With the retirement of CEO Curt Culver earlier this year, Pat Sinks assumed the CEO position at MGIC. Sinks and his leadership team are positioning the company for success in the ever-evolving residential housing finance system. Here, three freshly appointed team members describe what’s new (and old) at MGIC and why they believe they will continue to provide value to their customers.
HOME-GROWN, GRASS-ROOTS LEADERSHIP
Fished from a pool of secretarial talent in high school, Margaret Crowley started working at MGIC in 1982 when she was only 17 years old. With designs on being a professional secretary, Crowley, now vice president-marketing and customer experience, began her career in the legal department. “I could type 95 words a minute and take shorthand at 200 words a minute,” Crowley said.
Since then, “I’ve been in many different departments, in many different positions — and I’m not alone in that. That opportunity to gather experience in different areas of the company creates a well-rounded, knowledgeable team,” she said.
Senior Vice President-Business Strategy and Operations Sal Miosi was a college junior when he came to MGIC. “I was unloading boxes at UPS. I knew that job was exactly what I didn’t want to do for the rest of my life. I took a job in Data Services and a $3-an-hour pay cut, which my dad just couldn’t understand,” he said.
Miosi’s knowledge of PCs, databases and Lotus 1-2-3 were somewhat unique in 1988 and ultimately put his career on an IT-heavy track, but one that touched on the company’s core business areas, including sales, underwriting, risk and loss mitigation.
“This is a great place to model the good examples of others, to work hard and be rewarded for that hard work in an environment that makes you want to stay,” Miosi said.
Before joining MGIC in 1987, Jay Hughes, senior vice president-sales and business development, worked for a financial planning company. “I enjoyed the industry, but felt a little odd about planning people’s financial future when I was driving my parents’ car and living at home,” he said. Hughes jumped on an opportunity to become an MGIC account executive in the D.C. area. He got the job — along with a car and his own place to live.
“Nearly all of MGIC’s leadership team are home-grown,” he said. “That’s not to say that we don’t reach out when we see talent matched with opportunity. We’ve added three officers from outside of MGIC in the past year,” he said.
DOING THE RIGHT THING
Each of these long-tenured leaders shares a parallel view on what’s most important at MGIC.
“We all believe in helping families achieve and sustain homeownership. That’s our No. 1 priority. And we all believe that the best way to accomplish that is by doing the right thing — that was Curt’s mantra,” Crowley said.
Hughes added, “That sounds simple, but there have been occasions where doing the right thing was certainly not doing the popular thing. We have a leadership responsibility to our co-workers and customers to operate in a way that provides long-term sustainability. That’s what has allowed us to survive the ups and downs of this business since 1957.”
Miosi said, “Our corporate guiding principles — be obsessed about customers… be accountable, positive, trustworthy… invent and simplify… insist on the highest standards… look at the big picture… deliver results — these are the recipe for doing the right thing.
“It’s more than just a tagline. It’s being a team player,” Miosi continued, “where sometimes you recommend things that may not be the best thing for your project, but the right thing for the company.”