Broker in business: Yasmine Shah

More than 1200 women and 30 industry partners including lenders and fintech companies make up the Women in Commercial Finance Forum. Here, we meet the forum’s founder, and owner of boutique financial brokerage Ethical Finance, Yasmine Shah, to talk about what drives her.

Sydney-based Yasmine Shah started in the finance industry some 17 years ago, working her way up from the bottom. First in a mortgage call centre, then as a credit analyst, then mortgage broker, before moving into fintech as a BDM and various strategic partnership management roles. Throughout her career, Yasmine identified a need to connect with and support women in her industry and founded the Women’s Commercial Finance Forum (WCFF) in early 2020. In just three years, the forum has grown to include 1200 members and 30 industry partners including banks, non-banks and fintech organisations.

“As a female BDM and ex-broker at the time, I noticed that women like me were few and far between,” recalls Yasmine, “and I knew how elated I became when I saw other women who shared my passion for commercial finance, business and fellow entrepreneurs. We wanted to help each other by having a brains trust of thoughts, ideas and strategies we could share with one another.”

Yasmine says women experience particular challenges in the commercial finance industry, including dealing with discrimination, sexism, and gender bias from potential clients, lenders, and even colleagues. Women in this sector also often report that they struggle to access the same opportunities and resources as their male counterparts which they say limits their growth and success.

“The commercial finance industry can be complex and challenging to navigate,” offers Yasmine. “Women must manage compliance, timelines, lenders, and clients, as well as a fast-moving suite of stakeholders. This workload is often heavy and time-intensive, leading to stress and feelings of isolation and loneliness.”

The WCFF came together in a Facebook group in February 2020, and quickly grew from there. Three years on, Yasmine describes the forum as a strong and mighty community of likeminded and inspired women who actively seek out and support one another.

This year, the WCFF appointed three women to the forum’s Board alongside Yasmine; Ulrika Lobo, Sonja Pfitz and Sarah Wells who combined have decades of relevant experience in strategy, pedagogy, advocacy, operations and marketing. This was a critical step to ensure the WCFF’s sustainability and ability to meet its bold future plan for its members.

“Before the WCFF came along, many women in the commercial finance sector were not readily attending events and PD days and if they did, they did not feel empowered or engaged because they seldom saw other women being celebrated in this space,” offers Yasmine. “The success of WCFF summits over the last year is a testament to the progress made to date for women in this sector. More women in commercial finance attend events and PD days and have a desire to connect with their peers and network with other professionals in the industry to learn more about pathways and services available to help them excel in this sector – a win-win for women and for our industry.”

Looking to the next 12 months, WCFF will continue to grow, supporting more women in commercial finance to learn key commercial skills, leverage their networks and grow their businesses, careers or practices. As a part of this, the WCFF will launch an industry-first coaching program and introduce unique opportunities for men and women to make an impact supporting women in commercial finance. The WCFF will offer upskilling webinars for women at various stages of their commercial finance careers, and boost networking opportunities with online events. The WCFF also focuses on advocacy for women in commercial finance through the guidance and support of women-focused initiatives across the country.

Aligning with WCFF’s mission, Yasmine is also involved with FBAA’s new industry initiative, The Artemis Space. The Artemis Space focuses on delivering education, advocacy and awareness, transforming constructive discussions into practical change, whilst wholeheartedly supporting women/ womxn to connect, grow and succeed with excellence within the finance industry.

Earlier this year, Yasmine founded a niche business, which focuses on harnessing impact and building long-term financial sustainability with finance. “Ethical Finance Australia is a movement of #impactbrokers,” shares Yasmine. “We offer all consumer and commercial finance services and partner with insurance and wealth creation organisations to support our clients to achieve their impact and legacy goals, whilst staying true to their own values and beliefs.”

To operate Ethical Finance Australia, Yasmine has partnered with Michelle Moncada who has over 20 years’ experience in the finance broking industry, and Mariana Chahine who has over 17 years’ experience in banking and financial services.

“We are a formidable team. Michelle looks after our operations, compliance and partnerships, Mariana focuses on our customer acquisition and onboarding and I focus on commercial and asset finance.”

Yasmine’s work with WCFF, The Artemis Space and Ethical Finance Australia all align to the values she lives and breathes by: bringing people together, doing the right thing, being responsible and sustainable and leaving people and places better and thus creating impact.

“During my 17-year career journey in the financial services industry, I’ve faced many obstacles, from closed doors to brick walls to glass ceilings. However, I’ve come to wear the bumps and bruises from those challenges as badges of wisdom,” shares Yasmine.

“In difficult times, it’s crucial to have good people around you. With over 18,000 men and women brokers in our industry, we have the power to create a more aligned, sustainable, and empowering industry for each other to thrive in,” she says.

“I have made a conscious decision to partner with likeminded women in my businesses because I have learned that going fast and alone is not inspiring and void of joy. In order to achieve true impact, we must go together and enjoy the tremendous rewards of our collective success.”

Learn more at www.womenscommercial.finance