Tag Archive for: Cathie Ericson

Voice of Experience: Sally Boyle, Partner and International Head of the Human Capital Management Division, Goldman Sachs

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Sally Boyle“The tougher the job, the faster you learn,” says Sally Boyle, who began her career as an employment lawyer before seguing into human resources and now leading that division in Europe and Asia in her current role at Goldman Sachs.

Unlike many women who chart a clear path as working moms, Boyle considered taking a break from her law career before her maternity leave and broached the subject with her female boss. “She instead encouraged me to take a master’s course during that time,” Boyle recalled. Her boss was writing a book on employment law, and suggested that if Boyle chose her topics carefully, she could parlay what she was learning in school into helping her write the book.

“I was a little taken aback when she arrived at the hospital with flowers and an enormous parcel of law books, but it was good advice,” Boyle said. While she found it challenging to study with a baby, overall she felt it was the perfect opportunity to keep herself connected with academic law and her boss.

Within 14 months she had her second son and continued to work towards her master’s degree, and then three years later, she decided it was time to go back to work. Her boss was committed to helping the next generation of women live more flexible lifestyles, and Boyle opted for a part-time schedule, since her barrister husband traveled frequently.

Several years later, deciding to ease back into full-time work, she took an interim job at a smaller firm outside the city. But after three years, she was yearning to be back in London, so activated her network and joined Goldman Sachs in 1999.

The firm was about to go public and having an employment lawyer in the London office was a new venture for them too. “It was the best job in the city. I was giving advice in a territory that spanned different cultures and covered 40 cities.”

Then in 2008, Boyle was tapped to take on responsibility for Goldman Sachs’s Human Capital Management Division in Europe. “I was a little surprised, having been a lawyer all my life, to be offered this opportunity to run a regional HR division. But even though I said I didn’t know that much about it, they expressed confidence I was well suited to the role.”

Her predecessor had moved to Asia to become head of human resources there so with no transition Boyle took the position, coincidentally on the very day that Lehman Brothers met its demise. She became partner in 2010 and now oversees the human resources businesses in Europe, India and Asia.

Taking on Challenges

For Boyle, the professional achievement she is most proud of is pivoting from law to human resources. “I was able to use skills I’d acquired as a lawyer, but also needed to intuitively figure out how to lead since there was no road map.” She said that her role in human resources is much broader than what she had been doing in law – allowing her to oversee everything from gyms to childcare centers, and helping employees with every phase of their careers, from the first time they show an interest in the firm to when they leave, including training and development.

She’s particularly interested in the overlay of the millennial generation and their expectations. “The way that we’re thinking about our biggest asset, our people, has to change, and it’s fascinating to work on new ways to retain and motivate our best people.”

Reviewing her career path, she knows she was able to advance into new areas because she had confidence in other people’s assessment of her. “I wasn’t constantly wondering whether I had the skills to take on a new role; rather I said yes because the people who asked me said I could.”

She has seen the rewards of having the confidence to take the leap into new things and rather than staying complacent. She says that she was fortunate to have strong mentors and sponsors who were constantly helping her see what a smart next step would be.

A Path to the Top

Right now, Boyle is enjoying an aspect of her role helping Goldman Sachs work with women in thoughtful ways to enhance their experience. “I got this mindset from my first boss,” she says. “Rather than having an attitude of, ‘I’ve had it tough and you will too,’ she helped smooth the way.”

To that end, Boyle has worked on programs in Europe at Goldman Sachs designed to engage women on maternity leave and give them a good experience coming back to work. The program connects the manager and woman from the start to talk about expectations while she is gone and when she returns to make sure that she is well integrated during the transition time.

Additionally, Boyle advises women entering the industry to build a strong network not only within the organization but more broadly. Boyle knows this from experience: had she neglected her network, she wouldn’t have gotten the opportunity to work at Goldman Sachs.

“I have confidence that women can do it all — they can be good mothers and good partners and successful workers, but you have to realize that it will be quality not quantity that will get you there.” She says that goes both ways – for family time and for work as well. “Managers need to give employees flexibility and trust them to manage their work.”

Away from the Job

An avid former tennis player, Boyle has recently turned her attention to cycling. In addition, she began golfing several years ago in an effort to join her family in one of their favorite pastimes. “It used to be my family was on the course, and I was at the spa,” she says. “But it’s an addictive game, once you start.”

By Cathie Ericson

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Movers & Shakers: Sofya Pogreb, COO, TrueAccord

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Sofya PogrebFocus on people, not just projects – that is the “aha” moment Sofya Pogreb had recently when a colleague paid her that compliment. “Spending time working with my peers, mentoring people and trying to understand their needs helps me problem solve and ultimately lead,” she said, adding that companies need to realize that their success lies more in their people and talent than anything else, especially in the fields of technology and finance.

Born in Moscow, Pogreb moved to New York City when she was 14. She attended MIT in the 1990s with the intent of majoring in political science and becoming a lawyer. But it wasn’t long before she realized that most of her fellow students were pursuing computer science, not political science, and although the first time she’d ever touched a computer was her freshman year, she ended up with a double major in computer science and finance.

Pogreb was awarded internships at HP and Intel, and was particularly grateful for her designation as recipient of the “Intel Women in Engineering” honor, which paid a large part of her tuition.

Fascinated by marrying technology and business, she joined McKinsey & Company. “I loved working with smart people, and I enjoyed the variety of projects that the consulting life gives you the opportunity to experience,” she says.

