Give to gain: empowering women leaders to thrive and flourish

Astrid Ludin, Deputy Commissioner, Financial Sector Conduct Authority of South Africa

As the international community reflect and pause to celebrate and acknowledge the impactful contributions of women to the economy, society and communities under the theme “Give to Gain,” AIM had a conversation with a leader who has meaningfully contributed to the sustainable growth and transformation of the pensions and financial services sector in South Africa and globally. Astrid Ludin is the Deputy Commissioner at the Financial Sector Conduct Authority of South Africa and President of the International Organisation of Pension Supervisors. Reflecting on how she resonates with the international women’s moth theme, she said;

“For me, the theme emphasizes that by supporting each other we all gain, because we need to ensure that the voices of women are strengthened in organisations to change the conversation. We all gain from the success of other women in the industry, because they chart a path that others can follow and are able to motivate for changes that are necessary for the advancement of other women.”

For women to thrive and flourish, organizations should intentionally create safe and energizing spaces. Astrid adds that, such spaces require organizations to foster inclusive work spaces that builds the confidence of women.

“Safe, energising spaces where women can thrive require the intentional shaping of culture, leadership, and daily work experiences for women. This includes fostering environments where women are encouraged to speak openly, challenge ideas and can build their confidence; have access to flexible work environments that acknowledge caregiving roles and different life stages, without penalising ambition or progression; receive fair pay and unbiased promotion processes and have access to forums and networks where they can connect and support each other.”

Inspiring regenerative change: a critical mandate for women leaders

As the insurance business landscape evolve and rapidly change, a regenerative approach is essential now for women leaders. As such women leaders should prioritize skills and capabilities that enable insurance corporate systems to thrive and be resilient. Astrid strongly urges women to promote insurance as a core element of socio-economic transformation.

“Women leaders should see and promote insurance as part of the broader social, economic and environmental ecosystem and encourage the design of products and strategies that build resilience, financial inclusion and a sustainable future. This means understanding the importance of connecting commercial performance with societal value, customer trust, and community wellbeing and providing purpose-driven leadership.”

She called on women leaders to “embrace complexity, uncertainty, change and continuous learning to be able to lead and motivate diverse teams, women need to demonstrate self-awareness, cultural sensitivity and compassion and should encourage collaboration and partnership, not only within organisations, but also across the ecosystem.”

“Women leaders need to be able to speak confidently and initiate strategic conversation to challenge the norm, bias and extractive models.”

Empowering the next generation of women leaders

As a beacon of inspiration to young women in South Africa and beyond, Astrid is actively involved in providing guidance, support and creating opportunities for growth to women at different stages in their career journeys. She shares her journey and invest her time in mentoring women with the main objective of providing them with clarity and strengthen their inner compass.

“I have mentored many women at their request and aimed to provide them with clarity and insight into their strengths, career paths and boundaries. I share my own journey, the successes and the setbacks and insights. I take an active interest in the women reporting to me, look for ways to help address their areas of development, try to provide a safe environment for experimentation and learning, and seek opportunities for growth, stretch and visibility for them. I participate in women’s fora and advocate for inclusive policies within organisations. Ultimately, I seek to empower the next generation of women by believing in them early, providing visible backing and encouraging them to speak and act with confidence,” says Astrid.

Words of wisdom: speak and act without fear

“As women we suffer disproportionately from imposter syndrome. Don’t allow self-doubt to paralyse you – speak and act without fear.”