Interview with Aurora Cuadros, Corporate Director of Securities Services at Cecabank
Cecabank is completely committed to equality and diversity. This is illustrated by the facts: Cecabank was recently recognised by Equipos&Talento for its commitment to actively contribute in this area, guaranteeing equal opportunities and promoting the richness of diversity. At the same event, we also received the Empowering Women's Talent seal as a company committed to female empowerment and leadership, an important recognition of the active commitment of the entire organisation in promoting a diverse and inclusive work environment. We are fully aware of the power that organisations have to help bring about a more egalitarian society. This is something that we have embodied into our future plans in order to achieve this goal by playing our part.
Walk us through your career at Cecabank since you joined the Consultancy Department up until today
It seems incredible that twenty years have passed since I started my career at Cecabank, specifically in the Consultancy and Quality Management Department as a Senior Consultant and, later, as Senior Project Manager.
In 2015, I was appointed Director of Operations Coordination and from this position I have had the opportunity to lead various projects related to Securities Services and the transfer of depositary business.
In 2019, I was named Director of Securities and Cash Services and since 2021 I have assumed the role of Corporate Director of Securities Services.
It has been a path of growth, not without its complexities, but one that I have undertaken alongside excellent teams, in which the greatest strength has been the sharing of objectives and methods.
How have you addressed obstacles and changes in your career leading up to becoming Corporate Director of Securities Services?
I have approached each and every role I have held in my professional career with the utmost responsibility, as well as with enthusiasm. They seem to me to be two essential qualities with which to approach the day-to-day tasks of any role and with which to meet the challenges that a promotion entails.
Another key aspect is the ability to build a team through positive leadership, engaging the people around you and involving them in the progress of projects.
Have you faced any gender biases or stereotypes during your career?
Working at Cecabank offers the great advantage of providing services in a bank that is truly committed to meritocracy, with no strings attached. Not only that, but it places work-life balance in the pivotal position it deserves. From this dual perspective, the path is travelled by addressing the complexities of the business, not gender.
Currently, what are your main objectives and your perspective on the development of the company?
The purpose I set for myself every day is to contribute to Cecabank's growth. Our consolidation as a Spanish wholesale bank providing specialised services in securities, treasury and payments, as well as our position of absolute leadership in depositary services in Spain and Portugal, are underpinned by core values to generate and maintain the trust that the business and our customers need. Our independence, neutrality, specialisation and ability to invest and provide institutions with an ecosystem that allows them to take advantage of technology have made us, and consolidated our position, as the best travelling companion for fund managers and investors. We have demonstrated in-depth knowledge and growing specialisation in custody and depositary services.
From there, working to ensure that Cecabank continues to grow and can open up new horizons must be the objective laid down in our Strategic Plan, and in which the Division I lead has a great responsibility.
Aurora, how do you promote female talent and diversity in your team and in the company in general?
I am very fortunate to be surrounded by great professionals and, as I said earlier, meritocracy is valued here without bias. From this perspective, I identify the best talent and try to recruit them and promote their leadership so that they can occupy the positions and responsibilities that will help the staff and, therefore, the bank grow.
Have initiatives been implemented to encourage the participation and career development of women in the financial sector?
At Cecabank we are committed to gender equality, promoting equal opportunities for men and women. For this reason, we have taken measures at all levels, as well as fostered their participation in development programmes. We have also developed a number of initiatives to promote work-life balance, implement global standards for maternity/paternity leave, promote recruitment, career development and pay equity, and raise awareness.
What do you think are the challenges facing women in management or technical roles in the financial services industry?
Not only in the financial sector, but in the entire productive fabric, the reduction of the wage gap between men and women in the same role and the adoption of measures to promote work-life balance and support equal opportunities should be a priority objective. Studies show that it takes men an average of 6 years to reach managerial positions while women take an average of 7.5 years and, in most cases, with a significant difference in salaries. In addition, the lack of role models, work-life balance, lack of support from management and the promotion gap all contribute to this.
In the case of Cecabank, we have taken this challenge very seriously and made it a priority, to the extent that we have been certified as a Family-Responsible Company. We are aware that by being more responsible to our staff and to society, we are more competitive.
From your perspective as a director, what advice would you give to the new generations on how to advance professionally?
We are very fortunate to be surrounded by young people who are well prepared to face the challenges of a globalised society. It is now time to provide them with opportunities so that they can start contributing to the system. In this regard, my recommendation to these new generations is that they communicate, that they face the day-to-day with ambition, flexible to change, willing to listen and that they find a leader with a clear vision as a role model.
