Tag Archive for: Voya

Thought Leader: Barbara Reinhard, Head of Asset Allocation and Senior Portfolio Manager for Voya Investment Management’s Multi Asset Strategy and Solutions team

Barbara Reinhard“Every individual in America — from a Rockefeller to a Jones — will face retirement,” says Barbara Reinhard. “At Voya, we can touch every American’s life, and it’s a powerful investment mission when you realize that the decisions we make will help someone realize their lifelong goals.”

This is the philosophy that weaves its way through Barbara’s work, in both the day-to-day and long-term activities of focus. Currently enmeshed in the firm’s annual update to its strategic asset portfolios, Barbara appreciates her work at Voya because the firm is not a “traditional” asset manager. “Very few asset managers focus exclusively on retirement investing,” she notes. “Most want to be everything to everybody.”

Voya’s work with retirement plans means that the long-term demographic trend for the investment business is very positive. “The need for adequate retirement savings affects all Americans” notes Barbara.

One challenge in today’s environment is the uncertainty surrounding business regulation, but there are endless opportunities as investors seek value-added advice.

Analytics will continue to be one of the biggest tools Voya has at its disposal, which helps drive innovation. “We are increasingly mining big data to help inform our investment analysis and further our understanding of trends,” says Barbara. “This information is exceedingly valuable as we strive to meet our clients’ needs.”

The best advice she can offer other women in the industry? “Early on, identify a good mentor who can give you sage advice throughout your career.”

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Voice of Experience: Angela Harrell, Senior Vice President, Corporate Responsibility, Voya Financial; President of Voya Foundation

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LC_Harrell-Angela_full By Cathie Ericson

“Women sometimes feel like they must have all of the answers in a male-dominated industry,” says Voya’s Angela Harrell. Harrell believes that women tend to put pressure on themselves, and hang back, rather than apply for an assignment or position because they might not feel like they check every single box. Men alternatively may only have half the necessary skills, but apply because they plan to manage the uncertainties as they arise. “As women, we need to believe that we are capable and can achieve whatever we set our minds to do. Perfection can be the enemy of good,” she says.

This translates to the board room or in meetings. “Women sometimes risk coming off apologetic or even discount their own expertise with phrases like, ‘You may have already thought of this, but …’ or ‘This might not be a good idea, but ….’ If you have an idea, sell it,” says Angela. “If you are going to speak up, do so with conviction.”

A Varied Career, Focusing on What Really Matters

After earning degrees in foreign affairs, Harrell expected to move into international work. Instead, after grad school, she joined a consulting firm and subsequently an executive recruiting firm, which relocated her to Atlanta. As a Coca-Cola Scholar, she had ties to The Coca-Cola Company and soon joined them as a project manager in the chairman’s office, coincidentally replacing another Coca-Cola Scholar.

There she worked for the chairman and CEO, eventually moving into public affairs and communications, where she performed a wide variety of functions, including executive speech writing, media relations, internal communications, overseeing the annual report, the sustainability report and global photography. During her tenure she travelled extensively, including spending two years as an expat in South Africa.

Two years ago, she joined Voya Financial, where she heads up the corporate responsibility function and serves as president of Voya Foundation. “It is truly a culture that embraces corporate responsibility and all its facets, from ethics and integrity to sustainability and serving clients in a way that reflects our mission and values.”

A Service Ethic

This ethos is evident throughout the company. While Voya employees donate to charities at what Harrell calls “an extraordinary level,” employees are equally as generous with their time. Harrell oversees Voya’s National Day of Service (NDOS), where 60 percent of the company’s 7,000 employees (and 100 percent of its senior leaders) logged 13,500 volunteer hours this year.

For the event, employee-led committees across the country selected community projects for volunteerism efforts. Employees embraced the opportunity to interact with a diverse network of project participants, all in the name of serving the community. Harrell sees this effort as one that encourages ongoing volunteer behavior, since many people desire to help but are daunted at the prospect of diving in on their own. “Volunteering with colleagues to make a difference in a community infuses a different kind of dynamic into relationships and really reinforces the power of working together. In 2016, family members were invited to participate in the event.”

Harrell has acquired a more holistic understanding of how corporate responsibility manifests in financial services, affecting everything from environmental, social and governance (ESG) influences on investment decisions to the importance of transparency and disclosures. “It’s exciting to see businesses and individuals increasingly take ESG into financial investment considerations and think about the long-term impact on people and the planet,” she says.

Imparting Lessons to the Next Generation

When looking over her career, Harrell notes that her achievements of real significance have involved empowering others. “I am proud of how my team members have stretched themselves, either to transform an existing program or to develop a new, groundbreaking one,” she says. “When I stand back to consider my achievements, they center around enabling others to flourish by providing guidance and coaching as a partner, rather than being prescriptive,” says Harrell. “If you give guidance and help clear the runway, people can really soar.”

She adds that the best feedback she can get is positive input about a member of her team. “That is how you multiply and scale your effect,” she says.

