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What a career on our Client Experience and Digital team looks like

The Retail Investor Group’s (RIG) Client Experience & Digital (CXD) sub-division was formed in summer 2019 to provide Vanguard clients and crew with meaningful, world-class digital experiences. While CXD currently has variety of team structures, it primarily uses cross-functional teams called Journey Labs that implement an iterative approach to improve a client journey – The end-to-end process when completing a task, such as opening an account. CXD also uses Product Teams, which are nearly identical to Journey Labs except that they are aligned to a particular channel or capability, such as mobile. This multi-faceted approach allows CXD to provide world-class experiences for all clients, no matter how they interact with us. CXD crew recently shared their personal experiences working in the RIG sub-division. Here are excerpts from their stories:

Brandon P., Head of Content Strategy in CXD:

As writers and content strategists in the age of digital marketing and user experience (UX), most of us have spent a lot of time doing two things:

Wearing multiple hats at once.
Trying to convince people (outside of content) that content strategy is actually important.

We’ve all been there. In the Client Experience & Digital (CXD) group at Vanguard, every one of our content strategists has the opportunity to work as an integral and equal part of a dedicated UX team alongside visual designers, UX strategists, researchers, and more.

Cick here to read Brandon’s full story.

Gavin C., Head of Design in CXD:

My career at Vanguard has been a unique journey. I started as a user experience (UX) designer in 2001 and then left to pursue a graduate degree full-time in 2003. After graduate school, I spent 10+ years working for myself as well as teaching design and digital strategy at a few universities. I came back to Vanguard in 2014 to help evolve the UX practices within the firm. Since returning, I am often asked two questions – Why did you come back, and what is it like being a designer at Vanguard?

Click here to read Gavin’s full story.

Jason L., Senior Product Manager in CXD:

I have been a Journey Owner at Vanguard for three years. When I was offered the job initially, I had no idea what to expect, and neither did anyone else. I was the first to assume this role, and one of the scariest (read: exciting) things about taking the job was not really knowing what I was getting into. So my hope is that I can help answer the question: What is it like being a Journey Owner at Vanguard?

Things change hour to hour… and that’s a good thing.
The learning never stops.
The most useful skill is leadership.

Click here to read Jason’s full story.

Mark D., Senior Scrum Master in CXD:

Before I joined Vanguard in late 2018 as a scrum master for a Client Experience lab team, I spent many years working with more traditional, enterprise-agile software development teams – typically seven to nine people comprised of one product owner, five to seven full stack developers, and one scrum master. Upon joining Vanguard, it felt a bit overwhelming to have the additional expertise on each team for disciplines like client research, user experience design, content writing, and data analytics. It didn’t take long, however, for me to begin appreciating the simplicity, power and effectiveness of this one-team approach.

Click here to read Mark’s full story.

Rehana V., Software Engineering Manager in CXD:

If you’re anything like me, you were drawn to technology and software development because of the problem-solving nature of the work; the opportunity to piece together a puzzle that starts off as an idea and ends with a tangible product. You yearn for those moments when you think you’ve hit a brick wall with no path forward, only to have an epiphany at the remotest of hours that just might work. Now take all of that, the challenge and adrenaline of breaking through that brick wall, and make it core to what you do day in and day out, not just when your fingers are on the keyboard. Within the Client Experience and Digital (CXD) group, developers, strategists, designers, scrum masters, business SMEs, data analysts, and researchers come together to form product teams working to offer best-in-class web experiences to our investors.

Click here to read Rehana’s full story.

CXD collaboration at our Malvern facility

Interested in reading more about our CXD team? Click here for Jane M.’s story.

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Personal Advisor Services establishes essential partnerships with Vanguard’s Crew Resource Groups

As a Personal Advisor Services talent attraction lead, I was excited to coordinate the first event in partnership with two of Vanguard’s crew resource groups (CRGs), the Vanguard Black Professional Network (VBPN) and Hispanic/Latino Organization for Leadership and Advancement (HOLA). The virtual event took place across our three domestic locations; Pennsylvania, Arizona, and North Carolina. During the hour long session, advisors and managers, who are also members of the CRGs, supported as panelists. The purpose of the event was to introduce Personal Advisor Services (PAS) as a career path to members of VBPN and HOLA who were eager to learn more. The desired outcome was to establish a formal mentorship program for crew, in which they will be paired with an advisor in the same CRG, creating a commonality as the foundation for the relationship.

