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Women in Banking Round-Table
WOMEN IN BANKING ROUND-TABLE: Four Arkansas Executives Share Their Perspectives
Mary Beth Brooks | President & CEO, The Bank of Fayetteville Mary Beth Brooks has had a career in banking that spans more than 26 years, including posts in Fort Smith, Little Rock, and Memphis. In addition to her service at The Bank of Fayetteville, she has taken an active role in the Northwest Arkansas Council, Fayetteville Public Schools Foundation, and Fayetteville Chamber of Commerce. Brooks has held the position of President & CEO since 2004.
Judy Lawton | Chief Financial Officer, Heartland Bank Judy Lawton has been in banking for 34 years, currently serving as CFO and COO for Heartland Bank, and President and CEO of Rock Service Company, LLC. Lawton has served on the Arkansas Tech University Foundation Board and currently serves on the Finance Committee and is Secretary/Treasurer of the Heartland Foundation. Judy was appointed as the Treasurer of the Arkansas Bankers Associated for 2014 to 2017.
Cathy Owen | Chairman, Eagle Bank As the Chairman of State Holding Company, which owns 99% of Eagle Bank, Cathy Owen is actively involved in the daily management of the financial institution. In 1986, she led the purchase of a second bank by the holding company, and in 2012 consolidated the two banks. Owen is a partner in H&M Realty and Hastings Holdings, and the Managing Partner of One Financial Centre and Markham West.
Susie Smith | EVP / Corp. Strategy & Performance, Simmons Bank Susie Smith has more than 27 years of banking experience with expertise in corporate leadership, customer-focused relationship management, merger integration, strategic planning, marketing and consumer strategy. Smith currently serves as board chair of Delta Dental of Arkansas, as a board member of Renaissance Health Service Corporation (Lansing, MI), and president of the Downtown Little Rock Partnership.
What were your career goals when you first entered the workforce? How has that changed over time? MB My early goal (from what I remember!) was to learn skills and add value to the bank. I think it was ingrained in me as a child to treat each job like I was going to do that job the rest of my life, so I was intent on learning something from someone every single day. Although it likely drove some of my co-workers crazy along the way, I was always asking questions and seeking increased responsibilities and challenges. How has that changed over time? ...This is an especially appropriate question as I approach a career change after almost 30 years in banking. “The purpose in life is a life of purpose” is my motto. Who knows what’s next! JL I planned on spending my career in public accounting. When I moved for personal reasons, there were no public accounting positions but I was able to find a position utilizing my accounting background in banking as the Internal Auditor/Compliance Officer for the bank. From there, I moved up to Controller and then to Chief Financial Officer and then in addition to the Chief Financial Officer, I added the role of Chief Operations Officer. Also, I was recently
involved in the formation of Rock Service Corporation, which is a subsidiary of the Rock Bancshares, Inc., and for which I serve as the President and CEO. The subsidiary is a nationwide consulting firm specializing in Technology, Compliance, and Accounting services. CO I began working in banking in 1974 at the age of 16, as a summertime job, with no intentions of making banking my career. At that point I just wanted to prove my worth and to do a good job. By the end of that first summer, I was hooked on banking. I continued to work summers and holidays, learning many different positions as I filled in for whoever was on vacation. My inspiration was Betty Wilkinson, who was President of the Bank of Greenwood and sat on the Arkansas State Bank Department Board. She was the only highly positioned female banker I was familiar with at the time. My goal was to rise up through the ranks and to be a leader in banking. SS My professional career began in public accounting, and I did not have a specific career road map in mind. I did know that the CPA certification and training would lead to a variety of business opportunities. I wanted to be financially stable and to be in a position where I loved my job, respected and enjoyed the team I worked with and wanted to be intellectually challenged. Those goals are still true today.
How do you maintain a work/life balance? MB Not always well! My husband and I juggle the responsibilities the best we can. About 12 years ago, I was working so much that I went five days without seeing my one-year-old awake. After overcoming the complete working mom guilt, I realized that my priorities had to change immediately. I learned that to have a long, healthy, productive and happy life and career, you need to understand the value of pace. There are times when you need to throttle up and there are times when you can throttle down. Self-awareness is crucial. Doing this has helped me enjoy the journey as much as the destination. JL This can be a challenge for many people, including myself. I’ve learned to work hard through the week and use good time management skills. I’m always putting in extra hours to make sure I can enjoy my personal time on weekends with as little stress as possible. I was a single mom working in this business, and I’ve learned the importance of managing my personal time while also providing an example of strong work ethics to my son. CO Although maintaining a work/life balance has gotten much easier since my children are grown, it is still a constant challenge, and would not be possible without an extremely supportive husband and family. SS It is very difficult to do in this age of digital technology when you are available 24/7. You have to turn off the email and phone and respect your private time — both the time for yourself and time for your family. Now that our kids are grown, it is easier to find time to read a book and relax!
What is the most important lesson you’ve learned in your career to date? MB Here are some of my favorites: Embrace change. EMPOWER mid-level managers — let them make big decisions and then back them up when they make mistakes. They are the future of the bank! Address problems straight on and don’t always avoid confrontation. Share with your entire team...the good, the bad and the ugly. Commend in public/reprimand in private. When frustrated or angry, sleep on big decisions before responding. Learn from your mistakes and from others’ mistakes. Learn as much from bad managers as from good ones (emulate the good ones and never forget how the bad ones make people feel). Train/Cross-Train/Mentor — Take the time to educate your team; assign unexpected people to committees; encourage people to work in all areas of the bank to develop a broader knowledge; explain (even when you don’t have time) decisions in order to educate the future leaders; encourage job rotation to improve understanding; request and actually
act upon feedback from partners at all levels. The paybacks are remarkable. I am still learning lessons every day! JL Be willing to accept and adapt to change, and make the most out of whatever exists in the current banking environment. Also, early on in my career I was told that it was alright to make mistakes just don’t make the same one twice. CO I have learned many lessons throughout my career, making it difficult to name only one. Below are several of my most important and useful lessons: Build a strong network of professional peers, mentors, and staff. It is very important to surround yourself with a strong team of people. Although not absolutely necessary, it is most helpful to include other successful women within this network, who can serve as trusted sounding boards and advisors. It is also important to listen to them. Don’t speak just to be saying something. Make your words count. Use slight edges. SS Maya Angelou once said, “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” I can’t think of a better quote to inspire our daily lives and careers. What advice can you offer to women just starting out in banking? MB Learn every aspect of the bank to give you a well-rounded perspective. Make it a goal to serve in all roles from operations to finance to lending. This will give you a much better perspective on how the bank functions, makes money and serves customers. What an amazing career it has been for me! JL Early on, decide where you want your career to lead you and decide what commitments and education it will take to get you there. And then do it. Understand
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that along the way your priorities may change and that is okay. Be willing to change with them. CO Most of my advice for women is the same as it is for men. Arrive early and be willing to work late. Offer to help others. Volunteer. Listen to those with experience. Dress professional. Be courteous and respectful. Humbly take credit for your work, and accept praise. Apply for higher ranking positions. Share with your supervisor and the HR department your interest in growing your career. Then, be prepared to work twice as hard as a man to earn your position in banking. A favorite quote of one of my female peers is “act like a lady, think like a man, and work like a dog.” SS Be curious and open minded, have the courage to make mistakes and learn from them, be willing to persevere and always remember to do what is right, not what is easy.
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