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Discover Katie Smith
“Risk doesn't belong to the risk department; it belongs to everybody. And the management of risk can only happen if people are aware that it is a key ingredient into every recipe.” – Katie Smith
In this CDP accredited episode of RiskMasters, host Julien Haye engages in an enlightening conversation with Katie Smith, a seasoned legal and compliance leader with extensive experience in asset management. Katie shares her remarkable journey, from her early career beginnings to overcoming a major health crisis, and her perspectives on inclusive leadership and strategic risk management.
In this edition of RiskMasters, you will learn:
Resilience and Growth through Adversity: Katie discusses how a life-threatening heart attack profoundly changed her outlook on life and work. She emphasises the importance of resilience, patience, and relying on others during challenging times.
Authentic Leadership and Diversity: Katie reflects on her experiences as a woman in senior roles, highlighting the importance of leading with kindness, creating space for diverse voices, and encouraging inclusivity in the workplace.
Strategic Importance of Risk Management: Katie explains how integrating risk management into all aspects of business is crucial. She advocates for continuous dialogue about risk and views it as a strategic enabler for organisational success.
More about Katie Smith:
Katie Smith is the General Counsel at Ruffer an Asset Manager. With a career spanning roles at Vanguard and Deutsche Bank and beginning at Clifford Chance, Katie has extensive experience in the financial services industry. She is passionate about helping others, leading with curiosity, and fostering a culture of inclusivity and strategic risk management. Her personal experiences and dedication to creating supportive and innovative business environments inform Katie's approach to leadership and risk.
For more insights from Katie, connect with her on LinkedIn, where she welcomes conversations over coffee to discuss her journey and insights further.
Tune in to this episode for an inspiring look at resilience, leadership, and the strategic role of risk management in today’s business landscape.
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Accreditation number: 800035
Summary of the interview with Katie Smith on RiskMasters
“I have very consciously as a leader tried to make space for their voices, to encourage, to lead discussions with more questions than answers, and to create space for divergent voices.” – Katie Smith
In this insightful episode of the Risk Masters Podcast, host Julien Haye welcomes Katie Smith, General Counsel at Buffer and an esteemed figure in asset management. With a career spanning significant roles at Vanguard, Deutsche Bank, and Clifford Chance, Katie shares her journey and the pivotal experiences that shaped her professional path.
Career Journey and Background
Katie began her career at Clifford Chance, followed by notable positions at Vanguard and Deutsche Bank. Her diverse experience in the industry has positioned her as a leader in asset management and compliance.
Morning Routine
Katie discusses her transition from a night owl to an early riser, driven by the demands of parenthood and work. Her morning routine includes meditation, a walk with her dog, and enjoying the quiet time at the office before the day begins.
Major Challenges and Recovery
Katie opens up about a significant personal challenge – a massive heart attack nearly two years ago. Her recovery journey was complex and humbling, teaching her the importance of patience and reliance on others. She expresses gratitude for the healthcare professionals who supported her through this ordeal.
Leadership and Gender Impact
Katie emphasises the importance of leading with kindness and being authentic. She reflects on how her gender impacted her career, especially in senior roles where she often felt different and initially quieter. Over time, she embraced her voice and now advocates for creating space for diverse voices in the industry.
Diversity and Inclusion in Asset Management
Katie highlights the importance of creating a workforce reflective of the clients served. She is involved in industry-wide efforts to promote diversity and encourages organisations to double down on these initiatives, even in challenging economic times.
Risk Management and Compliance
Katie discusses the integral role of risk management in supporting the strategic agenda of firms. She sees risk as a strategic enabler that helps shape successful initiatives, emphasising that risk belongs to everyone in the organisation, not just the risk department. She highlights the importance of adapting to changing regulations and collaborating with industry stakeholders. Katie believes that risk functions should focus more on thinking and looking at the broader picture than just doing.
Regulatory Changes and Compliance
Katie addresses the evolving regulatory frameworks in the asset management industry. She notes the industry's need to adapt to these changes and work closely with regulators to ensure effective risk management and compliance.
Technology and AI in Financial Services
The interview discusses the impact of technological advancements and AI on the industry. Katie is intrigued by AI's potential to ease the burden of day-to-day tasks and enable professionals to focus on strategic thinking.
Client-Centric Approach
Katie emphasises the need to put clients first and ensure that investment products are not overly complex or bewildering. She stresses that the industry's goal should be to foster trust and provide clear, valuable investment options.
Collaboration in Financial Markets
Katie underscores the importance of collaboration and information sharing among asset managers, regulators, and industry stakeholders. She advocates for more established industry forums to drive ongoing, connected change.
Personal Insights
On a lighter note, Katie shares her wish for the superpower to speak any language, expressing her love for human connection and understanding. She also mentions her favourite writers, Carol Shields, Anne Tyler, and Armistead Maupin, who explore human experiences and relationships. Additionally, she notes that Maps is the one app she always has on her iPhone because of her poor sense of direction.
Final Advice for Emerging Risk Leaders
Katie encourages emerging leaders to harness their authentic voice and articulate their views compellingly to senior executives. She believes that legal, risk, and compliance functions are essential tools for running an effective business.
This episode is a must-listen for professionals in asset management, risk management, and compliance, offering valuable insights into leadership, diversity, and the evolving landscape of the financial services industry.
Action Items and Takeaways
1. Balancing Strategic Vision with Practical Risk Management
Katie Smith's journey emphasises the importance for emerging risk leaders to integrate a strategic vision with practical, hands-on risk management. This holistic approach ensures that strategic decisions align with day-to-day risk management practices, creating a cohesive and effective risk management framework.
2. Emphasising Diversity and Inclusion
The episode underscores the critical role of fostering diversity and inclusion within risk management teams. Katie’s experience demonstrates that diverse perspectives can lead to more comprehensive and effective risk management outcomes. Recognising the potential for improved decision-making and risk outcomes, leaders should actively create spaces to hear and value varied voices.
3. Adapting to Regulatory Changes
Katie highlights the necessity of staying informed and adapting to evolving regulatory frameworks. Risk leaders should proactively engage with regulators, ensuring compliance and anticipating future developments. This proactive approach not only ensures adherence to regulations but also positions organisations to effectively navigate and leverage regulatory changes.