Make feedback expected, so it’s accepted
It’s National Career Development Month this November, and Vanguard Leadership Performance Consultant Matt P. offered to share 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” (sometime 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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Four Unexpected Things I Love about Working in Investment Management
Last summer, after working in various “business” roles across Vanguard, I, nervously, pursued an opportunity to work in Vanguard’s Fixed Income Group as a trader. I had always been interested in investments—that interest was what brought me to Vanguard and led me to pursue the CFA® designation earlier in my career. However, the only investments I had actually managed were what was in my retirement account (and admittedly I managed those somewhat sporadically). I was excited by the prospect of turning my academic interest into a career. While nervous about the learning curve, I had high expectations for the role. I expected my favorite aspect of the job to be the learning; to love the challenge; to enjoy being more in tune with the markets and what’s going on in the world. And after a year, I can confidently report that all of these expectations have been met; I have enjoyed these aspects of the job. But some of my favorite parts about my role as a trader are things I did not expect:
The collaborative process
Looking back it seems silly, but when I pictured a successful trader before I worked in investment management, I envisioned someone who could quickly comprehend what was going on in the market and then swiftly, and independently, act on it. I completely underestimated the collaboration that occurs on the trading floor. I frequently see expert traders and strategists, often with decades of experience, approaching a colleague to run an idea by them or ask their opinion. In fact, some of the most senior and successful traders are the ones who do this the most often.
Infectious passion
Spend a few hours in Vanguard’s Fixed Income Group and you will quickly realize you’re surrounded by people that LOVE their jobs. You can hear it in the way they talk, and, fortunately for me, the way they teach. The excitement and inherent interest when you bring a group of passionate people together begets further interest when questions are raised and opinions debated.
Diverse backgrounds of my coworkers
You may be noticing a trend of faulty expectations on my part… but I thought the typical career path was study finance à work in an investment support function à move into front office trading. I love that, again, I was wrong and that there is no typical career path. I work with former consultants, aerospace engineers, accountants, computer science PhDs, English majors, and self-taught coders. It seems obvious now but diverse backgrounds yield diverse thought which is what makes a great investment team.
Tangible impact on clients
Perhaps I should have expected this but my favorite aspect about my job is the tangibility of the impact we have on clients. It’s a great honor and great responsibility to manage our clients’ money. I’ve been fortunate to have experienced that impact in all of my roles at Vanguard but never has the impact been as tangible as it is as a trader. It’s incredibly rewarding to measure the impact you have in helping clients progress towards their goals.
A year ago, I thought the trading floor was an intimidating place. Now I think it’s an incredible place to learn and have an impact while working with some of the most passionate people I’ve encountered.
-Molly C.
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Studying for the CFP® exam? Don’t run out of gas
About 10 years ago, before ‘distance-until-empty’ technology was standard in vehicles, I had a couple of friends who often played the ‘gas light’ game. The rules of the game are simple: Reset your vehicle’s tripmeter once your gas light goes on, and see how many miles you can go without running out of gas. Because MPG can vary for each vehicle, my friends never played against each other, but rather the game was always them vs. their car. Interestingly, there’s no way to win the ‘gas light’ game. Either you eventually go to the gas station to refuel, or you run out of gas and lose the game. Consequences of losing the game included calling a loved one, explaining why you ran out of gas, and then humbly asking for their help. Studying for the CFP® exam is a lot like playing the gas light game. Each study module is its own challenge where you must push yourself to the limit and increase your knowledge, but you must know when to give yourself a break and refuel. You must understand that it is a lot like planning for a wedding, not a toddler’s birthday party, and the inability to pace yourself appropriately can cause one to get burnt out and ‘lose the game’. Another key similarity between studying for the CFP® exam and the gas light game: There is no way to win the game. “What?! Don’t I get credit for passing the exam?!” Well, yes, but that’s not the end. If you’re like me, it is more of an enabler towards the ultimate goal: Helping people who need help. What matters most is what you do with the knowledge and how you use it to positively impact people’s lives, and there is no end to that, but rather it can be a life-long calling.
So, I bet you can guess what my motivation was for wanting to pass the CFP® exam. What is your motivation? What is the very specific, extremely tangible reason why you yearn to be a CFP® Professional? I strongly believe that you must have a confident, consistent answer to that question, because you’ll need that ‘light at the end of the tunnel’ amidst your long study sessions. What else might you need? Here are a few things for you to consider:
Leverage a professional education provider and trust their process. At Vanguard, we have a program where we partner with a professional education provider, and they have a myriad of resources that improve one’s ability to be successful. If your company does not have a formal partnership established, do some research and ask for corporate sponsorship through a provider of your choice.
