By Janet Walker, Director, Asset Management, Abbot Downing

Atoms are the smallest units of matter; they gave rise to cells.

Embryonic stem cells come from an embryo, and are undifferentiated and undefined, but multiply, grow and develop into a variety of cells – and ultimately a living, breathing human. The development and coordination of cells into a functioning organism is not fully understood, but scientists are working to decipher this every day. Understanding what keeps everything in our bodies in top working order and determining the causes of problems, from the physical to the emotional and mental, is a curiosity that has fueled me for as long as I can remember. The study of asset management, from understanding the complexities of capital markets to deciphering investor behavior, is surprisingly similar.

My path to asset management was atypical. As a young girl, I was driven by the desire to solve medical problems, to help people, in spite of my own obstacles. I lived in and out of shelters and in a constant state of fear while I was at home, struggling to cope with a physically abusive, unstable and alcoholic father. After becoming an emancipated minor, I finished high school and ultimately college, singularly focused on the desire to go to medical school. My path was not linear and was certainly full of obstacles, but I thrived and succeeded.

My college experience and path to graduation was not straightforward, nor what you might expect for a typical college student. I attended what was affectionately called a “commuter” school, where many of the students balanced school with full time jobs. I began as an Engineering Major and discovered that not only was the subject matter not what I expected, but that I was completely unprepared to thrive in an environment that was so unwelcoming to women at the time. I considered switching to Business Administration, but ultimately found my way to the School of Life Sciences, with a reputation of producing highly skilled scientists. I majored in Cell and Molecular Biology, minored in Chemistry, and loved every minute of it. From studying in the classroom to enduring the rigors of lab research, I found that my intellectual curiosity and desire to go to medical school were in sync. The challenges from my home life however, continued to follow me into college.

In spite of a laundry list of accomplishments and qualifications, I wondered whether I would be prepared for medical school, and looked to professors and others for guidance. Rather than listening to my own voice and following my passion, I took a detour and entered a PhD program in molecular biology at a renowned medical school, on the advice of my mentor. I found myself studying in a field that required a high degree of technical focus and less interaction with people – and while I enjoyed the technical and intellectual aspects of this path, the mismatch became clear.

Returning to the West Coast, I found myself in need of a job. Throughout college, I worked in a number of fields, including a short stint as an administrative assistant in Wells Fargo Private Bank. At the time, I was told that there would be an opportunity for me if I ever wanted to return, so I took full advantage of it. The position wasn’t ideal, but I worked hard to find a way to make it my own. The world of finance was completely new to me, despite a few business electives I took in college. I was curious, highly ambitious and thought creatively about how to make it my own. Initially, I obtained a number of securities licenses, and ultimately the Chartered Financial Analyst designation, to accustom myself to the industry. At the same time, the healthcare and biotechnology industries were coming into focus within the finance industry, driven by technological advancements and major discoveries. I used my technical knowledge, research skills and curiosity to bridge a divide, learning how discoveries in science were transforming the financial services industry.

During my 20-year career at Wells Fargo I have combined the fields of science and finance, working to understand global stocks, how they fit into an investment portfolio, and how the construction of a portfolio is impacted by exogenous factors such as geopolitics, economic forces and investor attitudes. The desire to understand complex situations, determine the root cause of a problem and educate and guide clients is surprisingly similar to my childhood aspirations. I successfully manage a complex book of assets with the added benefit of being able to work with a complex and dynamic group of incredibly talented people.

The journey has not always been easy or straightforward, but I’ve persevered by being flexible and embracing change. Much to my surprise, the tools that I have picked up along the way have helped me tackle success and challenges in my personal life. Marriage, the birth of two children, the sudden loss of my husband, are events that you can never really prepare for. Much like career uncertainty, I think it’s what you learn from these events that’s key.

Everyone defines success in a different way. From working with atoms to now working with assets, I’ve learned that my pathway to success involves listening to my inner voice, following my passion and moving through the obstacles that try to derail me, with grace and a positive, forward looking attitude. Success and challenges are inevitable, how we navigate through them is the key. I never thought that I would be a widow, raising two beautiful girls on my own. Success or challenges, either personal or professional, don’t define who I am, but instead shape who I’ve become.

glass cliff

Guest Contributed by Meredith Wood

The glasshammer has written extensively about the phenomenon of the glass cliff over the years whereby women have been put in turnaround high profile positions that are for lack of a better word, an impossible task or poison chalice.

