By Cathie Ericson
“I always assumed that one needed to have studied a particular major in college in order to work in that industry, especially finance, but I have come to find that some of my most successful colleagues and classmates found their way into their respective industries by ‘falling into it’ in different ways,” says APG’s Svetla Marinova.
“I believe they are so good at what they do because their minds approach problems differently from the minds of their peers who have all been trained in the same traditional way, and they are valued for that very reason.”
Marinova’s creative career path certainly bears that out.
Seizing Opportunities Throughout Her Career
Marinova always thought she’d pursue academia and focused on preparing herself for a PhD in Economics, with a focus on Environmental Economics — even spending an extra year in college focusing on math, and then earning a Master’s degree in Climate & Society at Columbia straight after college. But when she eventually started her PhD, she realized a research career did not fit her energetic and outgoing personality.
“I wanted to be in a dynamic environment where my actions could effect change right away,” she says, deciding to join a consulting firm as a way to figure out what industry she might be drawn to. She joined what was at the time a startup called AlphaSights, now a 400+ employee firm, as the first female employee in their NYC team of 10.
After a year she fell into fintech, becoming the first employee of S&P Global’s Innovation Lab, where she developed an affinity for the field and the Lean Startup methodology as it applies to software development, particularly driven by an interest in deriving insights from data through data visualization.
While at S&P Global, she created a summer internship competition called Mission Possible, where interns form teams and act like startups, developing a product over two months. The competition culminates with a pitch before senior management who act like VCs; for four summers she oversaw the program with 50+ interns each summer. She also created more than a dozen proofs-of-concept with her S&P team, and initiated numerous initiatives meant to stir the organization into more creative thinking.
While there, Marinova also designed and product-managed a smart search tool at a time when natural language processing was in its infancy as applied to financial services. Within six months, her team had a cutting-edge product that they had built iteratively with zero prior experience in natural language processing and with limited resources.
“It was incredibly rewarding, and I learned that I’m capable of picking up any project and making it successful if I do the proper research and am given freedom and support to execute,” she notes. “I also taught myself to pick up the phone and ask for advice when I don’t know how to do something, which saves a lot of time and worries. Of course, being surrounded by top-notch engineers with the same can-do attitude was essential to our success.”
And, she learned that while her ideas were sometimes outside-the-box, and that not everyone was going to get them or love them immediately, there are opportunities and challenges in the fintech space that merit exactly that type of bold and unconventional thinking.
In an effort to learn more about data architecture, she spent two years working on strategic data sourcing initiatives at Deutsche Bank, where she co-led an employee resource group called Career360, a knowledge-exchange program between junior and senior employees. The program has grown significantly and exists in many countries around the world now.
During that time she began the Executive MBA program at the Wharton School of Business, a two-year program with the same curriculum as a full-time MBA, but with the caveat that all students also work full-time during the program. She graduated in May 2018, proud of her success at completing the intense program.
In addition to learning about finance, marketing, general management and entrepreneurship, she says she gained confidence and traveled the world with classmates on global knowledge trips to Japan, Argentina and Spain, to name a few, along the way meeting incredible people from a variety of industries and geographies.
She joined APG, the largest Dutch pension fund, in September 2017 as vice president and manager of innovation, where for now at least, she is again a one-woman show building out an innovation program for the New York office using the lessons learned from her Innovation colleagues in The Netherlands . This entails scouting out the fintech ecosystem for startups who could be potential strategic partners; coaching experiments or internal R&D projects aimed at delivering products and services for the pensioner of the future or aimed at improving the investment process; and creating and sustaining a culture of innovation via various internal initiatives from a speaker series to ideation sessions.
“I’m excited to be building cutting-edge tools for a company that believes in and supports innovation,” Marinova says. “I feel encouraged to explore ideas in the areas of fintech that truly interest me, such as artificial intelligence, blockchain, and sustainable investing.”
At the moment, she finds she’s most enthusiastic about their experiment with alternative data, which she researched thoroughly prior to designing by talking to industry peers, alternative data vendors, platform providers, internal investment experts and compliance professionals. “It’s a truly collaborative effort between our New York and Amsterdam offices, and I cannot wait to find out what we will learn from this experiment about how to tackle the growing volumes and types of data that are becoming available.”
A Full Life Inside and Outside of Work
Marinova participates in the APG U.S. Women’s Forum, which is an initiative that seeks to enhance careers by providing opportunities both within and outside APG to share information, strengthen skills and develop rewarding professional relationships. In addition, they seek to serve the broader community, especially in ways that have a positive impact on women and girls. For example in February, they raised money for the Young Women’s Leadership School, whose students visited the office for job shadowing, mock interviews and case coaching.
Starting with her first role model, her father, Marinova mentions that all of her mentors and managers thus far have been male, and she looks forward to the day when she will end up reporting to a woman she can look up to. “Unfortunately women are massively underrepresented in the fintech space, especially in senior roles,” she says, adding that she catches herself counting the number of females on panels or even in the audience at major fintech conferences. “I think it is slowly growing, but still remains within double or even single digits. I hope to change that.”
Outside of work, Marinova engages in a wide variety of hobbies, including travel, music, dabbling in arts, and reading – from books that help her retain her professional edge to fiction. She has served as a volunteer coach with FIRST Robotics and NFTE, where she taught entrepreneurship to high school students, and looks forward to re-engaging in her mentoring and volunteer activities after completing her MBA.
And all of her efforts are guided by an underlying principle: “Don’t cut corners when it comes to your personal effort — make things happen using the highest standards that you can think of,” she says. For her that manifests itself as thinking of every project as an opportunity to showcase existing skills and learn new ones. She’ll seek advice from online journals or others in her network, but isn’t afraid to make up her own way of doing something if she finds that nobody is doing it quite right. “When nobody has figured out the solution yet, that’s a great opportunity — this is how new products and processes are born out of a blank canvas,” she says.
Equally important to her is always maintaining integrity, and always being kind to everyone you meet along the way, eager to help others and to hear them out. “As Ray Dalio says, it’s essential to surround yourself with smart people who are not afraid to disagree with you — this brings us all closer to the truth.” “Being open to entertaining opposing views is how you create trust with people, and they will always remember if you’re someone who is willing to fight for the right thing,” she says. Not to mention, of course, that besides being a recipe for career success, it is also one for living a happy life and sleeping well at night.
