CIO Insights - Ian Aguilar

I had the pleasure of talking with Ian Aguilar today to discuss his journey to becoming an IT leader. Ian Aguilar is the CIO of M Financial Group, one of the leading companies in wealth management. Ian’s expansive career allowed him to witness the evolving technology industry and its impact on the financial sector.

Jack Welch, "Accept reality for what it is, not what you want it to be."

Jashan Dhami: And we can just start off with a quick introduction about yourself and your journey to where you are right now.

Ian: Absolutely. I am with a wealth management firm where we focus on insurance and traditional kinds of securities products. I've been in this industry for about 25-30 years, and my career started with doing point-of-sale systems for two years before going to business school. After completing my MBA and a master's in technology, I entered the financial services sector in 1996. Since then, I have been primarily involved in various roles related to technology. I took on my first Chief Technology Officer role about ten years ago, and most recently, we changed my current position eight months ago.

Jashan Dhami: So what gravitated you towards the intersection of finance and technology?

Ian: Interestingly, it was accidental. I went to school for a business degree, but I naturally had an inclination for technology and problem-solving. I also had a curiosity about what was new. I was offered an opportunity to pursue a master's in management of information systems, which I did under a full scholarship at Boston University. The timing was great as the technology market was becoming hot. As for entering financial services, it was a result of the location of my school and the placement opportunities available in Boston. Since then, I have stayed in this field and never deviated from it.

Jashan Dhami: As you've been in this role for many years, how do you envision the CIO/CTO role evolving?

Ian: In my experience, I've learned that technology is all about people. This understanding hasn't changed, but the way technology is available, and the opportunities it brings have evolved. It's still about people, but it now involves understanding the people aspect beyond internal users. It's about understanding clients, investors, and the impact of technology on the business side. Moving forward, successful CIOs and CTOs need to have a better business mindset in addition to their technological expertise to make a meaningful impact at the C-suite level.

Jashan Dhami: So, how do you cultivate that kind of culture where people are innovating while keeping that overall picture in mind, especially when everyone else around you is focused on gaining that kind of innovation and new technology? How do you maintain that culture in your organization?

Ian: Well, innovation is all about engagement and risk-taking. It's not just about technology; it's about people wanting to do things better. Technology tools have provided us with more opportunities, but we need to set the right behaviors. We need to define what business problems we want to solve and what opportunities we want to tap into. We also need to have some exploratory elements to our approach. It's about establishing a vision of how we want to be more creative and successful in this space and working backward to align everyone and elicit the desired behaviors.

Jashan Dhami: As a CTO, change management is a big part of your role. What has been the biggest obstacle you've faced when implementing changes to increase efficiency within the organization?

Ian: When I hear change management, I think about day-to-day changes in technology. It's interesting because technology is about people and the ongoing changes in culture. As CTO, we not only need to understand the business and clients but also the culture. We can drive aspects of culture through innovation, risk-taking, and doing things differently. However, we need to have ongoing dialogues and set the tone that it's okay to take risks and explore new approaches. At the same time, we must ensure that our decisions are within the right risk tolerance and have measured risks. It's about asking the right questions and owning the consequences. Driving change is ultimately about people, not just technology changes.

Jashan Dhami: When it comes to the people you surround yourself with, what kind of skills or traits are you looking for in your team?

Ian: I actually focus more on traits rather than specific skills. Skills can be learned and acquired over time, but traits are more fundamental. The traits I look for in people are judgment and character. If someone has those traits and the ability to learn, we can accomplish what we need. However, if someone has the ability to learn but lacks good judgment or character, it might not be the right fit. So, traits like judgment and character are key for me when building a team.

Jashan Dhami: What traits or qualities have you found to be most successful in yourself as a CIO, making you successful in your role?

Ian: For myself, the traits that have been most successful are character, judgment, inquisitiveness, and being open to risk. I used to be risk-averse, but I had to go through a mental shift and become more comfortable with risk-taking. Being comfortable with ambiguity, making the right decisions, and having conviction in the chosen direction are also crucial. These leadership traits allow me to rally and align others to move forward. These traits are applicable across various industries, although core technology knowledge and skills are also necessary.

Jashan Dhami: Now, talking about integrating new innovations like AI into your organization and industry, how have you approached that?

Ian: It's interesting because we don't have a dedicated R&D space for technology. Instead, we create space for innovation testing and drive dialogues not just with technology counterparts but also with other areas of the organization. I'm currently focusing on establishing recurring meetings to facilitate these dialogues and shape tangible opportunities. It's about being comfortable with disruption and driving opportunities aligned with the business problems we want to solve. It requires an open mind because sometimes the best opportunities come from unexpected places. It's an ongoing balancing act in the day-to-day operations.

Jashan Dhami: Throughout your experience in the industry, you have witnessed the rise and fall of various technologies. What have you learned from these experiences, and what do you think will truly endure in the industry?

Ian: The pace of change and the dimensions of change are only going to increase in the future. It's important to be comfortable with change because if you're resistant to it, you're in the wrong place. Additionally, change impacts people, and understanding the human aspect of technology is crucial. You need to be aware of the small changes that create sideways movements as well as forward movements. Managing and leveraging those changes is essential.

Jashan Dhami: In your organization, how does working with the Chief Information Security Officer (CISO) and the evolving cybersecurity department influence your decision-making and implementation of new technologies?

Ian: Security is integrated into the process and design of technology solutions. It's not just an add-on or a separate department. Building security into processes and systems is important, especially in industries like ours where protecting records and ensuring data security is vital. We prioritize security by design and ensure that we mitigate risks associated with new technologies or changes.

Conclusion:

Ian Aguilar has given a deeper look into the role of technology leader, as his perspective spans multiple decades of the technology landscape. Throughout our conversation, Ian emphasized how his role will always involve people regardless of how much technology changes. With new technology, such as AI, he believes ongoing dialogues, open-mindedness, and organizational disruption are essential for success. Ian has perfected his communication and collaboration skills to propel his organization to be better equipped for new technologies. Ian Aguilar‘s ability to balance technological expertise, business acumen, and a people-centric approach is vital for organizations striving to thrive in the digital age.