I approached VBPN and HOLA in 2019 with the idea of hosting an event together after discussing the idea with our Diversity and Inclusion team. I worked closely with the CRG talent attraction leads, Dionne M. from VBPN and Lynnette D. from HOLA. Both women were a pleasure to partner with, and I enjoyed getting to know them on a more personal level during our many thirty-minute checkpoints.

March 18th was set to be the first event across the sites, but as COVID-19 became more prominent in our communities, Vanguard quickly shifted to a work from home environment. We had over 170+ crew registered for the event, and I was determined to not let them down. Just two months later, we reorganized the event to a virtual environment, with even more sign-ups than the first time!

Vanguard’s PAS and CRG Event

The event brought forth dozens of questions submitted by attendees and candid responses from the PAS panelists. I was so appreciative of the transparent answers which addressed minorities in the industry and demystifying bias in the advisor role. Additional topics of discussion included a day in the life of an advisor, the skills and experience necessary to become an advisor, and the Certified Financial Planner certificate process. Attendees provided positive feedback on the event, expressing, “I enjoyed hearing about the experiences of crew members in PAS as well as what Vanguard is looking for in new advisors. Also, I enjoyed hearing members of the CRGs speak to the importance of creating more diversityat Vanguard.”

The most rewarding part of this experience was the parity created between VBPN, HOLA, and PAS crew. With recent events across country, we can recognize the biases and injustice that still exists. During this event, we created a space for crew to bring their authentic selves and be equally represented at Vanguard, a true testament that our organization is focused on creating a diverse and inclusive environment – something that has felt distant in present-day society. PAS is committed to strengthening our partnerships with the crew resource groups at Vanguard and I look forward to similar events in the months to come.

-Janae F.

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Reflections of an Oversight and Manager Search Analyst

Breaking the “Investment Analyst” mold

“Could you describe the qualities that you look for in a new hire?” I ask, noting the expression and body language of the portfolio manager across from me. I listen to her thoughtful answer, jotting down her points and indicating in the notes my personal assessment of the quality of the response given. The conversation moves on to the origins of the team’s investment philosophy and then the nuances of her stock selection process. After the meeting is over, I’ll stop in the hallway and discuss with my teammates one topic: do we think this advisor has what it takes to manage one of Vanguard’s funds?

For almost four decades, the Oversight and Manager Search (O&MS) team, which sits within Vanguard’s Portfolio Review Department, has been tasked with the dual mandate of overseeing Vanguard’s current investment advisors and searching for new talent. O&MS acts as the eyes and ears of Vanguard’s Board of Directors, and by extension, every investor in our products. Although an important aspect of the job is to evaluate each fund’s performance, traditionally what you might think of as “investment analysis”, an equally critical component of the job is assessing what we call the “drivers” of investment returns: firm, people, philosophy, and process. How stable is the firm? What is the caliber of the investment team, including the portfolio manager? What inefficiency in the market is the team trying to take advantage of? How long has the team been investing this way? These are the types of questions that help to uncover whether a partner will be successful at managing portfolios over the long-term.

Prior to working on the Oversight and Manager Search team, I would never have guessed that this was what an Investment Analyst did. My expectation was that analysts were “heads down”, buried in spreadsheets and research papers, working with numbers rather than other people. The reality? While there are certainly days where we spend one-on-one quality time with Factset and Excel, a critical aspect of the job (and I think the most enjoyable part) is the frequent face-to-face communication. On the O&MS team, we meet with advisors external to Vanguard on a regular basis and have conversations that help to shape our opinions and support analysis that we conduct behind the scenes. When it comes to team collaboration, critical conversations often take place at our weekly research meeting. Analysts are expected to bring forth their work and points of view, only to have those views challenged by team members and debated until we are left with the sharpest, most well-supported version of the original analysis. Outside of those formal gatherings, it’s not uncommon to find the team engaging in hallway chatter and heated over-the-cube debates. The culture of the O&MS certainly breaks the mold of your typical investment team, but that’s what makes it fun to be a part of.

The new normal of “face-to-face”

Devon works in her home office.

“Sorry, I interrupted- you go ahead.” “If you have a question, feel free to message the group.” “Can we pause, I have to put my 3-year-old in the living room.” Several weeks ago, it became apparent that our new remote work-life presented a novel set of challenges. Lines between the “office” and “home” were not just blurred – they were obliterated. Our team was accustomed to sitting in a room and facing one another at weekly meetings, stopping by anyone’s desk with a question or idea, and enjoying each other’s company. What’s more, our meetings with investment advisors were also relegated to video chats. Amid those critical conversations that help to build or break our conviction in a manager’s skill, we now had our family members and roommates roaming around in the background of our video chats. During that first week of working remotely while quarantined, my expectations were admittedly low. I was skeptical that we could replicate the type and quality of conversations – the human connection – that we would have in the office, sitting across from one another.

