Balance in leadership redefined
The five female directors in Conyers’ re/insurance practice speak to their diverse experiences and the balancing act behind leading a world-renowned, Tier 1 practice.
Conyers is a renowned law firm that has consistently maintained its position as a market leader in Bermuda and the offshore world. The firm has made significant progress in promoting diversity and inclusion including in leadership. Notably, Conyers’ Tier 1 Re/Insurance Practice is now predominantly led by women, with five female directors at its helm.
As part of Women in Hamilton, Bermuda:Re+ILS talked to them about their varied backgrounds and experience, and life as women at the top of their profession.
It is noteworthy that you have five female directors in the insurance and re/insurance department at Conyers.
Was this a deliberate strategy or has it occurred more by happenstance?
Sophia Greaves: While we have been intentional in terms of increasing opportunities for access and the promotion of women at Conyers, ultimately, our strategic mission has been broader than gender specific. One of our core values is “diversity”. As a core value we aim to embrace the power of diversity in our teams, our work, our culture and our communities. We value diversity in terms of race, gender, economic background but also diversity of thought.
From a talent recruitment and retention perspective, while as a firm, we pride ourselves in operating as a meritocracy, we also understand that diversity, equity and inclusion require an acknowledgement that individuals do not have the same opportunities, challenges and priorities during their career cycles. As such, as senior leadership, I see our role as aiming to recognise the “whole” individual, equipping each with the tools and the support specific to their unique context in order to navigate their goals in a meaningful and effective manner.
The composition of our insurance team represents Conyers’ genuine commitment to diversity which I hope inspires the local and international business communities we represent.
What are some of the benefits of having a predominantly female team? Are there differences in approach compared to a firm where the leadership might be predominantly male?
Chiara Nannini: Diversity comes in different forms – not just gender. We are predominately female but we are also from diverse backgrounds. In my view, some of the benefits to having a diverse team are (1) leveraging our different skill sets and combing our intellectual pool (which makes us a better informed and collaborative team), (2) divergence of opinion and alternate viewpoints leading to discussion, fact-checking and ultimately, better solutions for our clients, and (3) talent recruitment and retention. A diverse workplace is a welcoming culture for people and promotes a space where employees have confidence in expressing different views.
What would you say to females considering re/insurance as an area of practice in the law?
Jacqueline King: For females looking to go into re/insurance law in Bermuda in particular, you will not regret it. Whether you choose to stay in law for the long term or otherwise, the exposure that you will receive and connections that you will make from practising in the re/insurance space in Bermuda will be, in my opinion, second to none. Not only are there numerous career opportunities which can come out of practicing re/insurance law in Bermuda, there also seem to be more female executives in this industry than ever before. It is pretty rare these days that I find I am the only female in the room or on a call but it is more likely that I’m there with a number of other very senior females each of whom are highly qualified and experienced in their own respective fields. Re/insurance law also offers invaluable insight and exposure into not only the legal side of the business but the financial, operational and governance sides as well. Practising in this area will provide anyone who is really looking to develop their skill set with the right tools and experience to apply to other areas of law and business alike.
What challenges remain for women in leadership within financial services? Equally, what are the opportunities?
Alexandra Macdonald: One of the biggest current challenges for women in leadership is our responsibility as role models. We are expected to lead in the workplace, both in terms of managing complex matters for clients and also in demonstrating an appropriate work life balance. This can be increasingly challenging as both professional and personal demands and responsibilities often only grow with time.
The good news is that given the steady increase in the number of women entering the legal and other financial services professions, we are seeing more open communication about how to navigate this balance. We are lucky to have the generations before us as mentors to act as sounding boards and provide insight through their experiences. While addressing these challenges is not always an easy dialogue, we hope to find solutions to ensure current and future generations have the opportunity to progress in ways that are meaningful to them and ultimately provide value to the business.
Did all of you follow a similar path to Conyers and re/insurance? What different experiences do you bring to the table?
Jennifer Panchaud: I would say our paths were educationally similar in that we all studied a course of interest at university either before or after obtaining our respective law degrees, but our interests, personalities and experiences are quite different. Our differences can be most easily seen when we are, in fact, sitting around the table collectively considering anything from a legal issue to a marketing initiative. There is almost always engaging discussion (and a few laughs!) and helpful contributions.
