Tag Archive for: Voya Investment Management

Mover and Shaker: Yuko Ikeda, Vice President, Senior Human Resources Generalist, Voya Investment Management

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yuko ikedaBy Cathie Ericson

Yuko Ikeda carries with her the image of a young woman navigating the streets of New York, holding a tote bag emblazoned with the words “Carry yourself with the confidence of a man.”

To her that is the epitome of what will help women succeed in the workplace. “I believe some women create their own barriers by underestimating their abilities and waiting too long to grab opportunities,” she says. “Also, projecting confidence is a big part of advancing your career. Generally, men do this better than women.”

This is why she advises young women to work hard, but effectively, and with a purpose. “Be smart by having a keen focus on the big picture,” she says. “You have to understand your business and how your company makes money, and then develop a line of sight to how you connect to that and how you can contribute. Volunteer to fill gaps and look around to find ways to help the team succeed with the interests of the firm at heart.”

She recalls the words of one of her sources of inspiration, General Electric’s Jack Welch, who reminds people to “Control your destiny or someone else will.”

“While hard work is only the ticket to entry, high performance will broaden your choices since people are watching and will offer you new opportunities,” says Yuko.

Creating Her Own Success

Ikeda has seen that philosophy at work as she has created her own HR trajectory.

Born and raised in Japan, Ikeda started her career in the Tokyo human resource offices of American companies. Her first stint was with semiconductor firm General Instruments; since they didn’t have an official HR department, she describes her three years there as a time of self-learning, where she attended seminars and read books to understand HR theories and best practices. She was fortunate to have a great mentor who guided her throughout her time there, which demonstrated the importance of having mentors in your life. After that valuable experience, she developed relationships with two other life mentors later in her career – one Japanese and one American – who became indispensable in her personal development which she cherishes to this day.

During her tenure, she built the infrastructure they needed, implementing various processes such as customized performance reviews, all without formal training. “It was like creating my own business school curriculum where I would apply theories and make them practical,” she says.

Thanks to her active participation in one particular seminar she attended, she was noticed by GE Capital and recruited there, an important move considering GE is known as a luminary and trailblazer in the HR field. Their well-established HR function helped propel her to the next phase of her career. “It was like drinking from a fire hose,” she says.

She was offered to be on GE’s “HR Leadership Program (HRLP)”, a program designed to help develop and nurture the leadership pipeline at GE . She rotated through stretch assignments and global seminars during the two-year program, giving her career an enormous boost. At the end of the program, she was assigned to be head of recruitment, leading a group of older team members, many of them male. She quickly found that not all of them felt comfortable being managed by a younger female, which ultimately offered another step in her growth.

When AIG acquired one of the units, Ikeda was chosen to be the head of Japan human resources for their asset management arm, AIG Global Investment Group. This opportunity constituted a major promotion which she held for four years. At the time she was reporting to the global head of human resources who asked her in 2008 if she would be interested in a newly created global HR Generalist role based out of the New York office. In this new role, Ikeda partnered with the equities, fixed income and business development teams on a global basis. A month later, the AIG meltdown occurred, which expanded her responsibilities to include leading the HR effort on the separation and divestiture activities. This gave her invaluable experience with change management and navigating through uncertainties.

Five years ago, she moved to Voya Investment Management, working with various investment platforms as a senior HR generalist. She is currently leading the talent review process, where the senior leadership team comes together for a full day to discuss succession planning as well as identifying emerging talent for Voya’s future leadership pipeline and building bench strength. “We are entrusted with people’s money, so it’s vital to have a strong succession plan in place to ensure our clients remain our focus and their money we are entrusted with has the best talent overseeing it.”

A key part of that is talent retention; she is proud that Voya Investment Management is routinely named one of the best places to work, which reflects well on its culture and provides an important differentiator in a saturated industry.

“Our focus on culture and talent development not only leads to better company performance but also provides a competitive edge,” she notes. “When we are in the finals or part of a due diligence process, we may be competing against companies with similarly strong performance and competitive fees, so we believe that culture is increasingly becoming a key decision factor.”

Being Mindful Can Help Reduce Unconscious Bias

Ikeda believes it’s important to be mindful for two key reasons. “One, it helps you grow – the more conscious and focused you are on the moving parts, the more you see the connections between the tasks you are busy fulfilling, as opposed to being on auto pilot.”

Secondly, she says that being mindful will allow professionals to see deeper into unconscious bias to help identify it and make an effort to explore with curiosity how to address it. “This concept has been increasingly a part of our conversation, and we have to deepen our understanding of why it happens, which is the only way we can work toward changing it.”

She believes that it’s important for professionals to choose a company that is consciously making an effort in diversity and inclusion initiatives, such as Voya is with the women’s network and various other programs of which she is a part.

When not helping improve HR at Voya, Ikeda enjoys traveling with her life partner, particularly seeking out experiences where she can be in nature. “It gives me perspective in life and renews the energy I bring to my work,” she says.