Mover & Shaker: Emilie Poteat; Senior Management Associate at Bridgewater Associates
Movers and ShakersAs a sociologist by training, Emilie Poteat has learned that it’s simply a fact that things will work out when you stop trying so hard and get out of your own way.
“You have to continue to make pathways to a goal regardless of how many iterations there are and realize that you have to embrace the ability to admit failure, evaluate what could go better and try again,” she says.
An Ongoing Path to Self-Reflection
Poteat started her career in a non-traditional way, earning a PhD with a focus on economic sociology – researching how markets form and how companies function and evolve in markets. While she had initially thought she might pursue a future in academia, her wife suggested she work at one of the companies she was researching instead. She spoke to Goldman and ended up working in their transformation department where they were focusing on organizational design — looking at their operations and determining what could be improved and how they could learn from others in the marketplace.
When she was contacted by a venture capital firm in Philadelphia, she was intrigued at the prospect of occupying the operator seat as she had been looking into small companies that Goldman could invest in and had been seeing interesting businesses bubble up. She took the role, where she led a turnaround on an insurance company, splitting it into two and bringing it to profitability.
While it was challenging given all the dimensions, she found it fascinating and names it as one of the professional achievements she is most proud of. “Bringing that company to profitability was both exhilarating and terrifying,” she says, noting that the culture was poor which led employees to have low expectations. She worked on an all-encompassing change from business processes to product changes and interpersonal relationships, relishing the chance to drop down and look at a problem and then zoom up to the bigger picture.
And therefore she found herself at a crossroads when she finished that engagement, trying to decide if she wanted to continue operating companies, which combined her love for research with her proclivity to flipping companies around, or did she want to take some time to work on herself? Ultimately she decided to come to Bridgewater where she is focused on the systemization of management, while learning more about how she operates as a leader. “I am investing in myself by taking a role with a smaller scope, yet one that I know will help me be more impactful when I eventually step back into the operator position,” she says.
For now she believes that her time at Bridgewater will help show her strengths as well as flaws, as she works with a team who is poised to provide honest feedback.
Building Relationships as a Key to Success
After spending six years getting her PhD and teaching university classes, Poteat expected the corporate world to be cutthroat, but she has found it to be extremely humane. “It has been incredible to meet smart, hard-working, dedicated people who have gone out on a limb for me,” she says. As one example, she cites Johann Shudlick, then the head of the LGBT network at Goldman and now driving diversity at Bridgewater as the one who went to bat for her, finding out her goals and then taking the time to open doors by introducing her around the Street.
While she acknowledges the business world can be competitive, she finds there is still a camaraderie around it. “I’ve been happiest when I’ve helped others around me grow, and I’ve been able to make great friends and form strong relationships over the years,” she says, noting that academia involved more quiet work without that interplay.
As she reflects on those she admires, she says she finds herself noticing those who can objectively view themselves in the moment. “Yes, you have to consider your numbers and impact and how you effect change, but what I admire is people who are able to genuinely lead by understanding how their leadership style impacts the group.”
Always looking for those learning moments, Poteat cites one that has stuck with her. She relays how she had signed off on what ended up being a big bill, before she realized she had gone through the motions and pushed it forward without checking it carefully enough. “It ended up being impactful, and I should have verified that it wasn’t exactly what I thought it was,” she says, saying it helped her self-reflect on how her bent toward action orientation helped propel the blunder forward. “While this focus on action is generally a strength, it can be more of a hindrance when I pair it with bravado,” she says, noting that it’s important to always slow down and take that extra step. “I learned the importance of balancing confidence with humility, which I try to work on every day,” she says.
While Poteat knows that it can be hard for some people, she says that it would be impossible to her to not be out at work. And she’s found it to be a benefit to her career as it opened up relationships in affinity groups, as well as allowing her to help others on the personal front. In fact, in larger organizations she finds that the managers she had were quite proud she was on the team and that her different reality allows her to see the play on the field from a different vantage.
She and her wife share their life with two Golden Retrievers and love to travel. On the philanthropic fronts, they invest in LGBT-founded companies through angel investing with a group called Gaingels. Companies they support must have LGBT representation within the C-suite, and one of Poteat’s favorite parts is getting to meet the founders while providing economic empowerment.
In addition, she and her wife, along with her wife’s family, have established the Global Education Scholarship fund in memory of her wife’s brother who passed away when he was 31 from cancer. It supports students at Elon, particularly those who may have a chronic illness that might diminish their health quality. She says she always wants to emphasize that despite any life challenge, the timeline of your life remains separate from the value you bring to each moment.
“We underscore that it’s not the length of your life timeline, but the volume of the value you fit into your time,” she says, an ethos they themselves live by maximizing the value of every day.
3 Ways to Boost Your Success in Your Career Using The Lattice, Not The Ladder!
Career Advice, Next LevelImage via Shutterstock
By Lisa Iarkowski
Take a moment to picture your career path.
Do you see an arc? A lattice? A rock climbing wall?
No matter how you picture them, today’s career paths look very different from the traditional steps up the ladder. The career lattice has become a prevalent career path model for both individuals and organizations seeking to remain valuable and competitive in the 21st century. While there are clear benefits to the career lattice, navigating a career path on it can sometimes seem anything but clear. But there’s a way through. By developing three career competencies, you can learn to master the lattice and strategically create your own career success with it.
The Lattice: You Are Here
Even though we are living in it day-to-day, the lattice can feel like a city we are visiting for the first time. So, let’s first get our bearings. According to Deloitte’s 2018 Global Human Capital Trends report, 21st century careers on the lattice focus on a series of developmental experiences, each offering a person the opportunity to acquire new skills, perspectives, and judgment. Instead of the traditional “up the ladder” progression of narrowly defined job paths and skills, careers here develop along alternatively vertical, horizontal, and diagonal paths, and are shaped by experiences and learning agility. This is defined in the report as “the ability and willingness to learn from experience, and then apply that learning to perform successfully under new situations.”. The lattice is dynamic and agile. It is adaptive, and “built for flexibility and movement.” To be successful within it, we need to be the same.
The potential benefits are impressive. These include more personalized career paths, ongoing growth and skill development opportunities, increased value and employability in internal and external labor markets, and improved personal career-life fit. The lattice affords the opportunity to create a highly-individualized career path, with the freedom to make professionally and personally meaningful career development choices based on our own unique career goals and personal vision of success.
