Over the past 15 years, H. E Dr. Maryam Al Suwaidi has held several leadership positions with major focus on organizational development and quality improvement in various industries. Currently, she is the Deputy CEO for Licensing, Supervision & Enforcement - Securities & Commodities Authority (ESCA), where she has held a number of positions over her 10+ year tenure. ESCA is the public authority set up as the governing body of the capital markets community in the United Arab Emirates.
In her role at ESCA, HE Dr. Al Suwaidi is the Team Leader of the SCA International Competiveness that accomplished the number one rank in corporate board effectiveness in the board of director's effectiveness indicator at the World Competitiveness Yearbook issued by the International Institute for Management Development, and the number one rank in MENA region in the Investor Protection Indicator in the World Bank Ease of Business Report; Deputy Chairman of the Technical Committee in the SCA (Chaired the Committee from 2012 till 2015); and Team Leader of the UAE Oversight and Supervision on Financial Markets of the Cooperation Council for the Arab States of the Gulf.
In addition to participating as a renowned keynote speaker, panellist and moderator, she has a number of accomplishments, including but not limited to, holder of a Doctorate in Law from the University of Leeds, a Master Degree in Commercial Law from the University of Wales (U.K), a Licence (Shariah and Law) “Honor”, a registered Lawyer (Non-Practicing List) at the UAE Ministry of Justice, and a graduate of the UAE Government Leaders Program - Executive Leaders organized by the Prime Minister Office/ the Federal Authority For Government Human Resources (FAHR) 2010-2011.
How did you become involved in the exchange technology industry?
I have joined the Securities & Commodities Authority (SCA) in 2002 as a Legal Advisor. In 2008, I became the Deputy CEO for Legal Affairs, Issuance & Disclosure and Research & Development Sector and my role was to lead the team responsible for over-sight and approval of applications for the incorporation of public/private joint stock companies and listing of national and foreign companies in UAE Financial Markets. It also included promoting regulatory framework for certain financial products such as bonds and Sukuks, and ensuring their compliance with the ongoing regulatory requirements such as continuous disclosures and corporate governance.
In 2012, I started to get more involved with the exchange technology industry when I took over the responsibility of the Licensing, Supervision and Enforcement Sector at the SCA, which included the Exchange Surveillance Section. I have been regularly engaging with the Nasdaq team as the service provider for the surveillance system in the UAE, and also as the team leader of the UAE Oversight and Supervision on Financial Markets Team of the Cooperation Council for the GCC States where surveillance systems are discussed and reviewed.
Why did you choose to pursue exchange technology as your career?
With the fourth industrial revolution, I do believe in the important role which technology plays in all aspects of our life, which includes my profession in the financial services industry.
I am a law graduate and through 15 years of experience and holding several leadership positions with major focus on organizational development and quality improvement in various industries by being the Vice Chairperson at Hawkama Institute, the Vice Chairperson of the Board at the Insurance Authority, and Board Member in Al Etihad Credit Bureau. Such diverse responsibilities, apart from being the Deputy CEO of the Licensing, Supervision and Enforcement Sector at the SCA and having recently obtained a PhD degree in the securities law, all this made me interested in diversifying my experience even more. In fact, through this diversity and experience, I have recognized the importance of technology in the decision making process, in the increase of the level of efficiency and effectiveness in our daily operations, and in the improvement in the long term projects, too. Nowadays, the deployment of technology in our economies has become so wide and big that without appreciating this aspect, as a leader, you will not be able to innovate and develop further.
Throughout your career, what challenges have you been presented with that you’ve had to overcome?
As a woman leader, I have to balance between my work and family life and it is not an easy task. I had to travel to finish my LLM in Commercial Law (Master) leaving my small children with their father. I also had to work very hard to prove my capabilities because women have to work twice as much as men to be noticed and appreciated. My biggest challenge was writing my PhD in the UK while working in the UAE – especially while leading an executive role – and trying to do well in both. Although it was very challenging because researching, reading and writing requires time, attention, and extra efforts, but it has been very rewarding at the end.
Has being a woman in this industry impacted your career?
I will have to admit that working in financial services industry is really a big challenge for me as a woman, as the industry is one of the male dominated sectors. Hence, being a woman can be a blessing and/or a challenge at the same time. It's a blessing if you are guided by the right mentors who will encourage you and be impressed by a successful lady in this “tough” field. However, it is a big challenge because some people will question your ability to lead and grow as a woman in this industry which requires a lot of experience and strong decision making capabilities, especially during the turbulent times such as the financial crisis and reforms that we are witnessing since 2008. However, many examples of women who are Heads of States, business owners and leaders in different fields, either private sector or government, show that women are as good as or at times even better than men.
As an Emirati woman, I must say that I am lucky because of the leadership’s support in our country. This support started with late Sheikh Zayed who believed in our abilities as women to contribute to the UAE society. This support continued with His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohamed bin Rashid Al Maktoum and His Highness Sheikh Mohamed bin Zayed Al Nahyan. We are all blessed to have this wise leadership that is supporting Emirati women to participate actively in the society in general and the economy in particular.
Also, the support of Her Highness Sheikha Fatima Bint Mubarak, Chairperson of the General Women's Union (GWU), Supreme Chairperson of the Family Development Foundation, and President of the Supreme Council for Motherhood and Childhood, is another key factor for our success as Emirati women. Her Highness has led in the past and is still leading many initiatives which aim to empower young Emirati ladies and boost gender equality in the country.
I can conclude by saying that women in the Emirates are reaping the fruits of this strong ongoing support of the great leadership, both preceding and current, to the empowerment of women in all fields, in different ways and at all levels, in accordance with a balanced approach of seeking to open up to the spirit of times, while maintaining the authenticity of local Arab traditions.
What advice would you give to young women who aspire to be in the technology industry?
I believe they should be in a constant quest to be good leaders and have the dedication and perseverance to be one. Being a leader includes having many traits such as: commitment, integrity, understanding, trustworthiness, emotional intelligence, humility, credibility, and accountability. A leader also empowers and inspires as well as being visionary, an active listener, goal oriented, and to lead by example, acquire great communication skills and pass knowledge.
Women should analyze their passion very carefully and match this with technology to be able to innovate and add value; technology is a great industry to be in, especially with the recent technological revolutions, however, it is a challenge that women must be prepared for.
I also would encourage them to adopt the following strategies: defining their goals and following them; self-motivating; determination and perseverance; achieving the objectives as efficiently as they can; believing in yourselves and being patient; never giving up and using resources as effectively as possible; knowing your strengths and addressing your weaknesses; being an example to your subordinates; and showing that gender is not a constraint in reaching out and succeeding.
Overall, patience, professional conduct and discipline, tangible achievement and the ability to pull success at all times, all this is what kept me going. It is not easy, but it is all about you and your belief in yourself, your capabilities and the passion for what you are doing.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