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Mover and Shaker: Stefanie Stewart, Vice President, Senior Real Estate Portfolio Manager, Voya Investment Management

stefanie stewart featured“Hard work doesn’t go unnoticed. It’s important to be aggressive and vocal, but respectful. People won’t always agree with you, but in a relationship business, upholding your reputation is essential.”

Conquering a Male-Dominated Industry

These words of wisdom have helped propel Stefanie Stewart through her ascent in a traditionally male-dominated industry.

A finance and real estate major in college, Stefanie worked in student housing, which sparked her interest in commercial real estate.

A professor helped connect her with ING (now Voya) and she started as an analyst eleven years ago, working her way up through the ranks. Seven years back, she moved from an analyst to a production role with her own territory, which she names as the professional achievement she is most proud of so far – her success in exceeding production goals.

“That win was particularly sweet,” said Stefanie considering an experience she had prior to joining Voya – where she has enjoyed being supported throughout her career.

“I was given an interview as a courtesy. At the end, the male manager said, ‘The commercial real estate industry is a good ol’ boys network, I don’t think it’s a place for a young woman.’” Stefanie used the experience to motivate her.

“It is a male-dominated industry, and when I made the transition from analyst to producer I wondered if I would be as successful as the guys at building external relationships. Typically, at first, you start with people lending their relationships, but then you have to build your own book of business,” she notes. Stefanie is proud that she’s been able to succeed and build a reputation for herself in the industry, with the support of her team.

Building Relationships to Build Your Career

A member of Path Builders early on in her career, she has also taken advantage of a variety of women’s networking events.

Stefanie has found sponsorship to be important in her career, with managers who have been committed to putting her in front of senior managers. She says she was fortunate that she was part of the mentoring program while making the transition, which was great timing to help her navigate the waters professionally and even politically.

She also credits much of her growth to managers in the group who have given her opportunities that she acknowledges she often wasn’t yet ready for – some of which filled her with fear, whether it was being in front of senior managers, a complex deal or participating on a panel. In hindsight, each was pivotal in her career. “They have only made me better, and now I look forward to some of these situations that make me uncomfortable, because I know they will give me the opportunity to continue to grow.”

She has had many role models along the way too, and knows that sometimes they can serve as a model of as much what not to do as what to do. “I’ve learned a lot by observing how people handle things under stress or react to criticism, and it has helped me remember that you can always learn from positive feedback.” External role models who are navigating similar challenges, from different sides of the equation, can also be helpful as a sounding board.

Her experience in the real estate program at Florida State University prepared her well for the real estate business, and she now serves as a mentor for recent graduates of the program, as well as visiting to provide case studies for the classes and sitting on a real estate trends conference planning committee. “If I can help a 22 year-old find their way, that is very gratifying to me,” she says.

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Mover and Shaker: Sara Donaldson, Vice President, Proxy Voting at Voya Investment Management

sara-donaldsonBy Cathie Ericson

“That’s not my job’ is something I would never say,” asserts Voya’s Sara Donaldson. “If something needs to get done, with the support of the individual ultimately responsible for it, I will take responsibility for it to make sure it gets done.”

Part of that value includes following up when needed. “It’s ok to say you don’t know something, but you should also work toward a resolution by asking questions and putting that knowledge to work,” she says, a strategy much better than making something up or not following through with an answer.

Proud to be a Corporate Governance Professional

Donaldson began her career at a real estate advisory firm, overseeing investor relations, marketing and legal support and regulatory compliance. She became interested in equities and in 1997 accepted a position as a paralegal at a global equity advisory firm, believing that once she proved herself she could expand her responsibilities.

In that role, she oversaw U.S. compliance, mutual fund administration and global proxy voting. Some of the firm’s institutional clients compelled the firm to take a more active oversight role in the companies in which they were investing. Chairing the global proxy committee, and working closely with the investment team and corporate governance committee during this time, prompted her interest in corporate governance. In 2014 she joined Voya to concentrate on that field.

“Voya Investment Management and the Voya mutual fund board are committed to voting proxies in our clients’ best interest,” she says. “One of the Voya mutual fund board members described my role as an advocate for our mutual fund shareholders, and I take great pride in that. I also take pride in representing Voya when I engage with the public companies in which we are invested.”

Through her years in corporate governance, she has been impressed by the power that shareholders have to influence the companies in which they are invested. “I have become much more interested in how companies and shareholders address environmental, social and governance issues. It is fascinating that shareholders could materially influence how companies approach some of these issues,” she says, noting such topics as the “old boy’s network in the board room,” CEO pay, environmental risk and others. “Additionally, investment advisers are looking at more than just financial statements; they are also considering these issues when evaluating companies.”

Right now she is involved in transforming the proxy voting process she had inherited upon joining the division. Currently, they process and vote at more than 8,000 meetings annually. Historically, the analysis and all of the documentation for every meeting has been printed. In order to gain efficiencies, promote sustainability and reduce costs, they are moving to an electronic process.

Through her many years, she has built numerous skills, and one she recommends refining is public speaking. “When I give a presentation, I make sure I have rehearsed so I can interact with the audience rather than reading from a slide deck or paper,” she says. “Having your talking points well prepared allows you to relax and perform better.”

