10.20.21
Member Voices: The Impact of Diversity, Part 1 – Q&A With Vanessa Wilson (BMO Wealth Management)
by: BISA Staff
October is Global Diversity Awareness Month. As calls for inclusion and diversity in the workplace resound across industries, it is important to understand why and how these efforts are imperative to the productivity and morale of employees.
We had the privilege to speak with Vanessa Wilson, who leads BISA’s Black Voices Unmuted initiative, about her perspectives on diversity, how to make an impact and her involvement in BISA. Vanessa is also the insurance product manager of BMO Wealth Management and has 25 years of experience in the financial services field.
1. Why is diversity so important in the workplace?
The world is changing quickly. In the financial services industry, people are accessing, spending and moving money in ways very different from even five years ago. Diversity in the workplace could allow a financial services company to see the trends and changes coming. This industry has the ability to be on the cutting edge of this change instead of being reactive as the world changes. Diversity leads to inclusivity. If you don’t see “yourself” in the room, you limit not only the opportunity to learn and the probability of your voice and perspective being heard.
2. What can it do for success in the financial industry?
Diversity shouldn’t be thought of as something to check the box or be politically correct. It should be thought of as a way to get diverse perspectives, experiences and ideas. If companies are willing to do the hard work of embracing differences of thought and culture, diversity will lead to education for both the corporation and their employees. Diversity opens the opportunity for effective learning, differences in thought, awareness of perceptions, expectations and corporate policies.
3. What do you think is one of the most important actions a company in the financial industry – or in general – can do in the next 12 months to foster a more diverse pipeline of candidates and increase diversity in their workforce altogether?
Recruiting and retaining people from underrepresented groups. Employ their identity-related knowledge and experiences as resources for learning how to reach a more diverse workforce and finally build trust by creating an environment where employees feel safe expressing themselves freely. Perhaps establish a mentorship program—pair a white executive with a minority employee instead of the normal white-to-white mentoring that you generally see. Doing so opens the door for them to mentor each other.
4. Is there a specific example of a success story to illuminate your recommended action?
Not yet, but my hopes are high.
5. Who or what has inspired you to volunteer for the D&I Committee/Black Voices Unmuted initiative in BISA? Board decisions are far removed from the day to day workers bottom line performance to identify opportunities for the average worker.
I have been in the financial industry for 25 years, and I have attended large industry meetings. The people in the rooms have barely changed; they are primarily white males. I volunteered for the D&I Committee/Black Voices Unmuted initiative in BISA because I felt it was time for me to lend my voice to the possibility of making a change.
Vanessa began her career in the financial serivces industry on the options exchange floor in Chicago, IL, where she worked for eight years before joining the insurance industry. She has been a member of the financial services industry for 25 years. In August of 2016, she joined BMO Wealth Management as the insurance & annutity product manager. She is responsible for the development of annuity and life insurance sales for BMO Harris Investment Serivces sales professionals and private wealth specialists across the U.S. She holds her Series 6, 63 registrations. Vanessa enjoys spending time with family and friends and is a huge fan of jazz, R&B and gospel. Vanessa has two adult sons and one grandson who recently turned 15 and plays violin with the MN Children's Orchestra.