More than 150 women bankers are expected to convene at the state's first Women in Banking Conference today, an event organizers say was designed to give women the tools they need to identify and earn leadership positions in the industry.
The first Women in Banking Conference, a daylong event held at the Marriott University Park Hotel in Salt Lake City, will not include information about "dressing for success" or how to achieve success in banking "as a woman," according to LeeAnne Linderman, a presenter at the conference and executive vice president at Zions Bank. Linderman proposed the event to the Utah Bankers Association, where she has a seat on the board. The UBA is the main organizer of the event.
"One of the things I get a great deal of enjoyment out of is spending time talking with young people in the industry — which I get to do both here at the bank and as a board member at the UBA," Linderman said. "I have the chance to talk to the young people coming up in the ranks, and I must say I'm amazed at how many young women don't consider certain disciplines within the banking industry as options for them for growth."
Women make up 75 percent of the financial services industry, mostly on the service side, according to the Financial Women International Foundation. So why aren't there more women in executive management and other leadership positions?
A 2005 FWI Foundation study found that in the 50 largest U.S. commercial banks, 12.6 percent of executive positions are held by females, with one bank having a female chief executive and seven banks having female chief financial officers.
Too often, women "self-select" out of certain banking opportunities, Linderman said, in fields like investments and commercial banking. They may be less likely to negotiate effectively or aggressively for opportunities in traditionally male-dominated jobs, typically those that have profit/loss responsibility.
But those are the jobs that lead to leadership opportunities, Linderman said.
"If women are self-selecting out of P&L (profit and loss) jobs, they may not realize that they're also limiting their opportunities down the road for the top jobs. So at the UBA we've decided to be proactive about planning for the future career growth of our industry," Linderman said. "And if 75 percent of our work force are women, we need to make sure that women understand that their supervisors aren't going to be selecting them out. Everyone's looking for the most qualified people, male or female."
Howard Headlee, UBA president, put the Utah percentage of women in the industry closer to 60 percent. However, he said, "As an industry we know that if we are to develop this critical and valuable resource, foresight and planning is critical. This conference provides both."
The event was designed for women who are looking for a long-term career in banking, Headlee said. Most of today's attendees were hand-selected by their respective financial institutions as top performers and leaders.
All, he said, will have the opportunity to "research the various opportunities to grow within the industry, develop their skills to be middle, senior and executive officers. This type of employee development for all segments is critical to the continued growth and success of our industry."
Information will come from local and national banking leaders and will cover topics as general as effective negotiating skills and as specific as what qualifications, experience and education are ideal for a career in the investments field.
In short, Linderman said, "In none of our sessions will you learn how to achieve success in the industry as a woman. They're about how you achieve success, period. They're about practical leadership skills."
This year's gathering is the first, but it will not be the last, Linderman said, indicating that the UBA plans to host the event on an ongoing basis.
"This is the future leadership of the industry," she said. "The board agreed that we need to recognize that and provide these educational opportunities on an ongoing basis."
E-mail: jnii@desnews.com