The integral role of financial services in an economy must be balanced. They serve as the linchpin connecting individuals with surplus funds to those in need of borrowing, establishing a symbiotic relationship. Kuber Mortgage Investment Corporation (MIC), a non-bank lending entity, specializes in offering tailored short-term mortgage loans to creditworthy borrowers. These borrowers, whose financial requirements surpass the conventional lending constraints of traditional banks, find a fitting solution through Kuber. Lois Tullo, CFO of Kuber Mortgage Investment Corporation has been analyzing the company's financial strengths and challenges to take Kuber MIC to the next level. She has been a valuable asset in the industry.

In a close-knit interview, Lois shared numerous valuable insights with us regarding the financial sector, its burgeoning nature, and its vital significance to the economy.

Guide us through the foundational years of your life. What were significant early influences that contributed to shaping your identity as an individual?

Growing up in central Canada, specifically Saskatchewan, profoundly shaped my perspective. Prairie culture instilled a prudent mindset that assessed the risk/reward and often advised against extravagant spending in the face of financial limitations, characteristic of a faith based agrarian economy. Raised by remarkable parents, my father's role as a travelling salesman and my mother's leadership in volunteer organizations shaped my diverse experiences. Working as a waitress for seven years provided a debt-free university education, instilling values of efficiency, effectiveness, and customer service. My journey took me from Price Waterhouse in Calgary to Clarkson Gordon/Ernst & Young in Toronto, Food for the Hungry in Ethiopia, developing roles in data analysis, consulting, and ultimately becoming a CFO at CIBC Finance, reflected a trajectory marked by opportunity, adaptability, and a strong work ethic. Since 1997, teaching risk management at the university has been a 28-year passion, providing students with practical insights and industry connections for successful careers. It also allowed me to balance raising three wonderful children, including one with Autism, while staying current in my career.

You offer a wealth of diverse business experience spanning three decades. Could you guide us through the pivotal moments of your extensive professional journey?

In over 30 years, I've contributed to the Global Risk Institute with research papers on risk management. In 2016, I entered the realm of cryptocurrency startups as CFO for two blockchain ventures, facilitated by a connection from my ICD.D. cohort. Over a decade ago, I provided insights into organizational dynamics while serving on the board of a tier-one bank. Leadership is crucial for a company's success, requiring a blend of positional power and openness to collaboration. In my current role, I focus on team development, fostering opportunities for new members in Canada, and contributing to business growth in a diverse and fast-paced environment. My strengths lie in a unique blend of experience and educational backgrounds, enhancing my ability to influence organizational dynamics.

“When you get to the end of your life, & you look back, have you lived your life with 'no retreat, no reserve, & no regret”

As the CFO of Kuber Mortgage Investment Corporation, what are your top priorities for driving the company's growth?

I've been on an outstanding senior management team led by exceptional Founders, composed primarily of engineers. We successfully automated processes and built strong relationships. Upon joining in 2022, assets under management increased from $125 million to $185 million, establishing connections with major funders, including banks and regulators. We also raise capital through high-return/low-risk preferred share offerings. Building Kuber’s network of family offices and investors is a top priority. Kuber MIC is transitioning from a large startup to gaining recognition as a significant player in the financial services industry. As a seasoned business leader, I acknowledge the inherent challenges that come with the role.

As a business leader, challenges are inherent. Could you share the main obstacles you face in your current role and your strategies for overcoming them?

The primary challenge involves balancing urgent tasks like swift share transactions and mortgage processing, despite managing assets worth $185 million. The company's relatively small size adds constant urgency, making it challenging to implement comprehensive policies and procedures for long-term growth. Nevertheless, the cohesive and capable team contrasts with less cooperative environments, making this challenge more manageable.

According to your perspective, what notable successes have you accomplished thus far in your professional career?

My career commenced with the achievement of passing the challenging CA/CPA exam, which has a 50 percent failure rate. Shortly after I worked in Ethiopia, during the war, with Food for the Hungry, which provided me with a profound sense of purpose and clarified my priorities. Subsequently, while working at Nolan, Norton (founded by 2 professors of the Harvard Business School, to provide Strategic Technology consulting), while concurrently completing my executive MBA, which provided me the opportunity to immediately apply best practices to transform companies such as FEDEX, IBM, Bank of America, Fannie May, CIBC and Syncrude. Securing the CFO position at the bank at the age of 31, opened early opportunities to lead cultural and technological transformation in-house. The continuous success of my students, some of whom now hold significant roles in banks, as well as the opportunity to share my research with the United Nations on digital assets, and the intersection of blockchain and Carbon Credits have been the fulfilment of a lifelong dream. I was recently appointed an Ambassador for the Global Blockchain Business Council. My greatest success has been being the Chair of Urban Promise Toronto, our motto, 'Reach a Child, Raise a Leader, Restore Community', and the Vice Chair for a seniors affordable housing charity.

Lois Tullo, CFO, Kuber Mortgage Investment Corporation

Lois Tullo, bringing more than three decades of varied business expertise, is a seasoned executive and board member with a focus on risk, finance, technology, compliance, and corporate governance. Presently, she holds the position of CFRO/CCO at Kuber MIC, an alternative mortgage lender renowned for providing shareholders with returns surpassing industry benchmarks, coupled with exemplary risk management practices.