3 Ways to Master the Lattice
Befriending the lattice and managing our careers in it is essential to our career growth and success. Research on contemporary career paths suggests that to do this effectively, we need to develop strength in three career competencies: Reflective, Communicative, and Behavioral.
Way #1: Your Reflective Competency
Imagine you want to take a trip. To choose a destination, you’d probably spend some time thinking whether you want to relax or have an adventure, and about the activities and sites that might interest you. Similarly, developing your career on the lattice involves reflecting on what you want and what’s important to you.
Give yourself ample time to reflect on your motivations, values, and passions with regard to your career. What does success look like to you? What matters most to you? Because the lattice is built for flexibility, it can support your personal vision of success–now and in the future. Also reflect on and assess your strengths, skills, and potential shortcomings. Doing this will allow you to be more intentional and strategic about moves on the lattice. And it will help you identify the best experiences to learn and develop new skills and perspectives, while also magnifying your current strengths and skills.
As you think about your skills, also think about the skills most needed in your career area now and in the future. According to Deloitte, McKinsey, and others, 21st century skills that are increasingly in demand are those that pair with Artificial Intelligence (AI) and automation. Most desirable is a blend of cognitive abilities such as creativity, learning, and problem-solving along with social skills such as teamwork, collaboration, and adaptability to change. Seeking out experiences that will help you further develop high-value skills can be an investment in your career growth and longevity.
Plan on doing some healthy reflection on a regular basis to foster continuous growth and to stay aligned with changes in your career area as well as your own career aspirations.
Way #2: Your Communicative Competency
A strong communicative competency allows you to effectively communicate with others to improve your chances of career success. Networking and communicating your value fall under this competency.
Networking in particular can help you identify potential experiences that may not be obvious. Forbes, payscale.com, and others indicate that as much as 80% of job opportunities are not advertised (i.e., the “hidden job market”) and are obtained through some sort of networking activity. If the prospect of networking gives you pause, think of it instead as an opportunity to build mutually beneficial relationships where you both give help and receive it. Networking also gives you an opportunity to learn more about career areas or potential moves that you are considering, both inside and outside your organization.
As you seek out experiences on the lattice, you will need to communicate your value—your personal knowledge, abilities, and skills—to the internal and external labor market. If you’re not sure where to start, take a first step by creating or revising your elevator speech. This is a targeted, succinct, and powerful way to communicate your value and get someone interested in what you can offer, especially in networking situations. Also, think about how can you take greater advantage of LinkedIn to publicly share your value on your profile and by expanding your network with individuals and relevant groups.
There are many ways to network and demonstrate value, so it makes sense to be strategic and intentional with how you do both. Make networking more inside and outside your organization something you do ongoing.
Way #3: Your Behavioral Competency
This competency focuses on your ability to shape your career by proactively taking action. This competency is critical because in the lattice, you are squarely and unequivocally at the helm of managing your career. And many organizations are simply not providing sufficient career management support. In Deloitte’s 2018 report, 72% of organizations report having a nontraditional hierarchy, yet only 18% say they give employees what they need to actively develop themselves and their career paths. Even with help from your employer, it’s increasingly expected that you are responsible for managing your own career.
You can build your behavioral competency by focusing on two areas: work exploration and career control. Work exploration involves actively exploring and searching for those work and career related experiences that will build your skills, abilities, and knowledge—i.e., those that increase your value and align with your career goals. Since the lattice is adaptive and flexible, these experiences can take many forms. They can be new internal or external experiences, lateral or vertical job moves, short term project work in a different team or functional area, a role in a new industry, and even skill building or job crafting in your current role. Exercising career control, you actively influence your learning and work processes by setting goals and planning out how to meet them. Try SMART goal setting to proactively create a plan to achieve your short and longer term goals. And revisit your plan regularly to track your progress and to set new goals as needed.
Mastering anything takes frequent practice and repetition. So, aim to strengthen your career competencies through frequent and regular use. Make them part of your routine, and you will soon master your career on the lattice!
Think Sustainable and Ethical Returns, Think Female Leaders
Career Advice, Guest ContributionGuest Contributed by Lawler Kang, CEO, League of Allies
Socially responsible and impact investing models have been around for decades (centuries, in fact).
What has changed is the amount of money that is being managed to these ends. CalPERS and CalSTRS, two pension funds for the State of California employees that manage upwards of $550 billion, are on the forefront of integrating ESG factors into their investments and the NYC and NY State pension funds, worth roughly $350 billion combined, are nipping at their heels. And European pension and sovereign wealth funds, some with a trillion in the bank, are considerably ahead of the United States.
Larry Fink, CEO of Blackrock’s recent clarion call to capitalism that managing “environmental, social, and governance [ESG] matters demonstrates the leadership and good governance that is so essential to sustainable growth” should not fall on CEO deaf ears. The proxy shareholder voting power in those companies in which it actively or passively invests (with $6 trillion under management) means companies who don’t make concerted and palpable efforts to service their communities as well as their stakeholders they could find themselves with a new board, and management team, who will.
What is behind this shift in thinking? Doing the “right thing” aside, immense amounts of research from organizations such as Sustainable Accounting Standards Board (SASB) reveal that proactively coming up with ways to either minimize or mitigate businesses’ impacts related to ESG issues can have material positive effects on financial performance, traced down to the level of income statements, balance sheets, and costs of capital. And while there are a few frameworks companies can use to measure and report, leveraging women and talent appear across the board in the mix of proscriptions companies should use to deliver these performances.
What has this got to do with women at work?
In the returns context, McKinsey estimates a $12 trillion bump in global GDP by 2025 if management gender parity were realized. A Credit Suisse study of 3,000 listed firms reports companies with 50% senior front office management who are female outperformed the growth of the market index from 2008 to 2016 by upwards of 60%. A MSCI review of 1,600+ public firms has correlated companies with three women on their boards in 2011 as outperforming those with none by median gains of 37% EPS and 10% ROE over the last five years. Certain prescient asset managers, such as Boston Common Asset Management, founded by a woman, have been generating market-beating returns for 15 years.
It can be argued that there is no other singular factor can have such a pronounced impact on company performance, again irrespective of industry, as gender parity. And what’s more, women are not only accretive to financial performance, they are at the core of the sustainable and ethical part of the equation.
