Podcast S3E4 | Is Common Sense Uncommon in Risk and Compliance? Namita Bhide

Podcast S3E4 | Is Common Sense Uncommon in Risk and Compliance? Namita Bhide

Podcast S3E4 | Is Common Sense Uncommon in Risk and Compliance? Namita Bhide 1400 788 Risky Women

Kelly-Ann McHugh interviews Namita Bhide, Founder of Denim Consulting, on innovation in the financial service sector and why moving to a “proof of value” rather than “proof of concept” model is key to making collaborative, simplified, customer centric change.

Namita is an ex-Banker turned entrepreneur and currently driving growth for a FinTech. A high performing financial services leader with over 20 years of diverse breath of experience across greenfield, innovation, strategy in uncertainty, sourcing strategy, payments, transformation (digital, technology & operations) and risk & compliance, across buy and sell side. A unique perspective to create new models by marrying the old & new world. Driven by problem solving, achieving social impact whilst ensuring commercial sustainability. She is an advocate for gender equity and believes in the strength of diverse, inclusive teams to create better innovative solutions. In 2017, she was named by Let’s Talk Payments as one of Singapore’s 25 most influential female corporate leaders and in 2018, Top 100 FinTech Influencer in South East Asia.

Show Notes
  • 01:54 Career Journey & Risky Choices
  • 14:53 Trends, Introspection & Collaboration
  • 23:33 Applied Innovation
  • 26:36 Top Challenges for Financial Services
  • 32:16 Gender Diversity
  • 35:22 Rants & Revelations
  • 38:16 Rapid Fire Round

The more dialogue you have, the more simplification we have, the complexity is reduced because you’ve got the right people discussing the flow of how this is going to play out from a customer journey perspective.

MyComplianceOffice (MCO) provides compliance management software that enables companies around the world to reduce their risk of misconduct. Our powerful platform lets compliance professionals demonstrate they are proactively managing the regulated activities of employees, third-party vendors and other agents of the firm. Available as a unified suite or à la carte, our easy-to-use and extensible SaaS-based solutions get clients up and running quickly and cost-efficiently. We’ve built our passion and proficiency for compliance automation into every product, empowering clients of all sizes to maximize technology to minimize conduct risk.


TRANSCRIPT

Kimberley Cole 0:01
This is Risky Women Radio – a show to connect, celebrate and champion women in risk, regulation, and compliance. Sharing insight and perspectives from the most influential members of our global Risky women network on the latest developments, we need to think about, the challenges we should all talk more about and the innovation we are most excited about governance, risk, and compliance. Bringing together the hundreds of senior women professionals already connected with a new emerging group of leading women and men. I’m Kimberley Cole, your chief risky woman.

Kelly-Ann McHugh 0:38
Hello and welcome to Risky Women Radio. I’m Kelly-Ann McHugh, APAC director at MyComplianceOffice and host of a short series here in Singapore for Risky Women. Today we are pleased to have Namita Bhide, Managing Director for Denim Consulting, with us to chat is common sense and common. Hi, Namita.

Namita Bhide 0:59
Hi Kelly, how you doing?

Kelly-Ann McHugh 1:01
I’m good. Thank you. How are you?

Namita Bhide 1:03
I’m good. I’m yeah, enjoying the circuit breaker. I just heard that before.

Kelly-Ann McHugh 1:10
Yeah. And we all gosh and another month to go here in Singapore, but we can still work remotely like this. So this is great.

Namita Bhide 1:19
Absolutely. I think this is just a new way of working.

Kelly-Ann McHugh 1:21
Yeah, absolutely it is. So, Namita your journey began after studying at Pune University in India, where you were you know straight after that you were busy setting up a AT&T the first time in India and ever since you’ve worked in financial services with a twist of innovation with roles at Deutsche, SCB, UBS, and you’ve even sat as an advisory board member on the Women in Payments here in ASEAN. Tell us a little bit more about your journey to date and some of the highlights.

