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‘Virtually everyone experiences imposter syndrome, from interns to C-suite executives’
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Louise Murphy, Insurance Sector Consulting Director at PwC shares how she has cultivated a career that has not only led to her own success, but nurtures that of others around her.
As one of the leaders in PwC’s insurance sector, Louise Murphy’s role is varied – it’s about helping insurance clients navigate disruption. “No two days or weeks are the same,” she says. “From client engagement and connectivity to collaboration with our strategic alliance partners, to leading and delivering large-scale transformation programmes across finance, risk and operations.”
She loves the diversity of challenges that she’s faced with, and her vast experience means she is well placed to tackle them. Initially starting out in PwC in Dublin, she spent four years with PwC US in the Greater Chicago Market, then three years with PwC Zurich, Switzerland, before returning to Dublin, so she has worked in a wide range of markets within the organisation.
“It’s one of the things I love about PwC, the ability to move around within the network. PwC operates in around 150 countries, so there are opportunities to live and work abroad.” Her work also sees her collaborate with colleagues in other countries. “Within PwC, we collaborate across the network of firms to refine our points of view and share key learnings, from large-scale finance transformation programmes for example.”
Louise explains that insurers are in the midst of a period of disruption due to rapid technological, regulatory, and market changes. “Insurers are facing unprecedented operational challenges, and are focused on delivering ambitious transformation and growth plans.” It’s undoubtedly challenging, but Louise gets real satisfaction from being able to support clients on their transformation journey.
There are a number of factors that are driving change and disruption in the sector in Ireland. New market entrants are changing the competitive landscape, regulation continues to evolve, and the bar continues to rise in terms of consumer expectations. Insurers are trying to modernise their technology estates, embracing emerging technology such as cloud capabilities and AI, all while attracting key talent as the modernisation agenda accelerates. Louise works with organisations on addressing these issues, which are often interlinked. “If you take the finance function, for example, the modern finance team needs to be a key strategic partner for the business,” she explains.
Today’s finance agenda focuses on people, processes and performance – and while companies can start on different pathways, to transform successfully, they need to holistically consider all three lenses.
“Today’s finance agenda focuses on people, processes and performance – and while companies can start on different pathways, to transform successfully, they need to holistically consider all three lenses. Insurance company CFOs are focusing on simplifying, standardising and automating their processes, creating connected data and analytics capabilities with real-time self-service insights, and investing in upskilling their workforce in a digitally savvy way.”
As an experienced professional, it’s easy to imagine that Louise’s challenges have only ever come in the form of her work, but she readily admits that often, her hurdles have come from within. “Like many others, I have experienced imposter syndrome at various points of my career to date. What I have realised is that virtually everyone, from interns to C-suite executives, experiences it – albeit to varying degrees. I’ve learned that it tends to be rooted in learned behaviours, and that it’s important to validate those feelings and fears, but recognise that they don’t define you.”
Her role, at times, involves overseeing large groups of colleagues, but Louise explains that this leadership role has been something that she’s cultivated throughout her career. “For me, leadership exists at all grades,” she explains. She also rejects the idea that only certain types of people are suited to lead. “As someone who’s more naturally introverted, I have made a concerted effort to develop my leadership skills. I try to take the time to recognise that sometimes my leadership is needed, whereas other times I can empower colleagues to take on that role. I think that can be powerful, and it might really help someone else with their confidence, self-assurance and growth, if they’re given those opportunities at the right time.”
While earlier in her career she appreciated the ability to work in different countries, now as a mother to a toddler, Louise currently extols the benefits of PwC’s approach to flexible working. “It empowers our people to flex their working days. Essentially, we look to come together, to collaborate, innovate and work in the office or client offices. But it allows you to flex your start and finish time so that you can balance personal commitments. For me, that’s the ability to do the creche drop off or pick up, and that is really nice. If you do have to do a little bit of time later, that’s fine, but it really helps me balance my day.”
Policies like these, Louise says, are so important to ensuring women are represented at all levels, particularly in leadership roles. “Like anything, there’s still a way to go, but things like parental leave are another way to try and level that playing field – both mothers and fathers get nine weeks paid parents’ leave. I do think PwC has a lot to be proud of when it comes to working towards gender equality, and that has really supported me in my career.”
If she thinks of young women who are considering a career in the sector, Louise has plenty of advice, including building a strong foundation of technical expertise, expanding your network, developing your leadership skills and embracing technology and innovation. “I also think it’s important to stay attuned to any self-limiting behaviours that you might have and work to overcome them so that they don’t impede your progress.”
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Photography: Kieran Harnett
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