Still drawing on lessons learned from a stint in Russia during Soviet times, Christine Loomis, a senior vice president at Delta Capital, explains how speaking the language fluently and commanding a strong cultural understanding can open doors and cut down on misunderstandings.

The Leader: How did a person with a degree in the humanities get into banking?

Mrs. Loomis: I quickly realized that a master’s degree in Russian-area studies alone was not going to enable me to progress very far in the long term.

I needed to bring other skills to it, such as in finance or law. But that wasn’t so hard. I was working at Chase Manhattan Bank’s Soviet and East European trade-consulting unit. I had frequent contact with the parent company and soon realized the value of Chase’s credit-training program.

At the same time, I had started studying for my MBA at New York University’s night school, so I was prepared for the kind of work and its intensity.

The Leader: What did you do between graduation from your MA program and joining the U.S.-U.S.S.R. Trade and Economic Council?

Mrs. Loomis: I got my master’s degree in Russian area studies in 1975 and, upon graduation, went to Leningrad State University on a well-known language and literature program for foreign students.

It was my first experience in the Soviet Union, and I both wanted to go and knew I needed the trip for credibility as I looked for a job. When I returned to New York, the Head of Columbia University’s Slavic Languages and Literatures Department, where I got my master’s degree, directed me to the trade council.

The Leader: Tell me about your work with the Soviet Union at Chase Manhattan Bank from 1976-78. What kind of trade were you dealing in, and what were the main challenges?

Mrs. Loomis: I researched and wrote studies for major American companies dealing with the Soviet Union. My work covered geographical opportunities for companies dealing with natural resources and container shipping. In those years, the Soviet counterparts to Western business were the Foreign Trade Organizations, and we were able to facilitate contacts with them.

The main challenge was not having enough information, which is why some of the more interesting work was helping our clients work in Eastern Europe. My most memorable experience was planning an agrochemical symposium in Leipzig for companies such as 7UP and Eli Lily.

The Leader: Would you have ever considered living and working in the Soviet Union?

Mrs. Loomis: I would not have considered living and working in the U.S.S.R., since I had firsthand experience of how limited real business opportunities were. At the same time, I had completed training at Chase and enjoyed working in other international areas with growth potential. Somehow, I knew I would return to work with Russia when the time was right.

The Leader: You studied in Leningrad in 1975. What were your impressions of the Soviet Union?

Mrs. Loomis: Being a student at Leningrad State University in the summer of 1975 was a fascinating and memorable experience. After studying Russian for six years, I could not have been more ready to visit. The student program was well-organized and my group of 30 visited all the historic and literary sites.

Also important, I had been introduced to two families through Columbia’s graduate program, so I was able to meet some Russians and visit their homes, which was very rare at that time. It personalized my visit and gave me some cherished memories.

The Leader: Do you use Russian at work now, or is English your business language?

Mrs. Loomis: I use Russian constantly at work. During the past five years, English has been becoming heard less frequently at my company since Russian nationals are increasingly taking over responsibilities that were earlier managed by expats. As you know, this is evolving the way it should, and I am very much in the minority when I speak English. Also, I am glad to have opportunities to speak Russian.

The Leader: What are your main responsibilities at Delta Capital?

Mrs. Loomis: I manage the Bank Partner Program, which extends small- and medium-sized loans through Russian banks across the country. This involves chairing the weekly Credit Committee to review loans and supervising on-going monitoring. Russian bank partners are also analyzed on a regular basis. I meet with Russian bankers and businessmen on a constant basis. My responsibilities also include business development for Delta’s Financial Services Group as a whole.

The Leader: Has your career become more interesting and flexible with greater responsibility? Or is your job just more stressful?

Mrs. Loomis: Happily, the more time I put into my work here, the more my responsibility grows, and my satisfaction. Last fall, I became a member of the American Chamber of Commerce’s Board of Directors, which has expanded my view of the business world here. Not only am I dealing with issues confronting my own company, but am now involved with broader policy matters affecting the Chamber’s 600-plus members. The board provides the opportunity to harness the immense resources of member companies and effect change government to government. It is a very invigorating experience.

The Leader: What kind of hours do you work?

Mrs. Loomis: I do work a lot. However, since my responsibilities are many and varied, I don’t always realize how late and how many days I work. Also, much of the Chamber’s work also has a social element, which I enjoy. To answer your question more specifically, I typically work 12-hour days and one day on the weekend.

The Leader: Do you travel a lot on business?

Mrs. Loomis: The need to travel has diminished as the company has put increasing emphasis on Moscow-based businesses. Also, our branch office in the Russian Far East has become more autonomous from our operations in European Russia and is very responsibly managed at a senior level out of Vladivostok. My work requires an estimated 10 percent travel.

The Leader: Tell me about your work with the American Chamber of Commerce’s Small Business Committee.

Mrs. Loomis: The committee meets monthly and I try very hard to stick to topics I know are of interest to small- and medium-sized businesses. Last year, AmCham staff polled attendees about the current issues that interest them most. I remember they included leadership training, real estate and marketing.

I want to build a team of three people to manage the committee. I believe the committee would benefit from some cross-fertilization of ideas, experiences and businesses. I am also learning about some new strategic-planning resources at AmCham, which have helped me with the last meeting.

The Leader: How do you think your banking experience aids your work on the Small Business Committee?

Mrs. Loomis: Banking principles are pervasive in the small-business sector. Issues include ways to build capable management, a corporate strategy and competitive products and services, as well as market analysis and creditworthiness.

A good percentage of small businesses are turning to banks for financing. Last week, a manager from a prominent Russian audit firm spoke to a considerably sized audience about the importance of International Accounting Standards. In short, my banking skills are an invaluable tool, and something I bring to all aspects of my work.