After eight years, she left McKinsey, in part to avoid extensive travel, and landed at PayPal where she grew to run its Americas Risk Management division, leading a team of 40 risk professionals. One of the accomplishments of which she’s the proudest was her role at PayPal helping them assess the risk and reward tradeoff, considering such aspects as how aggressive they wanted to be on fraud and how liberal they wanted to be with merchants.

“My recommendations had significant financial implications, and that was a major change from a consultant relationship, where you give advice but your head is not on the line, so to speak. At PayPal, I had the opportunity to live and breathe the numbers every day.”

A True Fit at TrueAccord

Early in 2015 she left to join TrueAccord as its COO.

She is excited about the challenges inherent in her new position, although she admits she never thought she’d move from a stable corporation to a startup. “When this opportunity presented itself, the leadership team made me feel comfortable I could make it work. I see it as a once-in-a-lifetime opportunity.”

Pogreb sees TrueAccord as leading an industry sea change. “I found the passion of the team to be contagious,” she says, since the debt collection industry is ripe for a change. Although the market is significant, there has been less innovation in the past century than almost any industry.

“We believe there’s a huge opportunity to take the techniques that have been used in marketing and risk management and apply them to this industry. Everyone dreads the call from a debt collector, but what you’re trying to do is have a conversation. Through technology we can identify the right tone and language for each consumer based on what we know about them and then use automation to remind people when bills are due.”

Abandoning Assumptions about the Workforce

Pogreb had two assumptions when she started her career – neither of which turned out to be true. The first was that if she worked hard, she would be appreciated and success would follow. She did find that applicable in the early stages, when her career success was driven by working really hard and being the person on the team that the leadership could always rely on.

“As I became more senior, though, willingness to work hard became less of a factor and can even work against you,” she says. “Managers are not looking for me to work hard, but want me to be a strategic thinker and a leader.” She says this continues to be a challenge for her, but also a blessing since these days she can’t put in as many hours with a young family to attend to.

“Managers are not looking for me to work hard, but want me to be a strategic thinker and a leader.”

Pogreb’s second assumption was that she would be offered a well-defined career path, one that laid out how and when she would advance.

“This was never true,” she says. “You can’t count on your employer to map things out. You always have to have a vision in your head of what you’re working toward, and while it’s likely to change, you always have to be heading down a path you have defined.”

She adds that each decision can close some doors, but each one also leads to a learning experience, even perhaps showing you that what you thought you wanted isn’t what you had expected, and it’s time to build a new path.

Pogreb had that experience herself, when she took a break from consulting and joined a large bank, on a quest for a better lifestyle and working hours. “Professionally I have never been so miserable,” she recalls, adding that everyone has different needs but it was not for her. “Not being pushed resulted in my problem-solving skills deteriorating, and that was a huge learning moment; I overshot on my quest for lifestyle.”

However, she adds that it was still a valuable expertise, because it helped her learn about herself and what she needs to be satisfied in her career.

She suggests that women share their vision with their mentors and sponsors, who can then be aware of opportunities that might fit.

She has found sponsors to be vital to her career ascent – and they don’t have to be women, contrary to advice she had initially heard.

“When I remember all the sponsors that I’ve been lucky enough to have, most of them have been men. Men have done wonders for my career by exposing me to opportunities and supporting me when it came to promotions and new responsibilities.”

And that’s the outlook she brings to TrueAccord. She appreciates its diversity in race, gender and age but knows that the important thing is to hire and promote the person who can do the job the best.

A Homegrown Role Model

Pogreb’s work ethic has always been modeled by her mother, who was 40 when she brought her to the United States. A music teacher by training, she had hoped to teach but found it too frustrating to be expected to praise children who weren’t prepared for their lessons.

Instead, she went back to school, supporting the family by cleaning and babysitting, and became a nurse, despite a lack of medical background.

“When I start to think about any problems in my career, I focus on her trajectory — her career path was survival, with no mentors or sponsors. I admire her for pushing through and doing whatever it took to succeed. That’s what I intend to do for my family, but I know it’s a luxury that I can also work in a field I am passionate about.”

As a single mom to an eight-year-old and an 9-month old, Pogreb is devoted to providing that stable life for her children and appreciates that her company provides ample flexibility for her to balance her family priorities with work.

Though free time is hard to come by, she used to be a competitive ballroom dancer, specializing in the quick step tango. She hopes to eventually go back to it since it’s an activity that can be enjoyed at any age. And, she finds that dancing is the perfect metaphor for career success: “You have to work together to be successful.”

By Cathie Ericson

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Voice of Experience: Kristin Olson, Partner, Goldman Sachs

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Kristin OlsonFor Kristin Olson, career success comes from being reflective about what you enjoy doing and finding a career role that plays to your interests and your strengths. “Over a long career, pursuing something that interests you and challenges you daily will make you much more successful and happier.”

Olson is a lifer at Goldman, having joined the firm as an analyst in the Financial Institutions Group in the Investment Banking Division right out of her undergraduate studies at Georgetown. She figured it would be a great fit for her international economics background and an ideal launching pad to learn in a firm renowned for its accomplished professionals and tremendous amounts of deal activity. As an analyst, she had what she calls a “phenomenal two year experience,” which included cultivating relationships with other employees who have grown in the firm with her and are now in senior positions.

After two years in the analyst program, in 2000 she joined Goldman’s dotcom effort focused on online wealth management, where she worked primarily on marketing and client acquisition activities. She then joined the Special Investments Group within the Investment Management Division, where she has been ever since, earning steady promotions, until she was named partner in 2014.

