself teaching after more than 30 years. USAA currently has four leaders that I am coaching.
AFN: What would your employees be surprised to know about you?
MP: I was doing a car repo. In the good old days, I started as an insurance broker and then moved into collections. This was before banks outsourced and we were knocking on doors to collect payments and repos.
— Additional reporting by Amanda Harris
