Issue 95 She has been the CEO and managing director of STM Malta Pension Services Ltd for the past seven years. The company operates in the financial services industry and provides pensions products to local and international clients. It is registered as a retirement scheme administrator with the Malta Financial Services Authority and is also authorised to act as trustee or co-trustee to provide fiduciary services in terms of the Trusts and Trustees Act. STM Malta is part of STM Group plc, which is an independent firm listed on the London Stock Exchange. The company offers both personal pensions and occupational pensions. Also with other external stakeholders, Schembri was instrumental in shaping and growing the pensions industry in Malta both for local and international clients. She is, in fact, the chairperson of the Malta Association of Retirement Scheme Practitioners. Schembri placed runner up in the first edition of the Malta Businesswoman of the Year Award in 2019 and feels truly honoured and "very much pleased" to be the winner of the 2020 edition. "The Malta Businesswoman of the Year Awards are designed to help promote and recognise women who have achieved significant success in business and serve as an inspiration and encouragement for other women. The awards aim to accelerate the journey towards gender equality within the private sectors," she says. "Having been independently judged to be exceptional, not only in the core business activities but in illustrating my achievements and communicating to those not directly involved in my industry is a great achievement. Through such an award, one would have also won acclaim, admiration and respect." Schembri won for her key role in structuring and growing STM Malta Pension Services Limited into a major global pensions provider. "As a managing director and CEO, I am responsible for the performance of the company as dictated by the board's overall strategy. The responsibility for growing
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a business, creating jobs and providing shareholder return while making a difference to society can be incredibly satisfying," Schembri says. "Under my direction, the company registered exceptional growth and performance results. Today we have around 8,000 clients with an approximate annual revenue of €9 million and 50 employees. When I joined STMM, the company had only a few hundreds in clients and less than 20 employees," she further notes. Schembri admits that becoming a CEO takes hard work and dedication. "Effective leadership is the most important aspect of a company and its team's success," she says and mentions many other important drivers, such as strong communication skills, effective coaching and building relationships (see sidebox). She also highlights four key attributes which she believes to be essential for women to succeed in corporate level roles: • Empathy: a skill that not everyone has, according to Schembri, but women are known to be more empathetic than men. • Determination: she says that women in business often have a real determination to succeed because they are powered by their mission and purpose in life. • Ambition: even though not everyone has ambition, she believes women in business tend to be very ambitious in taking the necessary next steps to turn their goals into reality. • Work ethic: Schembri says that most businesswomen are known for their great work ethic and "they won't stop working until the job is done". She also believes that it is imperative for women to strike the right work-life balance to be able to continue moving up the career ladder and gives some tips that include prioritising one's time, knowing your peaks and troughs, being realistic, doing what you love other than work and playing to your strengths. Schembri hopes that through her work and award, she will inspire women to achieve their goals but also to have the opportunity to mentor fellow colleagues. "Mentoring others is important and very much effective," she concludes.
DEBORAH'S TOP 10 TIPS 1. Ability to learn from the past A CEO must have the ability to learn from past experiences and instill lessons for the future. CEOs are only human. 2. Strong communication skills As a leader, a CEO needs strong communication skills. Communication is key in any setting, and as someone in charge, a CEO must learn how to communicate effectively to boost morale when necessary. 3. Building relationships A CEO must have the ability to build relationships. Relationships create loyalty and an image for the CEO and the company. 4. Realistic optimism It's important for a CEO to be confident but not arrogant about their skills and what they offer their employees. 6. Listening and understanding skills A CEO must be understanding of matters in and out of the workplace. A good CEO must have the ability to listen attentively. 7. Willingness to take calculated risks. Great, and sometimes unforeseen opportunities often come from taking risks. 8. Reading people and adapting to necessary management styles One of the greatest traits a CEO can have is the ability to read people and adapt management styles accordingly. 9. Coaching employees effectively As the head of a company, you are creating a healthy and collaborative work environment. 10. Thinking outside the box While it may seem like an obvious fact, the market changes with the times. It's important to think outside the box because sometimes there are better ways to achieve business goals.