today's financial women spring 2010

About TFW – Today’s Financial Women

In This Issue – TFW will bring attention to the importance of creating a career blueprint to help you reach your career success. As our world continues to change so does our impression of the perfect career model - these changes may require a remodel or an overhaul. Gain insights from our contributors on creating your blueprint.

Melissa CurzonPublisher of TFW and President, Triumph Solutions, Inc.

TFW Staff:Editor in Chief – Melissa CurzonExecutive Editor – Nancy EverittEditor at Large – Ann KvaalEditor – Cindy HaasDeputy Editor – Annie LyonCreative Director – Bryan BollingerContributing Design Director – Geoff CurzonContributing Writer – Becky Nelson

Contact Us: phone 949.837.9154 • fax [email protected] Subscriptions: www.shop.tritfw.com Triumph Solutions, Inc., Mission Viejo, CA

Postmaster changes to: [email protected]

Spring 2010: Vol 4 No 2, ©2010 Triumph Solutions Inc. All Rights Reserved.

Contents may not be reproduced in whole or in part. Editorial content does not necessarily reflect the views of Triumph Solutions Inc. or its officers, agents and employees. Today’s Financial Women (ISSN 1935-7842) is published four times a year by Triumph Solutions Inc., 23031 Cecelia, Mission Viejo, CA 92691

Table of Contents

4 | The BlueprintDiane Reyes, a women who makes changes happen at Citigroup makes the case for having a well-defined career blueprint and the ability to execute.

6 | Are You Recession Proof? Learn from Dr. Lois Frankel how to get and keep the job you want.

8 | A Path of Your Own Knowing what you want from your career, and knowing how to get it, are different endeavors. Three women create and achieve their own definitions of success.

10 | Working Your Core Working your core may sound like a sweaty work out but for human resource expert Patrice McGuire there is a very different definition.

12 | Gear to Get: The 10 Essentials Find new favorite gadgets and goodies for the office and at home.

14 | Up is Not the Only WayExecutive coach Regina Barr asks “Feeling like your career has suddenly stalled, or worse, gone backwards?” and answers with ideas to increase your employability.

TFWTM

Today’s Financial Women

By Becky Nelson

An interview with Diane Reyes Managing Director/Global Payments Head Global Transaction Services, Citigroup New York Diane Reyes stood in Dubai International Airport and felt a tap on her shoulder. It was a potential client she had met previously in Kuwait. She recognized him, even without the traditional white robe men wear in the Persian Gulf – a moment that helped to earn his trust and his business. The anecdote from U.S. Banker demonstrates why Diane has been named one of the magazine’s 25 Most Powerful Women in Banking in 2008 and 2009. She not only runs a profitable international business unit, overseeing the development of cross-border products and services, but also creates change for women at Citigroup as a chairwoman of the Developing

Talent Program. In an interview with TFW, she makes the case for having a well-defined career blueprint and the ability to execute. Self-starting: Reyes had a degree in sociology and experience in the computer industry when she decided to earn a master’s in business from the University of Pittsburgh. MBA in hand, she focused her job search on financial institutions. Mellon Bank was among the best in the market and a pioneer in cash management. Landing a product analyst job there proved to be an ideal training ground. Varied experience: While staying within her niche in the cash management field, Reyes sought different roles that gave her exposure to new areas. She’s spent about half of her career in jobs that required direct client contact and the other half in roles with a product focus and profit/loss responsibilities. But she also held a job in operations. “It helps you interact and collaborate better with partners in different disciplines so

