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KD HALL: Welcome to Influential Women of Washington State.
I'm KD Hall.
Money has always had an imperative role
in decision making.
Today, we'll be discussing with Kim Vu, a regional leader
at Bank of America, about the power that comes with it.
KIM VU: Work doesn't happen I think effectively
and in a really meaningful way if you just deliver money.
Like I think we're talking about money
and we're talking about how you leverage a resource like money
that really moves and transforms and can change communities.
And I think it's really about what can we
do with our partners and with our key influencers
to really move the dial on key issues
that are happening in our community versus this mindset
of two or four that is really from a structural standpoint
of when we look at institutional and structural racism
and a lot of different things that are happening
in our communities today.
It's that mindset of two or four that I think
prevents us from really getting to the solutions
that we need to really create change.
And it's changing that mindset and really
thinking about how do we collaborate and work with.
Because this is really about rising all ships
and everybody working together to
empower everyone at the table.
And so if it means that we need to get a bigger table then
let's get a bigger table.
KD HALL: Absolutely, I like that.
And so I hear transformation.
And so when I think about transaction
I'm just thinking about going into a bank,
depositing money in a bank, getting my receipt
and leaving out.
When you use the word transformation,
it's so huge that you really can't put just
like a word on it.
I feel like it's such a big thing that it's something
that's different to everyone.
So when you talk about transformation,
what does that mean to Bank of America and then
what does that mean to you?
KIM VU: Yeah, you use the example
of like walking into the bank and having
this transaction occur between like a deposit or a withdrawal.
But I think for us, we're really trying to think about how do we
connect with our customers and our clients
and also our community partners around really delivering
more than just those basic transactions, right?
One of the programs that we have called Better Money Habits is
really helping us sit down with our partners
and our customers to say, how else can we help you as you
walk through your life stages?
Whether it's buying your first home or your first car,
if you're looking at retirement or you're
looking at savings for your family.
How is it that we can actually start
to have those conversations and really walk
with you through life to really help
you get set up for success?
And that ranges-- like there's so many different things when
you think about that.
And so all of our frontline staff
are well versed in Better Money Habits.
We use Better Money Habits as a way
to go out into the community and volunteer
with a lot of our partner organizations
to deliver financial education to ensure that everybody feels
equipped to be able to navigate through their personal
finances.
KD HALL: Very nice.
So it sounds like you're hitting communities of individuals--
did you say customers-- and you're also meeting communities
at large.
Now, one of the things I love about Bank of America
after meeting you a few years ago
was the fact of your impact with the young people,
with high school students.
Talk to us a little bit about your high school programs.
KIM VU: Yeah, so we work quite a bit with youth.
One, because I think they are our future,
and I think it's really important
to be able to invest in the power of our future leaders.
And we do that in a couple different ways.
One of the ways that we do this through our Student Leaders
program.
The program has been around for over 14 years,
and every year, every summer, we select five high school juniors
and seniors and we give them a paid eight week summer
internship.
But interesting enough, the paid internship is actually with us.
It's actually to go and work with our community partners
and community nonprofit organizations
so that they can learn about what it really
means to be a community leader and go in and work
with the executive director, work with the program
officer or the fund development team, meet the board,
and really understand the inner workings of how
a nonprofit organization works and what it means to be
a leader in the community.
And whether they decide to take that experience
and work in business and apply that ethos that they learned
from nonprofits in their space, or if they
decide that they're going to go and be a community builder
and become a nonprofit leader after college,
we really just want to be able to plant that seed
and really invest and encourage them to really think
about the bigger picture.
That you can do well by doing good.
KD HALL: I understand that in banking--
I worked in banks before too like all throughout college
actually-- and in banking, certain roles in banking
has been male dominated for years.
So talk to us about being a leader that started in banking
and then emerged up to a very high level of leadership.
What is that like to be that type of leader
in an industry that was male dominated for so long?
