Voice of Experience: Michele Trogni, Executive Vice President, Consolidated Markets and Solutions, IHS Markit

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michele-trogniBy Cathie Ericson

With a longstanding career working for and selling to financial institutions, Michele Trogni, Executive Vice President of Consolidated Markets and Solutions at IHS Markit, shares her best piece of advice – success isn’t achieved by one person alone. It’s all about everyone involved, whether it’s your team, your customers or your community.

In her current role, Trogni leads the delivery of data-driven solutions for customers in product design, technology, and managed services including digital, tax solutions, counterparty manager, Know Your Customer (KYC) and Know Your Third Party (KY3P).

She is responsible for helping customers achieve their business goals and competitive advantage through focused, scalable solutions which reduce cost of ownership, improve decision making, lower risk and engage end clients.

Banking and Tech Combine for Ideal Career

As the first in her family to attend university, Trogni has always been a trailblazer. Her career in banking was built during the 25 years she spent at UBS. She first started as a financial controller, often working on integrations and merger-related projects. It was a very acquisitive time, and she was often required to close transactions in a tight timeframe. “It was a perfect fit for me as a tech-savvy accountant with a rambunctious personality,” she says.

As she took on more and more projects, her career took her from the UK to Chicago. She became more involved with the technology function, which spurred her enthusiasm as she saw the potential of combining tech into future strategy.

After a brief stint in Chicago, Trogni upped roots again and headed to New York in 1997. “My CIO at UBS was impressed with the directing I’d done on a wide variety of merger projects, but he told me that if I want to be given the opportunity to do something big, I have to really know the ins and outs of how it all works.”

Trogni was advised to move into technology to be at the coalface running the IT function, and that’s exactly what she did. “Learning how to run the division was an important milestone that propelled my career. I couldn’t have accomplished what I have, if I had stayed on a superficial level,” she says.

She was asked to become group CIO in 2009, overseeing a $5 billion budget and more than 17,000 employees – an impressive achievement considering there were still so few women in tech. After five years she decided to retire from banking, but her best-laid plans for a year off were undone when she was offered the opportunity to move from building tech to selling it through Markit after just six months into her retirement.

It is a perfect fit: selling products she understands to customers like banks and hedge funds that she knows well. “They know I have sat in the buyer’s seat which is compelling to them,” she says.

Now Trogni is responsible for a much larger role within her firm. In July 2016, Markit merged with IHS to create IHS Markit, a global powerhouse and leader in critical information analytics and solutions that drive economies worldwide. She is excited to bridge two firms from both the cultural and operating perspective, creating a new vision for the combined firm.

Making Sense of Diversity

While Trogni has the intellectual skills to succeed, she also has a high “EQ,” an emotional quotient that has served her well and, she believes, enabled her to navigate successfully as a woman in a world that is heavily male dominated. “Some colleagues ended up obsessing about that, but I never did,” she says.

Prior to the financial crisis, firms were working hard to embrace diversity, but Trogni believes that their emphasis on diversity shifted to crisis management. “We’re gradually getting back to where we were,” she says, but notes that there is still a lot of unconscious bias in the workplace that the next generation will have to deal with – something she feels positive about given the fact that millennials are a less-judgmental generation. “I’m very optimistic that they are the perfect ones to address and overcome it,” she says.

It’s the Team That Leads to Success

Over the years, she has had many peer sponsors and managers, and she believes in paying it forward, focusing on ongoing coaching. “No one’s career can be just about them,” she says.

Trogni feels professionals get the best results when they have multiple sponsors, rather than relying 100% on one person to offer the next opportunity, which can lead to burn out. These various sponsors have modeled qualities she wants to emulate, and she also takes inspiration from West Coast entrepreneurs – people who “break the mold,” like Sheryl Sandberg and Elon Musk.

She also has seen the importance of surrounding yourself with a team that offers different specialties. “I don’t need all Type A people, or sales guys or marketing pros,” she says. “You need a combination of a wide variety of skill sets because you only win when you cover all your bases.”

Of course, a sense of humor, and ability to laugh at yourself never hurts, she adds.

A Robust Life outside Work

Community service has long been an important component of Trogni’s life. She has been active with the UBS-sponsored Bridge Academy, a half industry and half governmental-supported school focused on math and music in a low-income part of London. Through fundraising activities she helped spearhead, the school was able to raise £1.5 million, allowing it to expand to offer classrooms for Sixth Form, the equivalent of US 11th and 12th grades. She also worked with the school to create female empowerment groups that introduced girls to coding and tech.

In addition, she spent four years on the board of NPower, a tech charity that trains young, underprivileged adults in the skills they need to build websites and then matches them with clients.

Mom to four kids, ages 18, 15 and 13-year-old twins, Trogni stays busy with their sports and enjoying the “loud family fun” that kids bring – fitting in CrossFit workouts when she can. The family likes to travel and relishes time spent at their home in Nantucket.

Closing thoughts

When asked to point to career achievements that she is most proud of, Trogni turns to her role leading Investment Banking Operations at UBS during the financial crisis. It was a time of high emotions in the industry as well as tremendous risk, she recalls. “Turning to sponsors, mentors and my team helped to ease this burden and proved to be a time when my EQ really came to the fore. The last thing a leader wants is to get to the top of the hill with no one behind you.”

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Voice of Experience: Miruna Stratan, Managing Director, Goldman Sachs

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miruna-stratanBy Cathie Ericson

As a technologist, there is no better time to enter the financial services sector, asserts Miruna Stratan, Goldman Sachs Managing Director in the Technology Division. “Technology is no longer a cost center, but is at the core of digital transformations across the industry, providing the opportunity to impact and shape new business models.”