Know your learning style and study habits. I cannot stress enough that this is, in my opinion, the most critical piece of one’s study strategy. You must know your learning style and what works for you. This allows you to be efficient and spend your time learning how you learn best. For me, self-study is key, and a classroom environment isn’t as effective. For you, it is likely something different. Adjust your learning style as appropriate.
Set a study schedule and get buy-in from your support system. I have five young kids. NOTHING is getting accomplished at home. For me, study time started in the office at 6:00am each weekday before my work day began. Whatever it is for you, make sure those supporting you during this journey, both at home and at work, know your study schedule and agree to help hold you accountable to it.
Final encouragement: If I can do it, anyone can do it. I hadn’t studied for a formal exam in over 10 years, and my fifth child was born a month and a half before exam day. That means my study skills were rusty, and I wasn’t getting enough sleep when I needed it the most. You’ll likely have your own challenges, but if you hold on to that motivational reason and persevere, you’ll be well on your way to positively impacting people lives. Just don’t run out of gas.
-Matthew B.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
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Finding the support I needed at Vanguard
A refreshing change of scenery Recently, I took the time to sit back and reflect on my experiences in the workforce as a whole and realized I’ve been pretty fortunate. I have worked in various fields – while not necessarily ideal since I’ve always wanted to work in finance, I still never worked in a role or for a company I didn’t enjoy. However, last year while working in the telecommunications field and with six years of military experience under my belt, I decided that I would finally do all I could to get into the financial industry. I joined Vanguard in September of 2017, and not only has it been a refreshing change of scenery in a new field, it’s been everything I’ve hoped for and more. An excellent support system As a Client Relationship Associate, there were a few daunting things I had to face to jump start my career – taking the Series 7 and Series 63 exams, and refreshing my finance knowledge from my accounting studies in college. I was fully prepared to go home each day and study like my career depended on it – because frankly, it did. This is when I first noticed the depth of Vanguard’s support. My fellow new hires and I were provided study materials free of cost and given a plethora of time to be able to study, ask questions, take classes, review scenarios, and everything else we needed. I passed both exams on the first try – despite not having a finance degree! Now, as I approach a year as a successful Client Relationship Associate at one of the largest firms in the world, I’ve started to pursue growth opportunities both professionally and personally—some of which include helping our local communities. I’ve had the opportunity to participate in the holiday giving season through Vanguard, and we’re also provided a volunteer time off day in which we get to help our communities while being paid! Professionally, I’ve been able to meet with fellow crew members in different departments and see a day in their lives, pick their brains about what’s needed to succeed in their role, and view them in action. My team leader Jake has been essential in not only lending his network to get me in contact with different departments, but also in getting me the free time to explore other roles at Vanguard. These sessions have been very important and have helped me identify next steps and roles I’d like to pursue at Vanguard.
The journey continues
With the free time to observe other departments combined with seeing how my team leader has helped me on my journey, I’ve figured out that I want to pursue either a financial advisor or leadership role. I’ve enjoyed seeing the way our leaders develop crew members through coaching and mentoring, and watching how our advisors add value to our clients’ lives by helping them accomplish their goals. It is my hope to continue to build even deeper and more meaningful relationships with my colleagues and our clients, as well as to further develop my skills in my career. Whether it be in leadership or as an advisor, I will continue to be a steward of Vanguard’s mission to take a stand for all investors, to treat them fairly, and to give them the best chance for investment success, all while fostering this same passion with the crew and clients I work with.
With Vanguard’s flexibility and support, I have full faith that I’ll be able to succeed and in a timely manner. As my journey continues, I’m excited to know I have Vanguard’s support and would encourage others to be unafraid of using all of the wonderful resources available to you. I know that I will be able to attain the career I want at Vanguard.
-Rod M.