Networking Inside the Company and Industry

Donaldson participates in a few of the networking programs at Voya, but also finds great value in a group of women in corporate governance who meet at industry conferences. She considers the other members to be role models and appreciates the candid conversations they can have about similar issues they face when making decisions on how to vote on behalf of shareholders.

“Corporate governance is always evolving, so it is advantageous to have this network as a resource,” she says.

She also believes in bolstering other women’s talents. When she first joined the financial services industry, she saw that the layers of middle management were male dominated, as historically this had been true.

“Back then, I saw some of my female peers not being able to achieve the same level of success as men, even if they were equally qualified or more accomplished,” she says, noting that women are making great strides but this is still the case in some areas of the financial services industry.

Enjoying Her New Desert Lifestyle

Donaldson moved to Arizona from San Francisco when she accepted her current position. As empty nesters with three grown children, she and her husband were excited to pack up their two dogs and move to Scottsdale to enjoy new adventures.

They have embraced the beautiful weather. As avid cyclists, they enjoy riding with local clubs. “I especially enjoy walking my dogs early in the morning and watching the sunrise and then enjoying the sunset while we eat outside,” Donaldson says.

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Movers and Shakers: Kristy Finnegan, Portfolio Manager, Voya Investment Management

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“When you begin your career, it’s easy to assume that you’ll choose your path, and that you’ll start at the bottom rung and work up in a linear fashion,” says Kristy Finnegan, a portfolio manager on the global equity team at Voya Investment Management.

Movers and Shakers: Kristy Finnegan, Portfolio Manager, Voya Investment Management“But the truth is, you determine your own progression by asking for responsibility and taking chances.”

This theory has propelled Finnegan from her initial career in investment banking after earning a BS in economics from Vanderbilt University. She moved to New York with the intent of landing a position on the sell side, but the 9/11 tragedy set off a hiring freeze.

Finnegan eventually joined the precursor firm to Voya, where she started pursuing her Chartered Financial Analyst® designation, initially working with the small cap value team.

A Courageous Meeting Yields a Career Break

When Finnegan realized she was not in her ideal role, she worked up the courage to pitch a stock, unsolicited, to the portfolio manager.

“It ended up being the best career move I ever made,” she says, since it set off a discussion that ultimately led to the manager recognizing what she wanted to do and moving her into a junior analyst role. To this day, she says the portfolio manager she spoke with was fundamental to her career success. “He believed in me and took a risk in promoting me into the analyst role. He guided me the first few years, during the start of my career path, and his investing style of avoiding group think formed my current approach to stock selection.”

That was her first break into equity research, which she followed with a stint as a technology analyst and then consumer staples analyst before becoming a portfolio manager. “That was a huge professional achievement, because it was a recognition of both my analytical abilities and interpersonal skills,” she says.

In her current role on the global equity team, she has been instrumental in forming a platform that brings together U.S. and international teams and portfolio engineering groups. “Joining these groups has been a really exciting process and we are off to a great collaborative start,” she says.

Learning Along the Way

For Finnegan, learning moments have come via mistakes, as they do for most. Equity analysts work with available data to form estimates for the future, which means there are inherent risks. “Early on I missed some lucrative opportunities because I deferred to others rather than trusting my own work,” she says. “Those misses taught me to be an advocate for my own stock picks and trust my instincts.”

Finnegan believes that success comes most naturally if you love your job. “I’ve always had career goals, but my major motivation is to excel for both myself and my team, and that breeds success.”

While she credits her portfolio manager as her sponsor, Finnegan knows that you can find mentors anywhere and everywhere, which is why she names Sheryl Sandberg as one of hers. “When I read her book Lean In, I felt like she was talking to me, with clear, tangible advice on how to overcome obstacles and the challenges that all of us face.”

Mentoring the Next Generation

Several years ago, Finnegan was part of the team that introduced the Voya Investment Challenge in collaboration with Girls Inc. She and another colleague were chosen as volunteers to lead a group of eighth grade girls. They worked with the same girls through sophomore year, educating and mentoring them on financial foundations and how to take charge of their financial future. The challenge took place over three years, concluding in their sophomore year. They were given $50,000 pretend dollars gradually over their first year, which they invested it in stocks, bonds and other funds. They tracked the investment performance and made buy/sell decisions as you would with a real portfolio.
“It is so important for girls to gain exposure to these situations where they might not otherwise have the chance to learn these principles,” says Finnegan. Her involvement came full circle when a colleague attended this year’s celebratory lunch and excitedly told her that one of the speakers was a girl whom Finnegan had mentored, now attending Cornell University. “It was so impressive to see the success she had become.”

These days Finnegan is still mentoring young people, but it’s her own children, a five-year-old daughter and three-year-old twins. She’s also an avid reader and runner, but spends most of her time having fun with her family.