“Making partner at the firm where I spent my entire career is something that makes me incredibly proud. When I started as an analyst I couldn’t have imagined it happening. I have had the opportunity to help build and be a part of an incredible team with impressive longevity.”

Olson sees the industry as one that will continue to be exciting.The alternative investment landscape continues to evolve and change and become more accessible to a wider universe of investors.In particular, focusing on alternatives allows Olson to hone in on what the interesting investment trends are and how to access them.For example, today technology is transforming and disrupting traditional industries left and right, providing compelling investment opportunities to capitalize on that growth.

Advice For Women That Resonates

In her experience, Olson has found that women are more likely to second guess themselves or feel less secure in their abilities. “Women have to first recognize their abilities and then be more vocal and speak up. They tend to stay quiet even though they have the same skill set and are just as capable. If there were more female role models at senior levels that would help the confidence of more junior women,” she said, adding that it has to be a priority to get more women role models at higher levels throughout the industry.

She advises young women entering the industry to be themselves, be heard and not to try to conform too much. “Teams really benefit from a female approach and the diversity of thought we bring. Some women feel like they don’t want to stand out, but they fail to recognize that being a woman can be and is an asset.”

And for women who have achieved career success, she urges them to continue to challenge themselves. “It’s easy to become complacent, but when you accept those stretch assignments, you’ll find it’s the best way to continue to learn and grow.” In addition, she finds that stepping outside your comfort zone can allow you to meet a new universe of colleagues, and even find a role you didn’t know would inspire you.

Olson herself had that experience, working with a mentor in investment banking, who had always told her she should consider sales. “He urged me to consider a sales role right up until I ended up in one, and he was right. I enjoy the dynamic nature of managing client relationships and it challenges me constantly”

Goldman Sachs’ Investment Management Division has its own women’s network, with which Olson has been involved over the course of her career. She and a colleague recently assumed leadership of the group and are planning future events. Olson has found it to be an excellent way to get to know more women in the division with its focus on mentorship and networking events.

With two young children, Olson and her husband have their hands full outside of the office too.

By Cathie Ericson

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Voice of Experience: Corinne Martindale, Senior Vice President and Head of Product Management, Voya Investment Management

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Corinne Martindale“If you had told me when I was in college that I would have a career in investment management, I would have said that you were crazy! I am a great example of how you sometimes have no idea where the road may take you, but if you allow yourself to be open to new opportunities, you will end up in exciting places and in roles that you never imagined.”

That is how CorinneMartindale describes her career journey. As an English and Political Science major in college, she had dreams of becoming an editor or writer. After graduation, Martindale worked at a public relations agency and then accepted a position at GE Asset Management, which completely changed the course of her career: she learned about the asset management business through various trade support specialist roles and subsequently worked her way up to a client portfolio management position. When an opportunity to be considered for the role of institutional product manager at Voya Investment Management was presented, she saw it as an exciting way to apply the skills that she had learned at GE while immersing herself in a new company. After serving as a product manager, Martindale eventually became head of product management in 2011.

“I have been fortunate enough to work at companies such as GE and Voya, where if you demonstrate that you are a dedicated, hard-working and fast-learning individual, your previous background doesn’t necessarily limit you – they look for certain skills and traits in employees and then assist in developing your additional industry aptitude.”

Along the way, she decided that to successfully continue on her chosen trajectory, she needed to develop additional business acumen and completed the Executive MBA Program at NYU Stern. “It was one of the best decisions I have ever made,” Martindale said. “Those were two of the most challenging years of my life in terms of trying to balance work, life and school, but it provided me not only with the additional skills and tools that I needed to strengthen my expertise and capabilities as a business leader, but it also gave me a new network of professors and fellow students who inspired and challenged me.”

Even though her current position wouldn’t seem to reflect her initial career goals and love of writing and editing, she has found that having those related communication skills are critical and applicable to every role and have greatly benefited her in the asset management industry.

Risks Pay Off

As she looks over her career, Martindale has had a number of professional moments that have left an inedible impact. After only a few years in asset management at GE, she applied for a role that was typically held by individuals with more years of experience. The hiring manager thought she was too young and wanted to dismiss her as a candidate for those with more experience. However, another senior leader who knew Martindale’s work supported her advancement and relayed that she just needed to be given the chance – that she was the type of individual who would put in the hours and effort to overcome the learning curve that this new job might bring.

“I told the hiring manager that I would not let him down and if given the opportunity, I would promise to be a hire that he never regretted,” Martindale recalls, adding that it took all the strength she had not to let self-doubt cripple her as she continued the interview process. She eventually was offered the ‘stretch assignment’ and went above and beyond to overcome the initial perceptions placed on her to achieve success in the position. Though there were times she felt frustrated that she wasn’t immediately viewed in the firm as an expert, she will never forget the note she received from the hiring manager when she decided to leave the firm. He told her she had proved him wrong and that she was one of the strongest hires he had made.

Personal and Team Achievements

From that experience, Martindale learned that sometimes the toughest jobs or circumstances where others may doubt your capabilities are the best opportunities to test your own boundaries and rise to the challenge. “You won’t learn and grow as a business leader if you always follow the ‘safe’ route and only take on projects or jobs where you are already an expert. “

“I also learned how powerful it is to build your own personal ‘brand’ via the work that you produce in your current role and the importance of creating relationships with other leaders within your organization. There are good odds that one day another leader may need to ‘go to bat’ for you or help you advance to a new level. Having proven yourself to these leaders and having established trusting relationships outside your own team will help you in many ways.”