Part of this focus stems from her early years when she was self-reliant to a fault, determined to accomplish everything by herself. But that attitude can preclude opportunities to understand other people’s perspectives and how they might approach things, which can influence you to think creatively. She soon realized that asking for help or input would allow her to grow, rather than reflect weakness.

“The kind of leader I want to be is the one who says, ‘How can I help you?’ but lets people succeed on their own,” she says.

She also encourages young women to think about their own personal brand and how they want to be perceived by others. “It’s not about being someone you are not. It’s about making sure you are yourself in all facets of your life,” she says. “If there is too much dissonance between who you are at work and who you are in your personal life, it can be exhausting. You can be your own true self and be successful.”

She mentions one woman who said she was always feeling pressure to “not be too nice” and be less emotional, which was contrary to her personality. Harrell urged her to choose the path where she could be herself, while ensuring that she wasn’t so nice that people would walk all over her.
She reminds senior women to pause and make sure they are continuing to build relationships with those around them, with a special recognition of more junior women.

“Part of our responsibility is to reach our hands down and bring others up with us,” she says, adding that it can be informal and doesn’t need to be overly time consuming, like connecting during lunch or for coffee. “We have to transfer some of the strength we have to those who are less experienced.” As such, Harrell often mentors other women and is active with many of Voya’s employee-led committees.

Noting that many women lead the community-oriented groups at each of Voya’s sites, she says those roles allow women to hone leadership skills they might not otherwise obtain. She recommends women take advantage of leadership opportunities within employee resource groups or through the mentoring programs their companies may offer. They help women flex their leadership muscles and meet colleagues they wouldn’t normally interact with often.

A Global Citizen

An avid traveler who has lived in eight countries and traveled to more than 50, Harrell is serious about her globe-trotting. She is an adventurer who immerses herself in different cultures. “I love learning about culture through the way people greet each other, their dress, food and all other nuances you experience when you get off the beaten path. It really fuels me,” she says.

Equally intrinsic are the many experiences she can obtain right in New York. “The entire world is here, no matter what I want to see or eat or the language I want to hear,” she says. “It’s amazing to literally be surrounded by the world.”

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

rebecca-knieselBy Cathie Ericson

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

Charting Her Own Course in the Financial Industry

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Change Leader: A Q&A with Christine Hurtsellers, CIO Fixed Income, Voya

Christine HurtsellersWe caught up with Christine Hurtsellers, Chief Investment Officer of Fixed Income for Voya Investment Management (IM), to talk about the future of the financial services industry.

Nicki: What has changed since we last interviewed you back in 2010?

Christine: I still have the same role, however, following our IPO in May 2013 and separation from ING Group, we rebranded as Voya. It’s been an exciting process to define Voya’s values and recalibrate our investment policies. In 2015, Pensions & Investments Magazine named Voya IM one of its “2015 Best Places to Work in Money Management” list for the first time. The firm also recently received distinction as one of the World’s Most Ethical Companies® by the Ethisphere Institute for the third year in a row.

Nicki: Why do you think it is so important to help advance good talent, including more women in the industry?

Christine: I am passionate about making the investment industry better. I want to help rising stars in the industry that are women and provide them with a toolkit. I believe that women can be phenomenal investors, and I want to challenge and speak with them to help them grow as thoughtful investors. People entering this industry are looking for more than a paycheck. They value experience and want to work for places that are more values-based. I think it is great that millennials are thinking way more about linking their values to their workplace experience than previous generations.

Nicki: What is your advice to someone entering the industry or who is in the early stages of her career?

Christine: The cost of doing business is increasing and as a result we will see some consolidation. Some products are becoming more commoditized with ETFs showing up more for retail investors on that side of the business. It is an interesting time to be in the industry as institutional clients look for unique, customized approaches for their portfolio. The road is becoming more and more bifurcated. For people entering the industry, there is a temptation to become specialized early at a boutique firm. I believe it is critical to stay flexible to learn a variety of skills for the first 8-9 years of your career. My advice is to look for companies with multi-dimensional businesses to give yourself that opportunity.

Nicki: You recounted to me how one time a woman said you were an unrealistic role model. How did that make you feel?

Christine: I don’t want to be the poster child for women at work because I have five kids and I run marathons, that isn’t everyone’s version of life. How do we lift as we climb? That is the bigger question, and I think the answer is to share with people my failures and some of the decisions I have made. I try to be real and make sure my advice is very content oriented about the markets and investing. By challenging and teaching people, I can be a better role model. Lastly, if I can use my network to help women and make appropriate introductions, then I know I am walking the talk.

I try to hire women and I use my network because a long time ago a woman did the same for me and she was instrumental in helping me get my next job. She was in fixed income sales and she introduced me to many clients and people in the industry. This was crucial in me securing my next role at what is now Alliance Bernstein

Looking out for each other in times of trials is so important. To have someone put her credibility on the line and say “hey, talk to this person” is incredible, and this woman did that for me, so I want to pay it forward.

Nicki: How do we ensure other leaders are as accountable as they think they are for real change?

Christine: I think the best way to engage leaders in the discussion of having diversity in their teams is to challenge them to think about what they do to shape the culture.
Sometimes it isn’t obvious to other leaders that they need to create pathways and a culture for success for women that goes beyond mentioning their women’s network and other HR policies.