A study by the UC Berkeley Haas School of Business of 1,500+ traded firms concludes that companies with women on their boards are more likely to address a litany of ESG factors. A research paper coming from The University of Toronto’s Rotman School of Management found that women bring six important skills that have been lacking in board composition and that are vital to decision-making: corporate governance, an eye for regulatory/compliance issues, human resources, sustainability, politics/government relations, and risk management. Of note, the last four are presently the least represented of all skills on boards. Another report from MSCI cross-referenced gender board composition with a likelihood of “fewer instances of governance-related controversies such as cases of bribery, corruption, fraud and shareholder battles” and general overall reductions in risk. Dealing with these issues, many of which result in fines, can be distracting and expensive, in both outlays and reputation/brand. Findings published in the Journal of Financial Economics noted that female directors have better attendance, can actually increase men’s attendance, and are more likely to be assigned to committees that monitor performance. The same study found that boards with more gender diversity are more likely to hold CEOs’ feet to the fire for sub-par execution.
Where are the women going to come from?
A recent Lean In/McKinsey report reveals that while 45% of the entry level workforce is female, only 37% are Manager level, 27% are Vice Presidents, 17% occupy C-level positions, and the vast majority of these roles are in Administrative functions: Human Resources, Legal, etc. Women run only 5% of the S&P 500 and represent 22% of those companies’ Board seats. To say that opportunities for advancement aren’t abundant is akin to postulating our climate is not changing. The problem is the pipeline: the entire system, from recruiting to manager training to development and succession planning, is institutionally biased in a variety of unconscious and conscious ways. Expanding and re-weighting our definition of leadership and the skill sets required to succeed, per the afore-mentioned Board study, is a great example of a change that will have profound ripple-down effects on the entire system’s mechanics. And there are many more dials that can be turned, levers pulled, that will increase the flow of diverse talent that increase profit and valuations.
In his February letter Mr. Fink stressed the importance of diverse boards, and in that same month BlackRock requested all companies on the Russell 1000 in which it has positions and that have less than three female board members to share their rationale. State Street, with $2 trillion in assets under management, made similar Board-related waves when it unveiled its Fearless Girl statue last year and a similar call to action. And organizations such as The 30% Coalition and Paradigm 4 Parity are making great strides in signing up backers from both the investment and corporate communities who are taking the pledge to increase female representation in executive and director ranks. The stage is being set.
Mainstream momentum for sustainable and ethical business is growing. PE shops and hedge funds are now donning ESG garments and are flaunting them to both investors and the general public. Mutual funds and ETFs with organic flavors are flooding the market; Barron’s recently had a cover article on the top 200 sustainable funds, though marketing and reality must be further examined.
We must let women lead, because if parity is left untested, we have much to lose financially and otherwise.
Disclaimer: The opinions and views of guest contributors are not necessarily those of theglasshammer.com
How to Be Productive Without Feeling Stressed
Career Advice, Career Tip of the Week!, Guest ContributionGuest Contributed by Anna Whitehouse
Keen to be more productive?
Constantly trying to squeeze every drop out of the day could leave you feeling incredibly stressed. So what’s the solution? Read on to discover how to achieve more without sacrificing your mental health.
Learn to be present
In 2005 Arianna Huffington founded the Huffington Post. Two years later, she had collapsed due to stress and burnout. It took a breakdown to make this highly successful woman realise that she needed to slow down.
As well as starting to sleep properly, Arianna learned to be fully present in each moment. She began to appreciate the simple pleasures of life and became passionate about the connection between well being and productivity at work.
So if you need time away from the demands of work, the constant chatter of social media and a busy home life, why not find a tranquil spot in a local park or garden and experience the power of being fully present for yourself?
Once you’ve found your spot, start by drawing a deep breath and letting it out through your nose. Next, relax each part of your body and become aware of your surroundings. Feel the sun on your face, listen to the birds singing and simply enjoy being in the moment.
Stop multitasking
In our busy society, the ability to multitask is often admired. However, according to Paul Towers of Task Pigeon, “our brains are designed to focus on one thing at a time. We are not like a computer where we can successfully run multiple applications simultaneously.”
While constantly switching between tasks might seem like a good idea, it actually leads to procrastination and lack of concentration. These can affect our productivity at work and our relationships with those we love.
If you want to become more productive, try tackling one thing at a time, as losing yourself in a particular task leads to creative flow. When you allow this to happen, you’ll actually complete your task more efficiently and to a higher standard.
Say no more often
Is saying yes your default setting? Then you’ll probably end up feeling resentful and stressed because you’ve taken on too many projects. If your goal is to become more productive, learning to say no is crucial, because you’ll then be able to say yes to the things you’re passionate about.
TED speaker Derek Sivers sums this up nicely with this statement: “if you’re not saying “Hell Yeah!” about something, say no.”
Saying no can be tricky to start with, but being able to set boundaries is a sign of maturity. Most people will respect the fact that you know your limits and you can always point them in the direction of someone else who might be able to help.
Write effective lists
To do lists can be very handy when it comes to being productive, but they can also cause a great deal of stress. To avoid this, we recommend prioritising each task on your list. Tasks with an impending deadline should always be placed at the top, as these need to be dealt with urgently. Non urgent but important tasks go next in line, followed by jobs that can be left for a little while.
If your list is becoming ridiculously long, delegate! Focusing on the jobs that you do best means that you’ll be able to give someone else the chance to develop their skills.
Look after yourself
At the headquarters of Arianna Huffington’s company Thrive Global; employees are encouraged to take a nap during the working day. Her mission is to prioritize the well being of her staff and promote the value of sleep:
“Studies have shown that naps boost our immune system, lower our blood pressure, increase our ability to learn, improve our memory and performance of complex tasks.”
Exercise is another excellent tool for boosting productivity and combating stress. This is because it keeps you mentally sharp and increases your energy, while also releasing endorphins.
If you’re suffering from afternoon sugar slumps at work, a diet rich in fruit, leafy green vegetables, oily fish, eggs and wholegrains will also increase your ability to concentrate.
Any change involves commitment, but if you take the time to follow our tips you’ll enjoy better mental and physical health as well as increasing your productivity.
Anna Whitehouse writes for Inspiring Interns, which specializes in finding candidates their perfect internship. To browse our graduate jobs, visit our website.
Voice of Experience: Melanie Tinto, Chief Human Resources Officer, WEX
Voices of ExperienceEarly in her career, a mentor asked WEX’ Melanie Tinto what she would do differently if she was a vice president, and she named a couple of things on her mind.