By Cathie Ericson

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Mover and Shaker: Yingli Zhu, Senior Portfolio Manager and Manager of Quantitative Research, Voya Investment Management

Yingli ZhuBy Cathie Ericson

“Luck is what happens when preparation meets opportunity,” is one of Yingli Zhu’s favorite expressions. “That’s because when the next opportunity arrives, you will find yourself ‘lucky’ if you are prepared to take advantage of it.”

Making the Most of Opportunities

Zhu’s career is the result of this equation. After earning a Ph.D. in nuclear engineering, she joined the newly formed quantitative risk management team at ING Investment Management (now Voya Investment Management). As a logical, numbers person wanting to understand the math behind any idea, she found the position to be perfect for her.

Although Zhu had a very limited knowledge of fixed income prior to this role, working directly on different projects provided her with the opportunity to understand the building blocks of, and nuances for, fixed income securities.

Soon, she shifted her focus from data analysis and modeling to working closely with portfolio managers in different asset classes, developing tools to help them manage asset risks. Shortly after the financial crisis in 2008, the company underwent a major reorganization which created what she calls a “lifetime opportunity” to join the mortgage derivatives team, where she’s stayed for the past eight years.

“Never in my wildest dreams did I think I’d be part of a team managing multi-billion dollar assets for corporations,” she says, adding that she finds it satisfying on a daily basis. She notes that a luminary in the industry, Bill Gross, once said that a good bond manager should be 1/3 mathematician, 1/3 economist and 1/3 horse trader. “I’m proud to work on a team that combines so many talented individuals,” Zhu says.

Every day can present a great investment opportunity as the team works to achieve optimal risk adjusted returns and income while considering different reporting and accounting standards. “We have to be constantly creative and reinvent ourselves to achieve optimal returns,” she says. The decisions are complex since national and international developments can all have a direct or indirect effect on the assets that are bought and sold on a daily basis.

“All these developments can create opportunities, and it is always exciting to see how we can leverage these opportunities to create value for investors,” she says. “We evaluate new instruments we’ve never looked at before and study them to understand the risk/return profiles and determine if they are the right investment for each of our many portfolios.”

Hard Work Paves the Way for Success

Having grown up in China, Zhu had little knowledge about the financial industry and its corporate culture when she first started. “I assumed that I could succeed with hard work, determination, diligence and persistence, and those attributes continue to serve me well whenever there’s a new challenge I need to tackle,” she says.

What she appreciates about working at Voya is that everyone is an expert at some part of the business, so she can always find a resource to help her with any issue. “Everyone is willing to channel their energy for the good of the team,” she says.

Zhu’s current boss has always been her mentor. “We’re on the trading floor together so there is constant communication. If I have questions or need help I can get immediate feedback and help to resolve challenges,” she says.

Like her colleagues, she strives to be helpful to anyone who’s willing to learn and wants to move the business forward.

Over the years Zhu has found that the best learning approach is often getting your hands dirty. “If you see a challenge within the business that doesn’t seem to be your direct responsibility, but is one you can contribute to, you are going to benefit if you step up and help resolve it because of what you will learn along the way.”

While it’s common for anyone to wonder if what they do will pay off, she maintains the belief that all of her effort and persistence prepares her for the next challenge.

But no matter how exciting her days are at work, Zhu says she can’t wait to come home each day to see her family: her husband and her two children, ages four and one, whom she calls “the joy of my life.”

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Mover and Shaker: Karyn Cavanaugh, CFA, Senior Market Strategist, Voya Investment Management

karen cavanaugh, voyaSuccess comes from two major strengths, believes Karyn Cavanaugh, CFA and senior market strategist in Voya’s Multi-Asset Strategies and Solutions (MASS) group. “Work hard, but be nice. People work with those whom they like to work with, so be that person. Then back it up with competence. Be the person who does what needs to get done,” Cavanaugh says. This approach has served her well. Even though she was never actively jockeying for position, she has a reputation as someone who did more than was needed, always moving the ball forward.

Cavanaugh admits her career path was not as linear as most. She says she spent her 20’s “making money and having fun,” as a consultant. She then had three children in three years, so her priority was juggling that with work. At the age of 40, when her youngest started school, she realized it was time to focus on her next move down the career path she wanted. She took a position in internal business development, using her finance background, and then the recession hit.

“My whole group was kicked out, and that’s when I figured out the importance of networking,” she says. Although she had actively participated in groups for fellow University of Connecticut alumni and Chartered Financial Analysts®, she admits that “it was a brutal time.”

At the same time, Cavanaugh saw a chance to reinvent herself. “I realized I’m a finance person, and my other career paths hadn’t been as fulfilling because, deep down, I’m an investment person who loves looking at the market and following economics.”

By happenstance, she ran into a colleague who had hired her right out of college, who was working for ING (now Voya). He remembered she had been both smart and a good worker, and took a chance on her.

Together, they created and evolved the Global Perspectives program, parlaying $40,000 they had been given in seed money into $750,000,000 over four years. Cavanaugh routinely appears on CNBC, Fox Business News, Market Watch, NPR and other shows as a spokesperson for Voya. For Cavanaugh, it’s a dream position. “I get to manage a portfolio and share my views on the market,” she says. “Things do work out if you work hard.”