Namita Bhide 1:54
Sure. I think I attribute a lot of this to the theory I call is organized chaos. It’s a method to madness having been brought up in India, it laid the foundation of constant change. So for my personal and my professional journey, I’m an Air Force brat. My family moved continuously. We moved every few years. And so a routine of new schools, new cities, new friends, change became the new normal. And it sort of became a developing of plug and play model for my personal journey. So, it tied in nicely and it may sound a bit accidental but it’s become my own forte of creating new business, cultivating greenfields, opening new markets and I suspect my childhood of constant change and exploring new things has been really the basis of my professional journey. So there’s a lot of diversity in what I’ve done. So being part of the journey of setting up AT&T, the first mobile service in India was absolutely thrilling to just to, you know, coming out of B school and being part of this, you know, we were literally 16-17 of us working out of, you know, a little shop, shop house, shall I say. And that’s where it all began. And then from there on, I came to Singapore to set up a software services company in the region. And I think the attraction, and at that time, I was selling to banks and insurance companies. And the attraction to moving to financial services was really the complexity and the role of technology that was creating an increasing importance to drive change. And, you know, I think that’s where the journey began.

Kelly-Ann McHugh 3:55
Yeah, absolutely. I mean, does sound like very interesting upbringing. And suddenly myself, I’ve moved to three or four different countries myself and throughout my career, and I think that that ability to just jump from from one country to another or one business to another and apply the things you’ve learned is really interesting. So you sort of said, Some of it’s been a bit accidental, which I think a lot of us can relate to as women. What was some of the motivations behind your career choices, moving from sort of procurement into innovation? Or, you know, are there some examples there of motivations for change?

Namita Bhide 4:39
Absolutely, I mean, you know, I think the the hunger and the curiosity and the ability to connect dots and and sort of just being I think the two things I really attribute to this to, you know, being a strategic problem solver. I love getting into the weeds of things and because having, having being exposed to so many different cultures and different ways of working and living and you know, that made it a lot easier and I’m interested in people so that was a big, big motivation of making choices and some of them happen accidentally some of them just came along the way and I, you know, put my hand up and or I’ve had been lucky that I’ve had some leaders who spotted that in me and and that’s why I think the common sense is uncommon is a theme that that continues where, you know, there’s a lot people are over complicating things and sort of not coming from financial services initially, I was looking at it in a much more simplified way. And I think that really helped me to, to make the choices I made and I’ve had success along the way. And that’s really been the underlying theme I think, getting into new markets. So yeah, going to set up for retail banks. You know, within India, I lived in China for a bit to set up the business there. I worked on Turkey, I worked on Russia. And I’ve had global roles and and sort of have, like yourself moved a lot worked continuously with different people. But I think that’s the most attractive part of doing this. And I think the underlying theme is also the fact that people are people, it doesn’t matter where you’re from. The common theme of achieving something building, building a new business, we were all focused on that. And that to me is really the driving force of what we do today.

Kelly-Ann McHugh 6:44
Yeah, I like that theme of keeping things simple. And so we’ll get to that in a moment. Tell me what is the biggest risk you have taken in your career?

Namita Bhide 6:55
Ah, being an entrepreneur! Oh my god, you know, I think the key drivers whereas if I look at everything that I’ve done so far, I’ve always been an entrepreneur, part of a large organization. You know, when you’re setting up businesses, or doing something different and new for a big bank, 160 year old bank, or 200 year old bank, you have to think differently. And so I felt like with the backdrop of organized chaos of being brought up in India, the Armed Forces upbringing and doing such a variety of work, I was equipped to give that dream a chance. I think being a woman and being an entrepreneur, both synchronized to you know, just being being risky because it’s hard, you know, you’re doing everything you’re hustling, the ability to close business and deliver to the client at the same time and, and sort of keeping the lights on on every aspect. Is is was definitely something I learned more about myself. Yeah, yeah, definitely risky and also I think it’s nobody tells you that right i think nobody tells you what this would entail. I’m loving it but I think the upside is that I’ve learned I’ve got to work with some absolutely unbelievable founders, corporates, the journey has been interesting but it’s also been very, very difficult. I’ve had periods of right shall I just not do this and go back, you know, for a variety of reasons, but it’s, it has been, it’s been soul searching. And also, you know, I’m bringing everything and the entire two decades of experience to this which which which is fun, but yeah I would certainly put it down as my biggest risk that I’ve taken.

