Coworking with Alison Staloch

Coworking is a weekly segment where we talk to CFOs and other leaders in the finance space about their experiences, their companies, and the larger economy. To be considered, answer a few quick questions for us here and we’ll be in touch if we want to feature you in the newsletter.

Alison Staloch is chief financial officer of Fundrise, a real-estate investment platform that allows retail investors—also known as non-Wall Street investors—to access the real estate market.

This interview has been lightly edited for length and clarity.

How would you describe your job to someone who doesn’t work in finance?

As CFO of Fundrise, my true priority is advocating for the individual investor. My background as chief accountant at the SEC for the Division of Investment Management dovetailed well with Fundrise’s mission to provide retail investors with the ability to invest in historically inaccessible alternative asset classes such as real estate private equity, private credit, and growth-stage venture capital. And in an economic cycle like we’re encountering today, including the market volatility we’ve been experiencing, this access is proving to be increasingly important as retail investors want to be able to diversify their portfolios with assets and investments that are not correlated to the stock market, such as private real estate.

How do you think the CFO role has changed over the past five to 10 years, both for you, and in general?

I think being flexible about your focus and priorities and sufficiently curious about picking up new skills is critical. For Fundrise, and when you’re talking about similarly mission-oriented businesses, like so many organizations are today, a CFO really needs to share a belief in the mission; mercenaries won’t cut it. I think that’s even more important than a specific background or skill set, though obviously an expertise in a finance discipline that is most important to your business is critical.

And this may be an important shift in the CFO role going forward: an agility with respect to fundraising sources and approaches. I expect evolving methods of funding for founders will continue to gain traction as the interest and volume in the private markets expands and that will require CFOs to think in new and different ways.

What’s something we can’t guess about your job from your LinkedIn profile?

I play a very hands-on role with our finance team, which has nearly doubled in size since I joined Fundrise 18 months ago. I think people might assume that the CFO doesn’t have much to do with day-to-day operations—especially at a company like Fundrise, which has grown so much over the last several years—but a large portion of my schedule is focused on building our systems, processes, and talent in areas of material risk to our investors and our business. For example, we recently completed implementation of the SEC’s Rule 2a-5 for our registered investment companies, which revolves around board governance of our valuation process. I helped write the rule when I was at the SEC, so it was a natural fit for me to get involved as our team adopted the rule.

What advice do you have for future CFOs?

Trust your instincts and don’t put too much emphasis on planning your path out precisely. What I’ve learned over the years is that each job will take you to surprising places and will shift your perspective and understanding in ways you couldn’t have anticipated, and generally in ways that will benefit you if you are curious and open to learning new things. Be open to that uncertainty in your own career.—KT