Right now, she is most excited about continuing to grow the assets under management and build wealth for the investors. The current volatile market has made her portfolio shine, she says, because it focuses on mitigating risk. “In this type of market, people realize they need professional advice and management,” she says.

The Myth of Corporate Drama

Corporate America hardly lived up to Cavanaugh’s worst fears, where she pictured a back-stabbing TV drama. “The reality is most people just want to do great work, do their job successfully and go home. They do want to help each other.” That’s been a welcome realization that has been confirmed with the wonderful managers she’s had at Voya.

She appreciates the mentorship she receives more than most because much of her early career was spent as an hourly consultant. “My work was well respected and appreciated, but it was different than working for a corporation,” she says. “I didn’t have a clear career path or someone who was watching out to promote me.”

She says that her role models are “all the women who came before me on Wall Street.” When her son was recently accepted at the University of South Carolina, she suggested he research Darla Moore, after whom the business school is named. One of the original female Wall Street pioneers in the 1980s, Moore left South Carolina in her grandma’s car and took the whole industry by storm.

“Women like that blazed the trail and made Wall Street accessible to all women,” Cavanaugh says.

Anything Can Happen

The biggest career lesson that Cavanaugh learned came when she was laid off. “Even if you do everything right, even if you are a good employee, it can happen to you,” she says.

She feels fortunate that she had paved the way for her future success and credits earning her CFA designation as one of her wisest moves. Although she describes the program as “three years of hell,” — only about 20 percent of those who start ever finish – the designation adds an unprecedented layer of credibility as the gold standard in portfolio management. “I’m happy that I had the sense to do it as it has paid off over the years,” she says.

The CFA society provides a key networking niche for her, and she has been active as a president and board member. “It’s easy to get into your own silo and the CFA society provides excellent networking and educational opportunities.” She says she wishes more women would earn the designation since it’s a vital stepping stone to establishing credibility in the investment world.

Becoming Part of the Charleston Community

Since relocating to Charleston, Cavanaugh has mentored local women starting an investment club, helping them learn how to research companies, decipher P/E ratios and sharing her investment knowledge.

Cavanaugh seeks out anything related to the water – crabbing, fishing, boating and beaching. Her three teens keep her busy, and the whole family loves to travel. Most recently they went snorkeling in St. Thomas, and she has taken her daughters to Paris.

She loves living in Charleston and has a goal of trying a different restaurant every time she goes out. “l have become an aficionado of the best shrimp and grits,” she says.

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Voice of Experience: Joan M. Dillon, Senior Equity Analyst, Voya Investment Management

Joan M. Dillon“The only barrier to success in the financial industry is if you aren’t willing to work hard,” says Joan M. Dillon, an equity analyst at Voya Investment Management. “Hard work will always pay off, but the puzzling part is that you don’t know when it will pay off. It might not be at your current company or division, but it will happen eventually.”

Dillon has been a healthcare equity analyst for the past 24 years, 17 investing on the buy-side. It was a path she pursued partly based on an interesting college course on investing and portfolio management. A friend mentioned that Dillon was “really good at doing homework,” a skill honed through many hours logged in the library. “This concept resonated with me, and I decided that I should pursue a career in which you never stop learning; where focus and dedication matter; and where complicated projects are the norm – that’s a financial analyst,” Dillon says.

Prior to joining Voya, she was a senior analyst assigned to the health care and consumer staples sectors at Equinox Capital Management.She also served as health care analyst with Dreyfus Corporation, JPMorgan and CS First Boston.In the Wall Street Journal’sAll Star Analyst Survey for 1997, Dillon received the top award as “Best Stock Picker in Health Care Services”.

Her interest in the field is buoyed through the research she does on pharmaceutical and biotech companies, where she learns about new therapies in drug development, makes financial models on the earnings opportunity and calculates the stock’s potential value.She cites several new therapies targeting cancer and Alzheimer’s disease that are in late stage clinical trials and could be on the market helping patients over the next two to three years. “When people find out that you analyze health care companies, they often tell you about the medicines they take and ask you if there’s something new or better coming. So I can be pretty popular at a BBQ,” she says with a laugh.

Advice for Moving Up

Dillon knows the value of keeping your eyes open for opportunities, whether it’s asking your manager for more responsibility or a promotion, spending time working on a team you haven’t worked with before or raising your hand for new projects. She advocates settingprofessional goals every year and viewing your career in annual increments. Sometimes achieving the goal can mean you have to take a class after work or get an advanced degree, as she did, earning her MBA while working full time at an investment bank. Or, it might mean you have to join a new firm to work with different people and gain new experiences.

She also underscores the importance of taking the time to deliver your best work. No matter what the assignment, Dillon recommends over-preparing and practicing, especially when you are presenting to a group, and she always advises people to view their work with a critical eye. “Your work is you. Triple check it because it should always be the best it can be.”

That advice applies at every stage, but Dillon says that especially when you are new, you should be extra cognizant of the impression you are creating. “You’re the person who has a lot to learn so you should always be early to meetings – whether you’re walking in or dialing in. That shows interest, initiative and that you care,” she says. “And those are some traits that help lead to success…no matter what your level.”

