Daphne Botha, the Head of Risk Management at Futuregrowth Asset Management, has ascended the corporate ladder through a blend of relentless hard work, ongoing education, and an unwavering determination to seize every opportunity that comes her way. Find out about her incredible journey and why she strongly believes in mentorship, particularly from other women in the financial industry.
Can you share some key milestones and challenges in your career journey that led you to a senior position in the finance industry?
My journey has been an interesting one. If you asked me in matric where I expected to be in 20 years’ time, it would certainly not have been here. I initially planned to go the CA route, but after six months at university I changed my mind. I completed my initial stint at university the same year we had our first democratic elections. I could not secure permanent employment for about a year and then following that I managed to get into a graduate programme at Syfrets. Following that, a combination of hard work and being in the right place at the right time probably explains my journey to where I am today. Looking back, my first five years in financial services look positively boring compared to the next five years, which was when I joined Futuregrowth Asset Management. I started off as a middle office administrator and ended up being a portfolio manager before the five years was over. In that period I also spent time on the dealing desk and started managing people, while completing my B.Com Honours on a part-time basis, as well as a UCT GSB leadership course, also on a part time basis.
At Futuregrowth Asset Management I had no shortage of opportunities and grabbed those with both hands. I am eternally grateful to the leaders of the business for the opportunities I was given.
How do you perceive the current state of gender diversity and inclusion in the finance industry, and what changes have you observed over the years?
I have always been gender agnostic in my role of hiring new talent, but somehow have hired a higher proportion of females compared to men. I’m not sure if this was just a function of the pool of candidates available at the time or whether I have an unconscious bias on the matter. However, I have observed anecdotally that in the same way, men seem more prone to hire male candidates in senior positions. I have not observed that many changes in terms of gender diversity. I have not seen intentional behaviour to hire more females because it is the right thing to do, but rather because it is required due to policy.
Balancing work and personal life can be particularly challenging in demanding roles. How have you managed this balance, and what advice would you give to other women aspiring to senior positions?
This is difficult and everyone must do what works for them. I don’t think I would have been able to operate at my current level if it had not been for the fact that my husband was a home executive. When we made this decision for our family, I expected some level of stereotyping from our conservative extended family, but I was more surprised by the reaction from members in our industry. While this arrangement allowed me to be ‘available to work’, it does continue to leave me with a sense of significant guilt that I am often not available for my child or my husband or for myself.
I am trying to be intentional about creating the balance, because I don’t want to wake up one day with regret, but it is difficult, there is always the next client, or next pitch or next project. I think what makes it more difficult for me is that I am a hands-on leader, and there are generally more than enough “to do’s” to keep my focus away from creating the balance that I crave.
Have you had mentors or role models who have significantly influenced your career? How important do you think mentorship is for women in finance? Mentorship is vitally important to anyone’s development, irrespective of gender. Mentorship helps women to be unapologetic about being themselves. Some of my primary mentors were male colleagues, and I think I might have had a slightly different/potentially better outcome had I had a female mentor. Unfortunately, senior female leaders are in short supply, and it is incumbent upon every female in a senior/leadership role to avail themselves as mentors to the stars of the future. The colleagues/leaders we associate with can influence our biases, and hence it matters who we choose. The ideal for me would have been to have both a male and female mentor, to be able to lever off the best of both worlds. I feel privileged that I had a mentor at all, and I am most grateful for the opportunities that have been afforded me.
What do you believe are the most critical steps the finance industry needs to take to support the advancement of women into senior roles? What initiatives or policies have you found to be most effective?
I think that while there are certain initiatives that the industry can initiate, but we also need women to come to the party. In my experience I believe that often women limit themselves in their thinking of what is possible. We need women to not accept “NO” as an answer.