Kelly-Ann McHugh 9:04
Yes. But you’ve also had some risky breaks in your career which is fantastic. Tell us a little bit about those!

Namita Bhide 9:13
Oh my god, yes. Some people can call me a little bit crazy for those. So my first fun and the incredible thing I landed up doing after a great run of seven years with Deutsche and traveling the world and doing some unbelievable work. I felt like I needed a pause. I was in a new country every fourth night there was a new hotel was a little bit of an up in the air situation. And you know, I was like, okay, I really need to sort of reconnect with myself. A very dear friend and ex colleague who also work with me at Deutsche, had already started pursuing her dream. She bought a piece of beach in Zanzibar and set up an unbelievable boutique hotel and, and, you know, I think we had so many common experiences working with each other on a number of initiatives. We understood each other we travel we had traveled together as well. And and so she basically is when I said I’m taking a break, she’s like, why don’t you come hang out? Help me operationalize my business and I was like, oh my god, sure, let’s do it. And you know, and it just literally happened organically. And I didn’t really think about it too much. And I just sort of took the plunge and it was one of absolutely I was one of the best decisions for me. And I think the real appreciation of simplicity and going back to basics. Africa just brought it home full force. It was also sort of, you know, it was gods must be crazy all episodes every day, which made it a lot of fun and you know, you appreciate some of the good things in life also, but I mean, I would recommend it to everybody I think that reconnection and just is is, is important for the soul.

Kelly-Ann McHugh 11:17
Yeah, I mean, I’m interested. I’ve not had a break since since university myself and that’s, you know, 12-13 years of working. So I’m I’m intrigued. I am down for six month break in Tanzania!

Namita Bhide 11:31
Oh, absolutely, I would, you know, we’ll have a separate chat and I’ll give you some pointers. But I would recommend you come back with a different perspective. You come back with just you know yourself a little bit more. And I think it’s important. I think we all need to do soulful things for ourselves just to just to bring a different dimension really and then having a clarity on what is important, what we want to focus on and just yeah, just doing something which is different.

Kelly-Ann McHugh 12:01
It’s fantastic. In terms of your, you know, your career to date, and perhaps it’s been a manager or, a colleague, or somebody external completely, you know, who are some of the role models that you’ve been inspired by?

Namita Bhide 12:18
There’s a very big, sort of there are many, many different people who have helped me and guided me. But, you know, I think I’d sort of say my father and mother have been a huge influence. You know, dad was in the Air Force. So his work ethic and you know, both of them actually, they’re both their work, work ethics, their their curiosity, their empathy, their humor, you know, he’s, my dad’s 83, and he teaches yoga. He’s done, yeah, he’s super fit. My mum decided to do a course in counseling and psychology at the age of 71. She topped the course, she went back to school, you know, and I think I have those right in front of me and we, I have an older brother and we both had the same opportunities and we were just given a free hand to think about what we want to do and you know, so I’m really thankful and they continue to influence and you know, lead by example they’re so tech savvy so the whole quarantine has not been an issue they you know, they’re on their iPads and they do everything that they need to and they have been from the first iPad when that got launched so it’s, you know, I’m really lucky that I have that influence right in front of me.

Kelly-Ann McHugh 13:44
That’s, that’s fantastic you know, to have that whilst you were growing up and all of that different travel throughout India and elsewhere, that’s, that’s inspirational for sure.