Driving Technology Advances Throughout Goldman Sachs

Miruna joined Goldman Sachs after studying communication and electronics engineering at Bucharest Politechnica University and earning her graduate degree in telecommunications from Stevens Institute of Technology. Building technical teams and developing new innovative infrastructures have been the hallmark of her career throughout her time at the firm.

During her 17-year tenure at the firm, she has held multiple roles. Early on in her career she built technology solutions for the banking business. Subsequently, Miruna took a series of technology infrastructure engineering roles, focusing on data center engineering products across the computer storage and networking space and working closely to drive the firm’s global data center architecture and strategy.

Over the years, she had the opportunity to work directly on building innovative technology stacks that transformed Goldman’s operational model and enabled the firm to be increasingly agile. Miruna was also part of the team that engineered the virtual desktop platform for the firm, and more recently she drove a security engineering project that enabled Goldman Sachs to extend its cloud platform securely to public cloud providers. Currently, she manages the external cloud access platform, cloud desktop and remote access function for Goldman Sachs engineering. She was named Managing Director in 2015.

Being named “Technology Fellow” in 2014 was a notable achievement for Miruna. The role of Technology Fellow is a distinction reserved for the best engineering and architectural talent at Goldman Sachs, a select group of engineers whose authoritative knowledge is demonstrated through strong technical leadership, innovation and problem-solving expertise.

“At Goldman we manage complex technology stacks and control frameworks; we think of ourselves as a technology firm building the platforms that allow our colleagues to transform our businesses into a data-driven model through applied technology,” Miruna says. “It is exhilarating to be at the forefront of emerging technologies in the infrastructure organization when the rate of technology change has been so tremendous.”

Lessons Learned – and Now Shared

Over the years, Miruna’s career has progressed in large part because of the opportunities she took to move laterally throughout the firm. “I had to prove myself each time in these new roles, on different types of technologies, but these opportunities were the most amazing learning experiences I had,” she notes. “I am quite proud of the engineering teams I have built over the years as well as seeing many of my mentees grow and develop.”

One important lesson she has learned is the significance of communicating your contributions to others. Early in her career, she focused on building her technical skills while avoiding the spotlight. She recommends that women develop their technical skills and establish themselves as an expert in a specific technology or platform early on, but once they get there continue to accept lateral opportunities and embrace the challenge to work on something completely different. Miruna also realized it’s essential to listen to feedback and be thoughtful about how to align others to your vision.

“You have to modulate your message to the audience and understand how to be practical when delivering a product,” she said. “Communicating your strategy effectively to stakeholders ensures buy-in for a new project or platform.”

Ensure Women Have a Seat at the Table

Initially, Miruna felt intimidated as the only woman in most situations, but over time, she found diverse role models within the firm and across the tech industry. Connecting with these individuals helped her realize that being different allows others to naturally notice your contributions more.

“It’s so important to have strong female and diverse role models in executive and senior technical roles,” Miruna says. “We have to carefully mentor the technical talent not only as they enter the firm, but throughout their career.”

Due to her own experience in the sector, Miruna is passionate about building a thriving female tech community and has participated in industry conferences such as the Grace Hopper Celebration of Women in Computing, ABI.NY events and Lesbians Who Tech.

She also focuses on giving back to the Women in Technology organization and devotes significant time to recruiting and retention programs, partnering with external organizations such as Girls Who Code and the Anita Borg Institute. Additionally, she has been involved in the Geek Speak program, which provides individual coaching and feedback to help women improve their presentation skills when discussing technical topics.

Throughout her career, Miruna has been involved with Goldman Sachs’ affinity networks, serving as the Managing Director sponsor for the technical pillar of Women in Technology. She has also participated in the Disability Interest Forum and is an ally to the firm’s Lesbian, Gay, Bisexual and Transgender community.

Supporting Children With Disabilities

Separately, she actively works at balancing her family and career while simultaneously addressing complex special needs situations. “I have learned how important it is to prioritize, delegate and recognize the activities that are the best use of my time,” she says.

Miruna is passionate about helping kids with disabilities by ensuring kids with dyslexia have access to specialized education accommodations and programs. As October 15 is both World Sight Day and World Dyslexia Day, in October she reflects on her future impact and contributions to this important issue and creates a specific action plan for the upcoming year.

“There is now so much technology available that can be leveraged to help kids with disabilities participate fully and successfully at their grade level in the learning process,” she says. “I regularly research innovation that creates accessible, technology-based solutions in the areas of communication and advocate for such solutions in the special needs community and within my school district.”

An avid reader of both science books and literature, Miruna enjoys traveling with her husband and their 12-year-old twins. Recent trips have included Spain and Romania, and this year they traveled to Yellowstone and the Grand Tetons and learned about the amazing geology of Yellowstone County.

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Voice of Experience: Marilyn McDonald; Director of Product Management Technical, Global Digital & Cloud Technology, Citi

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marilyn-mcdonald-featuredBy Cathie Ericson

“Do not wait to be asked to the table. If you have value to add, then invite yourself,” says Citi’s Marilyn McDonald, a motto she has followed throughout her career at numerous “tables.” Along the way, she has also lived the advice she now offers others: “Be authentic. You don’t need to be exactly like someone else, be they male or female, to succeed because the parts that make you authentic are the parts that will help you be successful.”

Building Her Career In Many Disparate Industries

“Non-traditional” is the word that McDonald uses to describe her career. She put herself through college while working full time – community college first and then Arizona State University. At 22 she drove to Northern California in order to learn to snowboard and work at a ski resort, spending the subsequent five years “following the snow” from California to Australia and New Zealand. Then she backpacked around Europe until she ran out of money. “These experiences really helped broaden my view of how culture and people influence behavior,” McDonald says.

