“Be Brave, Be Bold and Take Risks” – Kate Simpson, President of the Irish Chamber of Commerce Singapore
‘Be brave, be bold and take risks’
Meet the Corporate Globetrotter, Kate Simpson, President of the Irish Chambers of Commerce Singapore speaks about the strategies students need to succeed in the global business playing field.
Grappling with virtual networking, applying for internships and preparing for dream job interviews in an increasingly competitive environment, students and graduates alike can feel overwhelmed by the pressure of the hunt. I recently interviewed Ms. Kate Simpson, to discuss a range of issues pertinent to students, including insights from her journey to corporate success, her thoughts on how students can utilise their professional connections and prospects, as well as the importance of achieving gender equality and greater diversity in the corporate world.
Kate graduated from University College Dublin in 2008 with a Bachelor of Commerce in International Commerce with Italian. Attributing her adventurous nature to her Erasmus year spent in Università Boconni, Milan, Kate went on to achieve a CEMS (Community of European Management School) Master’s degree from UCD Michael Smurfit Graduate Business School in International Management and HEC Paris.
Graduating at the onset of the global financial crisis, Kate faced a challenging employment climate where “jobs were few on the ground”, exacerbated by a fragile economy similar to the pandora’s box 2020 has unleashed on “Covid graduates”. Before the pandemic shook the world and rocked the global economy, students expected to graduate into a landscape of fruitful employment opportunities and promising prospects. The hiring field has drastically changed. However, as the world gains understanding into emerging economic trends, Kate remains optimistic for the prospects 2021 will offer graduates.
Drawn to Singapore as a fast paced city and global financial hub, Kate and her husband relocated there in 2014 from Paris. With an Irish diaspora of approximately five thousand people, Kate describes how the Irish community has been supporting each other on a commercial as well as a personal level throughout the COVID-19 pandemic.
As an investment banker at J.P. Morgan Singapore, Kate’s role focuses on new markets and product access of derivative products in the Asia-Pacific region. Kate became the President of the Irish Chambers of Commerce Singapore in September 2020 having served as Vice President since 2017. The organisation aims to create networks and connections of business leaders and, support Irish companies and professionals seeking exposure and launching into the South East Asia region. From a practical perspective, companies that would have traditionally visited Singapore to scope out a market or business opportunity are currently unable to do so given travel restrictions. This is where the Irish Chamber of Commerce Singapore steps in to be the sounding board for prospective companies who wish to expand their business East.
The Global Irish – Insights for Students Planning to Emigrate
Kate invited me to join the Chambers of Commerce first virtual event, “An Evening with An Taoiseach” which she hosted. The event was truly international with opening words from the Irish Ambassador to Singapore His Excellency Pat Bourne, alongside ambassadors representing APAC countries and guests from every corner of the globe. Discussion revolved around the gateway the Irish Diaspora Strategy 2020-2025 offers to expand cultural innovation as well as foster dynamic commercial relationships for Irish entrepreneurs and businesses abroad.
Expanding the cohort of the Irish diaspora, driving growth, and promoting international networks, the strategy is ground breaking for both students and graduates. Embracing a vision that reflects the flexibility and adaptability of the Irish abroad, students planning ventures overseas can be assured that they will be supported by the Emerald isle.
Key to Success
Persistence, drive and vision are key components to success. I asked Kate what she did differently to excel in the corporate sector. Kate pin points her success to “remaining humble and hungry combined with a little luck”. She advises students not to be “deterred by rejection in the context of a job or internship interview since a greater opportunity is always around the corner”.
The job market in 2021 is going to be more competitive than ever before so positioning is key. Going into an interview “up to speed on the latest news pertaining to that company, being ready with meaningful questions and sending a follow up note after the interview will help you stand out”. Trusting your gut feeling, taking opportunities as they come, and maintaining a “say yes” frame of mind are inroads to success.
Integral to success is the ability to network effectively. According to Kate the best place for students to start is “joining a University society that reflects a keen interest and passion”. This provides you with the opportunity to meet friends outside of your course and also adds another “feather to your hat” when interviewing for roles.
Diversity and Inclusion
How does the financial services sector fare when it comes to gender equality? According to a 2019 Deloitte report the proportion of women in leadership roles within financial services firms stands at 21.9%. In order to stop the permeation of gender related roadblocks in the financial industry some firms have taken strides to empower, encourage and energize women to progress in the corporate sector.
