Voice of Experience: Vanessa Lau, Group CFO, Global Rolled Products, Alcoa

By Melissa J. Anderson (New York City)

Vanessa Lau, Group CFO for Global Rolled Products at Alcoa has never shied away from a challenge. Named on Crain’s New York’s 40 Under 40 list last year, Lau has had the drive to fuel an exciting and esteemed career from the very beginning.

Her advice? Don’t be shy about your goals.

She said, “I find that my male colleagues are more willing to show their ambitions and my female colleagues are less willing to show their ambitions. They feel like they are being pushy.”

“But management really values transparent discussion. Be ambitious.”

A Career Built on Challenges

“My path is a little different,” Lau said. “I grew up in Hong Kong, and my parents sent me and my siblings to the UK for schooling. I attended Oxford, and then took my first job at PwC as an accountant.”

She continued, “I started as an intern doing wealthy people’s tax returns, and at the end of the internship, they invited me to come back once I had finished my degree.” Lau did just that, and became qualified as a chartered accountant at PwC. But after a short time working in accounting, she found herself yearning new challenges. The firm persuaded her to stay, and she found herself with a new role working in the mergers and acquisitions department. “London was booming,” she said. “I spent three years doing M&A, and I learned a lot, and became a senior tax manager. I was starting to plot out my partnership… but I thought there was still so much to learn.”

While Lau loved the adrenaline and the excitement of M&A, she found herself intrigued by strategy. She moved to a role at McKinsey, working on strategic projects. After 3 years working in Europe, she asked for a secondment to Asia.

She said, “It was the first chance I had to work in Asia. I spent three years working in Hong Kong, China, Vietnam, Thailand, and Malaysia. I became an associate principal at McKinsey, and I was loving it. I thought I would embark on a partnership – but some things you can never plan.”

Lau had started consulting for Alcoa, and she said, “something clicked.”

She continued, “They asked me to interview for a position as group CFO, and I thought, “How could I turn this down? This is such a fantastic job.’ I wasn’t sure if I had all of the qualifications, and then, lo and behold, I was offered a job at a great company.”

“Now I’ve been there just over three and a half years and I’ve loved every minute – every day there are new challenges,” Lau said, noting that she’s most proud of the work she’s done to help the company through the recession.

Looking back on her career so far, Lau said, “I was never concerned about success. But I was being promoted and doing well. You have to enjoy the journey for itself. The journey is never going to be smooth, and the journey is full of challenges, which I enjoy. And I enjoy challenges now more than when I first started.”

“I’m really excited by the growth prospects ahead of us,” she added, noting her interest in the global marketplace.

Advice for Women Business Leaders

In Lau’s industry, heavy manufacturing, women are very much still in the minority. “I wish there were more women at every level,” she said. She continued, “Some women are uncomfortable being in the minority, and some lack confidence. But it’s not such a bad thing – people remember you.”

She continued, “I wouldn’t see this as a barrier. Women should feel comfortable with themselves, and they will contribute just as much, if not more.”

As for the work/life balance issue, Lau said, “I think the scale varies between individuals – it’s the balance you feel comfortable. Personally, I have a work hard / play hard balance. When I spend time with family and friends, I don’t think about work in the middle of it.”

Lau advised young women, “When you embark on a career path, don’t start with a mindset of the glass ceiling. If you start with a barrier in your mind, it will keep you there.”

Additionally, she said, “Find mentors, and make very close connections both inside and outside your company.”

Women in the mid to upper level of their careers should also seek out mentors. She explained, “As you progress, the people in more senior jobs get to be fewer and fewer. You have to compete with other people, and it never goes very smoothly. This is the best time to reach for mentors and sponsors. Be transparent about what you really want them to do.”

Lau said the best advice she received was about staying upbeat. She recalled, “There was a challenge I didn’t quite meet, and I was moaning to my mentor about the experience. My mentor said, ‘Vanessa, I’m really expecting more of you. Have you ever thought about people who fall down and pick themselves up? You’re here moaning and they’re already three steps ahead of you.”

She continued, “Don’t waste time – pick yourself up when you fail.”

Lau said that Alcoa has several programs for the advancement and retention of women, including its women’s network, of which she is on the steering committee. “We have a well organized network with high level senior executives supporting it.”

The network hosts regional events across different facilities. Lau explained, “It’s designed to help people network, learn, and share experiences and down to earth advice.”

In Her Personal Time

Outside work, Lau said she is very close to her family. “I have a very traditional Chinese family, which said, ‘Go and get yourself an education and live an honest life and work hard, and good things will happen to you.’” Alcoa is a good fit for that philosophy.

She continued, “I spent a lot of time enjoying music and the theater – and living in New York now and previously in London was fantastic.

Lau said she also enjoys traveling outside of her extensive business travel. “Every year I try to see a place that is unique. It’s too early to tell where for 2011, but in 2010 I took a trip to Saudi Arabia – which was actually on business – and it was the most eye opening and completely unique experience, especially being female.”