It was very eye opening when her mentor responded, “Why not operate like you’re already in the role that you want to be in? Why wait? Let people see you for the value you bring, and they’ll be thinking ‘I thought she already had that larger title.’” That is the type of advice that has helped Tinto rise within numerous companies to her current position today.
Finding Her Calling in HR
Tinto says she never thought of work as “work,” but rather something that brought her fulfilment, thus making her busy career a pleasure.
She had grown up in Maine but when she graduated, the market was not particularly robust, so she moved to Connecticut and worked for a finance company that put her in a leadership development program. She ended up with a rotation in HR and although she had planned to land in underwriting, she realized that HR was the right path for her, particularly in the recruiting and career development areas.
When the company was being acquired, she decided to make a move to Cigna that combined her loves of financing and HR. She was soon promoted to managing half the staff and went through some different departments, including product strategy, when she found herself at the tipping point where it was time to decide if she was going to stay in HR or go back to the business side. She ended up working in HR for a variety of companies of all sizes, mainly moving with bosses she admired. Over the years, she has been proud that she’s been able to play a role in developing talent and watching them blossom, with former team members who are now CHROs.
Tinto is happy now to be back with a smaller company where she appreciates the culture and tighter chemistry. And of course, she is delighted to be back to Maine.
In her new position at WEX, she’ll be focusing her attention on a variety of needs, but one of them is helping to ensure the diversity of staff. In addition she is focused on thinking ahead to how employees will want to work in the future and how the company can help retain them by offering a variety of work paths, such as short- and long-term assignments to keep them interested.
Also, now that she is in a different chapter of her career, she’s looking forward to expanding her work on advisory boards to deepen her roots by becoming more engaged in the community beyond her day-to-day work.
Benefitting from Mentors and Passing It On
Another lesson that stuck with Tinto from a mentor came from the military, “Completed Staff Work.” What that means is never put a problem in the lap of someone else; instead at least offer options and recommendations. “Find that extra step that differentiates you and helps your leader do his or her job better,” she advises. So for example, if you knew your boss was going to forward your email directly to the CEO, would you check it one more time for format or spelling? Then assume that might happen and do it.
She says that she feels so grateful for her career path that she is eager to bring others along. To that end, she says it’s important to remember to give credit to team members, which can help strengthen relationships.
Building those relationships has always been important to her. At a former employer she helped lead the women’s employee resource group and saw how impactful the outlet was as a way to remember not to just put your head down and work.
“Many of the women I met there are still my board of advisors,” she says, adding that she has known many of them since the ‘90s, which offers a vast network she can always ask for help or advice.
“Sometimes you need someone to hold a mirror up to you, and you have to be open to that feedback, which makes you better even when you don’t want it,” she says.
A Full Life With Family
Balance is important to Tinto, and she says she wishes she’d learned earlier in her career to carve out time for herself. “You have to take that hour, or leave work to take a vacation because often taking a break is a better way to be more effective.”
Now she enjoys spending time with her husband of 25 years and 13-year-old son and 10-year-old daughter. “I’m lucky because I’ve always felt very supported in terms of my career – even with all the craziness, we are a team that supports one another.”
Together they love to participate in a wide variety of activities, from camping to concerts to trips. One of their goals is to see every state in the country and they only have eight left. “I wouldn’t trade the memories we’ve made for anything,” she says.
The family is also busy with kids’ sports and traveling teams, particularly horses and lacrosse. And now that she is back in Maine, she is delighted to be able to spend Sunday dinners with the extended family.
Mover & Shaker: Svetla Marinova, Vice President of Innovation, APG
Movers and Shakers“I always assumed that one needed to have studied a particular major in college in order to work in that industry, especially finance, but I have come to find that some of my most successful colleagues and classmates found their way into their respective industries by ‘falling into it’ in different ways,” says APG’s Svetla Marinova.
“I believe they are so good at what they do because their minds approach problems differently from the minds of their peers who have all been trained in the same traditional way, and they are valued for that very reason.”
Marinova’s creative career path certainly bears that out.
Seizing Opportunities Throughout Her Career
Marinova always thought she’d pursue academia and focused on preparing herself for a PhD in Economics, with a focus on Environmental Economics — even spending an extra year in college focusing on math, and then earning a Master’s degree in Climate & Society at Columbia straight after college. But when she eventually started her PhD, she realized a research career did not fit her energetic and outgoing personality.
“I wanted to be in a dynamic environment where my actions could effect change right away,” she says, deciding to join a consulting firm as a way to figure out what industry she might be drawn to. She joined what was at the time a startup called AlphaSights, now a 400+ employee firm, as the first female employee in their NYC team of 10.
After a year she fell into fintech, becoming the first employee of S&P Global’s Innovation Lab, where she developed an affinity for the field and the Lean Startup methodology as it applies to software development, particularly driven by an interest in deriving insights from data through data visualization.
While at S&P Global, she created a summer internship competition called Mission Possible, where interns form teams and act like startups, developing a product over two months. The competition culminates with a pitch before senior management who act like VCs; for four summers she oversaw the program with 50+ interns each summer. She also created more than a dozen proofs-of-concept with her S&P team, and initiated numerous initiatives meant to stir the organization into more creative thinking.
While there, Marinova also designed and product-managed a smart search tool at a time when natural language processing was in its infancy as applied to financial services. Within six months, her team had a cutting-edge product that they had built iteratively with zero prior experience in natural language processing and with limited resources.
“It was incredibly rewarding, and I learned that I’m capable of picking up any project and making it successful if I do the proper research and am given freedom and support to execute,” she notes. “I also taught myself to pick up the phone and ask for advice when I don’t know how to do something, which saves a lot of time and worries. Of course, being surrounded by top-notch engineers with the same can-do attitude was essential to our success.”
And, she learned that while her ideas were sometimes outside-the-box, and that not everyone was going to get them or love them immediately, there are opportunities and challenges in the fintech space that merit exactly that type of bold and unconventional thinking.
In an effort to learn more about data architecture, she spent two years working on strategic data sourcing initiatives at Deutsche Bank, where she co-led an employee resource group called Career360, a knowledge-exchange program between junior and senior employees. The program has grown significantly and exists in many countries around the world now.
During that time she began the Executive MBA program at the Wharton School of Business, a two-year program with the same curriculum as a full-time MBA, but with the caveat that all students also work full-time during the program. She graduated in May 2018, proud of her success at completing the intense program.