As she contemplated career options, she took a correspondence course in computer programming until “I realized I was terrible at it because I couldn’t sit still long enough,” she laughs. Around that time she moved to New Zealand with her husband and young son, where she worked in enterprise software implementation, putting software into manufacturing businesses and writing reports for the business.

Soon after, she transitioned to working for an advertising agency which she says began her love affair with building great customer experiences. “I worked on some fabulous accounts and even made some pitches for big corporations. These experiences were some of my most foundational, especially the experience I gained building cross-media campaigns to reach consumers across more than one channel,” she says.

When McDonald returned to the U.S., she worked in marketing and advertising with what she calls “some of the best and brightest minds.” Around this stage she was offered a role at a very large online retailer as a product manager. “I believe marketing is about understanding your customers’ behaviors, and product development is about using that understanding to build the right products – so almost two sides of the same coin,” she notes, citing this as an extremely rewarding and challenging part of her career working with teams that launched a number of firsts for the company.

Subsequently, she gravitated to the financial services industry, where she met her first mentor. “He saw potential in me and gave me greater and greater levels of responsibility – running not just the marketing arm, but events, the web development team, PR and finally all of the customer experience touch points,” she says.

Next McDonald received an opportunity to help create a technology culture inside a bank, the biggest and most rewarding challenge of her career. “Citi has been around for over 200 years, and has focused on technology for many decades. Citi understands it must evolve in order to compete,” she says.

Since change needed to happen at many levels – people, technology and culture — it was exactly the type of monumental challenge that she loves, working with a team she admires.

“My proudest moments have always been around building healthy cultures where people can thrive and develop. I am happiest when someone is able to advance in their career due to an environment or an opportunity we created together,” she says.

Currently there are many trends that will change the face of the industry, particularly as fintech firms are starting to get their banking licenses, which is a big game changer for traditional banks. Now, she says, it is about providing the best possible experience for the customer, including a focus on safety and security, all of which will drive innovation in the financial services space.

Supporting Diversity Efforts

McDonald finds barriers for women in financial services to be similar to many other industries; however, she finds things are improving on a daily basis across the board. “It is heartening to see the increasing number of women in all levels, but particularly in more senior positions where they can be role models and provide opportunities for others,” she notes.

She is active in Citi Women, a corporate-wide diversity effort designed to unlock the combined potential of women and Citi by inspiring progress, leading change and driving success. The program aims to attract, develop, advance and retain female talent at all levels within the company.

In addition, for the first time, she and Citi colleagues attended the Grace Hopper Celebration of Women in Computing as an organization this year, and included a number of women from Citi’s technology groups to learn, network and share.

One of the founding members of a corporate women’s group, McDonald says she has been “lucky enough to be in some pretty brilliant circles.” She even helped found an Oval (Only Very Awesome Ladies) organization that is still in existence today in Seattle.

Interests as Varied as Her Career

McDonald loves to read, garden, bake and remodel houses. “My son is now 20 so he is taking less of my mental bandwidth these days, but instead, our lives now revolve around our enormous and very hairy dog and two cats.” New to the New Jersey area and just getting settled, she is looking forward to finding more ways to give back to my community.

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Mover and Shaker: Ciara Quinlan, Head of Electronic Principal Trading FX, Rates & Credit, UBS

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ciara-quinlanBy Cathie Ericson

Few would call banking a “flexible” career, but UBS’ Ciara Quinlan has found the secret to success in balancing work with family life.

“When it comes to being a great mum and achieving my career goals in parallel, I’m a believer in having it all,” she says. “I took off the time I wanted when I had my son four years ago, and initially came back part time while managing to roll out a major project and advance my career at the same time.”

She notes that one of the reasons she hasn’t felt she had to sacrifice is that she has always been
brave in asking for what she wanted and flexible herself in making it work. Even though flexible working wasn’t commonplace in trading roles at the time, she asked for a chance and worked hard to make it a success, noting that she would have burned out long ago otherwise. “Sometimes we have to create the environment we need,” she says.

From Engineering to Banking

After earning a Ph.D. in electronic engineering, Quinlan decided to join the banking industry after learning that the industry was eager for people with her qualifications. She was offered a position at Dresdner Bank as a junior quant trader in foreign exchange, applying the same type of algorithmic and statistical approaches she’d learned in engineering.

“I was looking forward to working in a fast-paced industry and instantly took to working on a trading floor with many diverse characters and cultures. I loved the pace, intensity and unpredictability of the market.”

Shortly after she arrived, the majority of her team was redeployed, and she ended up embarking on a project to rebuild the electronic trading systems with her boss. “It was the best thing that ever happened to me as I had to learn very quickly how to manage projects and figure things out for myself,” she says. One of her first project deliveries was the EFX pricing system, and shortly after it went live, Lehman went under. “I was very quickly thrown into the deep end, and our new system was really put to the test,” she recalls. “Thankfully it handled the unforeseen market uncertainty and volatility very well.”

Several moves followed: she joined Barclays to work as a mid-level quant trader and later became co-head of the quant trading team; then she was approached by an old friend and colleague who wanted her to head up electronic FX quant trading at State Street so she went there and was able to hire a new team of top talent to build the company’s electronic FX trading systems. Then, three years ago, her former Barclays’ boss approached her to run electronic trading for FX at UBS. That role expanded a year ago to running electronic trading for FX, rates and credit.

“All the moves I’ve made have given me an interesting outlook on the culture of different banks. I know what I value from a firm and now find myself in a very happy place at UBS,” she says.

Right now that includes a large team expansion and undertaking the massive project of rebuilding electronic pricing and hedging for the eFX principal business, as well as building from scratch UBS’ electronic interest rate swap business.

“Those are the moments I look back on with the most pride — the growth periods when you’re building new things and everyone’s involved and excited to be consumed with the work. Then after the tough slog, you have the reward of seeing the new business flow in and realizing your success.”

