The subtle art of leading in banking – Make it or Break it
In a thought-provoking interview in Nine O'Clock magazine, Marilena Popovici, CFOCOO of BCR Banca pentru Locuințe, explores the intricate art of leadership in banking. She emphasizes the foundational role of reputation in the financial sector, describing it as an intangible asset crucial for building trust, resilience, and public confidence. Board members and executives must navigate highly scrutinized environments, turning challenges into opportunities for accountability and maintaining transparency to uphold their institutions' integrity.
Marilena Popovici highlights the board's central role in shaping an organization's identity. Through their example and governance, boards influence stakeholder perceptions, creating a trickle-down effect on executives and overall organizational performance. Independent directors, in particular, are seen as pivotal resources, especially in crisis management and strategic decision-making, providing a critical layer of trust and compliance.
She delves into the evolving demands on leadership post-Global Financial Crisis, citing stricter regulatory frameworks and higher expectations for transparency and ethical behavior. Banking leaders are required to demonstrate a blend of technical knowledge, strategic thinking, and emotional intelligence to navigate complex socio-economic and political landscapes. The relationship between board and management emerges as a source of competitive advantage, with trust and synergy as key drivers.
Education and personal growth are cornerstones of effective leadership, according to Popovici. Drawing from her experience in advanced governance programs, she underscores the transformative impact of continuous learning in enhancing leadership capabilities. Coaching also plays a vital role, fostering team collaboration, empowerment, and performance while aligning personal and organizational goals.
The article concludes with actionable insights into leveraging independent directors, fostering board-management collaboration, and maintaining ethical stewardship. Popovici’s reflections reaffirm that, in banking, reputation and integrity outweigh short-term achievements, serving as the bedrock of sustainable leadership. Read more HERE.
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