How women payment execs navigate careers, leadership and mentoring

May 9, 2023 1:57 PM

The payments market is driven by an almost unprecedented mix of crisis and opportunity, an atmosphere that extends to career development.

The pandemic and the corresponding rush to digital have changed office culture, opening new opportunities for people with a wide range of skills. It's not just payments experience that's key — people who work in the payments industry have the chance to become experts at programming, product development, sales, risk management, blockchain and dozens of other disciplines.

At the recent Payments Forum in San Diego, several top women leaders in the payments industry discussed career management — for themselves, their peers and the next generation.

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That includes internal strategy, knowing how to promote yourself and other skills — and how mentorship is more than just opening doors for promotions.

Here is a collection of some of their insights.

Carol Wang, KeyBank

The diverse range of skills required in the payments industry often pushes you out of your comfort zone. It also forces you to market yourself or draw attention to your accomplishments, something that isn't always easy, said Wang, senior vice president of commercial payments at KeyBank.

Wang, who has been with Key for three years, previously worked in executive roles that stress industry partnerships at Fiserv and spent more than 15 years in payments strategy and merchant acquisition at American Express.

During that time, Wang has learned about balancing self-promotion and doing what is right by your team, and is passing that on to younger leaders.

"Tooting your own horn is a hard thing for a lot of women," Wang said. "We hope it's a case where we work really, really hard and someone says 'great job' to us."

Anusha Ramanujam, Block

Like a master key that opens a lot of doors, an executive position in financial transaction technology and product development isn't just one career. It can be several.

"Payments is magnetic and super relatable as a subject. It's what you buy, it's everywhere," said Ramanujam, global head of payment partnerships and product enablement at Block.

It's easy to bring payments into conversations because the field is so relatable and encompasses several job types — often simultaneously, she said.

Since payments can encompass multiple functions at an organization, there is an opportunity to learn and gain experience in several skills — including technology, marketing, product development, finance and more.

Ramanujam's background includes executive roles at Visa, Green Dot, Washington Mutual and HSBC, plus work on multiple payment technology projects.

"Payments are a great career. Not only for women but for everybody, especially those who wear multiple hats," Ramanujam said.

Bunita Sawhney, Mastercard

Mastercard and many of the other card networks have continued hiring as fintechs have shed staff during the past year. At Mastercard, a set of employee communities works on attracting and retaining talent, a top priority because talent shortages linger in financial services despite the economic downturn and layoffs at some technology companies.

These employee communities at Mastercard also guide product development, placing staff in positions that fit their interest and skills. The program also connects younger workers with mentors, according to Sawhney, executive vice president of U.S. Financial Institutions at Mastercard.

"Everyone can play a role in product development, even if it's not in their department," said Sawhney, who has worked on programs such as Mastercard's True Name card, which enables consumers to use their preferred name on their card instead of their legal name, to support gender inclusion.

Brittany Marten, Bank of America

Remote work and the "great resignation" have permanently changed work patterns and culture. That challenges leaders to connect with staff differently — and to communicate the importance of individual assignments.

"People want their work to be purpose-driven. We can change the context of the work, but a job is a job," said Marten, managing director and head of GIG Large Corporates for Global Transaction Services at Bank of America.

In this evolving environment, Marten stresses how everyday work connects to a larger mission, and how the team and individuals can showcase their value.

"You have to lead them down the path, to say 'here's the direction we're headed,'" Marten said. "But you can't do that if you aren't authentic."

Whitney Stewart Russell, Fiserv

Fiserv recently combined several digital financial services platforms into a single unit, putting them under Whitney Stewart Russell's management as president of digital solutions for the bank technology company.

Many of these projects were not only attached to different Fiserv units, but their initiatives were frequently derived from companies that Fiserv acquired.

Such integration requires an ability to manage debate — and to ensure all voices are heard, said Russell, noting that it's not just good for career growth, but it's also good for business.

"We have [women] leaders in each of our geographies that come together and share best practices … we've been able to create this global network of women who know who they can reach out to for advice, guidance, mentorship and advocacy," said Russell, noting that Fiserv's global footprint also enables women to share business and leadership ideas across borders.

Mary Ann Francis, IBM Consulting

Mentoring is also a major part of career development as experienced executives help the next generation. While mentoring is most often associated with landing new positions or career growth, it can be helpful in lots of other ways, according to Francis, associate partner at IBM Consulting.

"Mentoring is not always about a promotion or upward movement, " said Francis. "It's about improving employees in their existing roles, even as key contributors, and it's about keeping employees so as not to lose to a competitor or a family situation."

It's also important to mentor as diverse a group of people as possible, Francis said. "It's not just women in payments. It's women in the workforce, and males and sons that have a key role to play by not following the historical stereotype mentality."

Dondi Black, executive vice president and chief product officer at TSYS, a Global Payments Company.

Mentorship can be particularly helpful in helping younger professionals, especially women, learn self-advocacy, according to Black, executive vice president and chief product officer at TSYS, a Global Payments Company.

"Most of us have been challenged by imposter syndrome at some point in our career, Black said. "A great mentor can help us see through that fog of self-doubt and focus more on the facts and reality of a challenge or opportunity that lies ahead." Black said there have been multiple moments where her mentor saw something, an innate super-skill, that Black did not yet recognize in herself.

"By having someone trusted that can help you see yourself and your abilities in a different light, it can be a catalyst for taking a material step in professional growth," she said.

Brooke Major-Reid, Affirm

Honesty is an important part of helping the next generation of leaders. All careers involve struggle and setbacks, and mentorship includes passing that on.

"We have to always be real about saying it was never easy," said Major-Reid, chief product officer at Affirm.

Advice can also come from unexpected sources, as a person can provide insight that may not be directly related to your job, but can make a difference nonetheless.

"Sometimes my mentor was not the person who had the ability to make a change in my career but understood how I showed up and what I needed to achieve my goals," Major-Reid said.