The Many Benefits of a Career in Banking

Quinlan’s experience in banking has been overwhelmingly positive, a sharp contrast from general media portrayals she had seen prior to joining that show the business as being full of ruthless people, a rat race where you sell your soul and burn out quickly.

“It’s been nothing like that,” she says. “I love banking and have found there to be such diversity in the different roles and potential career paths. It’s actually an extremely open environment where people are very interested in your views regardless of your level of seniority,” she says, adding that even as a new starter having never studied finance and economics her views were listened to and valued.

A Family Role Model and Sponsorship Helped Show Her the Way

Quinlan readily admits that her role model has always been her father, a senior manager at IBM. “He really inspired me and I still think about how he would handle certain situations when I’m faced with them,” she says.

She most admires that he tackled every job with the same high level of positivity and hard work, even long after he had retired. “It didn’t matter whether the job at hand was boring or he would get any personal benefit,” Quinlan remembers. “He tackled everything with enthusiasm and gave each job, no matter how small, his full effort.” She also admires that he was always incredibly positive and treated everyone with respect regardless of their position. “He was successful because people wanted to work hard for him,” she notes. “I always try to apply myself with the same level of enthusiasm.”

That outlook has been important as she has progressed from building models to managing teams, where it’s vital to have open communication and ensure their motivation and buy in.

“You can have the best strategy in the world but when you’re running a business, you have to motivate the workforce who are actually producing the work and get them to buy into your plans,” she notes.

Quinlan says her career has been shaped by informal sponsorship especially with bosses who exposed her to cross-business relationships. “I didn’t know it at the time but it was massively important in how my career has progressed,” she says. “Early in my career I focused solely on delivering my projects and didn’t give much thought to networking or career next steps. My bosses encouraged me to push myself forward and gave me the exposure needed across the firm.”

And now, she repays the favor when she mentors people who are new to the industry, reminding juniors who are focused on applying themselves to the immediate tasks at hand that they have to ask for more and put themselves forward. “If exposure across the firm doesn’t land in your lap, you need to take responsibility and make it happen.”

She shares her insight with a female networking group that she started at UBS, modeled after a similar one at State Street. One or two senior women meet with a small group of more junior associates to discuss different topics — anything that’s challenging them. “It’s the perfect environment to raise issues they are having and always involves interesting debate,” she says.

In addition, she has been involved with a UBS front-office-led maternity support group that pairs a “business buddy” with an expecting mom to communicate changes and help them stay in touch while they’re out. She’s been participating as a buddy and now is about to use it, as she is pregnant with her second child.

In the little spare time she has, Quinlan says she loves travel, music and watching her little boy grow up. “I feel fortunate I get to take such an active part in his life and am proud he’s growing up learning that gender plays no role in potential career success.”

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Voice of Experience: Amity Millhiser, Chief Client Officer, PwC US

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amity-millhiserBy Cathie Ericson

When Amity Millhiser considers her career with PwC, the word that comes to mind is “expansive.” Over her 20 years with the firm, she has worked across countries, industry sectors and lines of business.

“I am proud that I have been able to have such a multi-faceted career while raising my amazing daughter,” she says. “If you’re courageous enough to pursue the opportunities that are thrown your way and think ambitiously about your future, you can have amazing experiences. I’ve spent my entire career in one firm yet had multiple careers within that framework.”

From Wineries to Tech – A Career Spanning Multiple, Varied Industries

Millhiser joined PwC in San Francisco right out of college working with small businesses which at the time were primarily wineries. She knew she wanted to go abroad so she agreed to a three-year assignment with PwC Switzerland, ultimately staying for 19 years. While there she became the first female partner as well as starting the M&A business for the region. “It was a fantastic opportunity to travel the world and work with amazing clients and a wonderful team,” she says. “Switzerland is as global and multinational as it gets.”

Upon her return to PwC’s US firm she became a managing partner and chief client officer for the Silicon Valley office. There she finds every day to be a new experience as she gets to know and understand the complex issues that her clients are facing and marry those with the experience PwC has to bring the right solution.

Since technology colors every industry sector – whether finance, retail or healthcare — she enjoys digging in to a fascinating conversation with each and every client about the impact that technology is having on their business, as they identify opportunities and risks at all different time horizons.

Sharing Lessons With Colleagues

Although Millhiser is cognizant of the many opportunities and experiences she has had, looking back she wishes she had realized the great impact she could have had from the very beginning. “You have to be willing to ask for opportunities and speak up if things interest you,” she says. “I always advocate for young people to be willing to articulate the types of experiences they’d like, and then be willing to work hard once they receive that coveted assignment. The risk you take in terms of trying new things can be the best thing you ever did.”

She also advises women to seek three things early in their career: business training, mentoring and broad experience. “Those are three differentiators that I really have benefitted from.”

As women rise through the ranks, she reminds them to be supportive of one another – not just cheering the accomplishments, but having the courage to provide feedback that will help each one continue to excel. “The Silicon Valley practice I lead is full of incredible women who lead large client teams, each of us focused on our clients and the market. We are all very supportive of each other but we know that when you genuinely want your peers to get ahead, you not only celebrate their success but offer constructive feedback so everyone rises together,” she says, noting the value of encouraging women at all stages of their lives and careers.

Becoming Agents of Change

One group that Millhiser supports wholeheartedly is HeforShe, a UN initiative designed to promote gender equality around the world. “I have always felt very fortunate to be part of a family and company that encouraged me,” she says, which is why she knows that it’s vital to commit to women and girls on a global level.

