“Diversity Must Match Local Demographics and Talent Pools”: Experts Opine

<p>The
Finance Magnates London Summit 2023 hosted a captivating panel discussion
titled "Growth Driving Leadership: Diversity, Resilience, and Ambidexterity,"
shedding light on the pivotal role of diversity and inclusion in fostering
resilience and innovation within the fintech sector.</p><p>Moderated
by Kate Shcheglova-Goldfinch, Consultant on Fintech Market and Regulatory
Platforms Development at EBRD / NBU , the panel featured insights from industry experts Oksana
Remez, the Senior Business Development Executive at Finalto, and Sophie Gerber, the Co-CEO/Director at TRAction Fintech.</p><p>Championing
Diversity</p><p>Remez
underscored the significance of diversity, advocating for a multitude of voices
and perspectives within organizations. She spotlighted Finalto's commitment to
diversity, leveraging talents from over 10 countries to foster cultural
understanding and language proficiency for enhanced business growth.</p><p>"I
wouldn't want to be hired simply because a company needed a white female on
their team. I'd prefer to be hired based on my skill set. That's my stance on
it. However, I strongly advocate for diversity and having a variety of people
within a company, especially for those operating globally. We aim to employ
individuals with diverse skill sets, backgrounds, and cultures. This diversity
brings a fresh perspective to our vision and enriches our company in numerous
ways," Remez commented.</p><p>Reflecting
on recruitment dynamics, both Remez and Gerber acknowledged historical gender
imbalances in <a href="https://www.financemagnates.com/tag/fintech/">fintech</a>
but emphasized hiring based on merit and complementary skills. Gerber, while
noting organic diversity's role in TRAction Fintech's growth, hinted at
potential structured HR initiatives for scalability.</p><p>The
panelists acknowledged the nuanced challenges of achieving diversity,
particularly in regions where certain demographics predominate. Gerber and
Remez highlighted the need for realism in recruitment strategies, recognizing
that diversity initiatives must align with local demographics and available
talent pools.</p><p>Gerber
commented: "<a href="https://www.financemagnates.com/tag/britain/">Britain</a>
and <a href="https://www.financemagnates.com/tag/australia/">Australia</a> are
diverse places, but you can't expect the same level of diversity when setting
up an office in <a href="https://www.financemagnates.com/tag/china/">China</a>.
There aren't many foreigners in China, so you have to be realistic about
seeking diversity of ethnicities there."</p><p>Navigating
Ambidextrous Leadership</p><p>Gerber,
during the panel, delved into the challenges of managing regulatory changes,
stressing the importance of ambidextrous leadership amid evolving transaction
reporting rules. She highlighted TRAction Fintech's adaptability in product
evolution.</p><p>Remez
stressed organizational dexterity, utilizing SWOT analysis to propel
Finalto's adaptation to market changes. Both speakers highlighted innovation and
customer feedback as catalysts for business evolution, fostering idea-sharing
within their respective companies. Additionally, Remez described how idea-sharing and
brainstorming occur organically within <a href="https://www.financemagnates.com/tag/finalto/">Finalto</a>, often after
expos or during management meetings. She also reflected on the uncertainty of
the future.</p><p>Resilience
amidst Change</p><p>Panelists
acknowledged the relentless pace of change in fintech, fueled by regulatory
reforms, technological advancements, and <a href="https://www.financemagnates.com/tag/market/">market</a> disruptions. They
stressed the need for businesses to remain agile and anticipate shifts
proactively.</p><p>With
operations across jurisdictions, robust operational frameworks and contingency
plans emerged as imperatives, especially during instances like office
relocations in <a href="https://www.financemagnates.com/tag/ukraine/">Ukraine</a>
and <a href="https://www.financemagnates.com/tag/israel/">Israel</a>.
Technological fortitude, including failover systems and <a href="https://www.financemagnates.com/tag/cybersecurity/">cybersecurity</a>
measures, was deemed critical for business continuity.</p><p>Leadership
and Strategic Priorities</p><p>Leadership
emerged as a cornerstone of resilience, emphasizing empowerment, recalibration
of responsibilities, and fostering adaptability. Mental resilience and empathy
were highlighted as essential in navigating personal and professional
challenges.</p><p>Looking
ahead, panelists outlined strategic priorities, including expansion
initiatives, exploration of new markets and services, and a continued focus on
innovation in the financial sector. Personal development goals, such as
continuous learning and holistic well-being, were underscored for navigating
professional growth and transformation.</p><p>The
panel discussion at the <a href="https://www.financemagnates.com/tag/fmls23/">Finance
Magnates London Summit 2023</a> encapsulated a nuanced understanding of
resilience as essential for navigating the complexities of today's business
landscape. From operational agility to technological fortitude and empathetic
leadership, the dialogue underscored adaptive strategies driving innovation
amidst uncertainty.</p><p>A Fraud Survey</p><p>We invite you to participate in our joint survey conducted
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This article was written by Tareq Sikder at www.financemagnates.com.