Spotlight on the Finance Committee

November 21, 2024

Building a self-sustaining source of funding to support the FWA’s mission 


The FWA runs myriad enrichment initiatives and networking events – from the Annual Summit and International Business Conference to the Pacesetter, Wall Street Exchange, financial literacy, mentoring and Back2Business programs. None of this would be possible without the Finance Committee, which monitors the operational costs of the association and manages the organization’s endowment, among other functions.


When Carol Chan joined the FWA, she quickly identified where she could make a difference, given her knowledge and expertise in pension and endowment investing across multiple asset classes. Sherree DeCovny, co-chair of the Marketing & Strategic Communications Committee, talked with Carol about her professional background, why she joined the FWA, her role as assistant treasurer, and how she has benefited from her membership.

Sherree: Carol, please tell us about yourself and your professional background.


Carol: I’m originally from Hong Kong. My sister is a doctor, and my brother was trained as an engineer, so my tiger parents wanted me to be a lawyer. However, my interests lie elsewhere. I enjoyed economics when I was in school, so I ended up majoring in business in college.


I started my career thinking that I would become a CFO, but a friend suggested that I should consider becoming a CFA charterholder. As I studied for the CFA exams, I found that I enjoyed doing research and analysis. After I did my MBA at the London Business School, I had the opportunity to change my career path and became an investor.


Currently, I’m the deputy chief investment officer at EY. I manage the retirement plan investments for over 92,000 active and retired staff and partners in the firm. During my tenure with EY, our retirement assets have grown from $8 billion to over $27 billion.


I love being an investor because the market is very dynamic. I’m always learning new things and meeting smart people. Over the years, I’ve honed my skills in the public markets, and become a subject matter expert on asset allocation, risk management while also being able to make informed decisions on private markets and alternative investments. I believe being well rounded in a variety of asset classes has helped to make me a better investor. 


In addition to my day job, I leverage my investment experience to help the FWA and two other nonprofit endowments, which focus on empowering women, environment/conservation and STEM respectively. It’s my passion to make a difference for others and in my communities. 


Sherree: Why did you decide to pursue a leadership role in the FWA?


Carol: When I first joined FWA in 2020, I intended to become a mentor for Baruch College and Seton Hall students. When I discovered that the FWA had a small endowment fund, I realized that I could leverage my work experience to help the organization grow the fund. To me, that’s a great way to give back. 


I was excited to join the Finance Committee as an assistant treasurer, which is a board position, because I believe in the FWA’s mission, and all our activities require funding.


Sherree: Please tell us about the Finance Committee and your role within it.


Carol: The Finance Committee meets monthly to discuss the FWA’s financials. Sometimes we collaborate with other committees. For example, we worked with the Operations Resource Committee (ORC) to modernize the FWA’s operating manual.


When I first joined the Finance Committee, we were working with a financial advisor, who in my opinion wasn’t serving our needs. I spoke to the other committee members, and we came to the consensus that we should do an RFP to solicit candidates from several firms. That was a heavy lift on my part. Ultimately, we hired our current financial advisor, who is from J.P. Morgan Private Bank.


Sherree: How have you benefitted from the FWA personally and professionally? 


Carol: I was late in realizing the benefits of having mentors and sponsors in my career, so when I joined the FWA, I participated in the Member2Member mentoring program. I was paired with a board member who had years of financial services experience and had just retired. She helped me with some challenges that I was facing at work and gave me good career advice. I’ve learned valuable leadership skills from fellow board members, and I’m grateful for the relationships that I have developed through the FWA.


Having been a mentor for the Baruch College and Seton Hall students has been personally rewarding. I came to the U.S. as an immigrant. I like to share my career, life and cultural experiences with minority students so they can benefit from the lessons I’ve learned over the years. For example, Asian women tend to keep our heads down, do our work and build technical skills. However, our contribution isn’t always recognized. I learned that you have to make yourself visible. I always encourage the students not to be shy in group settings and use their internships as opportunity for practice. For example, they should speak up at the beginning of meetings so that their presence is noticed, be the first to share ideas, and build relationships early and often.


Sherree: What would you like to see the FWA do in the future?


Carol: The FWA was originally established by women on Wall Street, but the organization’s mission is to advance women across the entire financial community. I would like to see our membership expanded to include women in finance functions across all industries. I would also like us to survey our constituents periodically to ensure that we offer events and programming that keep our members engaged and enable them to build skills to advance their careers. 


Sherree: What advice to you have for other members in terms of getting the most out of their FWA membership?


Carol: Being a member of a professional association is like managing your career. How much you get out of it depends on how much you put in. I’d like to see our members become more active in our many standing and programming committees, e.g. Fintech, Impact Investing. It’s a great opportunity to build skills and expertise, and network with likeminded women. 