| TFW Magazine | Spring 2010 www.tritfw.com

Citigroup, Reyes oversees a process that places high-potential women in visible projects outside their primary work area. Thirty to forty women per year are selected from a pool of applicants to work on projects for six months. They meet after hours and on weekends, getting skills training they wouldn’t get day-to-day. Last year, these women collectively saved the company $7 million. “It’s not just about developing women – it’s about developing women to contribute economically to the company,” she said. Get out there: Apply for other jobs, even if you don’t think you’re fully qualified, Reyes recommends. “While interviewing is hard work – you have to prepare – it has substantial payoffs because you expand your network in the firm and you may get the next job.” At the same time, keep in touch with mentors. Don’t let the contact end when a program wraps up. Unwinding: A renewed focus on exercise has helped Reyes to put frustrations in perspective. Sometimes, after a hectic round of travel, meetings and activities, a family movie night helps reduce stress. Inspiration: At a biannual conference for The Women’s Council, Reyes found compelling words of Harvard Business School professor and author Rosabeth Moss Kanter. Reyes’ favorite Kanter quote from the event: “If somebody doesn’t like your ideas, chances are you’re on to something.” Reyes’ focus on personal relationships and her “no excuses” approach to delivering measurable results have formed the blueprint for her rise to the top. “Each and every day I try to come in and make sure I’ve contributed in a meaningful way to client needs,” she said. “That’s what keeps me focused and engaged and where I get renewed energy and passion.”

More About Diane Reyes

Recently read: SuperCorp by Rosabeth Moss Kanter

Best sources of info: In addition to newspapers, TV and the Internet, I rely on a network of people who push business-related information to me.

Can’t live without: BlackBerry and Starbucks Cinnamon Dolce Lattes.

Becky Nelson is a freelance writer based in Madison, Wisconsin.

you can appreciate if something takes longer to get executed,” she said of her various jobs. Making it work: “If I came up against some kind of roadblock, I found ways around it,” Reyes said. “I have four children, and sometimes assignments aren’t always convenient when you have young ones and have to travel. You have to have solid support, and I worked on that. Or, if I found a job wasn’t challenging, I reached out and tried to seek opportunities.” Do more than asked: Reyes says that many of her roles have been “stretch assignments” for her, but she was able to rise to the occasion and contribute to the bottom line of the company. Women have to be willing to volunteer for other projects and roles, as helping someone else succeed is a surefire way to be remembered. “Some of the more junior women I see don’t volunteer to do anything beyond what their 9-to-5 roles are. To be successful, that has to be part of one’s plan,” she said. Crucial skills: Once goals are in place, the ability to execute strategies and achieve those goals is critical. “I can’t remember a year in which I didn’t make my plan, whether it was a financial plan, a marketing plan or a product plan,” Reyes says. Another key skill is communication. That means keeping management informed of issues – “people like bad news early” – and making sure team members understand the overall mission and what their individual contributions are. ‘Faking it’: Not everything comes second nature to everyone, and for Reyes, innovation isn’t her strongest suit. “I’ve had to work hard on that because in this business, it is important to stay ahead of the curve,” she said. “First, I try to surround myself with people I perceive to be innovative. Second, I try to stay involved with projects that go in a direction our department hasn’t gone in before. I force myself to stay informed. Sometimes I learn from my children – they’re very good on the technology front.”

Championing women: As co-chair of the Development Talent Program, a committee of The Women’s Council at

www.tritfw.com TFW Magazine | Spring 2010 |

by Lois P. Frankel, Ph.D.

Chances are you or someone you know is worried about staying employed or finding a job. With the national unemployment rate hovering around 10%, we all need to be concerned about how to keep the jobs we have or, when conducting a job search, land the right job relatively quickly. Over three decades in human resources I have learned that the most successful people share one critical characteristic: they’re prepared. This means they think ahead, do their homework, and show up for meetings or interviews ready to discuss the issues with confidence. The competition is stiff but you can distinguish yourself from others by religiously following these tips: Getting the Job you Want ...

1. Remember that it’s a numbers game. In a good economy there’s something called the Rule of 21: for every 21 resumes you send out, you’ll get one response. In this economy, it takes even more effort so you can’t get discouraged after applying for just a few jobs.

2. Never send a generic broadcast letter. Even when applying to a blind ad, tailor your cover letter and resume to the job for which you’re applying. It takes just a few more minutes and is the kind of thing that differentiates you from most other candidates – and employers do notice subtle differences. Also, keep a spreadsheet of where you’ve applied and the status so you don’t have to ask someone who calls you “which job was this for?”

