Movers and Shakers: Teofla Rich, Senior Vice President/Manager of Private Banking at Torrey Pines Bank
As part of its ongoing Movers and Shakers series, contributing writer Tina Vasquez spoke with Teofla Rich, an executive woman in private banking about her climb to the top of the banking and financial services industry.
Integrity is something that comes up often in conversation with Teofla Rich. Rich, senior vice president/manager of private banking at Torrey Pines Bank in San Diego, places a refreshing amount of importance on integrity. According to the certified financial planner, the foundation of Torrey Pines is integrity, knowledge, professionalism, and fun, which falls perfectly in line with her beliefs as a financial expert and business woman. “You have to have integrity in all that you do: with your fellow associates and clients and with what you represent, sell, or promise,” Rich said.
Rich was the first in her family to attend college and she began her illustrious career at Bank of America while attending San Diego State University, where she would eventually graduate with a BS in Economics. What was intended to be nothing more than a way to pay the bills turned into a 30-year relationship with the bank. By the time Rich retired at the age of fifty, she had held several impressive senior positions in private, personal, and business banking while also finding the time to raise a family and make history as one of the first female vice presidents in San Diego. “I believe my level of achievement has been reflective of my own effort and capabilities,” Rich said. “The beginning part of my career was the most challenging. Things were much more difficult in the 1980’s; banking was definitely a man’s world. Women were just becoming more of a force in the professional world; the glass ceiling was thicker, but beginning to crack.” At the age of 50, Rich “retired” from Bank of America … and three weeks later she was working at Torrey Pines.
It’s no wonder that Torrey Pines got the attention of Rich so soon after her retirement; the bank has a very impressive story. Torrey Pines, which was founded in 2003, quickly proved itself to be a leader in business banking in San Diego. After just eight months of operation, the bank became profitable, eventually winning the Peak Performance award from the National University School of Business and Management. It was also named one of the top ten largest banks to open in 2003. Rich spends a great deal of her time at work developing relationships with her clients and taking the time to understand their business and what’s important to them. At Torrey Pines she is a successful leader who doubles as a member of the Financial Planning Association, representing the bank as a resource partner for the organization. But, as we all know, people are more than their work.
Rich is many things to many people: to her employees she is a boss; to her children she is a mother; and to her husband of 33 years she is a faithful companion. But she is also a mentor to a middle school-aged girl and a volunteer at her church. She may seem like a model citizen, but growing up she wanted to be a rebel with a cause. Rich wanted to be like her grandmother – an independent, outspoken, firecracker of a woman who came to this country at the age of seventeen without knowing a word of English. She worked hard, played hard, raised a family, and remained “painfully” honest while also managing to respect everyone for who they were.
“In an interesting way, rebellion was a driver in my life. I came from a very traditional/old-fashioned family that retained a certain attitude about the primary role of women. Early on, I chose to pursue a path of ‘resistance with respect.’ I worked hard to be the best I could be and charted my way with small achievements: academically, in part-time jobs, in voicing my opinion, in my social life, and ultimately in my chosen career. I believe my family’s dynamic was actually my inspiration to break the mold,” Rich said.
It may be difficult for college-aged women entering the financial industry today to understand, but there was a time not too long ago when going to college and having a successful career outside of the home was seen as an act of rebellion. Stories like these are echoed time and time again by the women of Rich’s generation. Admittedly, there were some bumps in the road as many of these women were charting unfamiliar territory as pioneers, but they did the best they could and have since learned from their mistakes.
Rich herself has some regrets about her early career, “Early on I put work before family and other aspects of my personal life,” Rich said. “I am of a professional generation that had to put work before life and family in order to get ahead. The current generation has a much more balanced approach to that equation. They understand the value of embracing every facet of life to truly live a fulfilling life that includes the professional, physical, spiritual, family, and personal time. I still find that work trumps other aspects of my life, but now I know that it’s a choice that I make and a situation that I accept; it’s not necessarily an imposition.”
In five years Rich intends to be doing just what she’s doing now: representing a financial institution she’s proud of, helping clients achieve their goals, and learning something new each and every day. She also intends to begin making plans for the retirement stage of her life, though I wouldn’t wager any money on that.