The best research on the topic is still by Michelle Ryan and Alexander Haslam, of the University of Exeter which shows that there is a quantifiable tendency for women to be hired to elevated positions in times of crisis and uncertainty only to be unfairly penalized when they fail.

The effect of this is to create an unrealistic expectation for women executives, setting them up for failure. When, because they were handed a rather stacked deck, expectations are not fully met, often a company feels justified in going back to a status quo leadership by putting a man back in charge. They can then feel satisfied that though they tried to promote equity, it just didn’t work out this time. A 2013 study demonstrated just how prevalent this is. In over 600 transitions from female executives in Fortune 500 companies, only four women were succeeded by another woman.

The system, to put it bluntly, is rigged. And research demonstrates this happens over and over again in many industries.

Ways to avoid slipping off the cliff

It’s not shocking that women must do more than men to protect their agency in the workplace. Throughout the business world, women have routinely faced difficulty that men do not register. From securing business loans to facing a growing gender pay gap, women in executive level positions have been systematically discriminated against.

However, in many cases there are lessons from those who have come before that will help navigate the cliff. These include pieces of advice that men have routinely taken advantage of where women have traditionally had a hard time embracing them:

– Learning to say “NO”: Before taking any position, find out if the company is facing a difficult situation or transitional period. Just because something is offered doesn’t mean it is a step up. Recently, Uber had difficulty finding a female CEO because it was facing allegations of sexual misconduct and security concerns. The women who turned down the position may have done so because they saw it as a glass cliff waiting to happen.

– Set up expectations beforehand: One of the ways companies get away with Glass Cliff behavior is because expectations for women executives are set at an unrealistic level. By coming up with feasible metrics that symbolize success it will be more difficult for anyone to point to the idea that replacement is necessary.

– Outline a long term solution: Part of the issue with a Glass Cliff is that it usually has to do with relatively immediate results. With a long term plan in place, there is less recourse for those who seek to oust a women executive just because the situation seems dire in the short term.

– Negotiate to handle risk: If the company is in a precarious situation, make sure the position is made to be worth your while. Women are 4 times less likely to negotiate their salary than men. Also be certain to research comparable salary and benefits for a position that fits the situation.

Most importantly, to successfully scale the glass cliff you have to first know of its existence. By learning the lessons of the cliff, it is then possible to understand how to be in the best position to deal with it.

For more tips on how to navigate the glass cliff, check out this infographic from Fundera.

Meredith Wood

Meredith is Editor-in-Chief at Fundera. Specializing in financial advice for small business owners, Meredith is a current and past contributor to Yahoo!, Amex OPEN Forum, Fox Business, SCORE, AllBusiness and more.

The opinions and views expressed by guest contributors are their own and do not necessarily reflect those of theglasshammer.com

If getting promoted at work is on your goal list for the rest of the year, or part of early ruminations for a new year resolution for next year, how then can you do your best to achieve your goal?

How To Get PromotedHere are some things to consider:

1. Do you know what the formal promotional process is? Are you in it? What do you need to do criteria wise to get into it? Who drives it in your firm? What roles respectively do your boss(es) and HR play? What other stakeholders are important?

2. What job do you want? Do you want to take the next promotional step as defined by the company? If so, great, take time to understand the competencies needed to make the leap – both hard skills and behaviors. All jobs have tasks that we prefer over other tasks. Be honest with yourself, how strategically important are the tasks that you are avoiding and how will that impact you when being considered for the promotion?

3. If you do not want the linear next step, think about what you like doing, with who and why you enjoy it. This is a great way to distill what would be a good expansion of your role or even a lateral or a non-linear upward move to a different department. Then, work with your sponsor, boss and HR to craft your path.

4. Culturally, take a long hard look at what behaviors get rewarded at your firm. Do they equally get rewarded no matter what gender you are? What flies? What does not get tolerated? What grabs senior management’s attention? This is an important analysis to do as these data points are all keys to seeing what the future could look like so that you can proactively manage your career, every step of the way.

If you would like to work with an executive coach on navigating the terrain, schedule a free exploratory chat with Nicki Gilmour here.