Another achievement Martindale cited was creating and building her current team at Voya. Moving from an individual contributor role to managing a team that initially included peers as well as colleagues with more experience was new ground for her. Martindale realized immediately that there aren’t many resources (or much time) available for training an individual to manage others, even though it offers new challenges and situations.

She has found that helping her team advance in their own careers is one of the most satisfying and meaningful jobs you can have, as you learn from them and see them shine in the accomplishments they deliver to the firm. “It is so important to hire the right people and support the teams that work with you – and for you – because no one can be successful completely on their own.”

Take a Risk for Greater Return

Looking back, Martindale believes it’s ok to not always know what your next title or job will be – that although you should always set goals and milestones for yourself, they can change or veer off course. “For so many years, I knew exactly what I thought I wanted to be and how I was going to get there and when my vision changed, it shook me a little. I have always been a planner when it comes to my professional life but I have learned that there isn’t necessarily one path that you will lead you to the next step in your career.”

For that reason, she advises young women to take a chance on an opportunity that might initially seem terrifying. “Every project, experience or job that scared me or made me nervous turned out to be the best move for me,” she says. “I wasn’t always successful at first but I always learned from those experiences and they propelled me forward and gave me the opportunity to embrace the next challenge ahead.”

Networking for Success

Martindale hasparticipated as a mentor and mentee in the mentoring program at Voya and has found it to be very helpful as a forum to not only learn and grow from the advice and guidance from female peers and leaders but also from male counterparts. However, she finds that much of her valuable insight has also come from the more informal mentoring relationships she has developed over time.

She stresses that you cannot underestimate the power of networking – both internally and externally with professionals within and outside of your own industry. “I have uncovered so many new ideas or new processes from those in other industries that I can apply to my own roles.”

She says that networking can often be one of the first things we sacrifice in our daily routines because it’s difficult to find the time and can often put you outside your comfort zone if you aren’t a social person. But as you progress in your career, having a network of professional colleagues inside and outside of your own firm is vital to being able to advance.

“Every person has a different and unique story about how they got to where they are in their career and I have found that many leaders are usually very willing to share their personal and career experiences. You can gain great insight and advice by listening to the lessons learned by others.”

By Cathie Ericson

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Mover and Shaker: Jennifer Macdonald, Director of Product Management, NYSE

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Jennifer MacDonaldWhen Jennifer Macdonald describes her career path as highly unusual, “one very few people would ever even consider,” she is not exaggerating.

Macdonald first attended Brown University and then graduated with honors from the School of Visual Arts in New York. With her partner, Hillary Leone, she founded a fine arts collaborative and successfully exhibited internationally, becoming well-known as the only practicing lesbian art duo in the United States. As up-and-coming artists they showed in the Whitney Biennial at the Whitney Museum of American Art, among other places. Their collaboration ended 10 years later in 1999, when her partner decided to move to Washington DC and they realized that collaborating long distance would be too challenging.

Macdonald wasn’t daunted, because she had always been given the message that there was nothing she couldn’t do from her mother, who had been an opera singer, poet and then psychoanalyst. “She made me feel like I could do anything I put my mind to– it might be harder as a woman and a lesbian, but with hard work, definitely possible.”

From Arts to Tech

This confidence led her to accept an opportunity at Sotheby’s, which was her first stop in the transition from artist to executive. Leveraging her art background and her knowledge of computers, Macdonald accepted a position as vice president to launch Sothebys.com taking the 260 year old Sotheby’s auctions, magazine and educational foundation content online in the space of year. She was soon promoted to senior vice president where she led a partnership with Amazon, as well as oversaw the development of the first live arts and antiques auctions streaming with transactional bidding online.

Being in the arts had always been Macdonald’s expected path but when a friend told her the New York Stock Exchange was working on launching the first ever 3D trading floor experience with real-time trading data mapped to it Macdonald says she figured, “I’ve never done anything in financial services; what an amazing opportunity to find out what that would be all about,” and went to work for the company that handled technology for NYSE and Amex. “I had started my career so far on the right brain side, how could I not want to challenge myself to see how far the left brain side might be able to go?,” she said.

Working for the NYSE as a director of product management, Macdonald moved into developing strategic technology for enterprise monitoring and operational tools as well as several major relaunches of NYSE’s core trading platform. She also developed enterprise platforms for consolidating trade desk customer tools and currently is overseeing a major process reengineering initiative creating a plug and play product management practice that will be used across the company’s disparate asset classes that have come online as mergers and acquisitions have brought new products and services in house.

And that is the professional achievement she currently points to as the one she is most proud of. “The processes that my team first instituted in the NYSE Equities Market are being held up as an example of best practices from a regulatory and compliance perspective,” she said. “When we were audited by key regulatory agencies without whose approval we cannot operate our business, it showed that the model I was able to put in place is top of its class, and will make us highly efficient and more profitable as we look to bring new services and products online.”

Finding Strong Women

Over the years, Macdonald has learned how important it is to find a mentor and cultivate that relationship. But it can be a challenge, she acknowledges, given that the lack of women in many industries mean there are fewer choices from which to select. While she says that you can find good men as mentors, she believes it can be an advantage to choose a woman because they often better understand the challenges that other women face.

She advises women to consider mentors at all levels of the organization — not just at the highest levels. “Don’t discredit a middle manager who can be your mentor when you’re starting out; they know a lot you don’t know,” she says, adding that a mentor doesn’t have to be someone who has achieved absolutely everything you want.

