On embracing ambiguity: An interview with Lisa Turnbull

Lisa, what are the most impactful leadership skills you use?

Early in my career, I recognised the importance of getting a good grounding and mastering the technical skills of whatever discipline you decide to specialise in.? For me, this was finance and accounting.? I think it’s important that as a leader you have an appreciation of the hands-on tasks of the team – it earns their respect that you can understand their challenges and know their worth.? While it’s not necessary to be the most proficient individual in the team, having a grasp of their challenges and contributions is crucial for effective leadership.? I rely heavily on my team for their specific expertise – but you do need to have the ability to understand to a level.? This will only take you so far, though.??

The most impactful leadership lies in the ability to bring the team together, leveraging their individual strengths to achieve collective success.?

This requires an interest in people to understand their strengths, how they like to work, fostering an environment where diverse perspectives are valued, and sometimes mediating to get the right consensus.? So, I think the most impactful thing that has been vital in my success is learning to listen, communicate well and create environments that great people like to be part of.

Share why a diverse workforce is important to your success.

Ultimately, it’s about getting the best candidates, and we make sure we do not consciously or unconsciously limit our selection process to ensure that we get access to the best candidates.?

Tech lends itself to ethnic diversity and we celebrate this.? I love hearing the different languages in the tearoom, and it brings exposure to different views, perspectives and cultures. This broadens our thinking and accelerates innovation.

The biggest challenge is the imbalance of senior women versus men.? This prevails across the industry and is also the main cause of the gender pay gap in our organisation.? We are actively focused on this with both external hires and internal promotions. We are committed to ensuring that our selection processes remain unbiased while still staying focused on merit being the primary consideration in hiring decisions. We have a constant awareness of it, and equal pay for the same role and skillset is a fundamental principle we uphold, striving for fairness across the board.?

Promoting flexible working environments to accommodate diversity, including keeping women in the workplace to reach senior roles, also helps hugely.? We have a view that good people will always give more than they take in these situations.? It works well for us.

Why is NZX Wealth Technologies partnering with Powrsuit??

I’ve followed Powrsuit since its formation and I think it’s a great initiative for females to share and learn from each other on how they are traversing their careers.?

My experience tells me that whilst we always think our individual challenges and struggles are unique to us, many people have the same experiences. The power of connecting and sharing with others provides a real opportunity to learn and move forward.?

Also, the financial services industry has seen massive male dominance over many years, and it’s great to see networks where women can join and not feel like the minority.? It’s a refreshing change. Having a female role model is important to inspire future female leaders, and I am excited about supporting this initiative.

Can you recall a specific moment or experience that shaped your leadership style?

A couple of things come to mind strongly:

I remember a light bulb moment earlyish in my career that I often replay in my head to catch myself when I am not listening properly.? Someone told me it’s important to put yourself in the mind of the person who has an opposing view to you. Rather than just repeating your position take the time to really listen and properly understand why they are holding their view.? Then, if your view is still unchanged you can come from a place of real understanding of their position and approach the discussion with empathy and insight when trying to get them to understand (if not agree with) your view.? It fosters a culture of mutual respect and opens the door for others to comprehend, if not necessarily agree with your viewpoint. Being able to communicate well, negotiate and influence so that the whole team has a common goal is so important to achieving results.?

The second significant influencer on my journey is the adversities I’ve encountered, both in my professional and personal life.

These challenges have helped me to let go of the fear of the unknown and embrace the ambiguities of life. These experiences have also taught me to be authentic and trust that being myself is the best way to show up.

I guess with the benefit of hindsight I do rely on my common sense and gut a lot.? If it doesn’t feel right, there is probably something wrong, and I’ll dig deeper.? Being honest and authentic tends to attract the right people around you, and as a good team, you can get some great stuff done.

What advice would you give to women feeling a bit stuck in their careers??

It’s not uncommon to go through periods of feeling stuck.? My advice would be to make yourself a plan.? Give yourself some time to achieve the plan with little milestones along the way to tick off, and you’ll feel good that you are actually taking some action.? Make a list of the parts of your role that you love and work out how you can leverage more of this.? Have an outward and curious mindset and join some groups (like Powrsuit) to get some good contacts and new ideas.? Also, don’t be scared to take a risk.? I think it’s valuable to get broad experience and, like they say, treat your career as a jungle gym, not a ladder.? Sometimes a sideways step to try a new discipline or working with a new group of people pays dividends.? I did spend a long time in a large single organisation but I was lucky that it was large and diverse such that I could always change roles, meet new people and learn new things.?

Looking back, I should have focused more on networking outwards to get a broader industry perspective – so I’d recommend doing that to those starting their career.

Lisa Turnbull, CEO, NZX Wealth Technologies

Lisa has more than 30 years of experience in the financial services industry, covering auditing, investment, insurance and banking.??

?She is a Chartered Accountant starting her career with PWC.? From there she moved to the ASB and Sovereign Group holding leadership roles across finance, investments, risk management, strategy and operations.??

Lisa joined NZX Wealth Technologies (NZXWT) as CEO in November 2016, growing a team from 25 to 80 people, who, over the course of eight years, have built what is currently the fastest-growing WRAP platform in the New Zealand market. During this time, NZXWT has grown its Funds Under Administration from $1.2b to $13.8b, with 23 clients now operating successfully on what is largely recognised as the most functionally rich and modern platform available in New Zealand. A key part of the business’ success is due to the collaborative nature of the partnerships that NZXWT offers through its people and technology – as such, NZXWT is fast becoming a core part of the New Zealand financial market’s infrastructure.?

As a respected and inspirational leader, Lisa brings a collaborative leadership style and excels in creating high-performing teams that support and complement each other’s strengths.