I have had the privilege of connecting with Oricia Smith, President, SLGI Asset Management Inc. And Senior Vice-President, Investment Solutions, Sun Life Canada.
Oricia has forged a highly successful career for herself and is currently responsible for overseeing $150 billion of global assets for Sun Life Global Investments. Being an Ivey alumnus, Oricia happily agreed to share her insights on her journey during and after Ivey.
In which ways did Ivey best prepare you for your career?
I attended Ivey for both my Honours Business Administration (HBA) in 1995 and Master of Business Administration (MBA) direct in 1998. The HBA program at Ivey introduced me to disciplines that I did not think I would have any interest in. For example, I took courses in financial markets that set me up to take and successfully pass my Canadian Securities between my first and second year at Ivey. Having a safe environment to learn the terminology used in investments and financial markets, which can feel like a different language at times, allowed me to step into the financial services industry with confidence.
More importantly, Ivey made me aware that business is about relationships. Working together on projects reinforced that relationships matter and that we need to trust the people who we are working with to be successful. Trust comes from sharing experiences, being open to helping others and being kind, even in stressful times.
How would you describe the Ivey alumni network and its benefits now as an employer, and previously as a new graduate? How do you feel about alumni opportunities — senior positions and providing mentorship?
The network is more than just a business network, it has also become a network of my husband’s and my closest friends. My husband is also an Ivey graduate, and it is incredible to see that the relationships we formed with our friends at school are still strong today.
I strive to encourage more women into the asset management and financial advisory industry. I’ve looked to Ivey to help me make that happen. In December, Sun Life Global Investments and SLC Management became sponsors of the Women in Asset Management (WAM) internship program at the Ivey Business School at Western University. Through our three-year partnership, we will support young women’s careers in the industry by providing mentorship from our portfolio managers. I am personally very excited about this initiative. Sun Life Global Investments has many amazing women portfolio managers and leaders in sustainable and manager research as part of our portfolio management team. Having them as role models for the next generation is a wonderful way to empower women and support gender equity, which has become a priority across our businesses. Our participation in the WAM program will help us develop and attract the next generation of talent and drive greater diversity in the asset management industry.
The employment rate in Canada continues to hold at record low levels. Through our internship program, we are helping to build a strong future for new graduates to help them find jobs in the industry and build their careers.
What advice would you offer current or aspiring Ivey students about business or networking?
Networking is a key part of growing and advancing as you are working towards your career. Relationships have value and building a network will help you personally and in your career.
Put your hand up and get involved early in your career. There are lots of opportunities out there to help you develop. Many organizations recognize the importance of finding and attracting the next generation of talent through formal mentorship programs, like ours, which I would encourage new graduates to get involved in. I have also seen organizations offering a ‘reverse’ mentorship that pairs more senior leaders with new employees to the organization to learn from them!
Also, remember your strongest network in the future will be the colleagues who you work with today. That peer group will move into different organizations and move into more senior roles as the years go by. Be kind, work hard, support each other and those relationships will support you later in your career.
Why did you choose to go to Ivey over the other business schools? What do you think is the most distinguishing feature of the Ivey HBA program?
I wasn’t quite sure I was going to apply to Ivey when I decided to go to Western University. I loved the beautiful campus, the size of the University and the energy of the people who attended and worked there. I enjoyed my first two years at Western, taking a variety of courses and even made time to coach one of the London Artistic Synchronized Swimming teams.
Ivey became top of my list in second year when I researched the program. I loved the idea of a curriculum where you are fully immersed in business and with a close group of people who you get to know like family. I knew I would form strong relationships while spending two years with peers as we progressed through the program together.
What is the biggest barrier to going into a male dominated industry?
The asset management industry has traditionally been male dominated. While progress toward gender equity is being made across the industry, there is more that needs to be done. The biggest barrier I faced in the industry is being different. Sometimes our differences can make us doubt ourselves, which stops us from trying something new. But you can’t follow a path that someone else has already set.
I learned early in my career that you need to leave your comfort zone and try something new. You don’t need to know all the answers. What you need is to be able to ask the right questions. At times we fail, but we must see the opportunity to learn, adjust, and move on.
Did you know that only 15-20% of financial advisors in Canada are women? In asset management it’s not much better, with only 10% of open-end mutual fund and ETF portfolio managers in the U.S. being women. I am hoping to change that. I want women in the wealth management industry to know that they can do this. We need them in this industry — we can make a difference in society.
A key dimension that sets women apart from men in this industry is relationship building – their desire to get to know Clients holistically and become the expert they can always turn to and trust. This is a huge asset and skill set that women bring to this industry and one that is needed not only in today’s environment but also in the future as women are set to control a significant share of wealth in the years ahead. I am truly proud to be leading a business, Sun Life Global
Investments, that has the power to affect society by helping Canadians save for their retirement and achieve lifetime financial security.
Oricia is a perfect example of how an amazing individual can utilize their Ivey education and create an astounding career. I am personally inspired by her work ethic and generosity to give back to the Ivey community. With determination and a degree from the Richard Ivey School of Business, the only limit to what we can achieve is what we can dream.