Kimberley Cole 13:59
This episode is brought to you in partnership with MyComplianceOffice with clients in over 80 countries and employees around the world. MyComplianceOffice is committed to delivering affordable easy to use compliance technology. Thank you MyComplianceOffice for your support of Risky Women Radio.

Kelly-Ann McHugh 14:21
So let’s get back to let’s let’s get back to our theme on terms of is common sense uncommon and making compliance business enabling, keeping it simple. You mentioned it just before. Look, there’s a lot of transformation underway at the moment here in APAC, and with regards to the banking sector, we are looking at the rise of digital banks, etc. Tell us about some of the projects you’ve been involved in, and how that kind of relates back to that simplification theme we’ve been talking about.

Namita Bhide 14:53
So I think there’s there’s a few things that that I’m seeing and it’s a constant thing, right? So you see innovation being thrust on everyone. And it’s almost like if you don’t have innovation in your, on your website or anything that you do in terms of you’re not looked at as an innovative company, right? So for me, it’s a very auto regulator, right. So absolutely, and I feel like from my perspective, in my experience, it’s a very overused much abused word. And and it’s almost synchronous to banking and business transformation. But the way I see it, I like to call it from my perspective, it’s applied innovation. You know, you need to understand the business for you to fundamentally change it. And and for me innovation drives from a from a separate from a different I have a different anchor towards it. I believe values make a big difference, the integrity, responsible behavior and sort of driving, why you’re trying to do what you’re trying to do at a fundamental level, and I’m seeing that trend come through quite quite a bit because you know, your customers are demanding transparency, they want to make it they want a simple experience. And that’s why there’s been a rise of fintechs. Right? You look at just moving money, right? You know, you you have the Transfervisors and the Instarems, Revoluts of the world who have taken over and you know, I don’t remember moving money through the bank across the world, it’s much faster do it through other alternatives. So that the push to to really listen to your customers and and not you know, back in the day, you, banks could get away by not explaining why there is a fee structure or why are they getting charged this or why does it take too long. But now the model is defunct, so you have to keep the customer experience at the center of everything we do, it has to be customer first, and also risk and compliance. I think that again is a key aspect of designing products, you know, banks have or anyone who’s within the financial services and FinTech world, clean money flowing through the system has to be your utmost priority. So there is a place for for all of those aspects and but it also means it drives simplicity and collaboration. By that I mean is the conversation is is around why do what are these regulations Why do I need to do this? There has to be a proper dialogue and conversation for that collaboration. It can’t be Oh, this is a regulation we have to fulfill it. Asking the questions of everybody in the ecosystem. It could be the regulators it could be anyone who, who’s part of that journey, risk compliance, technology, operations, do we need 17 steps to deliver a particular service, can we do it in seven steps. I think it that that is that’s why for me the simplification and collaboration are the cornerstones of the way forward. There’s a lot of new stack in terms of technology, but ensuring technology’s driving change and not the other way around. So the forefront of what’s your business core is why are you trying to solve this problem? What is it that you’re trying to do? still has to be the bedrock of your need to do what you’re doing. Technology should drive that change and not be the driver of change, if that makes sense. So as I’m seeing that, I think there’s lots of introspection I’m seeing I have, my clients are a variety of clients. I work with banks, who’ve been, I’ve worked with new companies, RegTech companies, FinTech companies, payment companies. So it’s a variety of going I’ve got all players that I’m servicing, but the theme is everyone’s curious to speed being important, right? We want to deliver this quickly, we want to do it responsibly. So the collaboration becomes key part and also you’re seeing partnerships is a key part of driving that. You’re not seeing all banks trying to develop products, you know, you want to focus on being a bank and not being an engineering hub. You know, one can argue that there is, you know, some banks that are hiring 500 data scientists do I need that? Can I not partner with somebody to do this. So, it really is about speed and everyone perhaps also should should think about how do you collaborate to get to the fastest way of delivering that change and, and making that difference and impact in a responsible and sustainable way.