By Cathie Ericson

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Mover and Shaker: Leonora Xhekaj, Vice President of Operational Risk Management, Voya Investment Management

Leonora XhekajLeonora Xhekaj remembers being asked by someone she admires: “What is more important to you, being liked or respected?” Although she said “both” at the time, over the years she has learned that everyone might not like you, but most will respect you when you establish credibility and act professionally with colleagues and others, regardless of their experience, association or job function.

This philosophy has helped lead to Xhekaj’s successful career ascension. She started at Paine Webber (which was subsequently acquired by UBS) as a client services associate in the institutional equity sales area, providing research to institutional clients. While there she developed a reputation as someone who was persistent and reliable – arriving at work at 5 a.m. if needed to get the job done.

In 2000 she joined Voya Investment Management, previously known as ING U.S. Investment Management, and, at the time, they were involved in a number of M&A consolidations. “I learned early in my career on the buy side that change is the one constant you can count on, and it is something I learned to adapt to and embrace.”

Xhekaj, who earned a B.B.A in management and finance from Baruch College, has held her current role in risk management since 2009. She supports the equity investment platform, structured assets and alternatives group and institutional distribution, as well as other business support areas, such as operations.

Over the years, she has held a variety of positions, including leading the business resilience program for Voya IM including managing crisis events such as Hurricane Irene and Hurricane Sandy. In the days leading up to each, Voya IM activated contingency plans that had been developed and tested, allowing the firm to continue business operations uninterrupted with remote capabilities for all staff with essential functions.

Xhekaj is most proud of her contributions over the years that have led to the development of the company’s effective risk management program that partners with the business to identify, analyze and mitigate risks. “I appreciate that I can contribute to teamwork that benefits the end client, and have opportunities to lead initiatives for the firm that involve collaboration with multiple business areas,” she says.

The operational risk function was relatively new when she assumed the position, offering her an opportunity to help create and establish a key function for the company. “It’s amazing to be in this position where I can offer foresight as we evaluate risks and that I can contribute to enhance programs or processes that add value.”

Working Girl

Even though family and friends warned her that Wall Street was a “man’s world,”Xhekaj learned much of her early career impressions from the movie Working Girl, where she remembers identifying with Melanie Griffith’s character and wanting to be one of those women who succeeded based on talent and skill.

She found breaking into the environment more challenging than expected, but she quickly recognized that becoming a subject matter expert would allow her to push through those barriers. “I was able to earn a seat at the table. I was accepted because I earned respect,” she says. “You can be your own worst enemy if you dwell on the fact that you’re often outnumbered. I decided I needed to think differently and the actions I took showed I belonged and could achieve success.”

Earlier in her career, Xhekaj hesitated to seek mentors and was less vocal about volunteering for stretch roles. But with senior sponsors advocating for her, she realized that they were seeing possibilities in her work that would lead to advancement. Her cadre of mentors ended up being an organic mix of men and women offering a diversity of age and specialty, from backgrounds in risk and investment functions to operations to technology. “I saw it as a major benefit that I could tap into all those resources, views and perspectives to gain as much information on different angles and functions as possible.”

Recipe for Success

From those diverse perspectives she has identified a number of colleagues who display qualities that she would consider important for a role model: humble, inspirational, insightful and credible. One manager in particular stands out for her ability to defuse and navigate through uncomfortable situations with grace and poise.

Over the years Xhekaj has amassed a list of values and principles that she believes provide a path to success: integrity; respect; valuing differences; a positive attitude; avoiding excuses; building relationships, engaging people; and appreciating differences in skill sets. She has also always admired those who don’t say ‘that’s not my problem,’ but contribute to meaningful discussions and provide recommendations instead; or those who are willing to roll up their sleeves to collaborate even if it’s not officially part of their role.

Advice for Balancing Work, Family and Outside Life

At a conference recently, one of the speakers mentioned how outsourcing helped her balance work and life, and Xhekaj realized she had not heard outsourcing used in this context before. She saw that outsourcing everything from housekeeping and other chores to child care can be achieved in a number of ways, such as asking family and friends for help and relying on your partner to contribute more if you both work.Xhekaj says her mom has been her biggest advocate and supporter of all aspects of her life.

Finding that balance has been essential, as Xhekaj is active with a number of groups that grow her professional skills outside of her job commitments. She has been involved with Voya’s New York Women’s Network, her town’s Professional Moms Network and also participates in informal networking and other leadership skill-building conferences and opportunities. Always eager to stay sharp in her field, Xhekaj is a member of a number of industry associations, such as the Security Industry Financial Marketing Association and the Global Association of Risk Professionals (GARP).

Married with two kids, her priority is to spend as much time as she can with daughters Leyla, age 10, and Hana, age 8. “Both inspire and motivate me to continue to contribute to our culture and community,” she says. She shares her passion for charity, helping with the March of Dimes and juvenile diabetes organizations, as well as other local charities in her town.

