How Women Leadership in Finance is Transforming the Industry

Thursday, September 4, 2024

How do women leaders in finance navigate the challenges of balancing work and family life?

This is an area that is particularly challenging for women who are often the caretakers for their families. Dedicating sufficient time to both work and family life can feel overwhelming at times. You have to know where the line is for yourself personally and be sure you adhere to that to maintain your mental health and wellbeing. You must create your own balance and make sure you communicate where that line is so that others know. It's also important that there is flexibility in both areas because there could be busy times at work and busy times in your family life so there is a give and take depending what is going on at the time. Some women leaders in finance find it helpful to set boundaries and prioritize tasks to manage their time effectively. This may involve delegating responsibilities at work and at home, as well as seeking support from their partners, family, or professional networks. Additionally, leveraging technology and remote work options can provide more flexibility and enable women to fulfill their professional and personal obligations. It is important for women leaders in finance to advocate for themselves and their needs, and to seek out organizations and employers that prioritize work-life balance and support their employees in achieving it. By being proactive and intentional in their approach, women leaders in finance can navigate the challenges of balancing work and family life while also excelling in their careers.

What are some potential solutions for addressing the systemic barriers to women leadership in finance?

The most important thing is to make sure the company culture makes women feel valued and gives them the flexibility to feel like they can dedicate sufficient time for their family without consequences to their career. There also must be a bias free environment to give women the chance to grow and realize their true potential without fear of thinking they couldn't do the job as well as their male counterparts. This could involve implementing unconscious bias training for all employees, creating mentorship programs specifically for women, and actively promoting and hiring women into leadership roles. Additionally, implementing family-friendly policies such as flexible work hours, paid parental leave, and on-site childcare can help support women in balancing their professional and personal responsibilities. It is also crucial to establish clear and transparent criteria for advancement and promotion, and to hold leadership accountable for promoting diversity and inclusion within the organization. Ultimately, addressing systemic barriers to women's leadership in finance requires a combination of cultural, structural, and policy changes to create a more equitable and inclusive environment.

Can you discuss the role of mentorship and sponsorship in finance leadership?

Mentorship can play an incredible role in shaping our finance leaders. Navigating certain roles and responsibilities for the first time can be challenging and those who have been through it before can offer extremely valuable insights and advice that can help guide the development of future leaders. Mentors can provide support, share their experiences, and offer guidance on how to navigate the complexities of the finance industry. Sponsorship, on the other hand, is crucial for creating opportunities for aspiring finance leaders. Sponsors use their influence and networks to advocate for their protégés, opening doors for them and providing them with visibility within the organization. This can be especially beneficial for underrepresented groups in finance, as sponsorship can help to break down barriers and create a more diverse and inclusive leadership pipeline. Overall, mentorship and sponsorship are essential components of developing strong finance leaders. They provide support, guidance, and opportunities for growth, ultimately shaping the next generation of successful finance professionals.

Can you share insights on the role of networking and professional development in advancing in finance leadership?

Networking is crucial in advancing finance leadership. Connecting with other colleagues to build those relationships can break down barriers, help you gain valuable insights and information that otherwise wouldn't have been known without those connections. Professional development is also essential for finance leadership. Continuous learning and skill development are necessary to stay competitive in the finance industry. This can be achieved through attending workshops, obtaining certifications, or pursuing higher education. Additionally, professional development can help finance leaders stay updated on industry trends and best practices, ultimately enhancing their ability to make informed decisions and lead their teams effectively. Overall, networking and professional development go hand in hand in advancing in finance leadership, as they both contribute to expanding one's knowledge, skills, and opportunities within the finance industry.

What are some best practices for creating a more inclusive and diverse finance organization?

The most important thing is to recognize our internal biases and not to let them influence our decision making. This involves actively seeking out diverse perspectives and experiences, and creating a culture that values and promotes inclusivity. It's also important to provide equal opportunities for career advancement and professional development for all employees, regardless of their background. Implementing diversity and inclusion training programs can also help foster a more inclusive environment. Additionally, establishing mentorship and support programs for underrepresented groups can help to ensure that all employees feel valued and supported within the organization.

What's your favorite success story in your career at Mondelēz?

My favorite success story was helping to create a brand new direct to consumer company in order for Mondelēz to sell customized Oreos and Sour Patch Kids to consumers through its website. It involved learning and launching a brand new accounting system, designing and documenting the chart of accounts, accounting flows and standard operating procedures from scratch. I had to work with a cross functional team to overcome immense challenges in order to launch the new company in a very short time frame. It was one of the biggest challenges of my career but also the most rewarding being able to see what could be accomplished through perseverance, dedication and teamwork.