In addition to strong relationships, she believes you have to value your own ability to be ambitious about your accomplishments, to exhibit confidence that you can achieve your goals despite obstacles.

Macdonald observes that financial services is an industry that still has a high fall off rate for women as they reach a certain level. “Add in being a lesbian, and you exponentially reduce the number of women in the industry in my shoes.” That doesn’t daunt Macdonald, though, who says that it just takes courage.

Back in the Closet – and Back Out

And that courage led her to be the first woman ever to come out at the NYSE. What was surprising was that she slid back into the closet when she first joined the industry, on the advice of a colleague He told her that even though she had been well known as an artist, that the worlds were so far apart no one would ever connect her with her fame and identity in her other career and it would be best to start this way.

Ultimately she made the decision to come out at work when she and her partner, now wife, decided to have a child. “Regardless of any real or perceived risks to my career it seemed clear to me that it would be unethical to raise a child from within the closet,” she says.

And that’s one of the reasons she believes in being an agent of change in the industry. “It’s still hard for many individuals in our industry to be comfortable with their identity as LGBTQ. Diversity has been proven to be good for corporations and for individuals. It’s a win for all if we can improve the diversity in financial services.”

Toward that end, Macdonald as Co-Chair of OPEN Finance, runs an organization with a mailing list over 5,000 strong that is comprised of more than 40 LGBT ERG networks across major financial services firms, such as Citibank, JP Morgan Chase and Bank of America. OPEN Finance shares best practices for fostering diversity to member firms. At OPEN, Macdonald is also working to boost women’s involvement. “It’s not unusual for me to be one of two or three women in a room with 80 men,” she says.

Macdonald likes to talk about driving positive change through OPEN, citing the group’s support of marriage equality in the upcoming case before the Supreme Court. “Marriage equality is good for financial services firms. We don’t want a patchwork of different classes of marriage for HR to manage in every state and every country. That makes no sense from a bottom line perspective and we have numbers to prove it, not to mention the injustice of it and inconvenience if you move state to state. Married in one, not in the other? “‘ she said. The group actively worked with member firms to collect a record number of signatures in support of marriage equality in a brief that will soon go before the Supreme Court.

On the home front, she and her partner concentrate on raising their five-year-old son, as well as launching their new business, the first urban mushroom farm in New York City which will grow mushrooms from waste such as coffee grounds and sawdust. They also make time as a family to visit their house in the Catskills. “That’s my refuge”.

By Cathie Ericson

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Mover & Shaker: Josephine Shin, Senior Vice President and High Yield Portfolio Manager, Senior Research Analyst, Alcentra, a BNY Mellon Investment Management boutique

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Josephine Shin“Never lose your initial curiosity to learn,” advises Josephine Shin. “Stay engaged, and get outside of your comfort zone because that’s when you learn.”

Shin’s curiosity is what led her to a somewhat alternative path in the finance industry. At the University of Pennsylvania she pursued a Bachelor of Arts degree in Women’s Studies and Sociology, rather than the finance degree that was so prevalent.

But then upon graduation, she found herself surrounded by people asking how she was going to parlay that course of study into a career.

“There were doubts from peers about my choices, but I think it was the best path I could have taken. I got to spend those four years studying something of interest, communicating and formulating my own views even if they were out of consensus, being challenged by others and at the same time staying open to new ideas. Now I am putting those skillsets to work every day professionally and pursuing a profession that I truly enjoy. Shin said. She believes that spending those early years questioning and debating with an open mind allows her to bring a different perspective and to find value in places that may be overlooked.

With an interest in both quantitative and qualitative aspects, Shin joined an investment management company as a fixed income credit analyst. She describes it as an intense time to jump in as everyone was dealing with the effects of the “tech bubble” and 9/11, but a time where she learned valuable skills especially because bottoms-up fundamental analysis of credit was in such high demand. Though the firm she was working for was one where most people tended to stay “for life,” she yearned to be in the heart of New York and, ultimately, moved to work for another firm in a more senior role.

After several years, Shin went to work with a former colleague, but a year later, Lehman Brothers imploded and a majority of her team was dismantled within two weeks. That experience had a profound effect on her. “My comfort zone was shaken. That made me realize that I had gotten too comfortable and started to identify myself with where I work and what I do professionally,” she said. “That’s when I realized that I love what I do but that shouldn’t define who I am,” a lesson that has helped her throughout her career and personal life.

At that point, she decided to return to her roots in investment management and joined Alcentra, part of BNY Mellon, where she’s been for more than six years.

Paving Her Own Path

Shin says the career achievement she’s proudest of is her overall resilience in the face of naysayers and forging her own path even if it meant not following the most conventional options. From the major she pursued, to her desire to move from a comfortable job to New York, she has questioned taking at face value what the majority told her was “the right thing,” in favor of what was the right thing for her. “I listened to myself, and then spoke up to negotiate what I wanted.”

And throughout her career, she has appreciated the path she chose. “I’m in the perfect job for me; you have to be quick and nimble to act, yet have a strong fundamental view because every day there is something new about companies that I’m investing in.” She relishes her new role of portfolio management and the global platform the firm offers because it gives her a strong vantage point to integrate micro and macro data into innovative ideas for her clients.

