Voice of Experience: Joanne L. Alma, Managing Director, Head of IMD Technology for Europe & Asia, Goldman Sachs

 

“In my view, there are no particular barriers for women in technology,” began Jo Alma, Managing Director and Head of IMD Technology for Europe and Asia at Goldman Sachs. “But we need more role models and more senior female colleagues to learn from and work with.”

She continued, “We tend to look up one or two levels and look for people like ourselves. If more women were in technology, more women could see themselves in the industry. It would be like a self-fulfilling prophesy.”

Alma is doing her part to serve as a role model, as well. Having recently initiated a program at Goldman called Girls in IT, in the past year, Alma and other senior women have made time to speak with teenager girls in UK schools on careers for women in technology. She said, “It’s fantastic to feel you can make a difference for these girls.”

A Career in Investment Management Technology

Alma started her career technology at CIN Management, an investment management firm, and experienced working in all of its business areas – property, venture capital, and marketable securities. When CIN was acquired by Goldman Sachs in 1996, she moved to the investment bank.

She said, “I was quite lucky. The global team was reviewing the technology for building a global asset management platform, and I was in the right place at the right time.”

After taking on various projects, Alma was made responsible for the London team, and then added private wealth management, so she became head of technology for the investment management division in Europe. Her role has also expanded to leading the asset management technology team in India as well. She said, “It’s amazing the quality of talent we have in India. We are fortunate to have a big technology footprint there.”

“Probably the high point of my career was making managing director in 2007,” she continued. “Really, it was just fantastic to be recognized for the contribution to the firm that I had made, and will continue to make.”

Currently, Alma says, she is energized by a large technology project that Goldman Sachs Asset Management is undertaking. “We are going through a big change program right now. There is a lot of technology change to scale our platform, and we are building out our capabilities in new countries, which means a lot of different competing priorities. It’s very interesting.”

“I’m particularly interested in how technology can be an enabler for business growth.” She added that she is also interested in information security. “We’re not heavily involved in retail at Goldman Sachs, but security is always a concern and we must stay ahead of the latest challenge.

Advice for Professional Women in Technology

Women entering the industry should take advantage of opportunities to learn and make themselves known, she said. “Be a sponge and focus on delivering the best for your clients.”

“What I wish I had known was that I should have been more confident of my thoughts and spoken up more.” She explained, “Your opinion is valued, and many junior people tend not to understand that right away.”

Once you move up in the organization, Alma continued, you should start focusing on your strengths. She said, “Figure out what your strengths are. Try to play to those strengths, and align your responsibilities to them.”

Finally, she added, “Ask for feedback. If you don’t know what your clients or managers think of you, you won’t know where to spend your precious time!”

Women in Technology at Goldman Sachs

“We run a lot of initiatives” Alma said, regarding the firm’s efforts to attract and retain women. One of the networks she is particularly involved with in the UK is EWIT – the EMEA women in technology network.

With over 200 female members, EWIT was set up in 2001 and runs multiple events per year. Recently, the network presented an event on “finding your technical voice.” It also offers career panels, speaker events, working groups, and an annual senior leadership conference for its members.

She added, “EWIT runs events, but it’s also a support network. It’s a place you can go at different times of your life for support and information.”

For example, she said, Goldman has implemented a “maternity buddies” program to help women during their maternity leave and to support their return to the firm. “Our returners rate is very high,” she said.

Alma has also been to the firm’s Women in Technology conference in the US and participates in other initiatives when possible, particularly sponsorship and mentorship programs.

The programs have been successful, she said. In fact, she pointed out, “We have about 21% women in our technology division at Goldman, which is high compared to the industry.”

The Next Generation of Women in Technology

Alma said she was particularly involved in getting a program off the ground at Goldman Sachs in the UK to encourage young women to follow a technology track at school. She explained, “Goldman allows you to take the initiative and make things happen. And a few years ago I got involved in a program to encourage schoolgirls to go into IT.”

She continued, “Studies have shown that girls get put off tech around the age of thirteen or fourteen. And this is when they are deciding which subjects to take in their schooling.”

Goldman Sachs initially partnered with Unilever on the project, and now that the program is going on its second year, a few more companies and organizations have joined. She said, “We go out to schools and present to girls about careers in technology, hopefully giving them role models.”

She continued, “Just within Goldman, we have reached about 2,000 girls so far.”

“We want to be an example for why the field is good for women. And it allows our women to feel that they have made a difference as well – that they are doing the right thing for our industry and taking a long view of our talent pipeline.”

“I thought I can’t drive this initiative without taking part myself, so I visited my old school to present. The halls were much smaller than I remember!” she said with a laugh. “And I’ve visited another as well, and I’ve just been asked back for this year.”

In Her Personal Time

In her personal time, Alma enjoys skiing, cycling and traveling. She said one of the most interesting places she’s been able to visit is South Africa. She recalled, “It’s really amazing. There’s so much contrast there in different areas. It was really enlightening.”

By Melissa J. Anderson (New York City)