Voice of Experience: Doreen Lilienfeld, Partner, Executive Compensation & Employee Benefits Group, Shearman & Sterling

doreenlilienfeldBy Melissa J. Anderson (New York City)

Doreen Lilienfeld, a partner in the Executive Compensation & Employee Benefits Group at global law firm Shearman & Sterling, has established her reputation as a leading executive compensation lawyer through exceptional client work and thought leadership initiatives like article writing and speaking opportunities.

But when it comes to career advancement in the legal profession, Lilienfeld believes that establishing and maintaining relationships is key. In her experience, networking matters.

“Everyone is a potential contact,” she says. “You never know where the people you meet along the way are going to wind up. You see people move from one path of life to another. To the extent that you can network earlier in your career rather than later, and keep those contacts, it is incredibly useful later in life.”

Part of that networking should be internal, she suggests. Having climbed the ranks at Shearman & Sterling’s Frankfurt, London, Bay Area, and New York offices, Lilienfeld emphasizes that the benefits of finding a role model can be considerable. “Get a mentor,” she says. “It’s the most critical piece of advice I can give anyone for career success.”

But earning the support of colleagues is not automatic. It requires delivering on commitments and nurturing key relationships all along the way. “You need to stay connected and have a team dedicated to your success throughout your career,” she explains.

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Voice of Experience: Claire Warnes, Partner, KPMG

ClaireWarnesBy Melissa J. Anderson (New York City)

According to Claire Warnes, Partner in KPMG’s Risk Consulting practice, one of the best parts of working in consultancy is that there are lots of moments which make you feel proud. “There’s not one occasion, but many. That’s why I like working for a consultancy with so many clients. My proudest moments are when we work as a team with a client, bringing diversity of thought to bear and really making a difference in how our clients implement change,” she explained.

Warnes spent nine years in three roles in the UK public sector before being headhunted into KPMG’s Public Sector practice. “At KPMG, I’ve done eight years work as a management consultant, implementing and designing change in the public sector, for universities, defense, and increasingly in healthcare,” she said.

In addition to those eight years, Warnes cited a valuable assignment in Frankfurt that propelled her career forward. “In 2009, I was asked to take on a strategic secondment to be the Executive Assistant to the Joint Chairman of KPMG Europe. It was a fantastic experience and one of the highlights of my career.”

Then, last year, after ten years with the firm, she was promoted to partner. “Now I’m back to consulting, working with lots of clients and helping them think about the future and plan for the significant changes they are facing, and what that could mean for their business.”

Currently Warnes’ work is mainly around the regulation of healthcare. “I’m passionate about that, and the role of regulation in enhancing the quality, efficiency, and patient safety of healthcare. I think it makes a difference.”

She added that she is also interested in how the economy will impact consultancies moving forward. “In austere times which many mature economies are facing now, the role of consultancy is extremely important. Even when money is tight there is an important role for consultants to play and add value to organizations.”

Finally, Warnes added, she is involved in a number of projects at the firm, including serving as a sponsor for its women’s development program and participating in a forward-thinking project involving a group of young partners. “It’s thinking about the future and it’s very exciting,” she said.

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Movers and Shakers: Sue Allon, CEO and Founder, Allonhill

Sue AllonBy Melissa J. Anderson (New York City)

According to Sue Allon, CEO and Founder of Allonhill, a mortgage due diligence and credit risk management firm, one of the most important things people can do when they are building their own companies is speak up, and showcase their thought leadership.

“When Allonhill was founded in 2008, I couldn’t imagine that the financial crisis would get worse. At the time, Wall Street couldn’t speak for itself,” she said. “It was being indicted and servicers were being indicted. But a statement had to be made: mortgages were still a good investment.”

She continued, “Many people felt they couldn’t talk, but I felt I could speak for the industry. There were flaws that needed to be corrected, but I didn’t feel there were problems with mortgage securitizations as a product. So I embarked on a press campaign to talk about mortgage securities.”

It was risky, she continued, but worth it. “It was such a wonderful boost for my company. I was jettisoned to a highly recognized position in the industry. And even when there was no market, we became the number one firm.”

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Voice of Experience: PJ Johnson, Managing Director and Global Head for Anti-Money Laundering and Sanctions Compliance, Citi

pjjohnsonBy Melissa J. Anderson (New York City)

To Pamela (PJ) Johnson, Managing Director and Global Head for Anti-Money Laundering (AML) and Sanctions Compliance at Citi, mentoring and developing individuals is a chief source of satisfaction.