Shin naturally gravitates toward mentors who share her affinity for making their voice heard, and her professional role models embody that quality at the highest level. She says, “If you find a mentor or sponsor in your workplace who takes time to give you honest feedback on how you can continue to grow in your career without plateauing, appreciate that gift because it is rare. It’s how we grow. Also, stay humble and ask for honest feedback. I have that in my current job and it’s been hugely inspirational for me.”

One of Shin’s early influences is Betty Friedan, whose work helped shape her belief in the importance of challenging the consensus view. “To be an outperformer in this business, it’s vital to have your own voice and thoughts,” Shin said.

She also named Judith Rodin, the first women president of an Ivy League university. Rodin was president while Shin attended Penn. “She is an inspiration to me because she not only relishes in her success, but does not shy away from mistakes or moments of failure in her career and life. I respect that humble dichotomy. She’s a great role model.”

Building Bonds

Shin has been involved in WIN (Women’s Initiative Network), a resource for the professional development and advancement of women at BNY Mellon. She also participates in the Penn Alumnae Women’s group. Her participation with both organizations underscores her belief in the importance of continuing to cultivate a robust network. She has experienced firsthand how the industry can change fast and that it’s vital to have a network already set up.

At the same time, she is cognizant of the fact that when you are employed, it’s compassionate to take a moment to help out others since you never know when you will need support. She especially believes in giving opportunities to women who might not have cookie cutter backgrounds, because they bring a different perspective that can enhance any organization or team.

Shin says she is grateful for her family’s support system. Naming her husband as her biggest supporter, she is also very close to her brother, mother and extended family. On the home front, Shin has a two-and-a-half year old daughter, whom she says is not only the apple of her eye, but makes her a more compassionate and well-rounded person. “I used to take for granted those days I could work into the wee hours at night, but now I have a better understanding of other working mothers. On the other hand, my efficiency has become incredible.”

By Cathie Ericson

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Intrepid Woman: Patricia Kozu, Executive Director, Ascend

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Patricia Kozu“My career would appear to be random but in reality it is not; the common thread is leveraging strengths,” says Patricia Kozu, executive director for Ascend, a membership organization that serves 60,000 pan Asian members through 17 professional chapters and 30 student chapters.

After studying math and quantitative analysis, Kozu pursued a job in technology, which she followed up with stints covering a diverse landscape of functions — operations, finance, marketing, product management and business development. And not only were the functions diverse, so were the industries — from telecommunications to consumer packaged goods to financial service. Now she is in the world of nonprofits, which had been her ultimate goal, joining Ascend November 2014.

“I wanted to have the most well-rounded background possible when I entered the nonprofit world where generally we need to wear many different hats,” Kozu says, describing her path.

Ascend’s goal is to help Pan Asians at all phases of their career develop and achieve their leadership potential. According to Kozu, “From students looking for their first job to executives who want to be on corporate boards, we make it easier for them to get involved and benefit from our programs and give back to the community.”

Having just joined the organization, Kozu has a plan in place. “I’ve always been proud when I implement new ideas or find new ways to do things,” she says, adding that her technique is to find the low-hanging fruit to start off with immediate results, then look for opportunities farther out. So, for example, she knows that Ascend, which is celebrating its 10th anniversary, wants to grow its reach but first they have to make sure the infrastructure is up to speed, that the databases and what they use to support members are in place and are strong.

Culture and Gender are Not Invisible

As a third-generation Japanese Asian American, Kozu began her career assuming her gender and ethnicity weren’t relevant, because of her education and experience. “Since I’d worked at brand name companies and had always been focused on professional development, I saw myself as a competent executive. But I soon learned that others bring their own narrative to my story and might see me first as Asian or as a woman. Now, I see that my Asian heritage is an important part of who I am and others can benefit when I share my experience.”

Right now, she’s proud to be releasing results of Ascend’s latest research project called Hidden in Plain Sight, which sheds light on culture and gender. The results are derived from data from six Silicon Valley companies that made their data public. The final analysis was that race has an even bigger impact than gender. She says they found that white men and women have a higher ratio of leadership roles than Asian men, and Asian women have the fewest. She also notes that less than 2 percent of Fortune 100 board seats are held by Pan Asians, and less than ½ of 1 percent of philanthropic dollars go to Asian organizations, even though Asians are the fastest-growing segment of the United States.

“Ascend is shining a light on important issues and providing recommendations,” Kozu says. “We want to continue to move the needle and demonstrate the value of embracing diversity and inclusion. When there’s diversity at the decision-making table, both in gender and culture, the decisions are better.”

Celebrate the Differences

For women beginning their careers, Kozu advises that they make an effort not to blend in; but rather to leverage their differences. She cites Madeleine Albright and her penchant for colorful pins that would spark conversation. “I’ll see a group of young women all dressed in their black suits and I want them to know it’s ok to celebrate your own individuality.” And, of course, she adds, it’s not just about appearances. Speaking up with that different voice is beneficial for the individual and the organization.

Along with Ascend, women-focused organizations can help. Kozu joined the well-established Financial Women’s Association in the 1980s but believes that an organization like Ascend is very relevant and knows it would have been beneficial earlier in her career.

She urges women to consider using volunteer work at nonprofits as an excellent way to develop their skills and leadership techniques.

Each Ascend chapter has officers and committees so there are myriad ways to try something new, whether it’s learning more about marketing or fundraising. “There is always something to learn, and you never know how your volunteer work can help in your business life,” she says.

Kozu notes that she was able to make the move from the corporate to the nonprofit world by honing her skills as a volunteer providing mentoring, tutoring and then as a board member at a variety of nonprofits.