KIM VU: Yeah, when I first started out after college
I started out in wealth management private bank,
and it was a very I think it was such a great experience being
able to start out early in my career learning
about the business, being able to manage a balance sheet
and manage a team and really build out a team
because the private wealth management program
that I led actually didn't exist within
the financial institution that I had worked for.
So really being able to build a business
line from the ground up was an incredible experience.
It did not come without challenges.
I think the challenges came in that when
having to look outside of my organization
and try to figure out those like how do we build this program
and what do we need to do, a lot of it
meant that I needed to go into the larger industry of wealth
management private bank and seek out the resources
that I needed to really learn.
But in that process, a lot of times
felt very isolating because I'd walk into a room
and at the time I was in my early mid 20s,
and I tended to always be the only female, easily
the youngest person in the room, and generally the only person
of color in the room.
And so I always felt like I had to walk into a room
and qualify myself in a way that I
think most guys, particularly, don't have to do
when they walk into a room.
I mean even 20 years later, a lot's changed since then.
I think the industry has evolved quite significantly.
But still, I think just for Kim you know as I walk in--
we joked that I look young--
and I think it is, it's a challenge.
I walk into a room even today, even
with 20 years under my belt, and I still
have to qualify myself to be able to say to folks like hey,
actually I've been in the industry for a long time.
I know what I'm talking about.
And I didn't just graduate.
KD HALL: That's a good point.
So like what does that do to women in a field like yours?
What does that do to like more of their self-esteem
or what does that do to their confidence when they're sitting
at the board table or they're sitting in these very
important meetings and they have to come in
with that extra feeling to have to qualify themselves
before even answering a question or before even
giving a recommendation.
Sure, yeah.
I think it comes down to--
I credit coming from a family who are immigrants, refugees,
and we fought to find our space and our place in this country.
And one of the things that I really learned for my parents
and specifically my dad was he was a fighter pilot.
And so one of his--
for me, the thing that I really appreciate
about him is he always said like a fighter never says no.
And so he built in me this instinctive
being really, really just determined
and not backing down and being really
determined to be able to push through when situations--
I'm put in situations where maybe I'm not the typical face
or person in the room to sit there
because I know that I worked hard to get there, right?
Because if I'm the first person there, guess what that means?
That actually means there will be more people who
look like me because of it.
So even though it feels really uncomfortable to be
in the room, I tell myself I need to stay in the room.
And stay in the room and to speak up
and to be able to make sure that as I'm coming through the ranks
that I'm leaving the door open behind me.
And also, I think speaking up more
about all the personal experiences
that I've had I think helps identify
who those allies are in the room too,
because I think the industry didn't change because we didn't
have the conversations.
We had the conversations.
We identified who the allies where.
A lot of folks had to have those conversations about like,
this is not the type of environment or workplace
that we want.
How do we create a workplace that feels really inclusive
and also brings everybody along?
And so I think coming to the bank
has been really incredibly refreshing and also
really empowering.
To come to an organization that is truly committed.
When they say we're committed to diversity and inclusion
within the workplace and also out in the community, that's
the part that I feel really, really
proud to be able to work for an organization that does that,
because the investment is there.
We're having those conversations.
We're building out the programs.
We're building leadership tracks.
There's lots of different elements
that are being built in to ensure that women are
in positions of leadership making really
important decisions within the organizations that
are impacting employees, impacting our communities,
impacting our customers and our clients.
We didn't have a workforce of over 50% women by accident.
We don't have-- those are all intentional things.
KD HALL: That's nice.
KIM VU: Yeah, so the organization's
over 50% women in the workforce.
We're over 40% of women in the management teams.
KD HALL: And that's important, because a lot of times
you'll hear organizations and they're like yeah,
we're like 80% women.
And we're like, OK, let's talk about those roles.
What roles are they in?
And so that's very important.
KIM VU: And also I think the other part
that we're really like leading way ahead
is actually at the board of directors level.
KD HALL: Let's talk a little bit about that, because there's
been a lot of research-- it's not
even research-- it's a lot of talk,
and it's obvious about women sitting on boards of directors.
