Maria O'Connell FCA
Experienced Non-Executive Director & Board Governance Advisor
Tell us more about your background
I am an experienced Non-Executive Director and Chartered Accountant with a successful 30 year career in financial services, operating as a Trusted Business Partner and Advisor to CEOs, Boards of Directors and C-Suite for global facing organisations, including State Street Global Advisors, Irish Funds and Bank of Ireland Asset Management.
My ability to constructively influence and collaborate cross-functionally, while always maintaining a strategic focussed, solution-driven mind set, has been instrumental in my career successes. I am a fellow of the Institute of Chartered Accountants in Ireland and hold a Diploma in Professional Accounting from University College Dublin and a Batchelor of Commerce Degree from University College Cork.
What is the one characteristic that you believe every leader should possess?
Integrity - followed swiftly by transparency, empathy, accountability and a keen sense of self-awareness.
What is the most important lesson, from your personal or business life, that has guided you the most in being a business leader?
Always be authentic and transparent. These traits are essential ingredients in building trust and have always guided me in successfully overcoming seemingly impossible challenges. Once people know that they can trust you, they will listen to you, seek your advice, be more open with you and work collaboratively with you. At that point, anything is possible.
How has being a member of IoD Ireland supported your role as a director and business leader?
IoD Ireland’s targeted short courses, online resources, highly informative events and networking opportunities to engage with other directors and business leaders, all combine to create a very unique ecosystem of continuous and collaborative learning, which supports me in my own ongoing development.
What do you value most about being a member of IoD Ireland?
The opportunity to engage with, and learn from, other business leaders and directors who possess, and willingly share, a vast array of unique insights based on their individual experiences, is invaluable to me as an IoD Ireland member.
Is there someone who has had a major impact on you as a leader? Why and how did this person impact your life?
I was fortunate to work at Bank of Ireland Asset Management (BIAM) when Mr. Willie Cotter was Chief Executive, affording me an opportunity to observe at close hand, and learn from, an extremely talented, dynamic business leader. Mr. Cotter was a visionary leader who built a highly successful asset management business, creating many, high calibre, professional jobs in Ireland in a time of high unemployment and limited career opportunities. Many of today’s senior business leaders in the asset management industry in Ireland started their careers in BIAM.
Mr. Cotter always shared the credit for his many achievements, emphasising that every single person in the Company had a role to play in contributing to its overall success. He was recently awarded the inaugural Irish Association of Investment Managers John Corrigan Award to honour his outstanding contribution to the asset management industry and Ireland, which is a testament to the breadth and depth of those leadership abilities that I have always admired.
What are the biggest business challenges or/and opportunities that you have seen over your career to date? And how did you help to overcome or/and optimise these?
During my 30 year career, I have experienced many business challenges ranging from the adverse economic impacts of the First Gulf War in 1990 to the recent COVID-19 crisis, which has been followed by a series of geopolitical and economic shocks.
My experience is that the actual challenges and corresponding opportunities generally centred around the extent to which business leaders and their teams were positioned and prepared, in the first instance, to respond to such events and crises. I have seen at first-hand how firmly established, robust business processes and risk frameworks, aligned with dynamic, collaborative teamwork and proactive client and stakeholder communication strategies can position organisations to deal swiftly and positively with such crises. Challenges are turned into opportunities, leading to meaningful client engagement, and demonstrate organisational strength and resilience – readying business leaders and their teams to deal with the next inevitable, unexpected business crisis.
How do you think business leaders can best prepare for the future?
Always stay curious and maintain a strong desire to continuously learn. Listen to, speak with and learn from other business leaders and directors as often as you can. By adding to your internal knowledge bank in this way, you are equipping yourself to deal with the next emerging (unexpected) challenge.
What advice would you offer to new or aspiring directors in Ireland?
Be clear on the type of board roles and companies for which you are most suited and wish to be considered. Evaluate the most effective ways that you can build your experience in moving from an Executive to a Board Director role. Make the most of every opportunity to avail of and leverage the professional development, learning and networking options offered by IoD Ireland. Be patient – it takes time and lots of hard work to secure the right board role.
