Innovation in Banking with Citi’s Chief Innovation Officer, Vanessa Colella

In addition to discussing her non-linear career path, how to foster a culture of innovation in financial services, Vanessa Colella gave us her top three trends in financial services that we wanted to share with you. 

Increasing economic disparity 

Not only is economic disparity increasing but the anxiety around financial stability is skyrocketing. Citi launched Worthi to help people think about what skills they have, where those skills are in demand and what skills people can acquire to help advance their career

Embedded trade

While large suppliers have easy access to financing, many small and medium-sized businesses lack adequate financing significantly limiting their growth. Embedded finance solves the problem by integrating financial services into physical supply chain activities. Great deep dive into the trend by Citi here 

Atomization of the world

Everything from finance to office space has moved from one central location (the bank, the headquarters etc.) to many decentralized physical and digital locations. Decentralization presents a host of challenges for banks including digital identity verification when customers no longer want to come to the bank branch to present their ID documents

Financial Freedom: Building Wealth to Live the Life You Love

Join ACE Fireside Chat @ 8pm EST, Tuesday, June 22nd to hear from keynote speaker Bradley Baskir talk about how to realize financial freedom.

Our generation may be taking a different path through life than the generations that came before us. Our perspective on finances may be very different than that of our parents. However, the fundamental aspects of mapping out a financial future are the same today as they have always been — planning, budgeting, saving, investing and building good credit.

Don’t miss out on the opportunity to access our speaker’s golden insights and connect with a group of inspiring fellows.

RSVP for the event here!

Building Thought and Cultural Leadership Through D&I Initiatives | Event Takeaways

1. Work on Passion Projects 💡

• Joining D&I initiatives allows you to work towards social good backed by the large resources and opportunities of a corporate company.

• Being able to work on something you are passionate about while having success providing for yourself is a WIN!

2. Build Your Network 🧩

• D&I initiatives help you develop personal and professional relationships with colleagues across your firm.

• Exposure to senior leadership within the context of D&I shows you are engaged with the firm and will provide opportunities for mentorship and relationships with senior leaders.

3. Practice Skills You Need for Future Roles 🔑

• D&I initiatives can give you space to practice skills you want to improve on such as managing a team, presenting in front of a group, or asking for resources to fund projects you care about.

4. Find a Balance 🌿

• Kill it at your job first. That will give you the credibility to take on more.

• When getting involved in initiatives outside your direct responsibilities, choose something you are passionate about so it doesn’t feel like work.

• “Live your life like a portfolio.” Some days you will over index on work and some days you will over index on personal priorities. Over time you will find the right balance.

Crafting Your Personal Brand

Personal Branding as an Output instead of Input

a. Often people tend to think that your personal brand is only an ingredient to success, but it often can be an output of hard work and adding value for the people you work with

Authenticity is Key

a. Everyone has pillars in their life: Family, friends, career, health, and more. None of those things are going to be balanced at the same time, but being authentic and transparent about managing those aspects of your life can make you more relatable and thus make your brand stronger

b. Research shows that having slow-motion multitasking, working on multiple projects both inside or outside of work at once, makes you happier in life overall. So don’t be afraid to follow the passion projects you have outside of work

Adding Value to building your brand

a. Your brand is a collection of wins that are rooted in our ability to add value. Think of it as compounding interest — the more you add value and achieve those wins, your brand starts to build on itself over time 

b. We all have a boss, so take the time to see what that person needs in order to do their job well. Once you are able to add value in those respects, it will go a long way in building your brand at your workplace

Keren’s Advice for Best Practices

a. Accuracy and Punctuality: Get your work done, and get it done well

b. Networking: Make the time to network, and add value while networking

c. Practice: Always rehearse any presentation, no matter how formal or informal the opportunity. Try looking at your audience 80% of the time, and 20% of the time looking at notes

d. Competitive Advantage: Always bring your competitive advantage to work, It will help build your performance and overall brand

Maximize Your Impact through Passion Projects & Mindfulness

Striking Work-Life Balance to Find Success

a. Finding a juncture between your personal and professional passions requires you to shift your mindset on failure. Just because you fall down does not mean you have failed. If you don’t fall you are not challenging yourself.

b. Don’t rely on others for validation: The most important piece of finding the balance between your personal and professional passions is believing in yourself and your vision.

Collaboration is Key 

a. We can win without knocking others down.

b. We need to work together to include men in conversations on women’s empowerment. Bringing them along with us is integral to solidifying the progress that we have made over the past 50 years.

Know Your limits

a. Work/life balance is very personalized. It's important to pay attention to the types of activities that help you refresh and recharge (i.e. exercise, watching TV, reading a book, shopping etc.). Regardless of which method works best for you, listen to your body and take time for yourself.

b. It’s important to identify which balls are made of glass and which are made of rubber: Prioritize those that are glass and be comfortable sometimes letting the rubber ones fall.

Have A Voice as a Junior Woman in Finance

How to Have a Voice in General?

a. As the only woman and or person of color in the room, being fully prepared is a prerequisite to finding the confidence to speak up. 

b. Keep track of the questions you are asked in meetings and use that to guide your preparation. 

How to Deal with Unfair Feedback? 

a. Avoid getting defensive when receiving unfair feedback.

b. Try to listen like a third party observer and use it to understand the way you are being received by others, and as an opportunity to invest in your development.

How to Speak Up in the Age of Zoom？

a. Zoom actually offers a great opportunity to see each other one-on-one. Take the initiative to schedule the virtual catch-ups and coffee chats; people will appreciate it.

b. There is no such thing as over communication in the WFH environment. Use daily or weekly check-ins to ensure you’re staying visible with your manager or team.