What I did not expect was the Oversight and Manager Search team, and every team that we’ve interacted with, taking on the challenge in stride. The weekly research meeting moved from the big conference room to a big virtual conference meeting, where the punchy dynamic is largely preserved through speaking up if a point needs to be discussed broadly, chatting direct questions or observations, and liberally utilizing emoji’s and GIFs. Collaboration still happens through video working sessions and one-on-one catch up calls. The over-the-cube conversations are missed, but in their stead, my teammates and I have put in effort to schedule virtual lunches, optional after-work Quizzo nights, and evening yoga sessions to keep us connected.

Our advisor meetings have continued without missing a beat. It’s been a fairly seamless transition, and funnily enough, a great way to connect with our portfolio advisors on a human level. Maybe it’s because, for the first time ever, we are all going through the same thing, experiencing the same Internet glitches and family interruptions.

Transitioning to working from home has certainly challenged us to be flexible, patient, and adaptable to new modes of communication, but in reality, it has not changed how we build working relationships with one another. If anything, this has been a chance to be intentional about how we connect with others, regardless of whether we are sitting across from one another in a conference room, or speaking face-to-face from one home office to another.

—Devon N.

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Onboarding into a new job in uncertain times

Accepting a job offer can be a time of excitement, confusion, and anticipation. When you add in an environment of uncertainty, you may be questioning your decision. We spoke with three crew members who recently joined Vanguard and went through the onboarding process. They explain what to expect and how to ease your transition into a new job.

Valerie F. attended our standard Vanguard orientation, but was transitioned to remote work after just two days in the office.

My manager told me, “I need you to be prepared to work at home.” A big aspect that really helped was being able to understand how to get the appropriate technology access needed for me to do my job virtually. I was able to get everything set up on my mobile device and for this reason, I was able to work from home immediately.

A few other items are worth noting. My manager was already prepared for the situation and had everything ready for me. All department resources were available online, which put me at ease. I was also able to network with my team and others, while they showed me the ropes virtually. I can call anyone, anytime on my laptop.

The situation was a little different for Mike M., who was one of the first crew members to go through a new onboarding process. He had originally received the typical new hire information, but instructions changed along with our new ways of working.

About a week after I received my job offer from Vanguard, the global environment changed. I was wondering what the impact would be and whether or not I would still be able to onboard as planned. I continued to receive normal communications and completed all steps in the pre-hire process.

I did, however, participate in a unique onboarding experience, where new crew came onto campus in small groups at designated times, and practiced social distancing throughout their two-hour orientation. We were provided with the equipment and information needed for a virtual set-up, and then returned home.

As a member of the IT department, Mike went through an IT-specific onboarding program the following day—all virtual.

Hiring manager Nima P. also felt that the onboarding experience was seamless.

Vanguard made it easy for me and my peers. Although I was unable to be on campus to welcome my new crew member, I talked to him the day before orientation. I told him once he was set up, to make sure everything worked before leaving campus. The day of, we spoke on the phone once he had all he needed before heading home. It was perfect.

Valerie and Mike feel integrated into their new teams and have been able to work productively from home.

Mike M.: From my experience, with the level of collaboration and inclusion, this new way of working does not appear to be an issue for crew. Vanguard places a real emphasis on ensuring employees feel connected.

Valerie F.: The team I’m working with has been very accommodating. They regularly check in on me. It’s really great. We meet virtually often and look for ways to drive engagement, collaboration and business results. To me, it doesn’t seem virtual because we see each other regularly. It feels normal.

Valerie also had some advice for those who are encountering this new work environment.

Keep actively learning. Broaden your network. Just because we’re virtual doesn’t mean you can’t talk to people on your floor. I had a video conference with someone that sits two desks over from me, and I’m looking forward to meeting him/her in person. To anyone looking to work at Vanguard, the company goes so far to make sure its clients are taken care of, but also does this with their crew. It’s amazing how much work we’ve been able to accomplish. I’ll look back years from now and think that it was pretty amazing.

Since interviewing these individuals, Vanguard has moved to a 100% virtual onboarding model for the foreseeable future.

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How to prepare for a virtual interview

April 8, 2020/in Advice from crew, Career opportunities all camera, in-person, interview, interviewer, recruiter, test, video /by ldoyle

How to prepare for a virtual interview

A virtual interview may not differ much from an in-person meeting, but there are still things you should keep in mind. We have pulled together some tips to ensure you are prepared and camera-ready.

