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Cynthia, Product Owner at Foriegn Bank: Advize Career Interview

A career journey beginning with product analysis at Falabella Bank in Peru, followed by roles in marketing project management and product management at BCP, culminated in a Product Owner position at a Foreign Bank.

This path involved leading cross-functional teams, building internal tools, and utilizing Scrum methodology. The work requires critical thinking, problem-solving, and strong communication skills to secure stakeholder buy-in.

A significant challenge involves managing dependencies on other teams, demanding negotiation and creative solutions.

The most rewarding aspect is the combination of challenge and reward, along with the opportunity for leadership development and high-level communication.

The financial industry's innovative potential, particularly in Peru, is a driving force, highlighted by work with machine learning and P2P payment applications.

For undergraduates, entry-level roles like product analyst or specialist internships are suggested, along with related fields like marketing or project management. A key lesson learned is the importance of assembling a strong team.

An Industrial Engineering degree provided a solid foundation, and mentorship proved crucial in navigating gender biases.

Advizer Information

Name

Job Title

Company

Undergrad

Grad Programs

Cynthia Panez Velazco

Product Owner

Foriegn Bank

Pontificia Universidad Catolica del Peru, 2014

UCLA Anderson School of Management, MBA

Majors

Industries

Job Functions

Traits

Engineering - Industrial

Finance (Banking, Fintech, Investing)

Product / Service / Software Development and Management

Immigrant, Worked 20+ Hours in School

Watch all of this Advizer's videos below

Career Path of a Product Owner at a Foreign Bank

Cynthia's career path began in Peru, where "one of [their] first jobs was at Falabella bank as a product analyst," focusing on increasing personal loan revenue. Following roles in marketing project management and product management at BCP, Peru's largest retail bank, culminated in a Product Owner position where they led a team assessing cybersecurity risks before pursuing an MBA at UCLA Anderson.

Career Path of a Product Owner at a Foreign Bank

Main Responsibilities of a Product Owner at Foreign Bank

As a Product Owner, Cynthia's main responsibilities involved leading a cross-functional team to build an internal tool, focusing on "understanding user needs" and "identifying problems and solving them." This included roadmap execution, addressing roadblocks, incorporating user feedback through surveys and interviews, and securing stakeholder buy-in for continuous product improvement.

Main Responsibilities of a Product Owner at Foreign Bank

A Day in the Life of a Product Owner at a Foreign Bank

A Product Owner at a Foreign Bank, Cynthia, uses the Scrum agile methodology, starting each day with a 15-minute daily stand-up to address team roadblocks; the remainder of the day involves collaboration with other teams, gathering user feedback to inform feature development and prioritization, materializing suggestions into "new features we're going to build."

A Day in the Life of a Product Owner at a Foreign Bank

Most Important Skills For A Product Owner At A Foreign Bank

For a product owner at a foreign bank, Cynthia highlights "critical thinking" as the most crucial skill, encompassing problem-solving, analytical thinking, and understanding user pain points. This requires innovative solution creation, resource management, cross-functional collaboration, and the ability to "convey [one's] idea" and gain buy-in from others.

Most Important Skills For A Product Owner At A Foreign Bank

Favorite Parts of Being a Product Owner at Foreign Bank

Cynthia, a Product Owner at a Foreign Bank, found the most rewarding aspect of the role to be the "combination of it being very challenging but at the same time very rewarding," particularly the responsibility for product success and the resulting leadership development. This challenging role enhanced skills and provided a "spotlight" within the organization, allowing for high-level communication and presentations to senior executives.

Favorite Parts of Being a Product Owner at Foreign Bank

Biggest Challenges Faced by a Product Owner at Foreign Bank

Cynthia's biggest challenge as a Product Owner is "depending on other people," requiring negotiation and prioritization to overcome dependencies and occasional roadblocks caused by external factors. When direct collaboration fails, creative problem-solving and iterative solutions are necessary.

Biggest Challenges Faced by a Product Owner at Foreign Bank

Favorite Parts of Working in the Banking Industry As a Product Owner

Cynthia, a Product Owner at a Foreign Bank in Peru, finds the most rewarding aspect of her career to be the industry's significant potential for innovation, stating that "there's still a lot of Innovations to come in the financial space in Peru". This is evident in her work leveraging technology, such as machine learning to improve credit risk assessment and developing a leading P2P payment application, thereby expanding financial access for customers.

Favorite Parts of Working in the Banking Industry As a Product Owner

What Type Of Person Thrives In The Banking Industry, According To A Product Owner At Foreign Bank

To thrive in the financial industry, analytical skills to understand the "underlying need" are crucial, coupled with a collaborative spirit to work effectively with teams. Commitment to the organization's purpose, such as "helping people transform their plans into reality," is also key for success.

What Type Of Person Thrives In The Banking Industry, According To A Product Owner At Foreign Bank

What A Product Owner At A Foreign Bank Wishes They Had Known Before Entering The Banking Industry

Cynthia, a Product Owner at a Foreign Bank, wished they had known the extent of "influencing others, influencing people, negotiation" required in the role, a skillset extending beyond the individual and team-based work of previous roles as a program list. This highlights the importance of soft skills like empathy and understanding others' priorities for successful product ownership.

What A Product Owner At A Foreign Bank Wishes They Had Known Before Entering The Banking Industry

Entry-level positions for aspiring Product Owners

Entry-level positions for undergraduates interested in a product owner career path include product analyst roles, "broke analysts," or product specialist internships. Other roles like marketing, business development, and project management offer related experience that can lead to a product owner position, as the work of a product owner encompasses "all these things," including understanding customers, marketing, and project management.

Entry-level positions for aspiring Product Owners

Significant Career Lesson From a Product Owner at a Foreign Bank

Cynthia, a Product Owner at Foreign Bank and current MBA student, identifies "having the right team" as the most significant career lesson learned, emphasizing the importance of selecting individuals who complement expertise, are invested in the project, and share a common goal. This, Cynthia believes, makes "any project possible" and simplifies the collaborative work necessary for success.

Significant Career Lesson From a Product Owner at a Foreign Bank

College Experiences That Helped A Product Owner At Foreign Bank Succeed

Cynthia's undergraduate Industrial Engineering degree provided a "rounded learning experience" encompassing finance, marketing, and operations, establishing a strong foundation for her current career as a Product Owner. This foundational knowledge, even revisited in her MBA program, highlights the importance of self-awareness in choosing a major that aligns with long-term career goals.

College Experiences That Helped A Product Owner At Foreign Bank Succeed

How Identity Has Influenced A Product Owner At Foreign Bank's Career

Cynthia, a product owner, shared that being a woman in business, particularly in Peru, presented challenges including stereotypes where "people don't pay that much attention to what you have to say." However, mentorship from other women empowered Cynthia to overcome these obstacles, demonstrating the importance of female support networks in navigating a career and challenging gender biases.

How Identity Has Influenced A Product Owner At Foreign Bank's Career
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