As one of the initial ten corporate HeForShe IMPACT champions, PwC continues to foster advocates as men and women work together to be agents of change all over the world. As part of its commitment, the firm has developed and launched a male-focused gender curriculum designed for global reach so they can educate others to be gender advocates and increase the number of women in leadership roles. While the firm has achieved parity in terms of intake, a major goal is to continue to retain women at higher levels of leadership.

Encouraging Financial Literacy For Young People

Another area where Millhiser is actively involved is “Earn Your Future,” a PWC US program that was launched with the idea to leverage the firm’s people, talent and time to develop the financial skills of young people in the community. “We have to help them develop financial acumen but also be prepared for jobs of tomorrow,” she notes. The initiative involves an interactive curriculum designed to give students in grades 3 to 12 financial and economic knowledge. Educators are supported with tools that include real-time feedback, guides and other resources.

In 2013 the firm set out to reach more than 2.5 million students and educators with an initial commitment of $160 million, including one million service hours. Since then, partners and staff have given over 800,000 service hours, reached 3.5 million students and educators, and made an investment of over $80 million. In 2015, they raised the stakes to $190 million.

The program has been hugely successful in terms of reaching and empowering more educators and students than we ever thought possible, while also inspiring our people to be active in the community,” Millhiser says.

Seeing the World

Having “seen the world through PwC,” Millhiser continues to indulge her love of travel as much as possible, choosing beach locations when she can.

She has enjoyed sharing that international perspective with her 17-year-old daughter. “I’ve been able to show her the world outside the community she lives in. Because of that, she has a natural curiosity and an ability to go into new situations and adapt and make them work.”

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Voice of Experience: Jeewon Kim Serrato, Co-Head of the Global Privacy & Data Protection Group, Shearman & Sterling LLP

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“You need to be true to yourself, especially as a woman in the tech industry,” says Jeewon Kim Serrato. There aren’t many women in cybersecurity so I know I stand out, but I also bring a different and valued perspective,” she says. “I am comfortable in my own skin and have confidence in my skills and capabilities, and I advise others to embrace their differences rather than trying to be someone they are not.”

voice-of-experience-jeewon-kim-serratoIn her view, combining this approach with intellectual curiosity and the willingness to learn and think creatively to come up with solutions is what will allow professionals to succeed in the industry.

Building a Career in Data Privacy

After graduating from law school at UC Berkeley, Serrato’s first job was in Washington, D.C., working on the Hill. That early experience where she was actually writing law gave her a whole different perspective, and as she says, molded her into the person she is today. “It was an incredible experience as a young lawyer to be in an environment where I truly realized that laws are made by people.”

That work also exposed her to the issue which has been a constant throughout her career and in which she has become an expert: working to balance national security issues with data privacy.

After leaving the Hill, Serrato worked at a law firm, delving into the intersection of law and policy and privacy issues related to mass media and the digital world, and then served as a senior privacy executive at LexisNexis and as Chief Privacy Officer at Fannie Mae.
The wide range of experience she has had working in public policy, business and private practice gives her a unique perspective, one that she has now brought to Shearman & Sterling in the privacy and data protection practice.

There, she is excited to be building the privacy practice within the firm’s cross-functional global network of lawyers. With offices in the United States, Canada, Latin America, Asia, the Middle East and Europe, they oversee myriad issues, from transactions and litigation to regulatory and compliance work.

“When I first joined Shearman, my vision was to develop a comprehensive, 360- degree practice. One of my priorities is to talk to our clients about their needs and help them respond when incidents break despite their best preparatory work.”

Many clients are already reaching out on advisory and compliance issues — curious about how they can prepare for major changes to the European rules coming in 2018.

The most challenging issue she identifies in the privacy industry right now is rapidly evolving regulations. Their global clients are challenged by the desire to have a consistent policy, when even the definition of what is “personal” fluctuates via a patchwork of laws. Even companies that are based in the United States need to consider that it’s likely their data is global, due to cloud storage or traveling employees.

Blending Professional and Personal Activities Helps Create Balance

Serrato knows it’s necessary to focus on work/life balance by prioritizing how you spend your day. “It becomes more difficult as we rise to more senior levels because there are even more demands on our time. And as our work becomes more demanding, our personal life also becomes more complicated.”

That’s where she believes outsourcing can be helpful, whether you rely on your family for assistance or use an online app to help with your errands. “There are so many resources you can use that allow you to outsource tasks that are less important so you can focus on those that are.”

Serrato is involved in a number of industry groups: two noteworthy ones are an appointment to sit on the Department of Homeland Security Data Privacy and Integrity Advisory Committee, and serving as a Dell Security Solutions Chief Information Security Officer Advisory board member.

Not only are these activities relevant to her work with clients, but Serrato sees other benefits to traveling and meeting with peers who are immersed in cybersecurity and data privacy issues. “We learn a lot from each other as we think through the laws and regulations that impact our clients, but these groups also serve as a platform to collectively determine best practices and industry standards to work towards,” she says.

She also appreciates the networking opportunities available at Shearman, and in particular supports the WISER (Women’s Initiative for Success, Excellence and Retention) associate-led group which encourages informal networking.

Though Serrato has enjoyed her time in D.C., she is looking forward to an upcoming transfer to San Francisco, for both personal and professional reasons. She intends to spend more time with family there, but also appreciates the high-profile tech companies with whom she can consult.

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Voice of Experience: Daria Rippingale, CEO, BillPro

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daria rippingaleBy Cathie Ericson

“When you’re first starting out, knowing the people above you have much more knowledge and experience can feel intimidating,” acknowledges Daria Rippingale, CEO of Australia-based BillPro. “But I realized at a young age that one of the best ways to really learn is to dive in and give it a go. When looking back, I feel this has been a significant factor to the acceleration of my career.”

