Exploring the Latest Business Innovations
As a manager at national mortgage bank Crédit Foncier de France, Arman Minasyan-Aubert is responsible for ensuring the company's short- and long-term sustainability. To sharpen his leadership skills and knowledge of technological innovations, he attended our Program for Leadership Development (PLD), where he gained valuable strategies for helping his organization stay relevant.
What are the biggest challenges facing the banking industry?
In recent years, the digital revolution has disrupted traditional channels for recruiting and maintaining clients as well as increased competition from online actors. Clients who previously visited the bank’s branches now shop for loans online and demand rapid loan decisions with the best possible terms. It is also easier for them to compare and switch to other companies, which increases competition.
In addition, the general interest rate environment has also compressed margins and adversely affected profits. This has spurred an increased focus on cost reduction. All of these forces require that we reform our business model.
What is an accomplishment in your career that you are particularly proud of?
One of my most fulfilling accomplishments has been to complete the PLD program at Harvard Business School, while simultaneously continuing to work in a high-pressure environment where I was managing projects and making decisions under tight deadlines. Keeping both going at the same time required a lot of hard work, dedication, and discipline.
Why did you choose to apply to PLD?
I was at a stage in my career where I knew I needed improve my strategic analysis and decision-making skills. I've always been passionate about exploring the latest business trends and techniques, and PLD offered a rigorous and structured way to pursue that goal.
The reputation of Harvard Business School made it a compelling option from the start. But, ultimately, it was positive feedback from a former graduate of the program that was pivotal for me. I am so glad I took her advice!
How did PLD equip you to address your organization’s challenges?
I work for a financial institution with a 160-year history in a specific sector. While this history is a source of strength, it can also create resistance to making necessary changes in the face of shifting markets and technological threats. PLD showed me that the long-term success of well-established companies is contingent upon seeking out and managing change. It is essential that a company take steps to ensure its current position, while simultaneously allocating enough energy to ensure its future sustainability.
Which aspects of PLD did you find most valuable?
The entire PLD experience, under the leadership of extraordinarily talented faculty, helps you become a better version of yourself. The environment provides the perfect setting for profound transformation and growth.
Beyond the richness and uniqueness of the curriculum, PLD brings together a diverse group of outstanding participants. The case study method becomes truly effective when the debate involves the perspectives of such talented peers. Discussions with my living group team had a significant impact on my leadership style and decision-making skills.
What qualities do you believe are most important in a leader?
Great leaders should focus on authenticity and accessibility. To build long-term relationships, foster higher levels of engagement, and create a culture of trust that employees crave, they must have courage, compassion, and empathy.
What's next for you?
I plan to continue in leadership roles that allow me to shape strategy and ensure its successful implementation. My ultimate goal is to instill common values and high levels of commitment in everyone on my team—objectives where PLD prepared me well.