She also loves to travel, and together her family has explored different cultures from Germany and Switzerland to Kosovo, Antigua, Montreal and Quebec. Closer to home, the family regularly visits local monuments and historical sites, and as avid readers, they love nothing more than a Saturday in front of the fire at their local library.

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Voice Of Experience: Paula Smith, Senior Vice President, Head of DC and College Savings Investments at Voya Investment Management

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Paula SmithPaula Smith learned early on that while your career may take twists and turns, as hers has, there are fundamentals that will serve you well throughout. And for her, a key one is to cultivate relationships for the long term. “We are in a people business, whether we sit in product, distribution, finance or portfolio management. Networking doesn’t mean we have to spend hours going to lunch or drinks, but rather realizing that your contacts provide as much enrichment as any training, reports, seminars or meetings will.”

Smith’s first position was in human resources after a three-summer internship at Bank Julius Baer. While it wasn’t her intended starting point, it was one that proved serendipitous. She says now that her involvement with employee benefits, specifically the 401(k) program, allowed her to see first-hand how these plans worked, and the struggles for plan sponsors in getting people to join in the plan and invest the right way. Smith developed an instant liking to the details of retirement plans, specifically the importance of the investment options, how they were marketed and what they could do if used the right way.

That experience offered her insight into the importance of focusing on building skills. “It’s not about the individual job or role as much as the skills you can take away that can help you in your broader career.”This later included an MBA at Fordham University to help round out her business skills.

Soon after her stint at Julius Baer, Smith decided to move into the business side within financial services, and found a role developing and managing defined contribution/401(k) investment products and services at Sanford C. Bernstein, where she discovered her background with employee benefits was the ideal stepping stone.

From there, Smith has spent the last 20 plus years largely within product management for retirement and college savings plans at firms like J. & W. Seligman and Columbia Management – building businesses, teams and strategies, and trying to meet challenges as the financial services industry morphs over time.

“Though I didn’t have a very specific idea of where I wanted to be, I was lucky to identify a particular aspect of my first job that I loved and create a career out of it,” she said. “I still enjoy the ins and outs of retirement plans – investing, the changing rules and landscape and how, at the end of the day, helping people plan and save provides peace of mind and a positive future. This keeps things fresh and new.”

She says that she has tended toward roles where there is a building aspect, and that has provided a common thread of achievement over the course of her career. “I’m very proud of the growth of the various product lines I’ve worked on over the years. We move so quickly in our day-to-day lives, that it’s often hard to see what we’re trying to accomplish.” She says that an interesting emerging area is work they are doing with plan sponsors to help shape how they approach their DC plans.“Retirement is probably the single most important financial goal on anyone’s mind, and the work being done in our industry to help people prepare for that is so exciting.”

Lessons Learned Early

Smith had always assumed that if she worked hard, building a career would be easy, similar to how delivering on assignments in school earns you a high grade.

“But the truth is, while hard work is a very large part of it, very often it’s making sure people higher up know that you want to take on additional responsibilities,” she said, adding that it’s crucial for young women starting out to make sure that people know what they’re doing within the organization.

Early in her career she found that too often people make the mistake of silently getting the work done but rarely talking about it. “It was an important lesson, and I am cognizant of it to this day.”

Even so, she believes there is no substitute for putting in the time and effort and rolling up your sleeves to get things done, making sure that you have considered priorities to avoid devoting time and effort to activities that simply don’t matter that much in the end. “Always focus on what will help move the business forward or meet key goals.”

And, speaking of sleeves, those can have an impact on your career too. Smith advocates dressing for the job you want and not the one you have.While a bit cliché, someone offered that advice early on and it stuck.“As the culture becomes more casual, dressing well puts you in the right frame of mind and demonstrates your professionalism to others.”

Taking Smart Risks

In many cases, Smith has found that women tend to believe they have to be experts or have all the answers before they’re ready to take on a new challenge. But being thrown right into something where she didn’t necessarily have the background or expertise helped her throughout her career.

For example, when given the opportunity to launch what was a brand new product in the industry at the time – a 529 college savings program — there was no blueprint. Therefore it came with challenges, such as state involvement and unique product and regulatory requirements, which created some trepidation at first. “Sometimes it’s frightening, but in some ways, not having all the answers provides that continued learning that so many of us desperately crave,” Smith said.

Smith has found that these larger roles that involved new skills, such as leading a sales team, or being responsible for a very big budget, have provided some of the best learning moments of her career, as she found out that she enjoyed it and was successful at it.

Now, she says she would never wait for the expertise or having a large knowledge base before delving into new projects. “If you are open to learning and ask the right questions, and bring people to the table with their own knowledge, then taking on new challenge should be exciting rather than a cause for anxiety.”

In addition, success comes from being deliberate about letting people who are expert at a particular part of a project be that expert and lead the way. “When managing large business initiatives, you have to let other people play their critical role.”

Sponsors and Role Models Can Guide the Way

Smith says she has been fortunate to have had great sponsors throughout her career, both men and women. Interestingly, sometimes that sponsorship came from people who were otherwise viewed as difficult within the organization but nonetheless were helpful in shaping her path.