If ever faced with a task where she may feel daunted, Rippingale says her strategy is to just jump in. “Experiencing fear or anxiety about taking on a new challenge is not a weakness. It’s what you do about it that defines you. Holding yourself back is not beneficial to anyone. You need to be focused; stay in your own lane; and be aware of your individual skills and contributions. Then push yourself forward with confidence,” she says.

Jumping in To Build the Career She Wanted

Rippingale has definitely never hesitated to jump in. She always knew she wanted to be a business leader, having grown up with a strong role model in her mom, the National Director of the Health Department in Australia. She started as a digital marketer in the gaming industry exploring metrics, and then moved to the payments department where she managed the money coming in and out of games.

“I realized how much I enjoyed working in finance and wanted to stay involved with payments. So I found a payment startup, knocked on their door and introduced myself, and that was the start,” she says.

By the age of 26 she was promoted to CEO, overseeing 14 men, all of whom were older than her. “I was aware that taking on this position at my age would come with certain challenges, but I’m a solution-oriented person; I knew I would figure it out,” she says. And that she did, expanding into Canada, Hong Kong, the United States and throughout Europe, transforming the company into a global financial institution.

Over the years, the industry has expanded, in large part because of the ubiquity of social media as well as the global nature of business. “It used to be a big leap to think about doing business with someone in the U.K., but having everyone connected has had a huge impact on business.” For example, she now works with lots of U.S. companies, where even three years ago, the prospect of billing internationally sounded like a logistical nightmare. “Geographical boundaries are disappearing as a barrier.”

Success is Never Based on Gender

Rippingale has been aware of gender barriers over the years, but believes most are self-made. While she sees how women may be intimated, that’s never been an issue for her; in fact, she says she relishes these perceived “gender barriers” because of her personality. “I enjoy when a man is condescending; it makes me instantly know they lack self-confidence, and I won’t waste my time with them,” she says.

Women have to stop thinking about gender and just focus on their capabilities. “In my company your value is in what you contribute. We don’t have men and women; we have a team of ambitious and intelligent individuals who each contribute to the positive corporate culture we’ve developed. It has nothing to do with gender.”

Although today’s payment companies are in many ways the new iteration of male-dominated banking, the men she deals with now are “younger and hipper.” That means that while it’s still a “boy’s club,” she finds this younger generation to be easier to crack as a woman — dealing with peers who are more enlightened than the gatekeepers of old.
“When I started in the gaming industry there were 53 guys, and three women: the “model,” someone in customer service and me doing analytics. I spent three days feeling diminished and decided I was done with that: I was here to achieve and moved on to do that.”

Women Uniquely Qualified for Startups

Women and startups are an ideal match because of natural personal traits that women exude, from their capacity for multitasking to their propensity to display grit – the ability to bear and get through challenging situations.

Where others see inequality, she is impressed with the amazing strides women have made: Considering that women in her grandmother’s generation didn’t even work, she views as incredible the rise in stature women have achieved, with essentially a history of only 50 years in the workforce.

“The women I have hired are all very successful and very confident; I tell them to be empowered by that success, to always remember how they got to where they are.”

A Role Model and Champion

Active in a Women in Payments group, Rippingale is also highly involved in one-on-one mentoring to help women just starting in the industry.

She also is an avid supporter of the fact that it need have zero impact on a woman’s career when she has a child. “We are a digital business, and I have built the company to offer great maternity and paternity leave, with multiple options for how we make it work.”

Some women might want a home office to help them get back in the groove before they return and others may need increased flexibility. The company offers a reintroduction program and employees are encouraged to stay involved as much or as little as they want while they are out.

“I’ve been on the journey with friends and family when they were making this life-altering transition. I can only appreciate just how hard it would be to take your head out of work mode, care for a baby and then jump back in. I have great respect for any woman (or man) who is juggling the work-life-family balance. As a CEO, I think it’s imperative to set the standard by providing the required support and flexibility to allow them to continue a thriving career alongside their new family priorities.”

Making Friends Wherever She Goes

With all the travel she does for work, Rippingale enjoys developing friendship circles around the world. “I love meeting people and learning about their culture, their stories, and the nuances that make them unique.” In what little spare time she has, she enjoys learning languages and experimenting with cuisines of the world. “I am obsessed with vegetarian meals and love cooking ethnic foods; it’s the perfect complement to my affinity for all things global.”

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Voice of Experience: Rebecca Kniesel, Head of Institutional Marketing, Voya

rebecca-knieselBy Cathie Ericson

“To stand out, I suggest volunteering for projects outside of your comfort zone,” recommends Voya’s Rebecca Kniesel. “I wasn’t always comfortable at certain points along my career journey; but, you have to be open to these situations and get as comfortable being uncomfortable as you can.”

Charting Her Own Course in the Financial Industry

Kniesel began her career with the consumer retail banking division of MBNA America (now Bank of America), one of the first credit card companies to pioneer affinity marketing.

Living in Wilmington, Delaware at the time, she decided she wanted to head to the bright lights of the big city and went from credit card banking to investment banking, where she was hired in a marketing capacity for the syndicated loan division of Bankers Trust. Two months after she joined the firm, it merged with Deutsche Bank and her role changed significantly. Rebecca had the opportunity to join DB Capital Partners in which she focused on marketing and sales for 3rd party private equity funds. It was a big shift from credit card marketing and was a true investment banking job which included lots of late nights and long hours.

She then pursued an opportunity with Chase Private Bank – just three months before its merger with J.P. Morgan – and she spent four years there in marketing for the Latin American and U.S. private banks, as well as two years in marketing for institutional asset management. She later moved on to BlackRock (which had just announced its merger with Merrill Lynch Investment Management), in the dual role of marketing and consultant relations. Following this period, she returned to J.P. Morgan in a marketing capacity focused on fixed income for about seven years before she learned of a great opportunity at Voya, which she says has been a fantastic opportunity to round out her background.