And we had a really excellent one
a few days ago that talked about being on a board of directors
and being a chair of it.
So talk a little bit about what is
Bank of America doing to empower more women to want
to be on board of directors.
Not only want to be on it, but being able to give them
the tools to be successful.
KIM VU: Sure.
So I think before we like I think it's always important
before you talk about it, you also need to be modeling it,
and we're definitely modeling it.
Our board of directors has over 30%
women, which is double the Fortune 500 average,
as well as double the financial services average.
And so we're way ahead and that doesn't
mean that we're going to stop.
It's not like we said 30% and we're done.
Our executive team is really committed to saying hey,
how do we continue to increase these numbers
and ensure that there's a pipeline and a track for more
and more women and people of color to ascend those ranks.
What we're doing to help the larger
conversation and the larger community,
here in Seattle we work with an organization called The Board
List.
And The Board List is focused on getting more women
on corporate boards.
And so we partner with them to provide programming
for women who are seasoned in their careers,
they're really ready to step into those roles.
They've done the slew of nonprofit or boards.
They've done the slew of I think civic boards and commissions.
But really, how do you get women on corporate boards?
And so we're working very closely with them
to be able to provide the programming
and creating the access for women
who are more senior in their careers
to start to think about how to start creating
those conversations and positioning them
to be asked to join boards.
And a lot of it is really like for women to say,
I want to be on a corporate board.
KD HALL: Absolutely.
So you hit on so many things there.
We could talk forever.
Male ally ships.
I heard you use the word ally.
And it sounds like to me that your father was
one of your first male allies.
Now, was he in the military?
KIM VU: He was.
So my dad, before my parents immigrated here,
he was a fighter pilot in the South Vietnamese Air Force.
So he-- because of the role that he played within the war,
he had to escape Vietnam, otherwise he
would have ended up in a reeducation camp.
And so when my dad immigrated here and then met my mom,
we started as a family in Texas.
And that's kind of where a lot of things started for us.
And spending time with my parents early on
and watching them struggle to build a family
and build community really that's the impression that it's
left on me when I think about in my position
now, how do I help build community
and build that strength for so many families
who struggle just like my family did.
And how do we make sure that--
that lens I take with me always through all of my work
to make sure that like so when I go back and think about that 2
and 4 versus with, that's rarely where it comes from
is from that experience of growing up.
KD HALL: So it's your upbringing.
KIM VU: Yeah.
KD HALL: So it's really nice to be in an organization
that really aligns with your character and who you are.
And so when you hear the terminology male allyships--
we talk quite a bit about the importance of women
being at the table, being on board of directors,
having that representation.
But when you think what the word male allyship, what does that
mean to you?
KIM VU: Yeah, male allyship is really
about men who are willing to step up
and say, you know what, I want to hear about your experience,
I want to know what's going on.
How do I use my privilege to move more women forward?
How do we pull more seats to the table?
And I think that's really--
we talk about sponsorship a lot--
mentorship and sponsorship.
I think the biggest change maker that men
can make in this conversation is really
looking at that role of sponsorship,
because sponsorship, those are the people
who opened doors, who can elevate people
to other opportunities.
And so I think male allies to better understand
the struggles that have occurred, how do we break down
some of those barriers, and then actually move women
into those positions and into those roles.
And also, I think being really visible, right?
And talking about those experiences of here's
how I did it, so that other guys can hear it.
I think that's the other challenge too
is I think there's a lot of men who say, I want to do it,
I don't know how to do it.
And they may come to a woman and say, how do I do this.
And I think that's great to be able to start
that conversation.
And I also think it's really important
that other guys are also saying, hey, here's
how I did it, to other guys.
And here's what you can do too to really help move and change
the environment that we're in.
And I think we're starting to see that, right?
KD HALL: Which is nice.
It's a nice place to be in.