Kelly-Ann McHugh 19:44
Yeah, you raised some great points there. So I specifically I really liked the point around putting that customer journey first and really thinking about what the customer is trying to get out of this and what’s best for the customer. I guess that’s where our, you know, the compliance listeners will be interested in round, you know, the MAS or the SFC puts out a regulation. But what does that really mean for the customer and as you say, simplification. Innovating throughout that process to get it from 17 steps to, to seven, where that sounds like some interesting work you must be doing and helping those companies with that.

Namita Bhide 20:22
Yeah, and I think the, what is, you know, and I, I’m quite lucky and quite unique in my experience. I have done everything from setting up businesses to running large, complex programs, running operations, doing have have done a lot of strategic sourcing, worked on strategy. And I think my most recent role at the corporate was running innovation for financial crime compliance. Now, that’s a bit of an oxymoron. You know, one can argue was it was I preventing crime or, you know, was I creating crime. I mean, I believe I was preventing crime. But I think, to that, the reason I could bring a different dimension is because I understood how businesses are done. And you know, one of the other things, we talked about business, you know, compliance being business enabling, it’s very important that people within the support organizations, it’s no longer oh I’m a business product owner, I’m a business, I face the client. It has to be a collective conversation. And there has to be understanding of what your business is doing, right? Why am I doing this? And what are the checks and balances and controls I need to look after so that I don’t get the fines and I don’t get into any of the administrative challenges I have. And it goes back to common sense. I think it’s about the culture, it’s about the awareness, it’s about the enablement and really cross pollination of teams to drive that change, right, so, so that’s why for me having the roles I have had my go to people are risk compliance and lawyers. If I go into new market to set something up, they need to tell me what I can or can’t do. And that collaboration has been one of the reasons why we’ve had a lot of success because you’re giving the right subject matter expertise, the right respect, and collaboration, and airtime. Right? And so the idea is to ensure that the organization’s put out products that are foolproof, that are ensuring that the right balance is there, and that we keep our customers money safe, that the experience is good. And then from a regulatory framework, it’s not a policing aspect, but it’s really about balance of what needs to happen and you know, the right, money flows through the system. So for me, that’s why that enabling aspect is important to drive that change. I think innovation can’t be done completely in isolation.

Kelly-Ann McHugh 23:03
Absolutely, I was just thinking earlier around my time at Deloitte, which was one of the first companies that I worked for and really, we had this concept of almost crowdsourcing innovation, using the whole organization to come up with ways that business could be generated or that operations could be improved. What is some of your experience or I guess some hot tips about how applied innovation should be thought about and used to advantage?

Namita Bhide 23:33
So I, you know, I think I wholeheartedly believe in that I feel like there has to be a voice there has to be a co creation of products, there has to be a co creation and just, it needs to be as much as a you know, manufacturing setup, right. You need to have a progressive assembly line where everybody is adding their secret sauce to delivering that product. And I think when you talk to a technology person who’s developing that solution for a problem that you have, or an operations person who’s fulfilling the client requests or a risk and compliance person who’s, you are creating a robust service offering, you are creating a service that will not have a challenge, because change is the most constant thing that we all are facing and every aspect of it. So the more dialogue you have, the more simplification we have, the better way to improve it, the complexity is reduced because you’ve got the right people discussing the flow of how this is going to play out from a customer journey perspective. So you know, for me, that is key, and also knowing what are you focusing from a business perspective? What is it that you’re trying to draw? What are the four things that you focus on and having that focal point is key. Because you know, not everyone can do everything. So sort of solving for that and then working with partnerships to deliver those whatever the focus and whatever you’re trying to achieve. So having a goal having a plan is crucial. And and also sort of sorting customer feedback regularly and to say around, what are you thinking of because, you know, you can create in isolation, you have to get feedback from partnerships, you have to get feedback from customers who are using your service, and even going to a proof of value than proof of concept. I like the word proof of value more because that’s what you are driving your business has to drive value. And I I urge all the supporting organizations to think about that from a value like what is your value to the viewer to the product you’re offering or, or anyone who’s interacting, the risk or compliance team should be able to say, right, I actually had a great conversation, I got a good insight into why I’m thinking about that. So when you drive from a place of value, you’re able to, I think deliver a lot more, if that makes sense.

