Chitra Shringare – Business Leader

I’m Chitra Shringare, and this is how I Lead from Within

A veteran and leader in the finance industry, Chitra Shringare is confessedly brutally ambitious. Intelligent, enthusiastic and always wanting to do more, she has a spark that hasn’t gone out over her long and illustrious career of 26 years. If anything, it has surged and spread, inspiring many in the way. One of the few female MDs in the finance industry in India, Chitra believes that if one has the potential, one must fully use it.

My Journey

I was born into a family that celebrates the girl child. I grew up with the same opportunities as my brothers; there was no difference between a son and a daughter. All of us were encouraged to pursue our ambitions and to reach the pinnacle of success in academics and our careers. My family’s unwavering encouragement made me brave. I was fortunate to have such a lovely upbringing. 

I worked at some of the best institutions and always had the support of my seniors. I got a double increment during my probation at my first job and that became a turning point in my career; it propelled me to keep getting better. I also got a promotion while I was on maternity leave. Though I worked throughout my pregnancy, my boss was extremely considerate and supportive. His acknowledgement of my performance and dedication, by way of promotion, was a big morale boost for me. I was rewarded for a year’s worth of work even though I was on a 3-month maternity leave. I really enjoyed my work and these gestures of support propelled me to do even more. These are also some of the best people-management skills that I learnt from the managers with whom I worked in the initial days of my career. 

I was part of the set up team at NSE which was the first automated stock exchange in the country. From there I moved on to ABN AMRO, one of the finest institutions that I worked for over 11 years, making it my longest stint in an organisation. ABN AMRO was very entrepreneurial. I was asked to set up one business, and when that was done, I was given another one to handle. I set up about four businesses within that organisation, from ground up. I worked with some of the finest professionals at ABN and got the support of very senior professionals who got me visibility at global forums, and with global management teams.

Wherever I worked, I put my heart and soul into my work, but I was also very fortunate to get encouraging, trusting and inspiring bosses. They have always paved the way for me to get recognised in the organisations and industry.

What’s Brought Me So Far

> Being vocal: No one is going to come and ask you if you have an idea, or what you’re working on, or what your accomplishments have been – you’ve got to talk about you and your successes yourself. Even more so as a woman. As one of my bosses would say, “Only a crying child will get milk.” I’ve always been vocal. I am the CEO of my own life and career, and being vocal about myself helps me steer my life in the direction I want to go.

> Grabbing opportunities: Always raise your hand when your boss asks who wants to lead/be on the new project. Once you take on the responsibility, you can figure out how to do it with people’s help. I’ve often done that. I’m not shy at all. I’m extremely bold and brave. Grabbing opportunities has been crucial in helping me get ahead.

> My support system: My father, mother, husband and in-laws, all chip in to help me every time I need help. My father, especially, would happily come over and take care of my son when he was young and I had to do late nights at work, or when both my husband and I were juggling demanding careers. My support system at home would take care of everything, and not let us take any unnecessary leaves. Hold on to your people, I’d say. As women we need a big support system. And I don’t just mean family and friends – please also invest in househelp and pay them well. This will free up so much of your time and mindspace.

My Role Models

> Late Dr Patil: He was an economist, ex RBI, ex NSE and ex CCIL. A veteran in the finance industry, one could learn simply by listening to him. He was so well versed; he could share stories and examples impromptu, and quote something from his early days that would be perfect for the problem/situation at hand. I revered Dr Patil. He was the MD at the NSE when I worked there. I especially admired how he always, very calmly and positively, looked at all the options available when solving a problem.

> Aditya Puri: former CEO of HDFC, Aditya was my client. Extremely intelligent, bold and straightforward – he doesn’t mince his words. I’m a little like that too, I’m not diplomatic, and maybe that’s why I look up to him even more; I can relate.

> Naina Lal Kidwai: I remember that when I was an assistant manager, Naina Lal Kidwai was the most senior woman in the finance industry. What an aura she had! She was the first woman executive to occupy the corner room at a foreign bank. Hearing her speak was a learning in itself – the experiences and instances that she would quote would prove to be immensely relevant and helpful. She was a real icon for us. And yet so down to earth, humble, and happy to help and guide anyone who reached out to her.

More Women in the Workplace

There has been a huge change in the way women are viewed as a resource in an organisation. When I started to work, and till a long time after, women employees were few and far between. Now that some of us have risen through the ranks, we make sure that we hire/promote more women because they bring great perspective to the team. Women, I’ve noticed, are better workers and managers. They are more efficient, hard working, meticulous and vigilant. But also more risk-averse, which is why it’s best to have a good mix of men and women in a team.

Earlier, there would be a lot of women in the initial levels of an organisation especially in the financial sector. But they’d begin to drop off in the middle-management phase, when they get married or are starting a family. That is not the case today. Or at least, it doesn’t have to be. There are a lot more options and facilities that are now available to women than there were 20-30 years ago. In our organisation, as in many others, we provide 6-month maternity leaves (sometimes extended to a year), flexible work hours, a counsellor to guide them pre, during and post big changes like having a baby, and an in-house doctor. 

Not only women, we also counsel their managers on being cognizant and being there for them, as well as providing support through the many changes a woman goes through in her life, which might affect her career. Now the stance of most organisations is that they WANT women to make it! We want women to stay and be part of our teams and leadership!

My Advice to Young Women

> Master your craft: Be thorough with your work and knowledge of the business that you handle. It’s not enough to know the macro picture, you must be ready to roll up your sleeves and get your hands dirty. You could have the best of degrees but they won’t substitute doing the actual work. Ask questions, work hard, and self-learn till you know everything about the product and the processes. It’s a slow process, there is no elevator, but it’s worth it. Mastering your craft gets you the right recognition, accelerates your growth in the company/industry, and makes you an efficient leader.

> Keep learning as you grow: I’ve gone through tonnes of leadership and training courses throughout my work life. I still continue to learn. You must upskill and upgrade often to keep yourself equipped for the changing market needs. It is imperative to stay relevant.

> Stay up to speed: You need to not only equip yourself with new personal and technical learnings/unlearnings, but also stay up to speed on the market, the competition, and the news. You absolutely need to be in the know.