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My dad sparked my investment passion; Vanguard fueled it
My father was a payroll clerk by trade, but his true passion was investing. When I was growing up in the 1980s, every weeknight at 6 o’clock my dad watched The Nightly Business Report on PBS on our only TV. Needless to say, this was before the internet and CNBC (I know, I’m dating myself), so it was really the only way you could find out what happened in the markets before you read it in the newspapers the next day. I vividly recall how my dad used to hoot and holler whenever good news boosted one of the stocks he owned, even though he regularly invested through up and down markets, reinvested the dividends, and held his stocks for decades. His passion sparked my interest in pursuing an investment career, which began at another investment firm performing research and oversight of institutional money managers. While I was aware of Vanguard and even owned some Vanguard mutual funds, at the time I had the impression that Vanguard was “just” an index shop, and not a “real” investment firm. Boy, was I wrong. My introduction to Vanguard About nine years ago, I began to pursue an opening in Vanguard’s Oversight and Manager Search team. The more research I did on Vanguard, the more I realized that it was truly a world-class investment firm – active and passive, equity and fixed income. The crew I met with were smart yet humble, and the investment research was insightful and balanced. I joined Vanguard in 2009 as a Senior Investment Analyst in the Portfolio Review Department, on the team that provides oversight of Vanguard’s investment managers and funds. I was able to learn about a lot of different investment approaches from not only Vanguard internal managers, but from the roughly 30 other world-class investment firms Vanguard partners with like Wellington, PRIMECAP, and Ballie Gifford.
Vanguard around the globe
One day in 2013, I was on my way to the Galley (the on-campus cafeteria) when my department head pulled me into his office and said, “We’re thinking of sending you to Hong Kong.” My reply was, “I was thinking of getting a sandwich.”
Ten months after that conversation, my wife, three kids, and I moved to Hong Kong where I was tasked with building Vanguard’s investment product function for Asia—designing and launching Exchange Traded Funds (ETFs) and mutual funds, and educating clients about them. It’s where I learned about the ETF ecosystem and retirement systems for Asian countries.
Asia Product and Investment Team 2017
After three years in Asia, I returned to our headquarters in 2017 to lead Vanguard’s Defined Contribution Advisory Services (DCAS) team. Ever wonder how a company decides which funds to offer its employees in their 401(k) plan? And how they oversee those funds? Well, our team of investment professionals delivers investment perspectives, evaluations, and custom portfolios to help those companies and their consultants do just that.
DCAS- ugly sweaters and curling!
A common thread
My three roles at Vanguard are very different and none of them are in the Investment Management division, but the one common thread was each requires a strong degree of investment acumen for success. Fortunately, Vanguard provides a ton of resources and support for crew to develop and deepen their investment acumen, from paid support for the Chartered Financial Analyst (CFA®) and Certified Financial Planner™ (CFP®) programs, free mobile access to the Wall Street Journal and other industry news sources, numerous internal investment training sessions, and more. As long as you bring a “growth mindset” and an intellectual curiosity, there’s no limit to your development.
I’ve seen Vanguard’s investment research, analysis, and portfolio management become more sophisticated and global over the years. But our investment philosophy has remained steadfast since our founding more than 40 years ago: set an investment goal, diversify your portfolio, keep your costs low, and stick to a plan —strikingly similar to my dad’s approach.
-James M.
If you’re seeking an environment where you can make a difference and develop professionally, check out our career our opportunities at www.vanguardjobs.com.
From designing buildings to building financial plans
In my last blog, I shared with you the moment I knew leaving the world of architecture behind for personal finance was the right move. This is how I was inspired to come to Vanguard. In the fall of 2012, my school awarded John Bogle the “Pioneer Award” for his efforts in starting the Index Fund and persevering through the hard road for this phenomenon to catch on. Here I was sitting, on the edge of my seat of course, several feet from a titan of finance! After the Q&A session, I had the pleasure of having lunch with Mr. Bogle and his team. He autographed my copy of The Little Book of Common Sense Investing and shared a few more stories. Later that day, I helped him carry his Pioneer Award and a large framed painting of a ship from Great Britain’s Royal Navy to his vehicle. I also made sure to tuck my resume in the portfolio of one of his recruiters.
Several emails and a few college transcripts later, I landed an interview with Vanguard’s Business Development Group. By this time, I was a pro in navigating Vanguard’s campus as I had visited during one of their EXPLORE days. Two weeks later, after the phone screen and four hour interview I was offered a full time position. Not only was I going to start my career with a top investment management firm, but I ended my job search before I even graduated!
After several weeks on Vanguard’s campus in Malvern, PA, I felt at home. Now I knew why so many investors trusted Vanguard with their life savings. Everyone from peers to leaders was dedicated to helping not only our clients but also crew members like myself, grow as professionals. The management team was engaged in my development and my peer coach was ready to provide job aids and resources to help get me off the runway.
