Inspirational Woman: Isabel Fernandez, EVP Lending at Finastra

After a long career in financial services, mostly running businesses for banks and non-bank financial institutions, Isabel Fernandaz joined Finastra to head Lending, Finastra’s largest Business Unit, with 3,500 clients and 1,700 people, of which 600 are software engineers.

Did you ever sit down and plan your career in financial services?

No. I studied law out of interest in resolving issues among people and/or companies. When I decided I did not want to be a lawyer for the rest of my life, I had to re-imagine what skill set I wanted to develop. That’s how I got into financial services. Then, I once again re-imagined my career to join a financial technology company.

What challenges have you faced in your career? 

I have worked in different countries, cultures and businesses. I was often one of only a handful of women in the executive teams and most always a foreigner. I have become quite accustomed to being “the odd one out”! I was adamant about staying true to myself and authentic. That is easier to do today than, say, 10-15 years ago.

What has been your biggest achievement?

I am most proud of the people I have developed in my career. I am a huge believer in paying it forward, both personally, but certainly also professionally. Seeing people achieve things they never imagined they could is priceless. I could not be prouder if people achieve more than I ever did.

What’s the major factor in achieving success?

I am convinced there is no specific formula and success is in the eye of the beholder. I have never cared much about what other people think, but always made my own decisions. For me, what’s worked is being focused on the here and now, developing relationships with my peers and seeing the opportunities that come along and grabbing them. As a leader, I have always taken what I call ‘calculated risks’ on people, while in strategic matters I have acted with conviction. I have also not been afraid of making mistakes.

There is also, of course, a lot of luck: do you happen to be in the right place at the right time?

How do you feel about mentoring?

Mentoring has tremendous value for people, particularly earlier in their career, and I have done a lot of mentoring over the years. At a later stage in people’s careers, we tend to speak about coaching, which is about allowing a leader to come to their own decisions rather than advising them what their options are or how they could think. Finally, there is the concept of sponsoring, which is what you do or say when a person is not in the room. I have done all three over the years.

How do we accelerate the pace of change for gender? 

Leaders need to take active risks on talented female leaders and put them into positions where they can make a difference. Fortunately or unfortunately, you need a little limelight for people to be noticed, particularly in larger organisations. I have encountered many women whose performance was stellar year-after-year, yet they never got the chance to shine because they were someone’s right-hand person or buried somewhere in the organisation.

What advice would you give to your younger self? 

Take even more risks with your career. The worst that can happen is that something does not work out. I would probably tell myself to take the step into technology sooner, although that is easy to say. The world is a wonderful place, it tends to reward those who are curious and take initiative.

What are you hoping to achieve in the future? 

I am deeply committed to changing the world of financial services for the better and I am in a fabulous company with a brilliant set of values and a real mission, namely to become the number one open platform for innovation in financial services. I am privileged to carry out this mission while working with extraordinarily talented people. Our growth is enormous and every day we strive to be better, faster and simpler.