3. Your cover letter and resume must be flawless. No typos, grammatical mistakes or errors in format are acceptable in this climate. Given two apparently equal candidates, the employer will go for the one who took the time to ensure her documentation was perfect.

4. Always have an objective on the resume and keep the rest focused on key accomplishments related to the job at hand. Don’t make the reviewer guess what job you want or how your background complements the job requirements. Make it easy to see a direct correlation between your experience and the employer’s needs.

5. Be prepared. 40% of your credibility comes from how you sound. You know you’re going to be asked certain questions such as strengths and weaknesses, so be prepared to answer them succinctly and confidently. Next, learn something about the company before the interview so that you can demonstrate you went the extra mile. If you can’t find information on the Internet, go to their offices and ask the receptionist for brochures, annual reports, or other information they use with clients.

6. Be likeable. You’re not only being assessed for the ability to do the job, you’re being assessed for how well you’ll fit into the company culture. The easiest way to boost your likeability is to relax, smile, look people in the eye, and show an interest in others and the company.

7. Ask for the job. If, after being interviewed, you believe you’re a good fit and it’s the kind of place you’d like to be employed, say so. Saying something like, “After speaking with you I’m even more certain I can add value to the company and would like the opportunity to prove it. I’ll look forward to hearing from you.” This demonstrates confidence and a positive outlook. Keeping the Job you Want ...

1. Manage up (not to be confused with kissing up). Observe and listen carefully to your boss and other executives with whom you frequently interact to learn their goals and hot buttons. Tie your objectives to theirs and avoid the hot spots. Bosses are only human and if you help them achieve their goals you’ll be viewed as a valuable resource.

2. Remember that doing your job – and doing it well – isn’t enough. That’s just table stakes. Constantly seek ways to add value by streamlining processes, improving customer service, or enhancing the bottom-line in other ways.

3. Avoid high maintenance behaviors. High maintenance employees are those who are always complaining, require too much supervision, or lack initiative. If you have a valuable skill, you might get away with it in a good economy but not this one.

Are you recession-proof?


4. Showcase your achievements. This is not the time to be modest. Find subtle ways to report on the ways you’ve added value to your team or firm.

5. Build strong 360 degree relationships. As many people now know, when you need a relationship it’s too late to build it. A portion of every week should be spent getting to know new people and letting them get to know you on both a personal and professional basis. Ask yourself if you would pass the “beer test”: someone others would want to go out with for a beer, glass of wine or cup of coffee.

6. Solicit and respond to feedback. Ask your HR department to help you collect feedback so that you can see yourself as others see you. If this kind of feedback isn’t common in your place of employment, then read between the lines of your performance review. Bosses often understate development areas that need attention. Don’t provide the ammunition others might use to shoot you down.

7. Be upbeat and positive without being a Pollyanna. No one likes working with Chicken Little. Surround yourself with positive people, and engage in other similar behaviors that will enable you to maintain a healthy degree of optimism.

Lois P. Frankel, Ph.D. is an international bestselling author, media personality, public speaker and a pioneer in business coaching. Follow Lois at www.thethinpinkline.com. Contact Lois at www.drloisfrankel.com or 626.405.7310.


by Melissa Curzon

Knowing what you want from your career and knowing how to get it, are two entirely different endeavors. TFW interviewed three women who did both. Each continually revisited and revised her plan to get to the next level. Sometimes that meant getting more education; other times it meant making compromises. Each decision required a review of priorities and a re-evaluation of the end goal. Here they share their experiences from a place at the top, with much still left to accomplish.

Jackie JohnsonExecutive Vice PresidentCommunity Savings Bank, Edgewood, Iowa

When did you know what you wanted in your career? I was comfortable the day that I started in banking, but about 10 years into my career I knew it was what I wanted to be doing for as long as I could. I was an assistant cashier then.

Did you create a blueprint for where you wanted to be? No. Back in the ’70s, banking was a predominately male industry. I am pleased to say I was the first woman officer in our bank.

