CHX Women’s Forum Spotlight: Wendy Olson

As fall begins, and we reach the sixth month of the CHX women’s forum, we’re excited to start expanding our reach to other groups dedicated to promoting women in finance. We’ve encouraged all CHX employees to volunteer for and attend presentations and groups for women in the industry. Many of our team have stepped up to the plate already, attending the Women in Finance group meetings at the Security Traders Association’s conference in Washington last month, for example. Others are hard at work identifying organizations to participate in going forward. We are pleased to be able to play a part in opening up a dialogue with and about women in finance.

We discussed the importance of mentoring and engaging in conversations on issues with Wendy Olson, a Surveillance Specialist in the Market Regulation Department of Regulatory Operations, in this month’s CHX Women’s Forum Spotlight. Keep reading to learn more about Wendy’s career path and her insights about the culture in the financial services industry.

What are your main responsibilities at CHX? How long have you been at the exchange?

I joined the Chicago Stock Exchange just over a year ago as a Surveillance Specialist, Market Regulation. I have regular responsibilities related to performing surveillance reviews, but I also participate in special projects, which gives me a chance to take on new challenges, learn and continue to grow.

I am currently developing a historical record of the Exchange’s surveillance reviews, from design documents to most recent assessments of review performance. It’s interesting to locate items and archive them in one location — you get a picture of each of the reviews, and then determine what needs to be done to improve performance. I am also creating and updating policies and procedures for the Surveillance Unit.

How did the financial services industry become an interest for you? What did you do before joining CHX?

Financial services has always been an interest of mine, and I have been lucky to have worked in many areas of the industry, all over the country. Since I began my career on the Options Trading Floor of the Pacific Exchange, I have worked with both small and very large companies, as well as both the retail public and private sector of traders and consumers. I ran a retail trading desk, created compliance infrastructure, audited supervisory and field offices of various financial organizations and rewrote and coordinated regulatory materials and training programs for software implementations.

I took a break from the financial services industry to operate a non-financial-industry-related business and in my absence from the industry, I sharpened my career path goals, which led me to the Chicago Stock Exchange and Market Regulation.

What has your experience been like as a woman in finance? How have things changed over the course of your career?

When I started on the trading floor of the Pacific Exchange, it could be a difficult environment for women. I was one of a handful of women in a room of 500 men. The touchpoints of inequality of the past, related to the gender gaps in pay and ability to climb corporate ladders, in present day have narrowed. I do believe that we still have work to do; however, there has been progress made in these areas.

What advice do you have for young women looking to enter into the industry? And how can those currently working in financial services help?

I would tell young women to have an idea of the career and path that you would like to take, and find a mentor that can assist or introduce you to the way to get there. Having someone to help you focus on and direct you towards your goals is rewarding in many ways. There’s a ripple effect to providing mentorship — this woman today will be someone’s mentor tomorrow.

Women in the industry can and should seek opportunities to be mentors, whether formally or informally. Men can help too. All they have to do is be open to recognizing talents — to assist and mentor women to the best of their ability, without involving any bias.

What do you enjoy most about working at a stock exchange?

I’ve always loved the atmosphere of an exchange. While the Chicago Stock Exchange, today as an electronic exchange, is very different from a physical trading floor with open outcry auction trading methods, the same camaraderie is very apparent. The people are professional, supportive, down-to-earth and enjoyable to work with. A lot of my lifelong friendships began on the trading floor, including Christine [Martuscello, Head of Equity Trading at CHX, who is profiled here].

It takes a certain personality to work in an exchange environment, whether electronic or open outcry. The camaraderie is stronger, the ability for handling stressful situations is more apparent, and the teamwork is more important. As I gained more experience, something I appreciated was that, unlike with other jobs, that pile you have on your desk at market close gets wiped clean every day in trading. Everything starts over new tomorrow. No matter how stressful the day is, it’s gone when the bell rings.

What types of things do you like to do outside of your job at CHX?

I have three wonderful children! My oldest daughter just started grad school, my son is in his sophomore year at college, and my youngest daughter is a junior in high school. Keeping up with my kids — and my one-year-old, overly happy puppy — keeps me running in my spare time!

What are your thoughts on the CHX Women’s Forum so far, and where do you see it going? How has it changed (or how do you think it will change) relationships amongst women in the office?

As an employee, I’m pleased to see CHX start a group for women in finance. It’s a great step forward. As I mentioned earlier, having mentors is really important, especially for women just starting in finance, and an environment like a forum is a great place to find a mentor or group of mentors. At some companies, I’ve approached senior officers who were female in order to assist in my navigation, especially company-specific navigation. In my past life at the non-financial-related company, I participated in women’s groups and the women’s committees of chambers of commerce — it was helpful, because the communication style can differ between groups of women and groups of women and men.

I enjoy the forum and believe that our gatherings are greatly beneficial for all of the participants. Learning about one another is extremely valuable when you may not work in the same department — it brings you closer socially and professionally. Joining forces can provide insight into others’ experiences and backgrounds, leading to the forging of relationships and common bonds.