In addition to learning about finance, marketing, general management and entrepreneurship, she says she gained confidence and traveled the world with classmates on global knowledge trips to Japan, Argentina and Spain, to name a few, along the way meeting incredible people from a variety of industries and geographies.
She joined APG, the largest Dutch pension fund, in September 2017 as vice president and manager of innovation, where for now at least, she is again a one-woman show building out an innovation program for the New York office using the lessons learned from her Innovation colleagues in The Netherlands . This entails scouting out the fintech ecosystem for startups who could be potential strategic partners; coaching experiments or internal R&D projects aimed at delivering products and services for the pensioner of the future or aimed at improving the investment process; and creating and sustaining a culture of innovation via various internal initiatives from a speaker series to ideation sessions.
“I’m excited to be building cutting-edge tools for a company that believes in and supports innovation,” Marinova says. “I feel encouraged to explore ideas in the areas of fintech that truly interest me, such as artificial intelligence, blockchain, and sustainable investing.”
At the moment, she finds she’s most enthusiastic about their experiment with alternative data, which she researched thoroughly prior to designing by talking to industry peers, alternative data vendors, platform providers, internal investment experts and compliance professionals. “It’s a truly collaborative effort between our New York and Amsterdam offices, and I cannot wait to find out what we will learn from this experiment about how to tackle the growing volumes and types of data that are becoming available.”
A Full Life Inside and Outside of Work
Marinova participates in the APG U.S. Women’s Forum, which is an initiative that seeks to enhance careers by providing opportunities both within and outside APG to share information, strengthen skills and develop rewarding professional relationships. In addition, they seek to serve the broader community, especially in ways that have a positive impact on women and girls. For example in February, they raised money for the Young Women’s Leadership School, whose students visited the office for job shadowing, mock interviews and case coaching.
Starting with her first role model, her father, Marinova mentions that all of her mentors and managers thus far have been male, and she looks forward to the day when she will end up reporting to a woman she can look up to. “Unfortunately women are massively underrepresented in the fintech space, especially in senior roles,” she says, adding that she catches herself counting the number of females on panels or even in the audience at major fintech conferences. “I think it is slowly growing, but still remains within double or even single digits. I hope to change that.”
Outside of work, Marinova engages in a wide variety of hobbies, including travel, music, dabbling in arts, and reading – from books that help her retain her professional edge to fiction. She has served as a volunteer coach with FIRST Robotics and NFTE, where she taught entrepreneurship to high school students, and looks forward to re-engaging in her mentoring and volunteer activities after completing her MBA.
And all of her efforts are guided by an underlying principle: “Don’t cut corners when it comes to your personal effort — make things happen using the highest standards that you can think of,” she says. For her that manifests itself as thinking of every project as an opportunity to showcase existing skills and learn new ones. She’ll seek advice from online journals or others in her network, but isn’t afraid to make up her own way of doing something if she finds that nobody is doing it quite right. “When nobody has figured out the solution yet, that’s a great opportunity — this is how new products and processes are born out of a blank canvas,” she says.
Equally important to her is always maintaining integrity, and always being kind to everyone you meet along the way, eager to help others and to hear them out. “As Ray Dalio says, it’s essential to surround yourself with smart people who are not afraid to disagree with you — this brings us all closer to the truth.” “Being open to entertaining opposing views is how you create trust with people, and they will always remember if you’re someone who is willing to fight for the right thing,” she says. Not to mention, of course, that besides being a recipe for career success, it is also one for living a happy life and sleeping well at night.
Better Your Business with Better Storytelling
Career Advice, Guest ContributionThe business world is full of people telling other people that they must tell stories.
They’re right in a way, because we like a bit of drama. We resist or resent dull information. Our attention is more and more a scarce asset. None of us has time or energy to spare. And a brand is nothing if not a story.
But the word ‘story’ gets tossed around like litter in the wind. The great story mavens—from Hollywood screen-writers to wilderness faith-healers—are quoted wantonly in business environments everywhere. Urged to tell stories, well-intentioned organisations too often grow narrative moss: pseudo-stories, shaggy old news pages, voiceless forums, scattered chatter across any kind of social media, unread newsletters, explicit claims of brand “passion” that seduce too few…
Whatever tale you need to tell—elevator pitch, brand history, personal profile, case study, script scenario, project proposal—you can use these tips from the world of literary storytelling to boost your brand success.
Deep-vein authenticity.
Why are you telling a story—this story? What’s at its heart? Think philosophically about the essence. Think, really think, until you unearth its unique truth. If you find a paradox or contradiction, chances are that’s the narrative crux. If embellishment is needed, it will emanate from the heart.
Fresh, not stale.
Samuel Beckett wrote his best plays first in French. He must have been fairly good at French, but it was a foreign language. So why did he do it? He wanted to stop the fluent from flowing. It was a defence against cliché. He compelled himself to think quite carefully about every word, rather than lapsing into lazy ideas or phrases. Try to “think fresh” when you make your verbal and visual choices.
Plot.
Just for now, I’d like you to pretend your brand is a cat.
The cat sat on the mat, and then it sat somewhere else, and then it had a nap, and then…
Yawn.
Instead of “and then”, it’s better plotting to think “so”, “but” or “meanwhile”.
The cat sat on the mat, so the dog had to sit somewhere else.
The cat sat on the mat, but the mat reeked of dog.
The cat sat on the mat. Meanwhile, the dog lurked behind the door.
Concrete nouns.
Welsh-noir author and creative writing teacher Malcolm Pryce writes: “Concrete nouns are judgement free. They don’t tell you what to think, they give you the information and allow you to form your own opinion. Rather than tell me the food was disgusting, which is an instruction to be disgusted, imagine you told me instead, the cook ran out of stock, so she took the bandage off her foot and put it in the stew. Presumably this image arouses disgust naturally within you. This is really what we mean by show not tell.”
Emotion.
Try the cook’s stew above.
Poetry.
Think of a representational still-life painting, where a fly appears to have landed on an apple because the apple looks so real; it’s almost a photograph. Now, think of a more abstract painting—say, a group of apples by Cézanne—and you’re invited to notice the brush-strokes, the gestures of the artist, the qualities of the paint and grain of the canvas. That’s how I think of poetic prose. Beyond the job of information, there’s pleasure to be had in the movements and textures of language itself.
Dialogue.
Voiced utterances are like opening a window and letting in fresh air. “I love spoken words!” the reader says. Think quotation, endorsement, testimonial, user review…
Less is more.