Prepare as if your interview was in person

Research the company and the industry.
Anticipate what the interviewer may ask.
Have questions ready for the interviewer.
Wear what you would to an in-person interview.

Master the technology

Carefully read the instructions sent by the recruiter.
Prior to the interview, test the programs and applications you’ll be using, including video capabilities.
Practice speaking to the camera.
Have a back-up plan in case you encounter technological difficulties.

Control your environment

Pick a quiet place where you won’t be interrupted.
Make sure the lighting in your location is right for the video camera. Test this in advance.
Blur the background during the video session, if possible, to avoid distractions.

Don’t forget!

Put your phone away.
Turn off computer notifications.
Have a glass of water within reach.
Keep a copy of your resume nearby for reference.
Be confident and make good eye contact. The recruiter will still be able to see if you’re looking down at notes for long periods of time or are distracted for other reasons.

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A look at Internal Sales in the Financial Advisor Services division

We recently sat down with Heidi Spilotros, who leads the Broker-Dealer Internal Sales team in the Financial Advisor Services (FAS) division at Vanguard. In this blog, she highlights key components of her role, the broad impact FAS has on our advisors and personal investors, as well as advice for candidates who may be considering applying for an opportunity on her team.

Why did you become a Vanguard crew member?

I have been in sales my entire 24-year career and I have been in financial services sales in one form or another for most of that time. One of the biggest draws for me coming to Vanguard was the culture, and what I mean by that is the focus on collaboration and crew. There was a positive collegiality that I felt when I came here. Many of the environments I have experienced have been male-dominated and highly competitive, and without a willingness to share information or help others. The inclusive nature of Vanguard came through in the interview process. Every single person I met really wanted to ensure I was a culture fit who could help strengthen the collaborative, collegial environment where all voices are heard, everyone is encouraged to bring his or her best ideas to the table, and everyone wins together. I’ll be honest, I didn’t really believe it at first, but after being here for 18 months, it’s true. I have a great team that cares for each other, promotes a sense of belonging, and iterates with one another on everything, even when we dissent and disagree. No feelings are hurt because it’s all in the spirit of trying to do what’s right for our clients and what’s right for Vanguard.

How does your team directly contribute to the client experience and doing what is right by our investors?

It is important for our sales force in FAS to always keep the end client, investors, top of mind, even though we deal directly with Financial Advisors. We have to understand both the Advisors’ business as well as the client perspective, which can get complicated at times. But when you think about the impact you have if you effectively communicate our mission and offer to the Advisors, and help them achieve the goals they have for their clients, it’s really something. One advisor can reach hundreds of clients, so if we set them up for success, a multitude of investors benefit. For every generation our sales team can touch and every subsequent generation of advisors they teach and train, the impact can be exponential. In FAS, we want to make sure that everyone has the best chance for investment success.

How is the sales organization in FAS evolving?

There is a transformation underway called distribution enablement and it is exactly as it sounds. It is a variety of tools, processes and resources that will help our sales people be more effective. There are ways in which we can approach the market more efficiently and a variety of enablement tools, technology and techniques that will allow us to do so.

We are starting to deploy these tools, and one example I’ll share is around our ability to deal with sales opportunities. Our teams haven’t previously been able to answer key questions that would allow one to determine and track success measures. With this new methodology centered on gathering information and involving all players to make better-informed decisions, we now have a shared language and approach that will help us accomplish our goals in a more streamlined way. Going forward, we need to ask ourselves the following questions: How do we go to market with something unique? How do we see more clients? How do we see them more often and further our relationships?

What are you looking for in a candidate to join the FAS sales team?

The first thing I would say is that sales is one of those words that can be viewed in a variety of ways. Sometimes people can be intimidated. What sales really means, especially in FAS at Vanguard, is that you are able to make connections with people. Are you curious? Are you interested in uncovering what an advisor’s business is all about? If you’re curious, love building relationships, and enjoy solving problems, this could really be a great path for you. Sales is one of the most fascinating professions as it is truly filled with philosophical conversation using psychology and human behavior to understand why people make the decisions they do and how you might be able to influence and guide them to a mutually beneficial outcome. Ultimately, this is all about empathetically navigating a conversation in order to identify what’s most important to that person. When asking our sales folks what the best part of their day is, more often than not, they’ll say it’s when they have had great client interactions with financial advisors and brought value to the relationship.

Interested in a career in Sales? Please click here to view available opportunities.

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Vanguard Leadership Performance Consultant Matt P. shares his insight on creating a feedback culture—and as he mentions, it doesn’t need to be scary!