“I’ve worked on pieces of important legislation, including the USA PATRIOT Act, and a number of significant money laundering cases. But, as I turn 50, what I’m most proud of is my role in creating a community of AML professionals.”

“Whether it is people with whom I have worked or others who have worked for me, it is satisfying to see people develop and move up the ranks to larger and more challenging positions.”

She continued, “As I look at my team in particular, I’m very humbled to be surrounded by such experienced and dedicated professionals. I’d be delighted to think that I may have contributed in some positive way either through mentoring or educating people about AML.”

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Voice of Experience: Lois Herzeca, Partner, Gibson Dunn

LoisHerzecaBy Melissa J. Anderson (New York City)

“When I was in law school I fully intended to become a litigator,” began Lois Herzeca, Partner at Gibson Dunn.

After graduating cum laude from Boston University School of Law, Herzeca joined the Antitrust Division of the Justice Department in Washington, D.C. through its Honors Program. Based on her experience working in the Antitrust Division, she decided to move into the private sector as a litigator, and took a position at Fried Frank in New York in antitrust litigation.

“Then I realized I was much more interested in corporate practice,” she explained. “I enjoyed the creativity in structuring deals and the strategic thinking involved in executing deals. I felt I could become a real advisor to clients.”

Eventually, Herzeca became a partner at Fried Frank, spending over twenty years with the firm. Then, three years ago, she moved to Gibson Dunn. “I felt a larger global practice created a better platform for my client base,” she explained. She is now a member of the firm’s Mergers and Acquisitions and Capital Markets Practice Groups, and she is co-chair of its Fashion, Retail, and Consumer Products Practice Group.

She says one of her proudest recent achievements was being named a Dealmaker of the Year for 2012 by The American Lawyer. “I’m honored to be among that group. There are relatively few women partners in law firms who work on contested M&A transactions,” she explained. Additionally, she continued, she is extremely proud to have been honored with her alma mater’s Alumni Pro Bono award in 2009 for her many pro bono activities.

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Movers and Shakers: Jean Balfour, Director, Bailey Balfour Consulting, Ltd.

jeanbalfourBy Melissa J. Anderson (New York City)

“Dare to dream,” advised Jean Balfour, Director of Bailey Balfour Consulting. As an organizational development consultant and coach for executive women, Balfour has extensive experience working with women across many industries, and she said one of the key things she has learned from them is the importance of developing your aspirations.

“Dare to think big and dream big,” she continued. “And along with that, find a mentor and sponsor right from day one, who can help you achieve your dreams.”

She advised senior women to “really, really proactively support younger women, and encourage your male peers to mentor or sponsor young women as well, so they have as much support as they can get to move along in their careers.”

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Voice of Experience: Julia Hoggett, Head of Covered Bonds and FIG Flow Financing EMEA and Head of Short Term Fixed Income Origination EMEA, Bank of America Merrill Lynch

juliahoggettBy Melissa J. Anderson (New York City)

One of the most important lessons Julia Hoggett learned early in her career was the importance of being herself. Now Head of Covered Bonds and FIG (Financial Institutions) Flow Financing EMEA and Head of Short Term Fixed Income Origination EMEA at Bank of America Merrill Lynch, Hoggett explained, “Bringing your whole self to work can only help you advance.”

Early in her career, she hadn’t quite learned this lesson. “There was a sense that I needed to assume a professional face, both as a woman and as an investment banker. Luckily I learned that bringing the real me to the office made me better at my job.”

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Lale Topcuoglu, Portfolio Manager, Managing Director, Co-head of Global Investment Grade Portfolio Management, Goldman Sachs Asset Management

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Lale TopcuogluOriginally from Turkey, Lale Topcuoglu studied economics and politics at Mount Holyoke College in Massachusetts and then took a job as an analyst at Goldman Sachs in 1999, where she quickly ascended the ranks, being named a managing director just ten years later. “That’s probably my proudest achievement,” she said, “getting promoted to Managing Director and co-head of the Investment Grade business. We manage $70 billion in assets and I co-lead a team of 22 people in the US, Europe, and Asia.”

“When I look back at my career, Goldman Sachs has been a land of opportunity for me,” she added.

How did she rise so quickly? Topcuoglu said one of the skills she’s glad to have learned in her career is the ability to negotiate. “Nobody really teaches you this,” she explained. Getting a sense of how your company really works is also important for career growth, she continued. “I learned pretty quick on the job, if you can understand how organizations work, the administration, it will help you.”

Finally, she said, learning self awareness was important for her advancement. “Be aware of your little professional quirks,” she said. “Sometimes I make knee jerk responses, and I’m learning to start with a yes, instead of a no.”