By the end of 2013, the economy was continuing to stabilize, cash flows into Vanguard were steadily increasing, and the phones were ringing off the hook. Vanguard announced they were rebranding its advice offer, now calling it Personal Advisor Services® and that it was going to revolutionize the world of advice. We were going to provide high-quality, low-cost advice to millions and I couldn’t wait to be a part of this investment revolution!
Shortly after the announcement, I began studying for the CERTIFIED FINANCIAL PLANNER™ certification. I was amazed to see how interconnected all of the financial planning topics were. With this amazement came a sense of need, knowing that these are real areas where people struggle. I experienced firsthand my family and friends scratching their heads and guessing at how to allocate their portfolios, determining how much they’ll need to comfortably retire, or even recite the definition of a balance sheet. Personal Advisor Services® was my shot at helping the masses get their financial lives on track.
After spending two years working in sales, going toe-to-toe with the competition, I was headed to Personal Advisor Services®. Again, my peers and leadership team went right to work on helping me get up to speed on the new technology, investment methodology, and best practices of managing the relationships I would build as an advisor. Now, with a few years of giving advice under my belt, I couldn’t imagine doing this for any other firm!
Looking back at it all, I know I made the right decision. I never thought I could develop the relationships I have with my colleagues, leaders, and company in the way that I do now. It’s been five years since I first stepped foot on Vanguard’s campus and believe it or not, I still get that day one feeling.
And John Bogle and I are on a first name basis.
-Gary S.
If you’re seeking an environment where you can make a difference and develop professionally, learn about our careers in advice at www.vanguardjobs.com.
Vanguard Leadership Development Programs’ case club event
When I became a manager in Vanguard’s rotational Leadership Development Programs, I heard about a very special week in April called Leadership Week. After just a few weeks in my role, I started to receive intriguing invitations to events like Case Club, Inclusion, and a Fireside chat with our CEO Tim Buckley. Additional invites followed for teambuilding activities and fellowship, where I would get to meet and build relationships with all the participants across our development programs – Investment Management, Acceleration into Financial Professional, Emerging Leader, Technology Leadership, Financial Advisor, and MBA. To say I was excited was an understatement!
After I enthusiastically accepted all of the invitations, I received the wonderful news that I was chosen to be a Team Advisor for our day long Case Club event. I will admit, my first question was – what exactly is Case Club? Case Club is a day dedicated to defining and analyzing the problem of a chosen case. Crew from our leadership development programs work in teams to make creative recommendations for a particular case, and then present their findings to a panelist of tenured Vanguard leaders and our MBA program participants. Building relationships, tons of learning, team building AND a catered breakfast and lunch? Sign me up!
As a Team Advisor, I have to be honest – my team rocked! Renamed Team 1.06, for their extraordinary skill and speed during our teambuilding event, my team was compiled of crew from all three US Vanguard sites (PA, AZ, and NC) and multiple programs. Overall, I was impressed with the caliber of thought leadership and collaboration of all participants.
Lindsey G. shared her experience, “Diversity in all aspects is an asset for any company, and Case Club is an incredible example of how Vanguard values this mindset. With a variety of backgrounds, knowledge, and experiences, it was a true privilege to brainstorm in such a comprehensive way.” Claire B. echoed, “I especially appreciated the opportunity to work with and learn from my peers in the other specialty programs across all three of Vanguard’s US offices. The seven of us were able to tackle our business case from many angles because of our unique experiences and interests.” I couldn’t agree more with these participants! I was in awe to observe this exceptional group of crew build enriching and positive relationships, leverage their subject expertise with humility, and take a partnered team approach to the problem, all the while still able to challenge ideas and solutions.
As a Leadership Development Program manager, I especially appreciated seeing the level of participant confidence continue to build throughout the day as teams’ analyzed the case and built their final presentation. Kyle C. shared, “The highlight of the case study for me was walking out of the presentation and the team unanimously agreed that it went even better than we had practiced.” Verity F. added, “The opportunity to enhance our ability to present, appreciate, and respectfully debate ideas will be invaluable as we move forward with our careers at Vanguard.” David M. summed it up best, “Case club was definitely the highlight of my week!”