If I’ve heard it once, I’ve heard it a hundred times: “I’m open to feedback. Please share it with me as soon as you have it.” But once there’s something to share, feedback becomes the “gift” everyone wants to return.

For over ten years now, feedback has been an integral part of my professional (and personal) life. As a corporate trainer, leader, and now Leadership Performance Consultant, I recognize that feedback is an essential ingredient in the development and growth of others (myself included). I rely on both dispensing and receiving it. And others rely on my ability to articulate its importance and understand its impact to their career.

It’s normal for our skin to get too “thin” when it comes to feedback. And aside from the good game a person may talk, feedback is generally avoided. You can predict the result: Development stalls, or even halts completely. Feedback doesn’t need to be scary. And although it’s often misunderstood, it isn’t complicated. My advice: Run toward feedback! Dispense it with empathy, and receive it with gratitude.

So what is feedback?

Well, at its most basic, we use feedback to “grow, show, or know.” More specifically, this means providing “developmental” or “evaluative” (sometimes both) feedback to help someone. And that someone shouldn’t necessarily be an employee who is getting a message from a leader. Feedback works best when it’s given peer-to-peer, leader-to-direct, and direct-to-leader. We’re all in this together. So what are the nuances between developmental and evaluative?

At the highest level, developmental feedback is based on a desire to grow or develop someone at an individual level. It provides detailed information on how behavior or performance can be changed or maintained. It also gives minimal indication or performance relative to others. In contrast, evaluative feedback is usually for a defined period of time and aligned to a specific competency. It’s often tied to specific rewards or compensation, and focuses on outcomes or relative impact to others. Lastly, feedback is not coaching. But feedback informs and drives coaching. Feedback is factually based and past tense. “In yesterday’s meeting, you did XYZ. Here was the impact.” Coaching gets into where you go from here.

Often times, people give compliments in lieu of feedback. “Great job in today’s meeting!” Thanks. But what was so great? This is a prime opportunity for specifics. “Great job” is more of an opinion—a compliment at its best (at its worst, it avoids giving detail and thoughtful insight). Instead, try linking what someone did to the expected results of the job, or something the recipient is working to improve. And don’t worry; you can still be complimentary: “Great job instilling confidence in your stakeholders yesterday. During the meeting, you answered every question with detail, affirmed next steps, and assigned deadlines appropriately. As a result, everyone left with a better understanding of his or her responsibilities, as well as where the project is going.” See the difference?

Find your approach

In order to be truly effective, feedback needs to become habitual—think brushing your teeth or going to the gym. Each of us should be looking for opportunities, regardless of role or level, to make feedback more deliberate and disciplined. If you’re asking for it, reflect on what you can do to solicit for it, and make it safe and easy for others to provide it. Don’t get defensive. Seek to understand, thank the messenger, and reflect on what you heard. If you’re giving it, be thoughtful and specific with the message, and show that you’re invested in someone’s growth, not looking to nit-pick. Provide it often so it becomes routine and is expected by others.

So often what I observe is that feedback is only given when someone does something that falls on the furthest ends of what I call the “Nailed it! Failed it!” spectrum. If Cynthia does a “great job” in a meeting (Nailed it!), she gets a compliment (again, not feedback). If Cynthia messes up (Failed it!), she gets feedback about what she did “wrong” (and coaching may or may not accompany it). Resist the temptation to live on the fringe. Most of what we do in our careers are neither “Nailed it” nor “Failed it” case studies. We live in the “in-between”. And here lies the greatest room for feedback to work its magic.

Here’s an example: “Matt, I appreciated your participation and insight in yesterday’s staff meeting. Can I offer you some feedback? I noticed a few times throughout the meeting you were checking your phone. During one of these instances, you weren’t able to notice the non-verbal reaction several teammates had to something you said. Keep in mind that looking down at your phone instead of reading the room may serve as an impediment to your ability to counter resistance, read the room, convey commitment, and or effectively influence others.” This is an instance of where giving a precise and meaningful piece of feedback can help a teammate understand the impact of his behavior. And, should he chose to act on it, get better!

Make feedback more habitual by carving out time in one-on-ones, team meetings, and/or coffee chats with colleagues. After a while, others will see feedback for what it is—a conduit for insight and development, not penalization. The more people understand that it’s being given not only to address large skill gaps (appropriate, though not the norm), but to reinforce positive behavior and improve performance and overall development, the more people will seek it out—even expect and appreciate it! Create a safe, empathetic environment for giving and receiving feedback, and strive to make feedback more expected, so it’s accepted. Only then will it truly be the “gift” that everyone wants to receive.

— Matt P.

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