I like risks and encourage women to take them

From your perspective, what was it like managing open heart surgery, i.e. creating VeloBank? What was the biggest managerial challenge here?

Paulina Strugała, member of the management board for risk management at VeloBank SA / Press materials / Photo. Matt. press releases

VeloBank was established in October 2022 as a result of the decision of the Bank Guarantee Fund and financial support from the Commercial Bank Protection System (SOBK), which was aimed at protecting customer deposits and the stability of the sector.

The newly created VeloBank was created on the basis of some of the assets of the previous institution, but from the beginning we wanted it to be a completely different bank – based on a new license, organizational culture, a great team of specialists, philosophy, technology, with customers in the first place. Simpler, closer, more modern.

I knew that risk management was not trivial in any organization. However, risk management in a bank that was undergoing resolution was a particular challenge. We faced the requirement to create new, strong foundations in all areas of the bank’s operations so that it could become attractive to investors. We started with the basics, i.e. reviewing and organizing policies and processes for individual risks. Where we identified such a need, we created new rules and products, such as starting the sale of mortgage loans as a new product in the bank’s offer. At the same time, the bank was in the sale process, and the European Commission gave only 18 months for this.

This process has been recognized by the European Commission as one of the most complex and largest of its kind in Europe.

Indeed, it was extremely demanding because we felt like we were running in many directions at once. If the bank did not find an investor, it would be necessary to carry out an orderly liquidation procedure. The time pressure and the awareness that the safety of our clients and, indirectly, the entire sector was at stake was extremely motivating. We had to act in a dynamic and highly disciplined way. As a result, we have probably built one of the most agile and innovative technology banks in Poland.

What specific barriers of old banking did you have to overcome to impose such a high pace of innovation implementation on your organization? How did you manage to convince your team that a bank could operate more efficiently than many technology companies?

Firstly, we had to say goodbye to long decision-making paths. Instead, we have introduced shorter chains of responsibility and a quick process of making key decisions. Secondly, we have clearly defined an approach to risk that supports achieving business goals through accurate decisions. Thirdly, technology, which is part of our DNA. We are a bank, but we have a fintech background. For us, this is not a slogan, but measurable effects. We have shown that we can dramatically improve loan portfolio parameters in a short time, show a shortened time to yes in loans, increase NPS and streamline operational processes.

The transition from a restructured entity to a new brand is a huge stress and a source of uncertainty for employees. How did you build their sense of security in moments of greatest turbulence?

I like being close to people. Therefore, I understood that customers and employees may have their concerns, and our role is to conduct transparent communication and dialogue. We talked to clients and employees not only when we were creating a new brand, products or services, but also during the process of searching for an investor or other strategic decisions, such as the takeover of the retail part of Citi Handlowy. Employees and customers must feel that they are part of this journey and that they always know where they stand. We, in turn, showed them the advantages of being in VeloBank from the customer and employee perspective: the brand, offer and values of VeloBank, i.e. convenience, security and modernity.

At DGP we often analyze the policy of diversity, equity & inclusion. What does DEI in the financial sector mean to you personally?

In my opinion, DEI actually builds the value of the organization, and not only looks nice in the presentation. In banking, diverse teams detect risks faster, take a broader look at customer needs and design products that truly respond to the complexity of the market. This translates into higher innovation, better quality of credit decisions and more precise risk management. In short: better business decisions. But for me, it’s not just a KPI on a spreadsheet. It is also the leader’s personal responsibility. I believe that access to opportunities should not depend on gender, age or life moment. Leadership begins where equality ceases to be a slogan and becomes a practice.

In your professional world, where is the line between bravado and the courage necessary in banking?

The line between bravado and courage runs exactly where risk management ends and reckless driving begins. In banking, courage is not about ignoring uncertainty, but about making decisions despite uncertainty – based on data, a clearly defined risk appetite, early warning indicators and a prepared exit scenario. This is not a blind leap, but a conscious entry into an area that has growth potential.

What was the most difficult professional risk you took at VeloBank and what lesson did you learn from it?

One of the most difficult risks at VeloBank was making development decisions at a time when the organization was undergoing intense transformation and operating under great time pressure and market expectations. Lesson? The biggest risk in banking is lack of decision. Organizations that freeze traffic in the name of caution lose momentum and, consequently, competitiveness. The leader’s role is to find balance.

Looking at your professional path, from audit to the management of a modern bank, what advice would you give to women who aspire to management roles? Have you had mentors in your career who have shaped your leadership style today?

I work in the risk field, so it’s obvious that I don’t like boredom. I have many years of experience in finance, I have changed my path five times. I started my career at KPMG, where I worked my way up to the position of director. Then, for many years I was associated with the PKO Bank Polski group, I was the CEO of the largest mortgage bank in Poland. I had excellent business results in each of my roles. When I received a job offer at VeloBank, I was excited, but I also felt humbled by the enormity of the challenge. However, I knew that this institution would attract passionate and brave people. I also felt that with my knowledge and experience I simply fit in here. When VeloBank became a full market participant and acquired an investor, I felt that the path we had chosen was the right one. Let me say this somewhat jokingly: as a risk expert, I encourage all women to take it. Build your competences, speak loudly about your ambitions, believe in yourself, ask for feedback and mentoring.

With projects of the scale and pace of VeloBank, it’s easy to burn out. What does work-life balance provide?

It’s an energy management system for me. It protects the quality of decisions in the long run, and in banking this is critical. On a personal level, I focus on windows of deep work, regeneration and letting go of perfectionism where it does not bring value. It’s not only healthy, but also more effective. I’m still learning to rest and recuperate. I have been exercising regularly for years, and two years ago I got into pilates. I organize great weekends and holidays. Then I clear my head, often with my teenage daughter. The best fuse for me is movement and being offline. Regular outdoor activity, time with loved ones and complete isolation from screens. A simple rule: if I need to rest, I put the phone down, breathe, change my perspective. Surprisingly often, the best ideas come when I consciously do nothing.