The entire development program leadership team strives to provide a positive learning environment where our crew can be constantly challenged through developmental and growth experiences while they navigate their career path within Vanguard. Matt J. shared his perspective, “As a member of the MBA Leadership Development program I had the opportunity to sit on a panel and listen to presentations from groups made up of all the Vanguard programs. It provided me an insightful opportunity to get into the brilliant minds of our crew. I had several “lightbulb” moments as they walked me through their thought process and decisions when solving specific challenges. I am grateful for the opportunity I had to participate, and look forward to sharing some of the new ways of thinking I observed with those that I work with every day.”
Lindsey G.’s final reflections are a true testament to Vanguard’s culture of building relationships, teamwork, and creative problem solving, “Sure, we will remember certain parts of the case, but I will never forget my extremely talented teammates and our ability to work together so well towards a common goal.” Way to go Case Club participants! It was an honor and a privilege to coach, support and lead our participants throughout the day.
-Lynda C.
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The brain of an engineer, the heart of an advisor
Growing up, toy blocks ruled my world. Spaceships, sky scrapers, submarines – you name it, I built it. So… it came as no surprise to Mom when I declared I wanted to be an architect when I grew up. It made a lot of sense why I would choose this profession. I was the kid who was passionately curious about everything. The kid who asked for tools as Christmas gifts. The kid who hooked up the VCR at age 4. I was also the kid who took all the screws out of the dining room table, resulting in us ordering takeout that night. I had the brain of an engineer, the soul of an artist, and a mother at her wits’ end. Fast forward to 2007. High school was in my rear view mirror and I was heading off to college to study the works of Frank Lloyd Wright, Zaha Hadid, and I. M. Pei. When grades were posted over winter break, Mom’s flashbacks of my childhood antics slowly dissipated after seeing a 3.6 GPA. I finished out the rest of my freshman year strong and had one of my designs featured in our school’s newspaper. Despite all of the hard work and long road ahead of me, I was feeling good about my decision to study architecture. In the fall of 2008, things started to feel different. Internship postings on our school’s career website began disappearing, newspaper headlines warned of troubling times in the housing market, and I could see an uneasiness in almost every adult I knew, including Mom. By the end of the year, the S&P 500 was down nearly 40%, the unemployment rate was on its way to doubling, and the world was in a panic.
My engineering mind needed to know what was happening and more importantly, WHY? I began reading financial websites, looking for answers. After asking almost every adult I knew “what’s going on?” I discovered that no one, other than those who had a hand in it, knew what was happening. When the market finally bottomed in March of 2009, the mystery was over. The subprime mortgage lending business, the securitization of risky bank products, and Wall Street’s greed led to the greatest recession of our modern world. It would take years for the economy and housing market to recover. My dream of becoming an architect was over.
In the fall of 2009, I did what every logical 19 year old would do after a global financial meltdown. I changed my major to finance. I wanted those around me to have a resource to lean on for financial help. After a few semesters, I learned about the world of personal finance and was again energized to make a difference. It wasn’t until a college professor assigned The Little Book of Common Sense Investing by John Bogle that I realized how murky the waters of financial planning were. Virtually anyone could market themselves as an investment advisor as long as they had a nice suit, firm handshake, and knew a joke to put your mind at ease. So what could I do about it?
Stay tuned for Part 2, where I share how I met the man who changed the investment world and inspired me to join Vanguard.
-Gary S.
If you’re seeking an environment where you can make a difference and develop professionally, learn about our careers at www.vanguardjobs.com.
Vanguard women break down investment acumen myths and perceptions
Vanguard’s crew resource group WILS (Women’s Initiative for Leadership Success) recently hosted a panel discussion with three female senior leaders in Investment Management to help breakdown investment acumen myths and misconceptions. In this blog, we recap the event and share how these discussions drive professional development and offer ways to improve this important skill-set. Three panelists take the stage, each representing a different area of focus in Vanguard’s Investment Management group: U.S. Equity Investment Risk Management, Global Rates and Fixed Income Strategy, and Product Planning. Each share their diverse career journey – some had long investment management careers outside Vanguard, others spent time on our Client Services teams or in rotational programs. But all three were anxious to help the women and men in the audience overcome their struggles with the often intimidating world of investment management.
First, it was imperative that the panel define what encompasses Investment Acumen – how does it differ for those focused squarely and deeply in Investment Management from those whose leadership interests are more general?
Seeking deep investment acumen
Two of the panelists expressed the importance of specialization in Investment Management. Their career advice for those who are pursuing this path is to go deep on what interests you most. Develop conviction and an opinion in that area, pursue courses and/or certifications that will increase your knowledge and expertise. They conveyed that specialization is a great way to distinguish yourself.