“I would have written you a shorter letter, but I didn’t have the time”—so wrote the 17th-century philosopher Blaise Pascal. When you edit, your story will probably get shorter. That’s good. Each remaining word (or image) will work harder for you. Bonus: your audience will feel respected because you haven’t wasted their time.
Other people’s shoes.
When I write fiction, I imagine the world from each character’s point of view. They have their own beliefs and reasons for doing things—they are not me. Imagine the situation of your reader as they read your story. Don’t tell them what you think they should feel.
Tell your story to one person.
A business doesn’t read your story, a person does.
Action, reaction.
Be clear about your story’s purpose. Are you inviting people to feel, or understand, or spend, or take some kind of action? Don’t overload the narrative with too many wishes—they’ll cancel each other out.
The end is the beginning…
When we finish reading the last words of a good story, we feel a pleasurable little grief. Perhaps we want to read the whole thing again. Perhaps we want to share it with others. Our world has shifted subtly on its axis. We think about things differently now.
About the author
Elise Valmorbida is a communications consultant, multi-published author and teacher of creative writing. Her latest novel The Madonna of the Mountains (Spiegel & Grau, USA) is a New York Post “must-read” and The Times (UK) Book of the Month. Bestselling author Sara Gruen describes it as “powerful and entrancing, a riveting adventure for the soul.”
Disclaimer: The opinions and views of guest contributors are not necessarily those of theglasshammer.com
Voice of Experience: Jocelyn B. Redman, Counsel, Shearman & Sterling
Voices of ExperienceAll different types of people can succeed at law firms, says Jocelyn Redman.
“Even if at first you don’t see people who look just like you or come from the same background, remember that you can succeed with different goals by leveraging your strengths and forging the career that works best for you.”
As A Shearman & Sterling “Lifer” She Finds the Career She Always Sought
Redman’s goal had always been to become a lawyer, but she felt that working in an office environment in another field would afford her a useful perspective on her career. She spent her first four years out of college working on energy and environmental policy analysis, and then went to law school. While earning her law degree at American University’s Washington College of Law, she joined the firm as a summer associate and has been there ever since, and was promoted to Counsel effective as of March 1.
Redman started at Sherman & Sterling in the finance group in New York City, joined the real estate practice after two years and relocated to the Washington, D.C. office in 2014. She works with her colleagues in New York and London, handling issues such as acquisitions and dispositions, joint ventures and leasing; she particularly enjoys matters involving Washington D.C. real estate given how hot real estate development is currently in that city.
“I’m always working with clients to suggest avenues that can guard against the tendency toward a boom-and-bust cycle,” she says, adding that the D.C. market is particularly appealing for investments – the continuous needs of the government can protect against the typical harsh fall that the real estate industry as a whole can have when markets turn. “We are always looking to tap alternative resources and be aware of trade-offs and how to protect our clients’ investments.”
Using Diversity As A Tool For Success
Over the years, Redman has found that participation in Shearman & Sterling’s WISER (Women’s Initiative for Success, Excellence and Retention) group has been useful as a way to get to know women partners and counsel from other specialty groups. She’s also found the “Lean In” circles to be applicable, particularly one module about body language that helped participants become more aware of the unintended messages they might inadvertently be sending through their presentation and carriage.
She believes that being a woman in the legal field can be a benefit, since clients are looking for diversity and differing perspectives in their legal teams. In fact, she finds that one of the biggest barriers for women in the legal field – especially at law firms – can be perception, rather than reality.
“I find that women worry that a legal career might take all your time, and that the only type of person who can succeed are those who put everything else aside,” she says. “And that in itself can cause women to self-select out, or decide they should take on a smaller role, when in reality those steps are not necessary and can just result in women lawyers taking jobs where they are being paid less and have less opportunity to grow in their careers.”
She cautions women not to assume you have to give your entire life to your career or play into the notion that success requires constant sacrifice. Unfortunately, she sees lawyers who perpetuate the stereotype by contributing to the myth that you can never have your weekends free or take vacations. “I am still learning to balance,” she says, “but there are ways to have hobbies and a family and be successful at your job.”
With a young daughter herself, Redman is learning to focus on other priorities outside of work while still providing excellent legal services to her clients on behalf of her firm. “Some of this ability to balance comes from maturing in your job,” she points out. In fact, traveling is another priority and over the years she has taken three trips to Africa with her mom.
The 10th Annual Top Women on the Buyside event coverage: What will the future bring for the Asset Management Industry?
Featured, Guest Contribution, Women on the Buy-SideBy Melissa Anderson
Artificial intelligence, big data and technology generally will impact the asset management industry in a big way, according to industry leaders speaking as part of The Glasshammer’s tenth annual Top Women on the Buy-Side breakfast.
After introductory remarks by Nicki Gilmour, CEO of theglasshammer.com, Jennifer Hanes, Head of Investment Management and Operations at technology company FIS opened the discussion in the moderator seat with a question around the outlook for near and further timelines for the industry. In a wide ranging discussion, the panelists discussed how they expect the industry will be with themes of innovative products, continued active management and human advisory, and the rise of big data and machine learning.
The panelists included Kristi Mitchem, CEO of Wells Fargo Asset Management; Lori Heinel, Deputy Global CIO of State Street Global Advisors; Kathryn Koch, Global Head of Client Portfolio Management and Business Strategy at Goldman Sachs Asset Management, Fundamental Equity; and Donna Parisi, Partner, Global Head of Finance at Shearman & Sterling LLP.
According to Kristi Mitchem, CEO at Wells Fargo Asset Management, over the last ten to 15 years, firms have honed their technology usage to be more efficient, for example integrating project management systems and trading systems. Now, she said, technology is moving from the back office to the front office.
“The big change we’ve seen in the last three to five years is a migration from thinking about technology as an operational construct to thinking about technology as a business construct and an alpha driver,” Mitchem said. In addition to applying big data to alpha generating processes, more companies will also apply it to risk management processes to improve the trajectory of returns, she said. Asset managers will also continue to think about how they are using technology in terms of distribution.
“How do we get much better and richer data about the clients we go after? How do we actually create very customized value propositions as part of the sales process by using technology to understand and target more efficiently and effectively?” Mitchem asked.
Indeed, according to panel moderator Jennifer Hanes, Head of Investment Management and Operations at technology company FIS, this shift is bringing positive outcomes already.
