Careers in Ag Business

Andrew Novakovic
The E.V. Baker Professor of Agricultural Economics
Cornell University, Ithaca, NY
Hometown: Milwaukee, WI
B.S. Agricultural Economics, Minors in Economics and Mathematics (1974)

After graduating UWRF, I achieved an M.S. and Ph.D. degrees in agricultural economics at Purdue University. Since 1978, I have been on the faculty of Cornell University, in the Charles H. Dyson School of Applied Economics and Management.
Several aspects of my time at UWRF stand out for me. Not the least of these is the consistency with which UWRF faculty from across campus showed a sincere interest and high dedication to providing the best possible education to students. This is not to be taken for granted. My two mentored summer internships were also highlights of my time there and an opportunity students at many other universities don't have.

When I went to Purdue I found myself in the company of an impressive set of students from universities ranging from the best of the Big Ten to Princeton. I can truthfully say that my preparation at UWRF was comparable to the best of the best. Despite growing up in a big city, I loved the small town environment and the intimacy of the campus. I valued the friends I made in my classes and Alpha Gamma Rho.

At Cornell, my primary focus has been applied research in the field of dairy market economics and educational programs for dairy leaders, analysts, and policy-makers. I teach courses in Dairy Markets and Policy and in Agricultural and Food Policy. I am an undergraduate adviser and teacher at the Dyson School, which is ranked by Business Week as a top five undergraduate school of business.

In 2010, I was appointed to chair a special USDA Dairy Industry Advisory Committee. Our report was submitted to the Secretary in March 2011. From July 2011 to June 2012, I served as a Senior Economist in USDA’s Office of the Chief Economist. In addition to working with USDA, I frequently assist Members of Congress and the professional staff on the Congressional agriculture committees in reviewing and analyzing dairy policy.

Chet Slipek
Deputy Chief Examiner and Director, Market Risk Division
Farm Credit Administration
Bloomington, MN
Hometown: Thorp, WI
B.S. Agricultural Education (1977)
M.S. Agricultural and Applied Economics (1986)

After graduating from UWRF, I worked for several years as an agricultural loan officer with a small commercial bank. That first job was a great opportunity to directly apply many of the concepts and principles I learned in the classroom, and soft skills such as problem solving, communications and teamwork. My work initially was to gather and analyze financial information needed in farm lending decisions. As I gained experience, I gained more responsibility to recommend and approve credit decisions, and then service a portfolio of loans.

When I first shifted my career to being a bank examiner with a federal regulatory agency, I primarily served as a credit specialist reviewing the lending practices of a variety of agricultural banks. This offered significant opportunities to learn more about the agricultural industry throughout the nation, and over time, understand the credit operations of increasingly larger and more complex financial institutions. I eventually gained exposure to other major components of banking, including operations and capital markets. Today, I serve as a director of a division that oversees the safety and soundness of a portfolio of agricultural banks throughout the country. I have been fortunate to find a career that has provided the perfect mix of agriculture and banking.

Elsa Arnold
Assistant Vice President AgriBusiness & Food Banking
M&I, BMO Financial Group
Watertown, WI
Hometown: Spring Grove, MN
B.S. Agricultural Business (2004)

I manage around 100 accounts, each with loans and deposits, for the bank. About 95% are production agriculture customers, varying from small-scale and organic farms to local produce growers and 1,000+ cow dairy farms. When farmers request financing, have questions on transferring their business to the next generation, or want to know about the security of their online banking services, I am the point person. BMO Financial Group has experts in equipment leases, online banking, estate planning, commodity market analysis, and crop insurance to assist my customers. I connect those expert resources with my customers when I can’t provide the answer. The rest of my time is spent traveling to farms.

UWRF set me up for success through coursework emphasizing professional writing and applied agricultural economics. Thanks to faculty, I benefited from two scholar programs: AgStar and CAFES-USDA with Michigan State University. The network of contacts I have in fellow alumni made relocation from my Minnesota hometown fun.