KIM VU: Yeah, and I think every single time--
I think when we look back at all the different times in society
where there's been huge upheaval,
the needle moves a little bit more, right?
And so right now we're in that stage where it's moving.
The line is going to move.
And the line is moving.
And that's where I'm really hopeful.
I don't think we'll solve it.
KD HALL: No, not in our lifetime.
KIM VU: I don't think it's going to.
I want to think that it will, and we continue to like you
and me and everyone else, we continue
investing making sure that that continues
to like that line continues to move in terms of what
the expectations are and how do we create
a more inclusive society.
But I think that's where we have some opportunities to really--
we're in the moment right now, let's take advantage of it.
KD HALL: That's the great point what you said earlier
about making sure that we're leaving that door behind us
open, and then that youth piece.
I think it all ties together.
We may not see it in our lifetime,
but man, wouldn't it be great for these new babies
to be able to see it in their lifetime.
KIM VU: Planting the seed, right?
One of the things that--
as part of keeping that door open is I think--
we talked about sponsorship, but mentorship, right?
And spending the time with young people to share your stories.
One of my favorite memories of spending time with students
was actually at an elementary school.
It was on a career day.
And they were fourth graders, fifth graders,
and I was telling them about my job, my career.
And I said, you know, if you do x, y, and z,
you can go to college and you could
do whatever it is that you want to do if you set a goal.
And I remember the little girl who was sitting right
in front of me.
She looked up at me with these huge eyes and said,
even be the President of the United States.
And I just looked at her and I said, yes you can.
And then the boy next to her said,
girls can't be President of the United States.
And I looked at him and said, actually they can.
And he was like what, really?
But the look on her face I will never forget it,
because it was like she realized that it was a possibility.
And all the teachers that were standing in the back they
were all like waving their arms and like silently cheering.
But it's things like that of being
able to plant those seeds now, because one day,
maybe not in our lifetime, but who knows,
maybe she will be that next female President.
JEAN FLOTEN: I would say to any young woman,
follow your passion.
If you can see it, think it, you can be it.
And don't let anybody stand in your way.
LIZ VIVIAN: I would say, be you, and be
in service to making the world a better place the best way
that you can.
DR GAYLE COLSTON BARGE: Love yourself enough
to give yourself permission to be the most powerful, engaging,
dynamic leader that you can be.
YOSHIKO HARDEN: What I hear from people
that I speak with women is I try and help them
silence that inner critic.
So a lot of what they say to themselves is very negative.
And so being aware of that.
So kind of you know silence the inner critic if you have that
or whatever that inner voice is telling you, that doubt,
and standing your own integrity.
And work collaboratively amongst diverse teams.
I think that's-- when we can galvanize that,
we're very powerful collectively.
KD HALL: I've been playing around
with this idea in the creation of this show about women
having a seat at the table, or us saying screw
that, let's create our own damn tables.
So when you hear that, what comes to mind?
Is it, do we need both?
YOSHIKO HARDEN: I would say it's a both.
Yeah, I think you need multiple tools.
It's a complicated, complex issue,
so there isn't going to be one solution.
I think it needs to be multilayered.
So I would say, own tables, integrated tables, allyship
is really critical.
KD HALL: Thank you.
DR GAYLE COLSTON BARGE: I would say, just get
an entire furniture store.
Don't just have a table.
Have different levels of chairs around so the learning
can happen across generations.
Have different rooms on the side where
you have more comfortable furniture for allies
to sometimes go into when they need to regroup if they're not
doing what they need to do.
And also have that isle right down
the middle, so that whenever someone has had enough
and they need to step in for a time of respite,
to be able to refresh and then go back to the table,
they can do that.
LIZ VIVIAN: I like that vision of kind
of an iterative process.
I was going to say, changing the menu.
That however we set the table, whether we're
joining a table that exists, that it's like authentically
showing up and driving the conversation that's happening,
regardless of who else is in the room
and being really powerful in doing that.