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35 Under 35: Angela Best, EMEA Group Tax Controller, Nomura

AngelaBestBy Melissa J. Anderson (New York City)

According to Angela Best, EMEA Group Tax Controller at Nomura, one of the lessons she wishes she had learned earlier in her career is to be more open to new experiences. “It’s to be less serious and enjoy life – not to be frightened to make mistakes,” she explained.

After graduating from the University of Kent, Best began her career at an accountancy practice, and when she received her chartered accountancy certificate, she moved to the investment banking industry, working in tax. “It was a smooth move,” she said. “I haven’t encountered any stumbling blocks.”

“When Lehman happened in 2008, I saw an opportunity that I was unlikely to encounter again.” Nomura acquired parts of Lehman Brothers’ Asian and European investment banking, fixed income and equities division, she explained. “It was the opportunity to marry two very different cultures together, however, it wasn’t just the people factor, but also the new working practices. It was a very challenging and unusual time.”

In fact, Best says her most interesting roles have involved working through technical projects in the context of change. In her last role, she led a team designing how a unit of previously outsourced work would be brought in house. “As part of it, we had to recommend the software we’d be using – which meant presenting to senior management, performing due diligence, and selling how it would work in house.”

Participating in the team brought her significant visibility with senior management, she explained. “I had to prepare and present our cost benefit analysis – it was very exciting.”

Currently she is working to coordinate with Nomura’s Indian service center, and enjoying the unique opportunity to learn about a new culture. “Within my department I look after European taxes. There’s a lot of reconciliation work that we’re looking to offshore to India,” she explained.

Best said she is paying keen attention to the challenges the banking industry faces. “There are reputation issues currently. It’s something everyone in our industry should be following, just to see where the industry is going.”

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35 Under 35: Toni Mohammed, Client Manager, Marsh USA

ToniMohammedBy Melissa J. Anderson (New York City)

One key element in career advancement, according to Toni Mohammed, Client Manager at Marsh Inc., is being assertive about your goals. “I would advise young women to not be afraid to ask for what you want, work hard, keep pushing, and be patient.”

The other, she said, is building relationships. “This industry has a lot to offer. It’s also a very small world, so leveraging your networks early on will help you get to where you want to be.”

“I like to say I’m a child of insurance,” she said with a laugh, explaining that her mother worked in the industry for 25 years in Trinidad. “I kind of grew up in the industry.”

Born and raised in Trinidad and Tobago, Mohammed came to the United States on a scholarship, and went on to study math and actuarial science at Howard University. After completing actuarial internships at CIGNA, Nationwide, and Deloitte, she realized she wanted more client interaction, and took a position as an insurance broker at Marsh in Washington DC. As part of the firm’s Risk Analyst program, she developed a keen interest in Multinational, and within months of attending training in Atlanta, Georgia, she started working for the Multinational Client Practice as an International Property and Casualty broker.

Now Mohammed is a team leader and Multinational Advisor at Marsh, and co-leader of Pride@Marsh (the company’s LGBT affinity group). Mohammed has also become a sort of Middle East insurance expert. She recounts one of her proudest achievements as her work in this area.

“One of my defense clients had an auto fleet in Afghanistan, Iraq, Lebanon and other Middle East countries where certain local coverages were contractually needed. You can imagine in this economy it was a great challenge getting insurers to even offer these coverages, much less consider the aggregation risk concerns and cost,” she explained. “Fortunately with the expansive Marsh network and partners in London and the Middle East, I was able to find a solution for our client.”

“But I really have two jobs,” she continued. “My day job and my ‘gay’ job.”

“My day job of advising clients on what’s going on with international insurance and trends that can affect them is very exciting. Sharing knowledge with my teams and being part of a dynamic environment means that I’m always on my toes to see what works, how to improve, and how to change,” she explained.

“Balancing compliance with international regulations and cost analysis for international insurance programs are of key interest to me. With increased global scrutiny and the poor economy, there is greater tax activity by local governments when there is non-compliance with the insurance regulations. In some instances there are also hefty fines and penalties, including imprisonment, that our clients may be exposed to, so helping to explain international insurance regulations is key.”

“In my ‘gay’ job,” she continued, “we are also on the verge of change. With my co-leader Cris Castillo-Brizard, we have re-energized the LGBT group at Marsh called Pride@Marsh. We are getting involved in community and education. We are creating ties to business in ways that have never been done before. I am very proud the Marsh leadership is behind us and continues to do the right thing.”

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