Kelly-Ann McHugh 26:11
It absolutely does. And I definitely like the term proof of value over proof of concept. And I’m going to use that going forward. In my own role.

Namita Bhide 26:20
Please do!

Kelly-Ann McHugh 26:20
I stole it. What are some of the trends you were seeing in the direction of travel for financial institutions and financial industries? What are the top challenges that these financial services are aiming to tackle at the moment?

Namita Bhide 26:36
So I think it’s broad, I would say, I mean, there’s a few buckets that I like to think about them in right? I’m seeing a lot of non financial institutions come into the payment space, right. So you are seeing the Googles, the Amazons, the Apples of the world, you know, Toyota has a bank of their own. You’ve got Mercedes Benz who has their own bank. So you are seeing a lot..

Kelly-Ann McHugh 27:06
I think even Razer the computer gaming organisation…

Namita Bhide 27:11
Yes. And because gamification has become a big part of how you’re going to deliver products and services. So the expected spend over 2020 in terms of FinTech trends is over 30 billion for 2020 and hyper personalisation using AI machine learning a lot of predictability. And hence the the world of Razer from a gamification becomes quite relevant. You’re seeing mobile payments at the forefront of it. You know, there are different channels of payment methods and you know, within today’s circuit breaker quarantine, that whole contactless payment has been a big part of our lives, right? You’re getting everything delivered online. And I think Singapore is also very unique. We’re very lucky to have great infrastructure, it’s wired for that. You’re also seeing a lot of conversational interfaces like the chatbots world, which is trying to make life easier. I feel like they are making progress. So so these are some of the trends I’m seeing where, again, I feel like all of it goes back to customer centricity is about customer experience. And then you are using enabling technology to to achieve that in the best, fastest possible way.

Kelly-Ann McHugh 28:32
Fantastic. And again, bringing it back to that common sense approach to developing products absolutely great trends. What about in terms of managing risks appropriately? How are banks going to remain relevant going forward?

Namita Bhide 28:49
You know, maybe my response to this is going to be a little bit biased having spent a significant amount of my career in banks, I don’t think bank will be dead. I still feel like they will have a role to play. I call it fintegration, right. So that that’s something that I believe I’d like to coin. I think the partnership models are going to be key, banks will still remain the front and center, from a from a compliance from a risk engine perspective, you know, being large international banks, your obligation to the regulators all over the world. And, you know, if you clear more currencies, you have more obligations to take care of, and you created this engine, right. So you’ve got the infrastructure and if I can partner to deliver services, it could be faster payments, it could be cross border, it could be SME loan, it could, it could be a variety of things that I can do with partnership modules. I feel that is a win win for both because not all fintechs do the end to end fulfillment. They probably solve a particular problem in the assembly line. So having that partnership will be forward, you know, so I do feel there’s a role to be played for all the relevant successful players who can ensure, you know, client centricity and speed. I think those are just the things that that are going to be as a focal of what we’re trying to do. I mean, you’re seeing on Facebook, the WhatsApp payments is another big way of moving forward. And you know, these are things banks will have to adopt in terms of partnerships, right.

Kelly-Ann McHugh 30:37
Yeah, I think I was reading an article earlier today from the regulatory intelligence team at TR and they mentioned that DBS during COVID has moved almost 90% of certain parts of its business to remote working, even significant portions of their trading businesses are now working remotely. This potentially the one thing that banks needed to change, you know, they were so brick and mortar – can’t have my traders working from home. You know, that’s risky. So that’s interesting as well, actually.