As co-chair of JP Morgan’s Women on the Move Initiative Kate is committed towards ensuring both men and women receive equal opportunities and career advice. Kate hosts a range of events for women to advance in the business world ranging from “coaching, presentation and technical skills and financial education with a role on financial independence”. Her motto is “you can’t be what you can’t see,” it is imperative for a firm to have both gender diversity in a management team as well as cultural diversity where everyone can voice their opinions openly.
Graduate careers are affected by a firms commitment to gender equality and diversity in more ways than one. A diverse company will attract the most talented graduates and often “forms a priority for millennials selecting a job”. Kate views company culture as crucial in “promoting and valuing diverse teams,” it is well known that a diverse workforce leads to smarter, stronger and innovative decisions, “contributing positively to financial performance”. Diversity makes sense both socially and commercially. Graduates are central players in accelerating positive change by forcing companies to refocus and rethink their inclusion and diversity policies. Embrace the opportunity to “ask about your perspective firm’s diversity and inclusion policies and initiatives”.
Making a Positive First Impression in the Corporate World
A flawless application, a distinct LinkedIn profile and a bulletproof CV undoubtedly plagues the conversation of students as the season of internship applications approaches. Reminiscing on her first-hand experience as a marketing intern at the New York Stock Exchange Euronext’s European headquarters in Paris, Kate elucidates how this sowed the seeds to securing a full time contract with the company for six years. Kate prospered in an environment where she was “thrown in the deep end” and faced the challenge of conducting business through French head on. Describing the cultural difference alongside the initiative linguistic challenges, Kate embraced the experience as a “firm believer in what doesn’t kill you makes your stronger”. One of the key lessons from Kate’s experience in Paris was to be empathetic when people are studying or working in a second language.
Those fortunate enough to secure an internship often mention how a coffee meet up with a senior member of a firm sets the tone of the much anticipated agenda. I asked Kate her opinion on how students can develop a relationship beyond a “one-off coffee”- here’s what you can do. According to Kate “first impressions count”. It is important to make a lasting impact on a prospective employer. Kate advises to “think big and beyond the scope of your internship.” Finding common ground is essential, it is human nature to connect through shared passions and experiences. Asking “questions about the long term strategy of the company, challenges ahead and always sending a thank you note can go a long way in ensuring [a partner] remembers you and demonstrates a genuine appreciation for their time and advice”.
Students working as interns or graduates entering the corporate world aim to portray an image that is confident, intelligible and driven. To reflect these traits Kate recommends to start by “removing these words from your vocabulary”. The first word is “sorry” – a series of studies found that women apologise more than men. Over apologising can have a negative effect on your career by “undercutting professionalism” and “diminishing credibility”. Next, eliminate the words “just” , “like” and “think,” using phrases such as “I just want to ask” or “I think” implies a “degree of doubt” and has the potential to create a “weak impression of yourself where there need not be”. You can replace these words with “I suggest,” which reflects confidence and authority. Establishing credibility and professionalism from the outset of your career is an invaluable asset.
“Be brave, be bold and take risks” is the advice Kate advocates to aspiring business leaders reading this article. Living in the “digital age anything is possible,” Kate encourages students to connect with a strong sponsor to share ideas and confide in – a process which can be an invaluable “two-way learning curve”. There is a large difference between a mentor and a sponsor, you need both according to Kate. A sponsor will be someone who has clout and vouches for you when you are not in the room, while a mentor can provide guidance and support through their career path.
Simultaneously, Kate points to the trend of employers researching candidates to screen CVs, being social media savvy is more important than ever, as future employers can obtain their “first digital impression” of employment candidates with just one click. She advises to be cautious with what you post online as it will be picked up as part of the initial CV screening process. Post graduating, keep connected with your local alumni association, this also provides an opportunity to give back to the current student base in the form of speaking at career meetings or mentorship. Kate maintains that Ireland has an incredible education system that allows us to work globally.
Message from Kate –
If you are reading this and are based in Singapore or are considering a move, please feel free to reach out to the Irish Chamber of Commerce Singapore to help you hit the ground running – https://www.irishchamber.com.sg/