I want to see accountability for diversity, and if I start with the numbers – literally asking how many women are in senior roles – then it usually opens up an honest conversation with most male leaders to think more about how they can approach hiring and developing more women.

Nicki: How have you successfully built relationships in the industry – both within your firm and with people in other firms?

Christine: Networking can be such an implicit action; it’s just something we do. You meet interesting people along the way and share relevant insights with them – add value to the other person and they will reciprocate – like in a marriage you have to love and you have to love first.

I joined the Treasury Borrowing Advisory Committee in 2014 and I am enjoying working with really talented and intelligent people on a very interesting subject that has real consequences. I work at leaning in with them. Sending an article to a small group who share common interests, dropping them a note from time to time. It is about contributing as best as you can to further the task and mission. Building relationships is ongoing, and it is an honor to work with such great people providing recommendations to Treasury on a variety of debt management issues.

Nicki: Do women help other women at work?

Christine: I would go as far as saying that I believe that women help women in tough situations, more than men help other men. It is also important to look for your advocates in male and female leaders as I have great examples of how men have believed in me. Rob Leary, now CEO at TIAA Asset Management, was the person who gave me the job at Voya. I wasn’t the most obvious candidate, and he took a risk on me. He knew I was great with people and an exceptional investor, and I delivered for him.

Nicki: What is the one thing you know now that you wish you had known when you were first starting your career?

Christine: I went it alone for a long time. The power of networking peers and mentoring is something I wish I had considered when I started my career. I wish I had focused more on the quality of management, their values and ethics, and the culture they create at the company.

In life, you take every opportunity and you learn – in careers, as long as you maximize learning, you are on the right path. I ended up fine tuning my experience in mortgage derivatives when I made a move to Freddie Mac. Many advised me against it, but I knew it was important for me to spend more time with my family as previously I wasn’t seeing them from Sunday night to Friday afternoon. I learned so much. It meant I could come to Voya due to my deep knowledge, and for my life at that time it meant my family and I could be happy, which is of course really important.

It’s about making the best out of any experience.

Christine is also a panelist at our upcoming event – theglasshammer.com’s 5th Annual Navigating your career event on May 4th 2016.

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Movers and Shakers: May Tong, Vice President, Portfolio Management, Multi-Asset Strategies and Solutions, Voya Investment Management (formerly known as ING U.S. Investment Management)

women salesWelcome to The Glass Hammer’s Celebration of Asian Heritage Month! All month long we will be profiling successful women here in the US who have Asian heritage as well as spotlighting some amazing women in Asia and discussing what it means to work there.

“Seek broad experiences,” advised May Tong. “Use these experiences to establish what your passions are and which path you want to take in your career. Then, go for it full steam ahead,” added Tong.

Capitalizing on Career Opportunities

Tong graduated from Boston College where she studied Accounting and Finance. Upon graduating, she accepted a position in the Quantitative Advisors group at Merrill Lynch Investment Management, where she would be responsible for managing index funds and enhanced index funds. “This was such a valuable experience for me, both professionally and personally,” said Tong, “because I learned every detail about how to manage a fund and I was fortunate enough to work with really great managers who ultimately became mentors to me in my career.”

Three months prior to the Merrill Lynch and BlackRock merger, one of Tong’s most influential managers at Merrill had moved on to Voya Investment Management to start up the Quant Portfolio Management team and brought her aboard to join his team shortly after. “He took me under his wing, guided me, and gave me the autonomy to help him build out the quantitative portfolio management group,” said Tong.

The financial crisis of 2008 resulted in some internal restructuring at Voya Investment Management, which ultimately opened more doors for Tong and led to career-changing opportunities. “I was forced to think about my future career path and the direction I wanted to take,” Tong noted. “This made me realize that while having skill and expertise in one particular area is a good thing, I wanted to gain a broader perspective of the industry.”

At this juncture, Tong decided to earn her Executive MBA from Columbia and was sponsored by Voya Investment Management. “It helped me grow and increased my value to my company,” remarked Tong.

In 2010, an opportunity presented itself within the Multi Asset Strategies & Solutions (MASS) group and Tong took advantage of the chance to expand her depth and breadth by managing asset classes as opposed to funds. “It was a steep learning curve, but also an incredible learning opportunity, “said Tong, “and now I have been working with the MASS team for almost three years.”

According to Tong, her ability to make this career move, and thrive in a different environment, was made possible by the strong leadership and support she experienced from her managers. “I cannot express enough how valuable it is to have good managers who give you the space and support to grow professionally,” stated Tong.

She also credits her success to the fact that she stepped outside her comfort zone and took her career in a different direction. “There are days I miss the black and white aspect of fund management, but I love the fast-paced and dynamic environment of the multi asset strategy team,” explained Tong.

Maintaining Equilibrium

According to Tong, maintaining a healthy balance between personal and professional endeavors throughout her career is something that she is proud of. “Finding that happy medium is certainly different for everyone,” said Tong, “but I have found what works for me and in turn I find that I am extremely satisfied in both my work and home life.”

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