General investment knowledge
It is also important to have foundational investment acumen for anyone working in Financial Services and at Vanguard. Prior to her current role, one of the panelists had spent the majority of her career in leadership and strategy roles, where she had a strong focus on developing crew. This leader shared that she was keenly tuned in to her learning style. She knew that it was important for her to deepen her investment acumen, so she sought a role to close what she felt were some gaps in this area. She also reinforced the importance of knowing yourself, “I have an all-in learning style so I knew an immersive experience was right for me.” For others in similar situations, she encouraged the audience to think about what unique strengths you bring to the table. How might you lean into those as you’re learning and contributing to a new group?
Final thoughts
The panelists also shared their thoughts on how women in Investment Management can be perceived, and the unique challenges they have experienced in overcoming conscious and unconscious bias. The fact is that currently there are significantly fewer women than men in investment management. In everyday settings, women need to adopt strategies to make sure their diverse thoughts are heard. When any group of people is outnumbered, they tend to be heard less and more likely to get interrupted and dismissed.
These panelists advise us to keep swimming against the current. Seek to understand the dynamic of whatever group you’re in and develop a strategy for how you can fit in. It is important for each of us to be ourselves, while fitting into the environment as that self and on our own terms. A great foundation is to build your acumen and credentialize yourself as a valuable voice in the room. Everyone in the room was already doing that very thing – attending sessions like these builds acumen and strengths that enable crew to stand out.
Finally, the panelists recognized the opportunity each leader in investment management has to “represent women well.” Without diverse thinking, how can we meet the diverse needs of our clients?
-Janet M.
If you’re seeking an environment where you can make a difference and develop professionally, check out our career opportunities at www.vanguardjobs.com.
A different kind of investment
For context, I’m a software developer. We learn and utilize programming languages to create applications. With technology forever changing, it can be extremely hard to keep up – there’s a new Javascript framework just about every week. For Javascript users, that’s great, but it also means that there’s so much to learn and so little time to do it. Luckily, Vanguard helps me accelerate my learning through a variety of methods: Trying new things Some days, I get to act as a mad scientist – piecing together a Frankenstein-like application with new technologies and programming languages. What I’m creating may not always go into production, but the time and freedom to spend a few paid hours to get my feet wet on something new is a beautiful thing. It helps me learn and is just one of the ways Vanguard has invested in me! Virtual training Virtual training usually comes by way of a website. Most of these trainings aren’t free, and Vanguard acquires subscriptions for crew so we have the resources to keep learning. These trainings are helpful because more often than not in technology trying to learn a new programming language or Application Programming Interface (API) can be quite cryptic when text documents are all you have to go by. Personally having a video example has always helped me go the extra mile while learning. I gained the majority of my Angular, JavaScript, HTML and CSS knowledge through this avenue. Ironically, I learned web development on the web! I’ve gained a few soft skills this way too. E-learnings on things like persuasion and influence or project management serve me well when I combine them with in-person trainings. The data is always there to review when I feel I’m getting a bit rusty. 
At Vanguard, we do our best to live up to our mission of “taking a stand for all investors”. Between our carefully chosen products, services, and hard-working crew, our clients have the best chance for success with their investments! But during my time here, I’ve seen Vanguard support a different type of investing – investing in their crew. At Vanguard, you can be part of an environment that inspires continual learning–and not just with encouraging words. There is action behind those words!
For more physical interactions, Vanguard also brings in vendors who spend a few days with groups to teach a desired skill. The invitation for these trainings are spread far and wide. It’s similar to having a college professor and study group. The great thing about this is you’re given time during the week or throughout the day to participate in these trainings. You don’t have to stay an extra 40 hours to get your day-to-day duties complete, which helps maintain work/life balance.
Conferences
Another major opportunity I received with Vanguard is the chance to go to conferences. Our peers and leaders make sure our work is covered so we as employees have the opportunity to learn and grow during a fun experience.
Vanguard understands that educating and giving opportunities to employees helps us create the best products for our clients. Learning new skills also keeps crew engaged, which makes us want to do more for clients. I knew coming out of college that information technology was a glorious yet dangerous field to be in. This field is forever changing. So what is now desired in IT may not be in the next 2 years. Lucky for me, the resources and time that are required and desired for me to flourish in IT are easily accessible at Vanguard.
-Elijah A.
If you’re seeking an environment where you can make a difference and develop professionally, check out our opportunities at www.vanguardjobs.com.