From Courtside to Connections: FWA’s Unforgettable Day at the Liberty Game

July 24, 2025
The roar of the crowd, a Liberty comeback win, and the connections sparked in the owner’s suite made July 13 a day that perfectly captured the spirit of the Financial Women’s Association. FWA members and friends gathered at Barclays Center not only to watch an exciting WNBA game but to celebrate community, inspiration, and collaboration. From courtside cheers to suite-side introductions, the atmosphere was electric as conversations sparked across every corner of the room. It was a chance to build new relationships and strengthen existing ones while enjoying world-class basketball. Moments That Mattered What made the day truly memorable was more than the final score. It was the opportunity to connect with leaders, colleagues, and friends in a unique setting. As Laura Smith Dunaief, FWA Wall Street Exchange Co-Chair, shared, “So much fun! Great networking and an exciting game!” Nina Batson, FWA Past President, summed it up perfectly, “Another great FWA event!” One first-time FWA attendee said, “It was my first FWA event and I left inspired and energized by the incredible women I met.” The event would not have been possible without the leadership of Keia Clarke, CEO of the New York Liberty, the support of Robert Windrem of NetsDaily, Programming Committee Chair Patti Domm, FWA Executive Director and COO Alissa Desmarais, and the talented photographer Leya Yusupov who captured the day’s energy.

Joele Frank shares Strategic Communications Career Opportunities with Wall Street Exchange

July 22, 2025
During week 4 of the Wall Street Exchange Program , participants were engaged in a highly interactive session about career opportunities in Strategic Communications (StratComms), a field with which only 50 percent of the interns were familiar. Heather Wallach and Jordan Resnick from Joele Frank shared that, for those with a passion for storytelling and writing and with exceptional attention to detail, StratComms offers an opportunity to flex those skill muscles by helping firms manage crises, communicate clearly, and develop company narratives. While many firm relationships might begin with transactional engagements, they often evolve into long-term partnerships.  StratComms requires coordination and cross-communication with other partners that form a firm’s advisory circle, such as Investor Relations and Public Relations firms. This makes relationship-building and other interpersonal skills valuable attributes. While a degree or background in finance is not required, Jordan Resnick shared advice for those interested in entry level opportunities. She recommended following business news platforms to learn and stay current and writing a cover letter that expresses curiosity and interest in the field. The WSE Committee extends its gratitude to Joele Frank and its speakers for an insightful session and for their support of FWA and the Wall Street Exchange Program.

Voices From Red Bank: Two Nights of Connection

July 17, 2025
Our Tastes of New Jersey series continued earlier this month with two dinners at Monticello’s in Red Bank on July 9 and July 12. Both evenings reminded us why these gatherings matter: authentic conversations, shared stories, and the chance to connect beyond titles and LinkedIn headlines. As one attendee said: “Absolutely fantastic evening. Each of you have such interesting backgrounds and experiences. It was a pleasure.” – Maggie Kriebelt The discussions covered everything from work-life balance to travel and even astronomy, creating a space where members could learn from and inspire one another. “Such a nice evening. A pleasure dining with all of you.” – Debra Curran Many thanks to Past President Nina Batson for making these evenings possible: “What a fantastic time. Thanks to Nina for facilitating it.” – Susan Aufiero-Peters We are bringing this same energy to Summit tonight, with Clinton and Westfield coming up soon. Join us at the table...

FWA Leaders Visit the Consulate General of the United Arab Emirates

July 16, 2025
The Financial Women’s Association had the great honor of visiting the Consulate General of the United Arab Emirates (UAE) in New York City. We were warmly welcomed by Her Excellency Amna Ali Hamad Bin Zaal Almheiri and her team, who graciously shared their time and insights on the UAE’s remarkable journey of economic development, visionary leadership, and global engagement. Our visit marks the beginning of preparations for the FWA’s 2026 International Business Conference , which we are thrilled to host in the UAE next April. We extend heartfelt thanks to Her Excellency and the Consulate for their generous support and to Elynore Moran for her seamless coordination and professionalism. Each year, the FWA’s International Business Conference explores a region where fundamental investment and business opportunities are emerging. Since 1978—when we were one of the first U.S. delegations to visit China after its reopening—FWA has brought delegates to more than 30 countries across six continents. In every destination, we meet with senior government officials and business leaders to gain firsthand insights into economic conditions and policy strategies that shape global finance. For nearly five decades, the IBC has empowered our members to deepen their understanding of international markets and bring that knowledge back to their careers, companies, and communities in the U.S. As we look ahead to 2026, we are excited to spotlight the UAE’s dynamic role in finance, technology, and global diplomacy—and to further cultivate cross-cultural dialogue and professional exchange.
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