The Annual Future Leaders Forum, hosted by CFA Society Toronto’s Professional Development Committee, is a popular event among professionals looking to develop their leadership skills. At a sold-out venue in June, industry leaders from BlackRock, RBC Global Asset Management, iA Global Asset Management, Canada Life, and MSCI shared their insights and personal leadership journeys. 

The keynote session focused on “The Path to Leadership” and featured Marcia Moffat, Country Head of Canada at BlackRock. Other sessions at the forum focused on delivering effective presentations to senior leaders, elevating yourself and your team, and mastering the art and science of managing a team. 

We provide our key takeaways from the insights shared by the speakers at this multiple-session event. 

Shift the focus to the team 

A common thread across the speakers was that leadership entails a shift from focusing on individual achievements to highlighting and elevating the team's collective success. Within the team context, the leader's role is to recognize and amplify individual contributions that aided the team. This transition can be challenging, as managing a team requires balancing diverse personalities, skills, and motivations. Effective leaders must learn to foster a collaborative environment where each member feels valued and empowered. By doing so, they create a cohesive unit capable of achieving greater results than any single individual could alone. 

Continuous personal growth 

Personal growth is fundamental to effective leadership. Leaders must continuously challenge themselves, take calculated personal risks, and reinvent themselves, pushing beyond their comfort zones to develop new skills and perspectives. Ongoing self-improvement does not only happen within the workplace context but is often fuelled by active involvement in the community, where leaders can gain fresh insights that enhance their impact. 

Leadership extends beyond managing people; it encompasses inspiring and influencing others. As one advances as a leader, influence and impact naturally expand, requiring the leader to adopt a broader, more integrative approach to management and problem-solving. And as influence expands, it is important to remember that leading by example sets the tone for expectations and behaviours. 

Influence and visibility 

The debate between generalists and specialists becomes particularly relevant as one ascends into leadership roles. Its important that a leader is comfortable evolving into a generalist who can connect the dots across various domains and facilitate holistic decision-making. This ties closely with the skills of influencing others and the shift from focusing on the individual to the team. 

In fact, influence without authority is a powerful tool in a leader's arsenal, enabling them to rally support and drive initiatives through persuasion and vision. Building consensus often involves having "the meeting before the meeting" to secure buy-in and align stakeholders. Visibility is crucial for growing sponsorship, as it allows leaders to prove their commitment and capabilities, garnering the trust and support necessary to advance their initiatives and drive organizational success. 

Communication with senior leadership is key 

Any leader, whether still in development or already proven, will need to learn the skill of effective communication. Effective communication with senior leadership hinges on clear communication and strategic planning. Here are some tips: 

1. Ensure that you convey the right information within the allotted time. Consider your audience's perspective, constantly asking why each piece of information is necessary. Define success by delivering a handful of key messages that support your main points. Start by outlining what you will cover, present your content, and conclude by reiterating the key takeaways. 

2. Knowing your audience is crucial; practice sessions with peers can help you anticipate and prepare for tough questions. If you meet a question you cannot answer, admitting you don't know and committing to follow up is acceptable. 

Build relationships, build a franchise, find a mentor and a sponsor 

To effectively evaluate yourself and your team, it is crucial to find a mentor and a sponsor. They do not need to be the same person. The mentor and the sponsor will provide different perspectives and support you in navigating challenges. A mentor is someone who provides advice and guidance, while a sponsor is someone who believes in your ability and advocates for you. 

At the same time, you need to develop and own your franchise. That means taking responsibility and initiative in driving progress and outcomes. Building a network is key for this: be intentional in fostering connections and managing upward relationships to gain valuable insights and support. 

Managing a team: Set the rules, align the goals 

Managing a team requires setting clear expectations from the start. Know that difficult conversations are inevitable, so before these conversations, establish rules upfront; acknowledge team members' ambitions and desire for growth while emphasizing honesty and transparency. Goal alignment is crucial; ensure everyone understands and contributes to the team's common goals. 

Providing honest feedback is key. Practice giving constructive criticism, and deliver it promptly. Avoid favouritism by measuring all team members against the same standards, fostering fairness and reducing ambiguity. 

Regularly provide feedback to individuals based on their performance and openly recognize achievements. By cultivating a culture of transparency, fairness, and continuous improvement, you can effectively manage a team and nurture growth. 

Don’t know where to start? How about volunteering? 

Volunteering serves as a practical platform for honing leadership skills. Here, it is easy to share credit, and it fosters camaraderie and motivation. By volunteering, you can learn to manage time efficiently, which is essential for productivity and goal achievement. By aiding others and achieving small goals, it’s a good place to embrace a success-oriented mindset and a good training ground to learn how to deal with setbacks, as it fuels resilience and growth. 

Learn more about volunteering opportunities with CFA Society Toronto at www.cfatoronto.ca/Volunteer