For example, I started my legal career in a Tier 1 insurance litigation team in London and, as a result, often consider other angles to a corporate legal issue. Whilst the rest of us did the legal practice course, Chiara completed the bar vocational course which I think lends to how gracefully she thinks on her feet, being even-keeled in all our debates. Jacqueline and Alexandra are experts in the nuances of insurance regulatory work and guide so many of our technical conversations. And Sophia, well, Sophia is a natural born leader – she listens actively and ensures we reach a collective conclusion.
How do you balance your family lives and your professional careers?
Alexandra Macdonald: As any lawyer will find, there is no perfect, easy balance between one’s personal life and the demands of this job. There is not a one size fits all approach and in my view, it therefore starts with defining what that balance looks like for you as an individual. For me, it helps to have specific plans scheduled – whether it’s a weekly pub quiz, sailing on Wednesdays or family dinner on Sunday night, if it is in the calendar then I can organise matters accordingly.
Jacqueline King: This one continues to be a work in progress for me. It has been a particularly busy time for Bermuda and our practice area over the last few years which has been great for us professionally and for the jurisdiction, but this has also meant that I have some work to do on better trying to balance this busyness with my personal and family life. I’ll be sure to start by taking some of the advice offered by my partners here and see how that goes!
Chiara Nannini: I don’t think there is such a thing as a true work/life balance. To thrive in one area in all likelihood means that the other area suffers although often one’s personal life and work can be mutually beneficial, particularly if you are a parent (think greater economic stability for the family). In order to have both a fulfilling career and to create the family life you desire, it is important to think about what work path and what family path will work for you and your family. You might decide to work part-time or take a step back from numerous projects at work if you wish to have more time at home. Or perhaps you ensure that you and your partner actively share caregiving and household responsibilities during periods where you invest heavily in your career. Maybe it is leveraging family members or day care for child care. Whatever you decide, there is no right approach. It is what approach works best for you and your family.
Jennifer Panchaud: I used to interpret the common phrase “work/life balance” as meaning we should strive to give equal attention (or weight) to our professional and personal lives, all of the time. However, over the years, I’ve realised that this was not a realistic interpretation or goal for myself: there are times when I must give greater attention (or weight) to my personal life than my professional life, and vice versa. As result, there are periods of my life, whether a few days, weeks or months, that simply are not balanced and are more like a seesaw! I try to manage those periods of “imbalance” by communicating with those around me. For example, I try to be upfront and honest with my family/friends when I’m going through a busy time professionally, and I also try to prepare my colleagues and teammates for times when my personal life requires more of my attention. In short, I guess I try to work in a team, whether professionally or personally, because I appreciate I can’t balance it alone!
Sophia Greaves: The goal of a “work/life balance” between one’s family and professional life is misleading and has left a lot of women feeling unfilled, inadequate and burnt out. A career in financial services is rigorous, competitive and high intensity. At the same time, the peaks and troughs of our personal lives can also be all consuming. As a result, I have long given up on trying to achieve a “work/life balance”!
In my view, “work/life balance”, as a goal, particularly for women in leadership, needs to be redefined. After almost 17 years of practising as a lawyer, the people whom I have most admired along the way didn’t necessarily prioritise “balance” in the traditional sense. Instead, they prioritised “perspective”. They had the perspective to know that no two days are the same; to make room for the unexpected; that if you’re ambitious, the task list will never be complete and that there will be days you inspire others and days that you’ll need others to inspire you. Above all, the people whom I have admired harness enough perspective to extend grace to themselves and others. I think that it’s at the intersection of perspective and grace that people find their own sense of fulfilment and balance.
What are the ambitions for the re/insurance practice at Conyers?
Sophia Greaves: Our goal is to maintain our reputation as the market leading insurance practice in Bermuda by continuing to provide our clients with first class service reflective of our Tier 1 status. We also expect to build on our legacy of the many significant contributions that the Conyers insurance team has made to the development of Bermuda’s thriving insurance industry.
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