Kniesel’s career path includes 3 mega-mergers early in her career, which is a big reason she’s had to learn how to be comfortable in uncomfortable situations. “The industry changes constantly, your career can change on a dime and you need to be flexible enough to navigate that”, she says.

As Kniesel’s degree was in psychology, she’s had to learn a lot on the job and is a big proponent of encouraging new entrants to the field who may not have a finance or mathematical background. “I have charted my own path and have had to teach myself on the job,” she says. “I am proud of the financial and technical expertise I bring to my current position and know that if I can accomplish that, others with a similar educational background can too.”

She says that initially she felt self-conscious working with people who had learned the fundamentals of the business in school. But what she realized – and shares with younger professionals rising through the ranks – is that the industry is “not impossible to learn, even though people might make you feel like it is. Don’t be afraid to ask questions; people expect you to,” she says.

Currently, Kniesel is immersed in planning an annual investment seminar that the institutional division runs each year for its top clients, from institutional plan sponsors to defined contribution plan sponsors, insurance clients and consultants. The event includes a day of presentations, coupled with breakout sessions and topped off with a keynote speaker and dinner.

“I’m really excited about the agenda we are building for this years’ seminar, with current topics that showcase Voya’s capacity as a solutions provider,” she says.

It’s an exciting time to be in the industry, given the changes wrought by the digital age and what that means for financial services. With everyone constantly on their smartphones and being bombarded with options that allow them to make decisions on everything from groceries to finances on their devices, traditional marketers have an intriguing task to take a business that’s traditionally relationship-oriented and build marketing programs and content that breaks through the noise.

The Challenge of Increasing Women’s Participation in the Financial Industry

Expectations of the traditional work environment in the financial industry typically lack flexibility, which Kniesel sees as an ongoing, but unnecessary, barrier to keeping women in the industry. “As a manager, I want to understand what helps my team achieve their best at work,” she says, adding that all employees have responsibilities outside their time in the office, whether that’s caring for a sick parent or a young child. “If they work better at 3 a.m., then that’s what they should do. It’s unfortunate that in the financial world, that mindset is still not pervasive because it creates a barrier for women and not just those with children: ‘Do I spend my life in an industry that doesn’t allow me to juggle all aspects of my life the way I need to, or do I go elsewhere?’”

She says that women who have achieved success in the industry need to continue to push the envelope to make this “a career our children will continue to want.”

As a member of Voya’s New York Women’s Network, Kniesel is excited about partnering with the human resources department on a related area – welcoming women back to the office after returning from maternity leave. Companies have made huge strides in this area and she’s passionate about doing even more, particularly as the transition back to the office after maternity leave is an incredibly vulnerable time. If not handled well, it can significantly impact a woman’s decision to remain in the workforce.

She knows the challenges well, since she herself has a three-year old son who “is her whole world and has changed the way I look at life and work.”

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Voice of Experience: Dalia Ahmed, Executive Director, Ultra High Net Worth, UBS

Dalia AhmedYoung professionals tend to take everything personally – whether comments come from colleagues or clients. “It’s easy to be sensitive, but it’s important to realize that most of the time, the comments or feedback are not personal. Developing a thick skin, especially in a male-dominated environment, will help you succeed,” says UBS’ Dalia Ahmed.

Deep Relationships Propel Her Career

This observation has helped Dalia throughout her professional life, which has been focused on building strong relationships with her clients. She began her career in London, joining Coutts bank where she spent 8 years covering private banking clients in the Middle East. After the birth of her second child, she took a short break and then joined UBS in Dubai as the second client advisor in their first advisory office in the region, a position she still holds.

Over the past decade she is proud of the trusted advisor role she has achieved. “That’s the most important factor in this business — becoming part of clients’ lives and not just as a banker,” she says. “I’m proud of the deep relationships I’ve built with these amazing families and being invited to share in their success stories.” She notes that by nature her ultra-high net worth clients are very interesting people and although their conversations begin around finances — investments, risk and return, performance, etc. — these exchanges frequently turn to the personal side.

They’ll discuss issues much closer to the client’s heart, such as the client’s vision for the family and family business, whether the children are ready to take over and any specific educational needs for the next generation.

“Research shows that less than one-third of family businesses survive the transition from first to second generation ownership and another 50% don’t survive the transition from second to third generation. I meet many families whose main concern is how to efficiently transfer their business and wealth to the next generation,” she says.

One of the areas that she finds most interesting in the industry today is the rising trend of ultra-high net worth families setting up family offices for intergenerational wealth transfer. This has highlighted the need for private banks to think more radically about how they can best serve this type of client, she says, because a traditional wealth management setting will not be sufficient for the sophisticated demands of these family offices. “Increasingly private banks will have to include services such as global custody, lending, execution, investment banking, private markets and more, which of course not all private banks have the scale to provide.”

In her client-facing capacity, every day is interesting because she is constantly meeting new people and forging new relationships. “You have to make sure you are always doing something satisfying and inspiring or every day will be challenging. If you don’t enjoy what you’re doing, the pressure and hours can be very difficult to manage,” she says.

Helping Women Be Successful in the Industry

Although the industry begins with a 50/50 male/female split, female attrition happens as they rise through the ranks. The question, Dalia notes, is why women leave the industry. She believes that there are no structural barriers or barriers caused by overt hostility but rather an ingrained unconscious bias about what it takes to perform at the top, such as being aggressive and determined, attributes people are less likely to ascribe to women. “These issues are very subtle which makes them harder to identify and tackle,” she says.