Mentoring also helped make her a better manager, since the questions her mentees ask offer insight into their perspective as young people entering the work force.

“The message I like to give is that it’s not a one-way street. I’ve learned so much from the women I have mentored, and stay in touch as they move on in their careers.”

Diversity includes age, of course, as well. “I am inspired when I see men and women reaching across generations to share their stories.”

Currently, Kozu continues her volunteer work as a member of the steering committee for the Asian Women Giving Circle, where they fund art projects devoted to social justice issues, such as violence and bias.

“We can talk about these issues all day, but that only appeals to the head. Having an arts project that shines light on these issues and appeals to the heart as well can be so powerful.”

By Cathie Ericson

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Voice of Experience: Carol Nelson, Regional Sales Executive and Seattle Market President, KeyBank

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Carol NelsonFor Carol Nelson, it’s always been about banking. After earning a bachelor’s degree in finance and a master’s in business administration from Seattle University, she began her career at Seafirst, which later became Bank of America, and spent 24 years in positions of increasing responsibility in its commercial and retail divisions.

She left to become president and CEO of Cascade Bank, a community bank headquartered in nearby Everett, Wash., where she spent 10 years transforming it from a savings bank to a commercial bank, serving businesses as well as consumers. In fact, that is one of the professional achievements of which she is most proud. As she notes, changing culture can be challenging, and she found it extremely rewarding to make such a profound change and still be named the “No. 1 Medium-Size Business to Work For” by Washington CEO magazine in 2005. “That much change can be threatening, so the fact that we could also sustain and build morale was really meaningful.”

As Nelson has progressed throughout her career, she has learned the importance of building relationships. During the Cascade Bank transition, she learned that “if others in the organization understand and know you, they are more willing to accept your leadership and any changes you might need to introduce.” She also gained an appreciation for the power of process. “Giving participants the opportunity to buy in will increase the likelihood of success, whether it’s a single project or an overall company transformation.”

Nelson eventually orchestrated the sale of Cascade Bank to Opus Bank and, and following a period of transition, moved on to spend two years as agency director and CEO of the Department of Revenue for the State of Washington. “Having the chance to serve the public and give a portion of my life to public service was a tremendous opportunity, and I thoroughly enjoyed being a member of the Governor’s Executive Cabinet,” Nelson said.

Future of Banking is Bright

Banking called her back though, and she accepted her leadership role at KeyBank in January 2015. “I love being on a steep learning curve, and I am thrilled to have the opportunity to bring my passion for diversity and leadership here to KeyBank,” she said. “I feel very fortunate that I found a career that I’m excited about and have a passion for – some people don’t ever find that and I’ve had it from the start.”

Nelson notes that it’s an exciting time in the industry. People have long predicted the rise of a purely cashless society, or the demise of branch banking as technology advances. But that’s not what her bank is experiencing – she says that customers still want the mix of touch points and so she will continue to lead efforts to deliver a broad cross section of products that can meet the needs of virtually every business and consumer.

“I don’t see that we will ever be able to harness technology to give people the sound advice and financial solutions that bankers do,”

Nelson finds banking to be an ideal career for women, due to the breadth and depth of the financial sector. She encourages women who are interested in career growth to seek a broad range of experience in multiple lines of business.

An Environment of Inclusivity

Though the career is particularly welcoming to women at the entry level, she has seen that as they continue to move up, it becomes more challenging and very competitive. “There are some stereotypes and management styles that can get in the way, but women just need to be smart about how they navigate them.” She notes a strong culture of advancement potential at Key in particular – it is led by a woman and women comprise 36 percent of the leadership team.

Since coming to KeyBank, Nelson has been appreciative of the networking group structure the bank offers. Employees are encouraged to form smaller networking groups where shared interests and backgrounds reinforce employee engagement and a sense of belonging. Current groups bring together Asian Americans, African Americans, employees with disabilities and employees of military families.

There is also a robust Key4Women group that supports the advancement of business women of all levels through networking and professional development events. Nelson says the program got her attention long before she came to the bank because it served employees as well as clients. “Our bankers are passionate about making sure women business owners have access to capital,” she said, adding that since 2005, KeyBank has lent more than $6 billion to women-owned businesses.

Giving Back

Nelson encourages women who want to become leaders to develop their skills by being active in the community early on. “Helping a nonprofit translates into valuable work experience and great connections,” Nelson said.

Her philosophy of giving back has created a mentoring mindset. “I believe that women leaders need to help other emerging women leaders advance their careers in the community,” she says. “Whenever someone asks for some of my time, I try to make it work. Someone paid it forward for me, and I want to do the same for others.”

At the same time, she notes that all senior women have to make savvy use of their time. Which is one reason she is such a believer in volunteer work and its ability to accomplish simultaneous goals.

Nelson is active in the Washington Roundtable, which focuses on economic development. “I am passionate about contributing to a thriving economy. At the Roundtable, I’m networking with peers and serving a mission while being visible on behalf of the bank. Time is finite – I really believe you have to be laser focused with how you spend it.”

She also serves as a trustee to Seattle University, where she is a double alum, and says she is energized by visiting the campus and interacting with the students.

And in her off time she participates in CrossFit – she is a certified instructor and while she doesn’t currently teach, she exercises her right to fitness with thrice-weekly sessions.