When did you first know you were on the way to making it? In the late ’80s, we purchased a bank and I was involved in

merging the computer and bookkeeping systems. I loved it. I felt like it was a great achievement to help purchase a bank and make it better than it was.

What was your greatest resource in progressing in your career? I belonged to Financial Women International. That group of bank women became my friends and my true peer group. We supported each other as we were growing in our positions and raising our families. [Her two children are now adults.] Was your end result completely intentional? I’m celebrating 40 years in banking and I want to continue working in this industry for a long time. But every day when I walk into my office, there is such change in the banking environment that I don’t know where the next 5 to 10 years will lead us.

What is one piece of advice you would give to others? Align yourself with other women (or men) that are in the same positions in other companies and develop relationships and peer groups so that you have people you can ask for help. You need connections. I find that a lot of people who want to be managers today are not willing to leave their families or their homes to grow their careers. It will hold them back.

Lisa P. YoungPartner, Assurance & Advisory Business Services Ernst & Young LLP, Philadelphia

Did you create a blueprint for where you wanted to be? Some things happen


because you’re in the right place at the right time, and other things happen because you take steps and plan things out. My career has been a little bit of both. I knew I wanted to work with global companies. As a young manager, I was fortunate to spend a year in a global exchange program in Montreal, Canada. Then I went back to Dallas, Texas, for several more years. When I was promoted to partner, I moved to New York and worked in our Global Capital Markets Group. I traveled and worked in 11 different countries for a couple of years. After that I became the partner in charge of recruiting for Ernst & Young in the Americas. I did that role for nearly five years, and then I returned to serving clients in Philadelphia. I’ve done everything I wanted to do with a single organization – this is my 25th year with Ernst & Young.

What stumbling blocks did you encounter? I had more successes than failures. But you don’t really learn without stubbing your toe along the way. You make different decisions depending on what is best for you and your family and personal circumstances at the time.

What was your greatest resource in progressing in your career? The advice of mentors has been a resource. I would encourage everyone to have people that they can use as a sounding board as well as to give them critical feedback. It’s also important to have your priorities in order. I love spending time helping at my daughter’s elementary school and giving back by serving on community boards. It’s very helpful to work for a company that really embraces that.

What is one piece of advice you would give to others? I always tell people to not forget where you’ve come from and make sure that you’re developing people around you. While you may have one hand reaching up to your next opportunity, make sure you’re reaching one hand down as well to bring people along behind you.

Noreen DavisSystem Vice PresidentSt. Luke’s Health System, Boise, Idaho

When did you know what you wanted in your career? I had known all my life that I wanted to be a nurse. I was about two years into my nursing career when I knew I wanted to make a difference in the lives of people who had chosen health care careers and make an environment that was easy for them to work in.

Did you create a blueprint for your career? I started a journey

that led me to where I wanted to be – not a blueprint that led me from Point A to Point B. I began as a frontline nursing leader, then went back to school and finally became a director of nursing at a healthcare facility. After spending about nine years at that facility, I took another position that brought me to the next level of leadership.

What stumbling blocks did you encounter? I was really fortunate. My husband and I have two children (now adults). When I decided to go back to school, I continued to work full time and with the support of my family I finished a baccalaureate degree and two master’s degrees. My mother-in-law almost became a second mother to our children, caring for them in our home.

What is one piece of advice you would give to others? Always look at what you want to do so that you enjoy what you’re doing. In order to feel satisfied, you have to have a passion for your job. Second, look for where you can get help and support. Women often get caught in a situation where they feel they have to give 150% at work and 150% at home. When women are not as successful as they could be, it may be because the work-life balance isn’t there for them – not because they don’t have the skills and abilities.

What was the catalyst in obtaining an MBA? I was working as a nursing executive at an organization where the CFO had a much better understanding of nursing and patient care than I had of finance, so I decided that I wanted to be on par with him.

Melissa Curzon is the publisher of TFW and owner of Triumph Solutions, Inc. a business management firm based in Mission Viejo, California.