The male-dominated culture can be intimidating to talented women, she says, but notes that much of the reason there are more men are because of lifestyle issues: late nights and overnight travel become more difficult, and many women are likely to look at that lifestyle and decide they don’t want to do that. “Financial industries need to change their old-fashioned work practices that reward people for working at the office late at night, because it’s not conducive to many women who have families at home,” she says.

That’s why she encourages women who have risen in the industry to realize the importance of being role models for younger women. “Since we are a minority it’s more important than ever for us to help each other, to be visible. We have to show the new female entrants that women can succeed in these positions.”

She is proud of the initiatives UBS has developed to support women and create change within the culture, such as the Diversity and Inclusion Council that ensures that the firm creates an open environment. As a service organization with a diverse client base, it’s particularly important that they be visible with a diverse workforce.

The firm is in the midst of rolling out training in unconscious bias that all wealth management staff will take by 2018. The training will cover gender and other diversity issues that she says forward-thinking firms have to learn how to acknowledge and overcome. One area ripe for additional focus is supporting and retaining women after maternity leave.

Ahmed participated in the Women in Wealth Forum, an annual event that provides a platform for women to network and bolster their skills and is very supportive of the Leading Women of Wealth Management group, which provides coaching and helps women develop their talents. She encourages young professionals to seek out similar groups to help them nurture relationships with a trusted mentor who can offer advice in the challenging situations that are sure to arise.

In her free time, Dalia likes to read and cycle, but most of all she focuses on spending time with her children, a son, age 14, and a daughter, age 11. “I love to listen to their views and opinions; their simple perspective helps me to cut through all the unnecessary complexities of life.”

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Voice of Experience: Sandy Rubinstein, CEO, DXagency

voice-of-experience-sandy-rubinstein-ceo-dxagencyA second-generation immigrant from Chile, Sandy Rubinstein grew up in a close-knit Hispanic community in Miami with a family and heritage which had a sizeable influence on her career.

Her parents arrived in the country not knowing English, and her mom learned it along with her while they watched Sesame Street together. In fact, her mother wouldn’t speak Spanish outside the house, because she felt that the family was here and should conform to this country’s norms.

Rubenstein saw they came to this country not expecting anything, and that philosophy has stuck with her. “My parents instilled in me the mentality that you have to make your own path; you can’t expect anyone to hand anything to you.”

From Music to Advertising

A classically trained opera singer, Rubinstein attended college to study music, but also earned a companion degree focused on marketing and business administration.

“My parents were so excited that I was studying music — part of it was that they believed I shouldn’t waste an opportunity — but I assured my mom I needed to also take business courses to have something to fall back on,” she recalls.

And once she took an advertising and marketing class, she was hooked. “Part of it was the performer in me; I wanted to make people feel something, and advertising has the power to do that,” she says.

After 20 years in television marketing, she joined DX in 2009 out of a desire to get more involved in the digital realm. For several years she had been recommending media plans with more focus on digital initiatives, but when she received little traction she realized it was time to do something different and has never looked back.

As marketing evolves, she has noticed that clients are once again investing in email, which she sees as a smart tactic that she is thrilled is coming back in a big way. And since video continues to be a medium that will grow, the agency recently added a video studio for its clients.

Mentoring Brings Important Lessons to Others

Although she’s achieved much work-related success launching new products and supporting brands, Rubinstein says that her proudest moments have come from her mentoring efforts. “It only takes one person to change someone’s life, and nothing else has the same long-term impact as making a difference in someone’s career,” she says, noting that she has had a mentor almost from Day One who still guides her. She hosts interns in her office and also helps at the local high school which has a track with a marketing focus.

The lessons she teaches young women range from the practical — “Dress for the job you want, not the one you have” — to the philosophical, such as knowing themselves before they expect others to know them. “It’s difficult for people to view you how you want to be viewed if you don’t see yourself that way,” she notes.

She also warns women they are likely to have to work twice as hard as their male counterparts, especially if they choose to be a mom and have a thriving career. “I knew that I would have to make certain sacrifices, but it was worth it to work twice as hard at work to cover everything so I could focus on my babies at home.” She notes that women will have tough times personally and professionally but they have to work to build the career that allows them to achieve what they want.

Over the years, Rubinstein has learned the wisdom of not taking everything so seriously. “You have to laugh at yourself and stressful moments,” she says, citing the importance of perspective. “Unless you’re a doctor in the NICU, the issue is probably not as critical as you perceive it to be, and once you get out of the vortex and whirl of negativity, you’re likely to have better judgment regarding a given situation.”

Although she has never felt that being a woman has held her back, she notes that women do have common stereotypes with which they’ll be labeled, especially as they become more successful. A passionate woman will be called emotional, and a strong one will be seen as bossy.

“That’s not going to change but what has to change is that women have to say ‘So what? Move on. I don’t care if you see me as bossy.’ As women we are constantly looking to please everyone because it’s in our nature. But we have to start by pleasing ourselves too.”

She also believes that women need to have each other’s backs. “Be nice. Prop each other up, rather than tearing each other down,” she says. “Women tend to get in each other’s way, and we need to build each other up instead.”

Instilling Values in Her Children

Rubinstein has made sure that her twin boys, now age 14, have always embraced philanthropy. At every birthday, for example, they choose a charity and have their guests bring a donation to support it. Over the years they have raised money for a “Cookies for Kids” cancer program and their local fire station, which had lost its Jaws of Life in the 9/11 tragedy. “My kids had just learned what Jaws of Life were when they visited the station, and that year they wanted to help replace them.”

She models the behavior herself, having started a non-profit education foundation to raise money for STEAM grants for local kids in kindergarten through 12th grade, and has raised $130,000 thus far.

The family also loves to travel, having just returned from Italy, but relish any time they are together. “My kids went to summer camp, and we couldn’t wait to have them home so we could have adventures together,” she says. “The four of us are thick as thieves.”

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