An exclusive JESSICA interview with Pamela Phua, the CEO Asia of VP Bank: how she made it to the top, her advice for success, and insights into banking

Pamela Phua's ascent to the CEO Asia position at VP Bank was not a straight line drawn from the outset of her studies in business administration. Her career goals initially centered on establishing a solid business foundation and exploring the various sectors within the field. However, as her experience deepened and her proficiency grew, so did her passion for leadership and organizational impact. In the nascent stages of her career within the banking industry, Pamela navigated through various roles, each offering a broader perspective and greater responsibilities. Through this journey, a strong interest in leadership began to take root. She sought to create a significant ripple within the organization, not just participate in the currents of day-to-day business. Pamela's ambition drove her to develop her leadership skills actively, embracing project leadership opportunities and seeking wisdom from seasoned executives. Her commitment to personal growth was further evidenced by her participation in leadership development programs and relentless pursuit of knowledge to enhance her capabilities.

As her career trajectory soared, Pamela began aiming for the upper echelons of leadership. She made calculated career choices, aligning her professional experiences with the strategic goal of obtaining the necessary insight for a CEO-level role. The evolution of Pamela's career aspirations was a gradual revelation, shaped by her expanding interests, accumulated experiences, and the skills she mastered along the way. While not part of her initial career ambitions, the CEO title emerged as a fitting milestone in her journey — a testament to her natural growth into a leader driven to orchestrate organizational success.

Her Strategic Pillars

Persistence: Pamela treated rejection not as a deterrent but as a catalyst for growth. With each refusal, her strategy became sharper, her approach more refined. Her persistence was the driving force that kept the bank moving forward.

Resilience: For Pamela, every challenge presented an opportunity to strengthen her resolve. She built a culture of resilience, where setbacks became lessons, transforming challenges into victories.

Networking: Recognizing the indispensable value of professional relationships, Pamela immersed herself in the industry's collective wisdom. She connected with peers, sought out mentors, and built a robust network, ensuring VP Bank had allies in every corner.

Continuous Learning: Committed to excellence, Pamela stayed on the pulse of the banking sector. She championed continuous learning, leading by example as she attended workshops and seminars to keep her knowledge at the forefront of the industry.

Positive Mindset: Amidst the high stakes of financial leadership, Pamela's optimism was infectious. She celebrated each milestone, no matter how small, and maintained a vision for success that inspired her team and peers.

Goal Setting: Navigating complex banking waters requires a clear compass. Pamela set strategic goals for herself and the VP Bank, charting a course with precision and intention.

Self-Care: Pamela never lost sight of her well-being in the whirlwind of her professional commitments. She practiced self-care with the understanding that a leader's strength is their ability to sustain peak performance over time.

Words of Wisdom from the C-Suite

Breaking the Glass Ceiling

Pamela Phua's trajectory to the pinnacle of leadership in the banking industry is a narrative of strategic action and psychological fortitude. She charts out a map for navigating the treacherous terrain of the glass ceiling with practical and profound advice. "Developing confidence in my abilities and believing in myself were crucial," Pamela asserts, highlighting the inner psychological battle against self-doubt and imposter syndrome. She emphasizes the necessity of this self-belief, "I deserved to be in leadership positions and had the skills and qualifications to succeed." This wasn't just about occupying a role but about embodying it with conviction.

For Pamela, diversity and merit were key drivers which got her to her role – and she is where she is due to her being a proven professional with over 20 years of experience building up businesses. Her dedication to "continuous learning and skill development" was also non-negotiable in staying ahead of the competitive curve. "This helped me build credibility and demonstrate my expertise," she says, underlining the importance of being seen as a knowledgeable leader in her field.

Networking wasn't merely a professional courtesy for Pamela but a key strategy, she reflects, underscoring the instrumental role of a strong network in her career progression:

"Building relationships and leveraging my network enabled me to navigate challenges and open doors to new opportunities,"

Risk-taking was another area where Pamela diverged from the play-it-safe approach often adopted in corporate environments. "Breaking through the glass ceiling often requires taking calculated risks," she acknowledges, encouraging others to embrace new challenges as an opportunity to showcase leadership potential. Self-advocacy was another crucial tactic in Pamela's ascent.

"Advocating for myself helped ensure that my contributions were recognized and rewarded."

Her advice is clear: actively promoting one's achievements and ambitions is essential.

The role of mentorship and sponsorship also features prominently in Pamela's advice. She articulates the value of having champions in one's corner: "Having mentors and sponsors who believed in my potential was instrumental in breaking through the glass ceiling." It's a reminder that the journey to the top is seldom a solo venture.

