Mentors: An Essential Component of Your Career

June 2020

Distribution 4,964

By Julie Andress

KeyBanc Capital Markets

STA WIF Co-Chair

Shortly after we published May’s Women in Finance newsletter, a male co-worker reached out to me to discuss the article. He stated, “I’m not a woman in finance, but this newsletter email came across my desk.” While we did discuss the topic of the newsletter, I was struck by his initial comment and immediately went into education mode.

I explained that STA Women in Finance (STA WIF) is not inclusive of women only; our group is made great not only by exceptional women, but also those who support them, men and woman alike. Our discussion then led to the annual Ken Heath Award. This month we would typically be reflecting on the Ken Health Award recipients. The Ken Heath Award, founded by family members of longtime Traders Magazine publisher Ken Heath and the STA WIF Committee, honors those men who have made a notable and genuine contribution to the advancement of women in finance. Many of the past recipients are considered by those who nominated them to be mentors. M y male co-worker understands the importance of mentorship and how critical having a good mentor can be to a person’s career, but why recognize men ? It's because STA WIF believes that a successful diversity strategy is a culture shift within the entire organization, and corporations that engage men in their gender diversity strategies achieve more meaningful results than those that do not.

We are told early on in our careers to seek out mentors, and then as we advance in our careers to give back by mentoring others. Our mentors are not limited to females, and we are not limited to one mentor. It is a progression, and it doesn’t have to be formal.

Mentorship is essential to women professionals in financial services. We are told early on in our careers to seek out mentors, and then as we advance in our careers to give back by mentoring others. Our mentors are not limited to females, and we are not limited to one mentor. It is a progression, and it doesn’t have to be formal. Throughout our lives, mentors might be teachers, industry leaders, people we meet in passing but admire, friends with different experiences. Two of my mentors through work have since retired, but always remain available for discussion and feedback. These relationships are so critical to our individual success, as they allow us to see ourselves, and our careers, in the eyes of others.

STA recently announced its slate of 2020 STA Foundation Awards , which includes the Ken Heath Award. STA WIF was unable to host its annual Ken Heath Awards ceremony last month due to the events surrounding COVID-19. The Ken Heath Award, as well as a newly created STA Women in Finance Mentor of the Year Award, will be presented at the STA Market Structure Conference this October in Washington DC. A counterpart to the Ken Heath Award, this new Mentor of the Year Award will recognize one woman within our industry who exemplifies the true meaning of mentor.

I encourage everyone to think about their mentors, male and female, past and present, and consider a nomination. It is a small token of gratitude to recognize those who have given so much to others.

“A mentor is someone who allows you to see the hope inside yourself.” – Oprah Winfrey

Articles of Interest

Why Are So Few Women in Finance? It's Complicated

Investopedia

Studies conducted by the Harvard Business School paint a tough picture for women: among senior roles in venture capital and private equity, women held just 9% and 6% of the positions, respectively. Hedge funds bring that number to lower depths: women occupied only 11% of senior management roles.

here

Allyship in the Workplace: What Promoting Racial Equity and Inclusivity Really Requires

Thrive Global

“The problem of racism in the workplace is institutionalized,” she says. “It’s a reflection of our larger society: unequal opportunities, unequal access to promotions, and unequal access to jobs.”

here

Six Reasons Why Talent Development is More Important Than Ever

Ellevate

Much of what we know about doing business is off the table for the time being, it seems, except that more than ever, business needs to carry on so that we aren’t faced with a global recession worse than we faced in 2009, from which we’re still recovering today. But how, in the midst of an international pandemic, can businesses forge ahead?

here

Three Women on Why Investment Industry Needs to Evolve

Yahoo Finance

Investment decisions must move beyond traditional thinking. With many firms already recognising a link between diversity and better investor outcomes, resources for attracting and promoting women were in high demand before Covid-19. But, like so many other existing trajectories, the pandemic has super-charged the need for investment management to evolve.

here