KIM VU: We can't look to the same solutions of the past
to think that we're going to come
up with the solutions of the future
I mean, there's that saying you know like what's
the definition of crazy right, like doing the same thing over
and over again and expecting a different result.
And I think we're in a place right now
where lots of transformation is happening.
Transformation doesn't happen unless you
start to try different things.
I think it's one, finding a seat at the table at the tables that
exist.
That might just mean like furniture change, right?
We just need to get a bigger table, right, and add
more seats to the table.
And it's also, where have tables not
existed for women, for people of color,
for individuals, for the LGBT community,
for individuals who have disabilities.
If the table doesn't exist, then let's create it.
And I think also, how do you then also bring
those tables together, the existing ones and the new ones,
because I think that's where the bridge building needs
to happen so that the power in them, the privilege that exists
in the existing tables can be transferred and shared
with the new tables that are being developed.
KD HALL: I really like that.
I wish I had my phone so I can Tweet it.
No, I like that, for real.
That was good.
And so, you know Kim, you were one of 18 women
that we selected as part of this TV series, part
of Bellevue College.
We selected you to be an influential woman of Washington
State.
So when you hear that terminology,
and you think about the reason why we brought you
on here which is because money is power,
what would you say to that future generation?
KIM VU: I would say, influence is really about looking at--
I think everybody has power, everybody has power.
I think we're born with a certain amount of power.
It's how we apply it right?
And also, I think there's so much
power in sharing stories and being really authentic
and allowing ourselves to be vulnerable.
I think where status quo has existed
for us is because there wasn't everybody
assumed everything was fine because there was storytelling
that was happening.
An example I can give you of that is I
think when we think about Asian-Americans,
and you look at statistics that say oh, Asian-Americans
are fine.
They're doing really great.
They're doing well in school.
Financially they're doing great.
Monolithically as an Asian as a whole,
as a community as a whole, they're doing fine.
We don't need to worry about them.
They don't need resources.
Maybe we should put quotas on them
going to Ivy League schools.
That's been a conversation which you know is challenging.
And I think when you look at something like that,
the importance of being able to tell the stories that exists
even just within the Asian-American community,
because there's so many different cultures that exist
within the Asian-American community,
where even if you just take a segment of the Asian-American
community--
Southeast Asian, Native Hawaiian, Pacific Islander
community-- if you actually break that down, you'll
see that the numbers actually tell
a much different story than what we're being told at a larger
scale, which says, actually, there's
lots of issues around health, there's
lots of issues around income disparity,
there's lots of issues around education and access
and housing.
And so, when you look at it from that perspective,
we're actually leaving behind a huge swath
of our Asian-American communities
that aren't getting access to services and resources,
because we're choosing to look at the community
as a whole versus really disaggregating the data
and desegregating the information to really
be able to serve the community in the way
it really needs to be served that it will only happen
if more of us tell our stories.
So being Vietnamese and being part of the Southeast Asian
community, I think it is really important for me
to be able to share my story and say, hey, you know what,
actually I'm a daughter of immigrant refugee parents
and this is what our experience was like to build a family
and build community here and the struggles that created.
And what's possible.
That it's not just because those barriers are there
it doesn't mean that you can't succeed.
But let's talk about it so we can actually figure out
how to remove those barriers and make it easier
for people to succeed here.
KD HALL: I like that.
I like that very much.
Is there anything else you want to tell
to the future workforce?
KIM VU: Oh gosh, I think a lot of it
has to do with find work that you care about.
Whatever that might be.
But bring your passion to your work
and you will be able to create all kinds of change.
I don't think you have to actually work
in community relations or work in social impact
to create social change.
You can create social change in so many different places.
And it's just a matter of aligning your passion
with your work.
And so do what you love.
KD HALL: Thank you for joining us in our Exploration
of Financial Independence.
We hope you're encouraged and inspired by Kim Vu and women
like her leading our financial institutions across the nation.
Join us for future episodes of Influential Women of Washington
State to hear more discussions from extraordinary women.
Until next time, I'm KD Hall.
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