While she doesn’t have one specific professional role model, she has identified several who have offered ongoing career lessons – those who have a career trajectory she’d like to emulate, those who present with effectiveness, those who have a positive way of effecting change, and others who have been a touchstone in balancing her personal and professional life.

She advocates looking around deliberately to decide who has the traits and skills you would most like to have rather than choosing one person as a role model.

Family Travel

Right now, Smith says her time is divided between career and family. With a husband who is a stay-at-home dad to their two daughters, ages six and three, Smith knows it’s important for her to spend her time at home really focusing on them to recharge.

The family enjoys traveling together. “Having various trips planned throughout the year, even if it’s just for a weekend, or even not too far away, gives me something to focus on and to have my children focus on as time we’ll spend together. This goes a long way for all of us.”

By Cathie Ericson

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Voice of Experience: Frances Janis, Senior Partner, Pomona Capital (the private equity arm of Voya Investment Management)

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Frances Janis“Make sure you take control of your career and assert yourself, and you will be rewarded,” says Frances Janis. “You will have a successful career if you seek out opportunities that fit your strengths and then perform to the best of your ability.”

Janis knows that this path will pay off: her career in the venture capital industry has been the result of seizing new opportunities and taking calculated risks along the way.

She was first introduced to the field when she filled a six-month gap between university and graduate school as a receptionist at a venture capital firm. It just happened to be one of the most prolific VC firms at the time, one that had backed Apple and Genentech, and Janis recognized her good fortune to be working with great people doing exciting things. She sought employment at the firm after completing business school, and while there were no current opportunities there, one partner who had left to start his own firm hired her. She worked for him for 11 years and continues the relationship today — he remains her mentor and is on the board of a fund for which she is the portfolio manager.

Her next move was to join her current partner at Pomona Capital, who was launching a new concept at the time — buying out the interest in funds from investors who needed liquidity. “It was a mad cap idea, but he was very convincing and he really had foresight in a market that was not yet evolved,” she says. “It’s been an amazing ride. Neither of us could have dreamed it would become as big of a business as it has,” says Janis. The 21-year partnership has spawned a business that manages $8 billion and has 45 employees in three global locations.

For Janis, building the business is the achievement she’s most proud of. These days, her main functions are in an upper management capacity, rather than making investments. She recently was intricately involved in overseeing the development of a recently launched retail product, which will be distributed by Voya. It will create an entirely new market for Pomona Capital, since all its previous products have been institutional.

“I love being involved in strategizing how to make sure that the business is moving forward on lots of different fronts. The industry has changed and evolved so much, and we are constantly faced with exciting new challenges.”

Finding the Right Talent and Right Fit: A Two-Way Street

For Janis, one of those recurring challenges is managing the people side of the business. As a small firm, it’s critical that new hires fit in to the collegial culture since each person affects the dynamic. The interview process typically includes having the potential candidate meet with a cross section of employees to check that personality fit. “From senior-level employees down to junior, it can be hard to get it right,” she says.

Once selected, her firm aims to keep associates engaged so Pomona is constantly considering how to offer new experiences. For example, just recently a younger associate who valued international experience spent time in the firm’s London and Hong Kong offices; another will go to Hong Kong in September.

Much of a candidate’s future success has to do with how they respond to the smaller, less-structured environment. Janis recommends that all professionals realize that bosses prefer employees who are self-starters and ask how they can help, rather than sitting and waiting to be tapped on the shoulder.

Janis stresses that long-term career satisfaction comes from finding something you love to do. She knew from her first position that she loved private equity – being around smart people and the excitement of hearing about new businesses and strategizing on their behalf. She also says that she knew a big bank wouldn’t be a good fit for her; for her part, she preferred the smaller environment, where she was spending a lot of time with people who become like family.

“You have to understand what the right environment is for you: Are you a self-starter? Do you need hands-on management? You have to be an active manager of your own career, and while you shouldn’t be impatient and jump before you fully understand the opportunities a certain position might offer, you shouldn’t stay at something too long if it’s not fulfilling your needs.”

Success in a Man’s World

Janis notes that the financial industry is still predominantly male – and that much of the networking happens on golf outings and during other sports-oriented events.

“While that remains a barrier and it does not always provide the most comfortable networking environment for women, that doesn’t mean one can’t have a successful career in the financial services industry; you just have to accept that these venues exist.”

She says that there are many successful women in the industry – she points to her firm which has two female partners and women heading up finance and marketing, but notes they are not always as vocal about their achievements. “These women both have roles of significant responsibility, and you usually don’t hear about them. Women tend to be more low key and modest and don’t get as much recognition as men choose to take.”

As the mom of two boys, ages eight and 13, her home life can be a “man’s world,” as well. She loves nothing more than having breakfast with her sons, and spending as much time with them as she can. “I leave work and turn into a mom,” she says.

And lastly, in addition to Janis’s role as a Senior Partner of Pomona, she serves on the board of trustees of her alma mater, Northeastern University.

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