Her company recently completed its second annual readiness survey of 1,500 senior executives in the buy-side, sell-side and insurance industry.
“We are hearing a lot of enthusiasm and optimism from organizations … in terms of how they are thinking about technology and using it to drive business outcomes,” Hanes said. “Those businesses that are leaders actually because they leverage technology are seeing better performance in their results.”
Heinel said that her company is thinking carefully about how to retain value as technology migrates from the back office to the front office. Technology has, for so long, been seen as an efficiency driver, , she explained.
“In some respects, when you think about robo-advisory and you think about some of the other online asset management applications, that’s degrading, in some cases, the value that the interface between human and machine can actually add,” Heinel said. “We believe the combination between technology and human is ultimately what’s going to win, and so we’re being very protective of where we are adding value over and above some sort of automatable routine.”
Koch agreed, pointing out that while big data will surely be an important part of the asset management industry moving forward, the field is still in its infancy. She comments,
“ We have created more data in last two years than in all of history of mankind – but only 3 percent is actually been annualized,” she continued, “however because the rate of decay around big data as a potential alpha source is so fast, companies have to be willing to “get behind the capex to get on the bleeding edge.”
Koch comments,
“We can’t be luddites and we have to embrace technology, but there really is going to be a very important intersection with humans. I like technology, but I’m still very ‘long’ on human beings. In particular, she continued, “humans can “connect seemingly disparate points in the investment processes to make predictions about the future not dependent on past data”
Meanwhile, Parisi offered a few “cautionary tales” with respect to big data – companies making use of it need to be sensitive to privacy issues as well as other legal risks such as insider trading. For example, she highlighted a recent court case involving a Capital One analyst who scraped together internal credit card data and, based on his analysis, bought and sold stock in retail companies ahead of their earnings reports.
The Securities and Exchange Commission charged the analyst with insider trading and the courts agreed, saying that the data met the level of materiality that would give rise to an insider trading claim because it was so highly correlated and predictive.
“You need to think about even though it may be only a small slice of data, if it is highly correlated or highly predictive, if it’s not widely disseminated, you better think carefully about whether or not you have material, non-public information,” Parisi said.
Finally, the panelists were asked to sum up their expectations of the asset management industry of the future. Panelists touched on clients’ desire for innovation as well as the growing importance of environmental, social and governance-focused (ESG) investing.
Mitchem ended with her vision of the asset manager as a “total coach.”
“How could financial services companies, through data arrangements with other people, really become the coach for your life?” she asked. “You want to think about, not just your 401k business, but you want to think about your HSA business. You want to figure out [whether you could] be that integral provider that coaches people across the spectrum on everything from healthcare to wealth management.”
Theglasshammer wants to thank the panelists, moderator, sponsors and attendees for making this a great event.
Voice of Experience: Jennifer Barbetta | Partner, Goldman Sachs
LGBT celebration, Voices of Experience“Be on the short list,” recommends Jennifer Barbetta, a partner in Goldman Sachs’ Investment Management Division.
From her own experience, she knows that unique and challenging projects don’t simply “fall in front of you,” and that when senior managers are kicking off a new business, they’ll look to add people to their team who offer both a specific skill set as well as those with whom they have built a relationship.
As such, she advises junior analysts and associates to be “willing to work hard at everything put in front of you,” because individuals who jump in to solve problems and also work on building honest, trusting relationships are rewarded. “When people think of someone they want to work with, you want it to be you,” she recommends.
Creating a Multi-Faceted Career
And being someone with that mindset contributed to how Barbetta has managed to enjoy such a fruitful and varied career at Goldman Sachs. She joined the firm directly after graduating college, assuming she would work at the firm for several years prior to pursuing an MBA or law degree. Fast forward 23 years, and she’s still enjoying her work at Goldman Sachs, having worked in a variety of different roles across businesses.
Today, Barbetta is helping to lead the Global Portfolio Solutions Group in Goldman Sachs Asset Management (GSAM), which provides custom asset allocation advice, risk management and portfolio construction to both institutional and retail clients. The business has steadily expanded its service offerings over the past few years, resulting in GSAM becoming one of the top providers globally.
The custom solutions-oriented offering is one with a lot of potential, Barbetta says, noting that the work GSAM is doing was referenced in Goldman Sachs’ annual letter to shareholders as an effort with significant growth potential. That’s partially because trends in the industry are aligned with the business’ growth, as pension plans or healthcare organizations look for greater expertise in generating investment returns, because they may not have the breadth of internal capability to support all asset classes, portfolio construction and asset liability analysis. In other cases, they may be looking to outsource this functionality to save costs. “What we offer is so customized yet we have the expertise, investment platforms and risk management tools to scale this work effectively.”
“There is clearly a trend in this space, and at Goldman Sachs, we feel we have the skills sets, scale and resources to deliver for our clients,” Barbetta notes. “We have a diverse and experienced team, and we have significantly added to our capabilities over the past several years.”
Proud to be Part of A Firm That Embraces Diversity
Barbetta notes that as women progress in their careers, firms experience difficulty promoting and retaining senior women as they begin to start families. “It becomes more of a balancing act, and I know there’s more we can all do to enhance flexibility,” she says.
She also finds it uniquely beneficial to be out at work, primarily because you can take energy that you might have spent covering up a part of who you are and redirect it to a more useful need. She is proud to be associated with Goldman Sachs, and notes that the firm focuses on building an inclusive culture, with the tone being set at the top.
“If someone feels confident that senior management gets it, it makes it that much more comfortable to be out at work,” she notes. For Barbetta, a defining moment came when Goldman Sachs CEO Lloyd Blankfein spoke out in support of marriage equality in 2011, highlighting to both employees and the public that he supports diversity.
Involved with the LGBT network since it was founded in 2001, Barbetta now serves as an advisor, and during Pride Month will be moderating a panel on embracing transgender talent. She also is active in Goldman Sachs’ women’s network, having championed strategic initiatives focused on high-performing women. She also has been involved with the Black network and led a mentoring cohort that worked with managing directors and vice presidents.
Barbetta has three children with her wife Victoria, and when not spending time with family, she is active in philanthropic organizations. For almost a decade, she’s been on the board of the Point Foundation, which offers scholarships and mentoring to LGBTQ students of merit. She is also on the board of Junior Achievement New York, where she recently helped host a Bowlathon that raised almost $300,000. In addition, she is a board member at her children’s school.