Kim Taylor shares how business knowledge and strong mentors have helped her transition to her current role of president of CME Clearing, where she is leading the way forwards as CME extends its reach into the OTC markets.
Q: Why did you go into finance? What events, people or experiences influenced you to pursue a career in finance?
One of my first jobs was a sort of “back office” role with a long distance telephone company. I liked the details and the operational part of that job. Finance had the same sort of elements.
Q: Why did you choose to join CME Group?
My job was moving, and I wanted to stay in Chicago. I heard of an opening at CME and was interviewed by John McPartland, now the senior financial markets advisor at the Federal Reserve Bank of Chicago Chicago Fed, for my first job in Clearing. I felt it was a great fit with my background, but was different enough from what I did before to represent a lot of opportunity for me to learn and grow. Turns out I was right.
Q: Can you briefly describe your responsibilities when working with CME Group? What is the biggest challenge or lesson learned during your time here?
In my functional role, I currently manage all of our clearing risk management, operations, financial compliance, and clearing business development activities. Risk management is the real core of what we do, but there is also a large part of my job that focuses on expanding our clearing solutions to new products – like OTC – and new areas – like our CME Clearing Europe, our London-based clearing house launched last year. At the same time, as part of the CME Group Management Team, I help to set our company’s strategy and evaluate opportunities to achieve that strategy. I think one of the biggest challenges is broadening everyone’s viewpoint so that, across the firm, we are always focused on making the best decision for the customer.
Q: How have the roles you’ve been in in the past helped your transition to your current role?
I think a strong knowledge of your business is always foundational. I also think I have had the benefit of working for really strong leaders and mentors, like McPartland and Phupinder Gill, Chief Executive Officer at CME, who helped shape my view of the business as well as the best way to manage a team through change.
Q: What has been your greatest accomplishment thus far? For instance, you spear-headed clearing agreement between CBOT and CME in 2003, which was a historic agreement.
The common clearing link between CME and CBOT was certainly a huge accomplishment and one that changed the course of our business. But really my greatest accomplishment is working with our clearing team and our broader CME team and growing our reach into the OTC markets. We’re the leading OTC clearer in terms of U.S. customer volume, and I consider that a game-changer as well.
Q: What advice would you give others looking to progress their careers? Are there any lessons you have learned that you find particularly useful or inspiring?
I would say, regardless of the business you’re in, always listen to your customer. It does not matter where you fall in the organization chart, your customer is what matters most. Also I’d say don’t rest on your laurels: always look for the next, new challenge waiting for you.
Q: What would you do professionally if you hadn’t followed the path you’re on now?
I would have liked to be a writer. We need more “quality” suspense novels to buy at the airport.
