60 Seconds with Donna Milrod
Donna Milrod is the head of DTCC Solutions
What does your job entail? What's your favorite part of the job?
I am responsible for overseeing a portfolio of businesses that are driving innovation in the marketplace and helping firms meet new regulatory mandates in the most cost-effective, transparent and secure manner. This includes all of the services that are outside of our traditional, regulated clearing and settlement platforms, such as our post-trade processing solutions, legal entity services, our KYC/reference data utility, derivatives trade repository, collateral management solutions and more.
With oversight for such diverse services, there is much variation in where each of the products lies within the lifecycle. Some are in their infancy while others are more mature. This is, perhaps, the most exciting part of my role.
What do you do to unwind?
Unwind? With a very busy role at DTCC, and a full home life consisting of two boys, ages 7 and 10, a husband and a very big dog, I think I am wonderfully oversubscribed! Aside from spending time with my family, sleep is top on my list when I can get it!
Who is the most influential person in your business life? Why?
The person that had the most influence on me was my first boss out of college and before I went to business school ─ the head of market research at a publication. She was an absolute powerhouse who showed me the way. It was great to have such a strong and intelligent woman as my mentor to teach me that determination, skill and a professional personality could propel careers.
What is the greatest mistake that you've made and what did you learn from it?
When I first graduated college, I had a lot to learn. Sure, I studied and had decent grades, but I really wasn't mature when it came to the softer skills, navigating the professional environment and really capitalizing on my potential. My first role taught me a lot. I misunderstood just what work was ... how important it was, not only in my own life but in the lives of my peers. There was a time when I experienced my first downsizing, and I was quite naïve to what was happening or how it impacted lives. I learned very quickly about the impact tough business decisions have on personal lives, and it gave me new perspectives on management. Above all, it taught me even more about respect and compassion.
What is your favorite book? Why?
It's difficult to narrow it down just one book because I thoroughly enjoy many types of literature and always like a good, engaging story.
What was your first car?
I purchased my first car ─ a Subaru ─ in college and worked hard to pay for it myself. Unfortunately, I had a car accident shortly after. I was fine thank goodness, but the car wasn't. I didn't have another car for years.
What is the last personal tech gadget you bought?
My last tech gadget purchase was for the kids ─ two iPod shuffles.
Favorite vacation spot? Why?
On Thanksgiving every year, my family and I take a vacation to Puerto Rico. Much of my extended family (parents and sister) is in the western US and my husband's family is in Ireland, so we don't have many close relatives to celebrate with. Therefore, we use the holiday as a vacation to relax and enjoy time together as a family! Puerto Rico is really close, and super easy to get to, with lovely people, a lot of history, a beautiful climate and an interesting culture. It's nice to kick off the beginning of winter in such a tropical location.
Favorite TV Show?
I haven't watched TV in ages! Movies sometimes, but only when I have a bit of time to myself on a plane.
Who is your favorite musician? What makes them special?
My family loves music, and we have eclectic interests and a lot of favorites. From The Smiths to Aretha Franklin, Prince to Bob Marley, hip hop, classic rock and 80's hair bands, all get equal air time in our home! Every talented musician is special in their own right.
What keeps you awake at night?
My kids. Work is extremely important to me, but I try to keep work stresses at work and enjoy family outside of work. Their health and happiness is what's most important.
If you weren't working in the financial services industry, what would you be doing?
In college, I did a lot of studio art and photography. I really enjoyed it, and at the time, I probably needed more guts to be able to take such a creative and somewhat risky path in my career. While I am very happy in my current role, I love when I can bring my creativity to work.
What is your favorite sports team? How did you become a fan of the team?
The NY Mets. Hands down! My mom was a rabid Mets fan when I was growing up, and I was raised to be a fan. I have very distinct memories of being dragged to Shea Stadium when I was little with my older sister in our old, rusty orange Firebird.
What's your greatest business success?
It's very hard to pick just one business success, but if I had to choose, it is around my teams. I am very proud of the teams I've been able to build and manage. I have worked with some incredibly talented and smart colleagues, and together, I'm extremely proud of what we've accomplished ─ proud of the things we've built, the relationships we've cultivated, the corporate culture we've influenced, and the successes we have created. It's always been a team effort ─ at DTCC and in my earlier roles. I can't wait for our next team success.
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