Namita Bhide 31:13
Yeah. I mean, you know, if you think about why traders were not because there was a whole the risk around monitoring and control. Traders needed a certain amount of workflow traders needed to make sure that they have the right credit lines, approvals, you needed four eyes principles, or whatever those were. And I feel like there’s new technology that you can continue to do all of those elements now. So yeah, I think that there is a silver lining I think COVID-19 has has changed us in lots of ways and in some good ways, as well. So yeah, there’s positives.

Kelly-Ann McHugh 31:55
Well speaking of common sense being uncommon…can you share some of your thoughts on FinTech, Reg Techs focusing on increasing diversity, and why that’s important? I mean, talk about, you know, common sense being uncommon here! But what are your thoughts on that?

Namita Bhide 32:16
So, you know, let me just preface this conversation with some numbers, right. So the global population, as we know, is 50% is women. There’s still a lot of gender gap within the workforce, the gender pay gap continues to exist. The global female income expected to reach 24 trillion annually in 2020. It’s gone up from 20 trillion in 2018. So you are seeing a significant change. Women are expected to control 43 trillion worth of global consumer spending. Now, these are numbers we can’t ignore right. However, we are still seeing products being developed by men. Now, that has to shift. And I think you can’t ignore that. Unfortunately, you know, you and I are still talking about it. and so that’s something that continues to be a work in progress. But I feel like as women, we also need to change the conversation and move the needle. I think two-three things which I see within within what FinTech is trying to enable is access. Women are getting more access to get on the development conversation. They can work on things a little bit more remotely. You do see a lot of women dropping off after a certain point in their career, so I feel like that that’s a good thing. But I think the the underlying theme is a bigger theme where access to opportunities and getting the support to be successful, once you are appointed in that role remains to be still a point that, you know, needs a lot of work, unfortunately and sadly. But with those numbers, I’m hoping that there is a, you know, we shine a different light where people again go back to focusing on collaborative cultures and having dynamic teams which include, you know, in incubate some great ideas and drives innovation in a speedy fashion. So, I’m hoping that that trend moves forward faster than you and I would like.

Kelly-Ann McHugh 34:43
Yeah, absolutely. And I know we talked earlier around trends and like car manufacturing and getting women involved in that process. And I’m certainly sure, Namita, we could team up and create an awesome car.

Namita Bhide 34:56
Absolutely, I think we should. I think that’s the side project we need to kick off very quickly.

Kelly-Ann McHugh 35:02
Absolutely!

Kimberley Cole 35:06
Connecting, celebrating and championing women in risk, regulation and compliance. Risky Women Radio takes an intimate look at the rants and revelations of the top women shaping the debate of the industry.

Kelly-Ann McHugh 35:22
Okay, so this is the fun part of the session. We’ve got some rents and revelations perfectly timely in this wonderful circuit breakers we’re stuck inside here in Singapore. The light bulb moment What is your top piece of advice you received o assist your career progress?

Namita Bhide 35:40
Don’t take yourself too seriously, enjoy it. I think that was a funny one, I was like what? Yeah, you know, we do lots of serious things but just sort of go with the flow a little bit more and I’ve been lucky I use it regularly and as I mentor different people that I work with, I always tell them just take it easy. Don’t take yourself too, too seriously.

Kelly-Ann McHugh 36:09
Absolutely. And certainly in our roles. We’re not there on the frontlines at the moment, you know, saving people’s lives in COVID. So I like that advice. And, and I definitely need to take that one on more. What is your rant? If you were ruler of the world for the day, what would you change?

Namita Bhide 36:30
I think what perturbs me is lack of empathy. And I know your prime minister’s probably gold standard for that. Jacinda Ardern, you know, I think she does that. And I think the situations which are unprecedented, like COVID-19, nobody could even think about it has really forced people to think about stop and take a think about why we’re doing what we’re doing and re-connecting. The whole digital detox is important. I feel like people have forgotten how to have conversations with each other. And now, you know, I see in the last four or five weeks, I’ve reconnected with loads of friends, family that I hadn’t had the chance because we just didn’t have the time. So empathy, stopping, thinking, having some sort of a dialogue, to ensure that, you know, people know that they’re not alone. I feel that there’s a lot of that, change is such a constant thing. I think the lack of empathy really is something I think we all need to actively develop.

