Golden Opportunity

When Jennifer Cabalquinto ’90 took her first job in the professional sports world, she had no idea she was about to be part of one of the most impressive runs in basketball history.

After spending 15 years in the television industry, Cabalquinto joined the Golden State Warriors as the team’s chief financial officer in 2013. At the time, the Warriors were just one year removed from finishing 23-43 in a season shortened by a lockout.

But over the past four years, the Warriors have been far from the bottom of the league.

Last season, Golden State finished the year with a 67-15 record, en route to the team’s first NBA title in 40 years. However, the team wasn’t finished there. This season, the Warriors became an international story as they sprinted out to a 24-0 start to the season. By late March, they were 64-7. Fans would sell out arenas around the country, paying top dollar to get a glimpse of league MVP Stephen Curry and company on their historic run.

Now that the team is in the center of the NBA spotlight, Cabalquinto’s job has gotten even more intensive — especially as the team prepares to build a new stadium in San Francisco.

“It’s obviously been very exciting,” she says. “At the end of the day, this is lightning in a bottle. It’s a ride we’ve all enjoyed and won’t take for granted.”

Deciding on a career in finance

Cabalquinto and her four brothers grew up in Brooklyn, where her family settled after emigrating from the Philippines. She wanted to be a television newscaster, but her father, who was an accountant, convinced her to pursue his profession. At Binghamton, she learned the impact of a well-rounded education, and it’s been an important driver for her career in the finance world.

“I was an accounting major, but there was so much more to learn,” says Cabalquinto, who took women’s studies and East Asian studies courses.

“I studied Japanese, Japanese cinema, etc. — largely because, at the time, Japanese management and business practices were all the rage,” she says. “I took more than I needed to graduate. I think it’s important to look beyond numbers. It’s not just about numbers. It’s about what is driving them.”

Upon graduating, Cabalquinto joined Ernst & Young, where she worked as a senior auditor. She would then go on to spend five years with Telemundo in Miami before being named vice president of finance for NBCUniversal’s Los Angeles-based television stations. In 2007, she was named vice president and chief financial officer for Universal Studios Hollywood.

After leaving Universal and spending time as a stay-at-home mom, Cabalquinto was contacted about the Warriors job by a recruiter. The call was a surprise for the New York native. After all, she had no experience in the sports world. However, Cabalquinto decided to go for the position and transitioned into a field that was much different than what she was accustomed to in the television industry.

“The pace is a lot different,” says Cabalquinto. “It’s not as fast as it was at NBCUniversal. That was 365 days, whereas the basketball season is only so long.”

Being part of the NBA’s elite

There really isn’t a typical workweek for Cabalquinto, who says her daily agenda depends on what time of year it is. During the offseason, she might be asked to look at a player’s salary and the impact a deal may have on the team’s finances. During the regular season, her day-to-day responsibilities might include anything from managing cash flow to working on compliance to collaborating with the business analytics team.

“The nice thing about being a CFO is that, at the end of the day, everything translates into a number,” Cabalquinto says.

“I’m an operational CFO, and I look at what is driving the business.”

“At the end of the day, this is lightning in a bottle. It’s a ride we’ve all enjoyed and won’t take for granted.”

According to her coworkers, Cabalquinto’s well-rounded skill set and sharp business acumen make her the ideal person for the job.

“The best part about working with Jennifer is she relates to the overall business much better than a typical CFO,” says Brandon Schneider, senior vice president of business development.

“She understands the concept of ‘you have to spend money to make money,’ which is a huge asset to our revenue-generating efforts. She is a team player and is extremely analytical in evaluating what calculated risks should be taken. At the end of the day, she is supportive of investment as long as the case can be made that a substantial return on investment will be realized.”

The Warriors’ fortunes have changed considerably over the past few years. Golden State is no longer the team that rarely gets on television. The Warriors now seem to have a nationally televised game every week. During the team’s 24-0 start to this season, resale ticket prices in away arenas climbed into the hundreds for the cheapest seats. The Warriors have attracted fans from all over the world. In fact, Cabalquinto says that her father — who lives in Florida and was never a Warriors fan — now follows every game.This type of success can change the way you approach a business, Cabalquinto says. New opportunities in marketing and retail are now available because of the team’s impressive run over the past two seasons. But it’s important to keep things in perspective, she says, because despite the team’s success on the court, a misstep business-wise can hurt the franchise in the long term.

“You have to maximize your return,” says Cabalquinto, who adds that one of the most important parts of her job is being disciplined.

These last two seasons have been something that most teams never have the chance to experience. And, as Cabalquinto notes, it’s the type of success that can really benefit a team financially.

“It has been phenomenal to be a part of,” she says. “It is about capitalizing on the moment.”