We sat down for a conversation with Swati Bani, a member among the board of directors of the Foundation for Shared Impact, about her illustrious career, her insights on the trajectory of women in finance, and her fulfilling experience as the mentor of women.
Where are you originally from? How and when did you come to Hong Kong?
I am from India and have spent a majority of my early life there. However, having worked in multiple companies, I have had the chance to live in global cities such as London and Singapore, before I moved to Hong Kong in 2017.
I understand that you are a senior finance professional. Can you tell me more about what your work entails?
I have worked in financial services for more than 20 years now. Over these years, I have developed a diverse profile, leading teams in operations, business strategy, risk management, business transformation, product development, and business management. Working across client segments and from different locations has helped me build a well-rounded experience. Currently, I am heading the Software Solutions business in the Asia-Pacific region for State Street.
How did you hear about Foundation for Shared Impact? How did that lead to your current role as a board member at FSI?
I was introduced to Foundation for Shared Impact (FSI) through the Community Connections Program, where I met Jon Pedersen, who is one of FSI’s co-founders. I saw what they were doing at FSI, and after considering the value that the organization adds to the social impact space, I decided to play a more active role and joined the board as an independent director. What interested me was their unique model that combines the heart of NGO world with efficiency and scalability of private sector to alleviate large social problems.
At FSI, we help people who help people and we do that by playing different roles like educators, inventors, founders, students, business leaders and community members.
What can be done to create more diverse and inclusive, and healthier workplaces?
In all the international companies that I’ve worked with, I see the realization and intent of improving diversity and inclusion. This is certainly the common consensus. However, there’s still a long way to go. In my opinion, there are a few things we can begin with. Being a Six-Sigma Black Belt, I truly believe in the power of data, which brings me to my first suggestion. Companies need to be more transparent with their diversity data. Access to this data will allow us to analyze problems and come up with unique, customized solutions for each company that are in tune with the local culture.
Next, we need to hold leaders accountable. Just as we hold our board of directors and top management accountable for driving profitability, we must hold them accountable for driving the diversity agenda too.
Lastly, we need an upgrade from mentorship to sponsorship. Advocacy has a deeper impact than mentorship, which is more advisory in nature.
How would you describe your experience as the mentor of the women on the FSI team, providing them with invaluable advice?
I’d say the experience has certainly been very fulfilling. I would not have reached where I am today without the support and mentorship of others, which includes many strong women. Acknowledging this motivated me to don the hat of a mentor. I asked myself, “Looking back, what kind of support did I need? How did I receive it? And how can I extend the same support to others?”
As a mentor, I aim to help my mentees with workplace-related issues, as well as personal problems. With a mentor, everyone gets an outlet where they can discuss problems and get a different perspective on certain issues. Having conducted several mentoring sessions, I have noticed that my mentees’ problems are often similar to mine, but their perspective is quite different from that of mine. That’s what makes it fulfilling. I am introduced to myriad ways of looking at the same problem.
If you could give a piece of advice to young women in the finance industry, what would it be?
I have seen that women naturally veer towards supporting roles, such as HR or administration and tend to shy away from the roles that will progress them to leadership positions like business head.
My advice would be:
It is good to be ambitious.
Prepare yourself to take challenging and high impact-creating positions and propel you career towards the higher leadership positions.
What is the best piece of advice you have received, whether it be career related or personal?
Rather than an advice, I would like to share the one principle that has guided my professional career. Murphy’s Law says, “Anything that can go wrong will go wrong.” The way I approach Murphy’s Law is examining what I can do to avoid problems or issues and planning thoroughly. I try not to leave things to destiny to unfold on their own. The key to success is minimizing the risk of going wrong.
Let me elaborate with an example. If I want something done for me, I share my expectations, instructions, and information with absolute clarity. Additionally, I ask them what they will need from me in order to complete the task. I go the extra mile to ensure we are on the same page, thereby reducing the chances of things going south.
When you are not working, what are you doing?
Hong Kong is teeming with scenic trails, and I love exploring each of them. I like hitting the beach too. When I am not outdoors, I like to keep myself updated by reading and catching up with the developments in financial services. Baking and trying out new dishes with my nine-year-old son is also something I look forward to, along with catching up all the latest movies with him.
Acknowledgement: This interview was conducted and written by Samiya Sainur, an Impact Lab intern of the FSI Communications and Marketing team.
