Leadership Award
Laura Hay
Managing Partner
KPMG
Earlier in her career, Laura Hay was working in an insurance company and after eight years decided she wanted to try something new. "I've always enjoyed working with people and felt like consulting would be a good fit for me," Hay says. "After my first year, I was hooked and never looked back!"
KPMG, her clients and the consulting profession are no doubt, grateful. Today, she is a Principal in KPMG's Insurance Practice where she serves as the National Sector Leader for Insurance. She is also a member of KPMG's Board of Directors and a member of the KPMG Foundation Board.
"I love the people part of my work the most," says Hay, who joined KPMG in 1993. "I enjoy working with the great people at KPMG. As part of my daily life, I prioritize people development, particularly in the soft skills, as I truly find this most rewarding on a personal level. I also love helping clients through their challenges toward success. The diversity of work is wonderful, and I love all the different personalities with which I interact. It makes my work all that much more exciting."
Hay has more than 28 years of professional experience in the insurance industry focused on audit, advisory and actuarial services including global U.S. GAAP and IFRS conversions. Hay has also led the business information review of several global and U.S.-based life insurers where her work involved future state visioning of the internal reporting for management's purposes.
For Hay, being a woman in consulting hasn't always been easy. Soon after she joined KPMG, she began a series of global assignments traveling around the world. "I learned that women are not always treated as equals initially, especially in certain countries. So, the most important lesson is to not take this personally, but to push through it gently by demonstrating your value through thoughtful discussion and deliberate actions. The behavior on the other side self corrects very quickly when value is clear," she says.
"Focus on what's important to the client and validate it with them rather than guessing what it is that they value," Hay says. "Value is always in the eyes of the client: there is no such thing as one value proposition that works universally."
For those just getting their feet wet in the profession, Hay has some advice: listening is the best way to be successful, so listen to what is being said and not being said—and paying attention to body language is key. Hay also suggests observing the more senior consultants around you and pick and choose the style that works best for you.
Finally, never be shy about asking to go to a client meeting so you can observe and learn, she says. "You are never too young to be there, and it never hurts to ask—the worst they can say is no—and I guarantee that you'll be invited to more meetings in the future just because you asked to attend."Advice that has suited Hay well throughout her career, she says.
"I am honored by this Women Leaders in Consulting award," she says. "My view is that there are many tremendous women consultants out there—some of whom I have worked with and who have been my competitors. I feel humbled to be a part of this talented group of women."
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