We’ve come a long way...Pulling rocks out of farm fields – Noreen Davis Corn detassler during harvesting season – Patrice McGuire Order taker at fast-food restaurant – Lisa Young Soldering plugs on an assembly plant – Jackie Johnson Tutor for neighborhood kids – Regina Barr Smorgie girl at a Swedish Smorgasbord – Melissa Curzon Clerk at family dry cleaners – Lois Frankel Seedling sorter at a Christmas tree farm – Becky Nelson Administrative assistant – Annie Lyon Clerk/cashier at a local drug store – Ann Kvaal Car hop at a drive-in – Cindy Haas Restaurant hostess – Diane Reyes


by Regina Barr

How are you faring in the new career economy? Feeling like your career has suddenly stalled, or worse, gone backwards? You are not alone. Downsizing and doing more with less at a time when training and professional development budgets have been slashed, is enough to wreak havoc with anyone’s career plans, right? Not so fast. When I first entered the workforce, the path for moving forward and advancing my career was steep and hierarchical. In some ways, it reminded me of the steps required to ascend the temples in Chichen Itza, Mexico. If you have ever climbed the pyramid at Chichen Itza, you know that it’s not too bad at the lower levels, but gets more challenging the higher you go. And as you might expect, it was pretty lonely at the top. Today, the organizational realm in which we work has been dramatically altered. Organizations are flatter, with fewer middle management positions. Those that do hold those positions now have broader spans of control with more responsibility. Downsizing or “rightsizing” has become an accepted business practice in most companies. We have come to know that we all have limited – if any – job security. What exactly does all this mean? You can no longer count on anyone but yourself when it comes to mapping out a career path. The days of a steady climb to the top are all but gone. However, for those who are willing to re-evaluate, take initiative, and make some changes, now is a great opportunity to advance your career. Here are some ways to ensure that your employability goes up even as organizations flatten out. Develop a “Me, Inc.” attitude. Identify your key assets and liabilities. Create a plan to leverage your assets and offset

your liabilities. Involve your manager if appropriate. But remember, you are responsible for your own career success. It’s up to you to take the actions that will enhance your employability and shore up any deficits. Invest in your work portfolio. Become a learning addict. Develop a wide range of experiences and desirable skills. Do this internally by taking on new projects at your company or externally through volunteer work. Embrace lifelong development and continuous learning by taking advantage of degreed programs, industry seminars, higher education and company training programs. Be a change agent. Get comfortable with handling ongoing change. This means not only embracing change but also seeking it out in the form of new and challenging work experiences. Combine this with strong execution and your career will be on the fast track. Be willing to move around. Move around willingly and proactively. That means up, down, and sideways within your company, and outside of your company when necessary. In addition, be willing to handle ‘thankless’ jobs, those that no one else wants to do. The goal? Gain new skills and garner favorable visibility within your company. Focus on results. Downsizing and de-layering have reduced promotion prospects. With an emphasis on team work, people should be oriented to getting results rather than just climbing the corporate ladder. Take on P&L responsibility for a product line or department whenever possible. There are still plenty of opportunities for those that want to move ahead in the work world and ascend the corporate


ladder. It may require that you change your perspective and develop a new vocabulary. The key is to recognize that in the new career economy we are all free agents. This means that the new job security resides in you, not your position or your company. Follow these helpful tips and you can expect new avenues to open up for you. And remember, in the new world of work, up is NOT the only way!

Regina Barr is a leadership development consultant, executive coach, speaker and writer.

Follow Regina at www.twitter.com/reginabarr or connect with her at www.linkedin.com/in/reginabarr. Contact Regina at [email protected] or at 651-453-1007. Women at the Top is a trademark of Red Ladder, Inc. All rights reserved.


“Working your core” may sound like a workout for building a strong body, but it can also refer to building a strong foundation for a successful career. “In years past, people had a sense of career security. They believed they were invincible and would always have their great job, great employer and great benefits package,” said Patrice McGuire, senior consultant with Michael Quinlan, Inc. and a faculty member at the Graduate School of Banking at the University of Wisconsin-Madison. This sense of career comfort among white-collar workers meant they did not pursue an advanced education, professional distinctions, or involvement with professional associations.