By Cathie Ericson

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Voice of Experience: Sanja Udovicic, Partner in Project Finance Group, Shearman & Sterling

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Sanja UdovicicClient service and innovative deal making are what drive Sanja Udovicic, a partner in global law firm Shearman & Sterling’s project finance group in London. “My proudest professional achievements derive from successfully accomplishing my clients’ objectives and delivering their goals,” she says, particularly when working on what she describes as “complicated and interesting deals that haven’t been done before in frontier jurisdictions.”

Her recent and ongoing work, for example, includes advising multilateral lending institutions and commercial banks on the financing of an upstream gas project in Uzbekistan, counseling the government of Croatia on their tendering of a concession for the operation of the Croatian toll road network and advising lenders on a power project in Indonesia which won a number of awards for its innovative financing structure.

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Voice of Experience: Sarita Mohapatra, Partner, PwC US

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Sarita Mohapatra“Even though I was committed to continuing my career after my maternity leave, the first few months were still challenging. So now I proactively connect with other returning women to provide support and encourage retention because I know women can successfully juggle work and a family.”

Sarita Mohapatra, a tax principal with PwC, talks often about how to balance family life and her busy client schedule.

She’s been with PwC since 2001, becoming a partner in 2010. She initially studied economics in India and after earning her MBA came to the United States. A PhD in Economics followed, and she realized she had a love for teaching and spent four years as a faculty member at Utah State University. She decided she wanted to get back to the corporate world and subsequently moved to the San Francisco Bay Area, seeking a position in professional services that incorporated her background in applied economics. After briefly working at another firm, she joined PwC.

Her work remains constantly fascinating to her, particularly the technological advancements that seem to occur on a daily basis. With changes occurring globally related to transfer pricing and the intersection of economics and tax, she finds herself delving into new areas to identify solutions for her clients who are under lots of pressure to deal with regulatory compliance issues.

Don’t Make a Decision for Your Whole Life Based on Today

She worries that young women walk away from opportunities because they sometimes anticipate difficult situations than may never happen. She says that when she started, there weren’t many structured programs to help working moms. Even though she had no idea how to make it work, she knew she wanted to. She saw her male colleagues who have kids and still work, and she figured there was no reason why she couldn’t do the same.

“I learned that you can’t make a life decision based on the one problem ahead of you that day,” she says, citing child care coverage as an example of an issue that is transient in the big picture of your whole career.

“It’s a blip in your career. In a span of 35 years, it’s not much, but too many women think ‘I can’t be here tomorrow,’ so they walk away from everything today.”

Mohapatra says she took her clients into confidence early on, and set boundaries — for example, that two days of the week she had pick-up duties.

“I was fortunate that I had a lot of support and my colleagues and clients, both male and female, always supported me. Women wonder if it’s possible to have it all, so I try to talk to as many as I can to say, yes, it is possible. Even though everyone’s story will be different, this is how I did it. I really try to be a good role model for working moms because even though I had great support from my mentors, I wish I had more working moms as my role models when I was making those decisions.”

Speak Up To Get the Opportunities You Need

Mohapatra advises women to be outspoken and open about their aspirations. She says that while male candidates will routinely ask how long until they make partner, she’s found very few women will start a discussion to find out their prospects for career advancement potential.

“It’s not that they’re not ambitious — I see that drive and hunger — but they hold back,” she says. “I think they are concerned that I might think they are getting ahead of themselves. I coach my managers and staff constantly that if they want to advance, then they need to tell someone, because speaking up allows managers to give interested people the opportunity to acquire the skills and expertise they need.”

She says she focuses on this through her own experience – she had assumed everyone knew she wanted to make partner, so was surprised when she found out they didn’t. Someone asked if others knew, and she said “I think so! This is why I’m working this hard.” But she found out you can’t assume and went back to amend her career plan with long-term and short-term goals.

And the advice can translate for women she would consider her peers. She says that sometimes even at the higher levels, she still sees women will hold back in meetings and discussions.

She credits her viewpoints with her upbringing in India, when her parents would tell her that to succeed in the corporate sector in India without losing her identity she needed to be proud of who she is and what she brought to the table. “They would say, ‘We don’t want you to emulate men to be successful! Be yourself.’” Those words stick with her as she maintains her authenticity in her career.

Networking for Success

Mohapatra says that when she began in public accounting, there weren’t too many learning and development programs so she tried to build up her network naturally by participating in firm-sponsored events or organizing informal lunches or drinks.

“If I could, I would go back and cast my net a lot wider,” she says. “I tell my team to step outside their comfort zone from immediate coworkers and be more strategic about networking beyond those you meet organically.”
Mohapatra is very engaged in PwC’s Office of Diversity initiatives and recently gave the keynote address on the power of networking at the national convention of Ascend, a Pan-Asian organization with which she is involved locally and nationally.

“I tell my team to step outside their comfort zone from immediate coworkers and be more strategic about networking beyond those you meet organically.”

Family Focus

Mohapatra remembers that one of her partners had suggested she network more outside of business hours, which seemed challenging in light of the many long hours she already put in. But she realized that many of her clients also had kids around the same age so she started planning events that included families. “I realized I had to incorporate both my life and work to make better use of the time I had.”

She carries that double-duty ethos into her community service outreach as well, helping in her son’s school and working with Habitat for Humanity, which she combines into a team-building activity with her staff.

When she’s not working, she enjoys gardening, a hobby that she and her family can do together.

Her family loves to travel, looking for areas off the beaten path to get a true flavor of the culture. Her son, who is 12, has already been to 13 countries. “When people ask him to tell a fun fact about himself he loves to say that he’s been to more countries than he is years old.”

By Cathie Ericson

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