Kelly-Ann McHugh 37:45
Absolutely, absolutely. And no better time than now.

Namita Bhide 37:47
Not the lack of empathy but the empathy!

Kelly-Ann McHugh 37:49
Yeah more empathy!

Kelly-Ann McHugh 37:52
Excellent. Okay. The last section, the rapid fire round!

Kimberley Cole 37:57
Risky Women is a vibrant network at the center of a global community in a rapidly growing, evolving and influential industry. Given the continued pace of change, our rapid fire round revisits the most pressing topics to share ideas and offer listeners new perspectives.

Kelly-Ann McHugh 38:16
Kimberley started this little while ago and I think it’s fantastic. So your predictions or key trends for the year ahead?

Namita Bhide 38:24
I think there’s going to be a lot of meaningful connections because of these unprecedented times. I feel like we’re gonna look at priorities very differently. So my prediction would be connections, meaningful connections. It could be business, it could be professional or personal connections. I feel is going to be a top trend.

Kelly-Ann McHugh 38:54
Yeah, cure for the cost of compliance?

Namita Bhide 38:57
Cross pollination.

Kelly-Ann McHugh 38:59
Great. Are you optimistic, pessimistic or neutral in your outlook for the year ahead?

Namita Bhide 39:06
I am going to, I’m optimistic, I feel there’s a lot of positives. You know, I feel our earth is going to be greener. You know, with all the lack of travel and lack of emission and things that none of us could could do in such a rapid manner is going to be good for us. And again, like I said, you know, meaningful connections and hoping to drive empathy. I think all of these things for me are positive. There could be challenges economically, but I think that some of those might just offset that.

Kelly-Ann McHugh 39:44
I like it. I like the optimism. Book you recommend everyone reads?

Namita Bhide 39:49
So this book was recommended by my father many many many years ago and I still to this day feel it’s very relevant. It’s it’s called the Future Shock by Alvin Toffler.

Kelly-Ann McHugh 39:59
Fantastic and we’ll have those in the Show Notes. Something to watch?

Namita Bhide 40:04
Um, I have a very diverse palette. So I’ll give you three things that I really enjoyed. There’s, there’s a film, not a film, I think it’s called a short series. If you believe it’s four parts to it, it’s called Unorthodox. It’s set about change in the Jewish community in New York. It’s very interesting. I, there’s a movie called Super Deluxe. It’s a film from the south of India. Extremely, it almost feels like a very standard sort of film with the way it’s been shot, but it’s talking to a lot of key themes that we face in today’s world. It’s got subtitles, so I would recommend that. And I’m enjoying the Killing Eve season three

Kelly-Ann McHugh 40:59
I’m desperate to watch that. And lastly, your favorite podcast.

Namita Bhide 41:04
You know, I think, as you can see, you know, there’s a lot of diversity in everything that I do. I would recommend My Wardrobe Malfunction by Susannah Constantine.

Kelly-Ann McHugh 41:15
I’ll have to take a listen for when I can actually whip my wardrobe back up again, post COVID. Now thank you very much for your time Namita. That was a really great informative session, particularly around simplification and is common sense uncommon. So thank you very much for your time.

Namita Bhide 41:33
No, thank you so much for the opportunity. I really enjoyed getting to know you ladies. And hopefully, we do more more together. So thank you and enjoy the remaining four weeks and hopefully see you in person soon!

Kimberley Cole 16:17
Thank you for listening to this exciting episode of Risky Women Radio to connect, champion and celebrate women in risk, regulation, and compliance. I’m Kimberley Cole, based in Hong Kong. For more information on the Risky Women global network, head to our website, in the Episode Notes and please be part of the ongoing conversation by subscribing to this podcast, connecting with us @RiskyWomen on Twitter or even reaching out to me directly by email.

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