In an economy of high unemployment and few job prospects, that has changed. Employers have the advantage: they can select from the strongest pool of candidates and refine their selection process to include criteria such as level of education, GPA and degree focus. As they narrow the criteria, less qualified candidates will be

squeezed out. Professionals may even find themselves competing for the jobs they already have, in a sense. “When you’re competing for a job with 400 other people, what do you have that makes you stand out from the other 399 candidates? What makes you a player in the job market?” McGuire asks. Flexing your mental muscles and building your career core is not unlike training for an athletic event: sometimes you’ll hit a plateau and have to step up the routine to reach the next level. Even if you’re not looking for a new job right now, don’t delay in preparing for job opportunities once the economy rebounds, McGuire said. You can work your core – the unique strengths and abilities that bring value to you and your company – by getting yourself out of your comfort zone and taking on a new role. Becoming a member of a trade or professional association is

by Melissa Curzon


Through the Herbert V. Prochnow Educational Foundation, a supporting organization to the Graduate

School of Banking at the University of Wisconsin – Madison, GSB offers two new at-large scholarships.

These new scholarships are in addition to the scholarships

already offered through the Prochnow Foundation—which

provides nearly one quarter million dollars every year to

current and emerging leaders.

Learn more about GSB scholarships by visiting gsb.org.

More than $225,000 in Scholarships Available Annually

Educating Professionals, Creating Leaders

Patrice McGuireSenior Consultant,

Michael Quinlan Inc.

one way an individual can create a stronger presence within his or her workplace and industry, she said.

Another option is pursuing a professional designation, license, certification or diploma and can also be a highly beneficial learning experience and career booster. Be sure to enroll in an accredited, well-respected program.

At the same time, keep networking and expanding your knowledge base.

Connect with peer groups outside the walls of your company to get a broader perspective of your industry or field. Last but not least, consider a formal education program to remain competitive and prepared for future career growth. In her many years of counseling employees, working with employers and teaching, McGuire has found that “employees who do not have an educational background seem to have a gray cloud hovering over their heads, regardless of whether they have the knowledge, skills and abilities. A lack of education can get in the way of one’s career growth.” But, she said, there are caveats: make sure the degree program has a direct correlation and relevance to your work. Be clear on what the outcome and reward will be, and make sure that the timing and expense align with your current lifestyle. Taking time off from the working world to pursue a degree can be risky, so try to find a way to continue to work while attending school.

More options are available than ever before to earn an undergraduate or a graduate degree, including:

• Blended learning - This approach combines traditional classroom-based learning with online education, giving students face-to-face interaction as well as the convenience of attending classes less frequently.

• Distance programs - Online degree programs are becoming more mainstream and accepted. Courses are sometimes structured, other times self-paced.

• Accelerated degree programs - Students still take classes on campus, but the programs are designed specifically for working adults, often providing work-life experience credits.

• Community colleges - Adults with undergraduate and even advanced degrees are training for new careers in non-degree continuing education programs, according to the New York Times. For those without a degree, a community college can be a lower-cost way to earn general credits that can later be transferred to a four-year college.

Above all, McGuire said, recognize that it’s not your employer’s obligation to identify and create opportunities for you. Get yourself in training for the career you’ve always wanted and enjoy a renewed sense of job health and longevity.

Melissa Curzon provides management services for the highly successful as the president and CEO of Triumph Solutions Inc. and the publisher of TFW. Follow TFW at www.twitter.com/tfwmagazine or contact her at [email protected].


Continue to share, mentor and join

associations that support women. Together, our

everyday efforts will carry on the FWI tradition.XH A N D

E tenda

Develop emerging talent, create a more inclusive workplace,

and shape future leadership. By staying connected, women like you are

changing the way we work.

Financial Women international congratulates Regina Barr, CEO

of Red Ladder, Inc., on establishing the Women at the Top™ Network. This

new networking community helps motivated women achieve their career

goals via ongoing professional development, coaching and more.

today's financial women spring 2010

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