Spotlight on the Finance Committee

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. 

Women’s History Month: Seventy Years of Change and the Women Who Refused to Wait

March 17, 2026
by Robert Brown Every March, Women’s History Month invites us to reflect on the women who challenged expectations, opened doors, and changed the course of industries that once excluded them. For the Financial Women’s Association, that reflection is personal. As the organization celebrates its 70th anniversary, the story of FWA mirrors the broader story of women’s progress in finance. What began in 1956 with eight determined women has grown into a global community that has helped generations of women enter, navigate, and lead in an industry that once shut them out. Those eight enterprising women did something quietly radical. They were working inside investment banks and financial institutions at a time when their talent was welcome, but their presence in leadership circles was not. The established associations of the day did not admit women. Access to the conversations, relationships, and influence that shaped the industry flowed through rooms they were not allowed to enter. So they built their own.

Building a Community in Florida

March 12, 2026
Something special is taking shape in Florida. Earlier this week, women from across the state gathered in Palm Beach Gardens as the FWA Florida Committee hosted its inaugural in-person event at DSM Capital Partners in celebration of Women’s History Month and International Women’s Day. The program featured a forward-looking conversation on AI and technology in investing, followed by an interactive session on personal branding and executive presence led by FWA President Albana Theka and Florida Committee Co-Chair Marie-Helene Kennedy-Payen. Connections began the evening before at a dinner that set the tone for a day filled with energy, collaboration, and meaningful dialogue. By the time sessions began, the room already felt like a community. That’s what the FWA does best. Special thanks to Florida Committee Co-Chairs Marie-Helene Kennedy-Payen and Kari Desai, DSM Capital Partners for hosting, and all who joined. “Nothing beats the power of community and human connection. It was incredible to see women from across Florida come together for conversations that were insightful, energizing, and genuinely fun.” - Marie-Helene Kennedy-Payen 

From Ideas to Impact: The Role of Commitment in Leadership: A Message from FWA President Albana Theka

February 26, 2026
One of the things I value most about the Financial Women’s Association is the creativity of our members. I hear so many thoughtful ideas. New programs. Fresh perspectives. Ways we can continue to grow and evolve as an organization. That energy is a gift and it tells me people care.  At the same time, one lesson I continue to learn as a leader is that ideas are only the beginning. What truly moves an organization forward is what happens next. Often, when an idea is shared, the natural follow-up is a simple question. Who would like to help take this forward? Sometimes there is immediate enthusiasm. Other times, there is hesitation. And that moment is important. It’s not about pressure. It’s about clarity. Many of us are balancing full careers, families, caregiving responsibilities, and personal goals. Capacity looks different for everyone and it changes over time. Being honest about what we can realistically commit to is part of good leadership. The most impactful ideas are the ones that come with a willingness to stay involved. That involvement doesn’t mean doing everything alone. It means helping shape the vision, building momentum, and partnering with others to bring it to life. Organizations thrive when ideas are paired with ownership. When members feel empowered not just to contribute suggestions, but to help guide them toward execution. Even small steps of follow-through create momentum and trust. At FWA, we welcome ideas. We value curiosity and innovation. And we also believe that commitment, in whatever form is realistic for you, is what turns good ideas into meaningful impact. When vision and follow-through come together, everyone benefits. That’s how we continue to build a strong, supportive, and sustainable community.

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