Lastly, Pamela touches on the theme of resilience and inclusion. "I developed resilience and perseverance to overcome obstacles and setbacks," she reveals, acknowledging the inevitable adversities of breaking barriers. "It is essential for organizations to address systemic barriers, promote gender diversity, and provide equal opportunities," she states, underscoring the dual responsibility of individuals and institutions in shattering the proverbial glass ceiling.

Leadership Traits for Success

In the quest for C-suite excellence, leadership qualities profoundly influence the trajectory of one's career. Drawing from her wisdom after successfully navigating the path to executive roles, Pamela shared the characteristics deemed essential for reaching the heights of corporate leadership. These insights serve as a beacon for ambitious professionals charting their course to the top of the organizational ladder.

Strong Communication Skills: The essence of leadership also lies in "articulate communication of vision, goals, and expectations," paired with the ability to listen actively. This skill set fosters trust, alignment, and collaborative synergy throughout the company.

Integrity and Ethics: It is imperative for leaders to "uphold high ethical standards and act with integrity." Such a principled approach ensures credibility and garners the trust and respect of team members, stakeholders, and the broader community.

Continuous Learning and Growth Mindset: A true leader is marked by "a thirst for knowledge and a commitment to continuous learning." Embracing a growth mindset propels leaders to evolve constantly, turning setbacks into learning opportunities and fostering organizational advancement.

Empowerment While Leading With a Heart: By "empowering their teams and fostering a culture of collaboration and innovation," influential leaders maximize the potential of their workforce. The emphasis on diversity and inclusion within teams also underscores the value of varied perspectives and ideas. Instead of thinking of the bank as an entire organization, Pamela prefers to think about all the individuals within, and how she can have a positive impact on, making a difference one person at a time.

Strategic Networking: "Actively building and maintaining a strong network of professional contacts" is crucial for leadership success. Networking not only aids in personal advancement but also serves as a conduit for new insights, opportunities, and beneficial partnerships.

She also touched on three core factors that she thinks are important for reaching the top in any field:

Vision and Strategic Thinking: "Successful leaders have a clear vision of where they want to take their organization and the ability to think strategically," illuminating the path to long-term success. This trait is pivotal in recognizing opportunities and anticipating future challenges.

Emotional Intelligence: The capacity to "understand and manage emotions, both in oneself and others," is a defining quality of accomplished leaders. It allows for cultivating strong relationships, empathic understanding, and the adept handling of collaborative efforts within the corporate realm.

Adaptability and Resilience: In an ever-evolving business environment, "successful leaders need to be adaptable and resilient." The capability to steer through change, embrace novel ideas, and recalibrate strategies is indispensable for sustained leadership.

Combining her strategies with her ethos, Pamela offers more than advice; she provides a blueprint for aspiring leaders, particularly women, who aim to scale the heights of their professions and effect meaningful change within their industries.

Through the Executive Lens

Navigating the shifting currents of the banking industry, Pamela's tenure has coincided with considerable change, particularly in the composition and empowerment of its workforce. Reflecting on the evolving landscape, she offers a nuanced take on the progress and the hurdles yet surmounted.

The banking landscape has been reshaped by the steady advance of women into roles once dominated by men. Pamela observes a palpable increase in gender diversity:

"There has been a noticeable increase in the representation of women in the banking sector."

This change is not just in numbers but also in the positions held, with a more balanced presence now evident across all levels of the hierarchy.

Moving up the ranks is no longer a rare occurrence for women in finance. Pamela notes a cultural shift within the industry, she sees organizations recognizing the inherent value in nurturing diverse leadership teams, a shift that has resulted in more women in prominent positions of influence.

"Women are now being given more opportunities to take on leadership roles."

Behind these changing tides are deliberate initiatives designed to foster an equitable environment. "Many organizations have implemented supportive policies and programs to promote gender equality," Pamela points out. These have been crucial in creating a workplace that invites women in and encourages their growth and leadership.

The conversation around gender parity has also taken center stage, with Pamela highlighting the role of advocacy: "There is now a greater awareness of the importance of gender diversity and equality in the banking sector." This awareness has catalyzed discussions and actions aimed squarely at dismantling the barriers to equal opportunity.

Moreover, the emergence of robust support networks has been a boon to women in the industry. Pamela underscores their significance, "Women in banking now have access to a wider network of support." These networks provide the mentorship, resources, and camaraderie necessary to navigate the corporate landscape.

Pamela is clear-eyed about the ongoing challenges, acknowledging that "women continue to face challenges such as unconscious bias, gender stereotyping, and work-life balance issues." Yet, the transformation she has witnessed over the past two decades gives her hope. It's a hope for a continued march towards an industry where gender equality is not an aspiration but a reality and where the banking halls echo with as many female voices as male.

Written by: Jeremy Chapnick

Photos by: Raymond Chan