5 questions with … Toyota Financial Services VP of Sales Joanna Dean

Toyota Financial Services’ (TFS) Group Vice President of Sales Joanna Dean has strengthened relations with Toyota and Lexus dealers through the development of national programs and incentives focused on growing automotive retail and lease market share.

Dean has spent the entirety of her career at TFS, and was appointed vice president of sales in October 2019 after nearly 20 years in various managerial, sales, marketing and operations roles at the captive. Today she is responsible for working closely with Toyota and Lexus divisions to bring finance, insurance and voluntary protection products to more than 1,300 dealer partners.

Dean witnessed shifting purchasing practices amid the pandemic as consumers moved away from the four walls of finance and insurance offices and toward e-contracting and e-signing. In 2020, TFS and Lexus Financial Services (LFS) launched remote e-sign and e-contracting capabilities for dealers to utilize and since then, e-contracting use at its dealers has averaged 92% per month.

The shift toward e-contracting supported Dean’s efforts to prioritize growth in sales and credit decisioning for TFS dealer partners.

Auto Finance Excellence spoke with Dean about her ever-evolving leadership style and how she leverages creativity in problem solving.

Auto Finance Excellence: What are your company goals in about 10 words or less?

Joanna Dean: To transform the customer experience and be the lender of trust.

AFE: What is your favorite piece of leadership advice you’ve received?

JD: I’ve received a lot of leadership advice over the years, so it’s difficult to narrow it to just one. Those that always resonate with me include: Be bold. Don’t be afraid of taking risks. You have to move quickly. Forward progress is progress — don’t get paralyzed with perfection. And, as Harry S. Truman said, “It’s amazing what you can accomplish if you don’t care who gets the credit.”

AFE: Who has had the biggest influence on your career?

JD: Many people have had a huge influence on my career. It’s not only one particular person or mentor; it’s actually a combination of both great mentors and poor leaders. My mentors remind me to have the courage to take risks in order to develop and grow my career. When I think about some of the poor leaders that I’ve worked with or that I know, it’s taught me a great deal about what to do differently to be the type of leader I want to be for my team.

My parents have also had a big impact on my career. As immigrants to America, they set a high standard for strong work ethics and sacrifice. My father has his degree in architecture and was an architect before he left the Philippines. When he came here, he had to take odd jobs delivering phone books, and as a draftsman. He eventually progressed to a career with an international hospitality and design firm. My mother came to the U.S. with a nursing program. She didn’t know a single soul in the country and lived in several states to get her citizenship and nursing credentials.

I didn’t realize it at the time, but their enormous sacrifices of leaving their families and country, along with the expectations they set for their children, have really demonstrated what it means to be committed. Throughout my lifetime, I’ve tried to emulate even a small portion of what they modeled as I was growing up.

AFE: What do you think is the most underrated lending trend?

JD: The ability to buy a full spread of business and consistently support entire product lines for a sustained amount of time. Lending is so competitive, and often lenders are judged by rate alone. A true lending partner is one you develop trust with; one that partners with customers and dealers and helps enable growth and success. Most importantly, a lender that will be there for you through the best of times and in the most challenging of times.

AFE: What’s something your employees would be surprised to learn about you?

JD: Not many people know that I have a highly creative side. When I was younger, I actually wanted to be an architect. I love learning about art, graphic and interior design, and have a passion for photography. I even spent some time in Italy to study photography. Being in the finance industry, my creative side has really helped me throughout my career, giving me a different outlook on things that may appear to be black and white. Creativity has been extremely helpful in problem solving and building out strategy.

Auto Finance Risk Summit, the premier event for risk and compliance management in auto finance, returns April 25-26 in San Diego. This event is the central resource for education and networking focused on best practices in risk management and will prepare your team for the dynamics of the evolving auto finance market. To learn more about the 2022 event and register, visit www.AutoFinanceRiskSummit.com.