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Empowering Women Leaders Spotlight: Carol Stubits

What brought you to the asset-based finance and leasing industry?

I have been in the asset-based world my entire career. After spending a lengthy time in the floorplan world, I was recruited to a big player in the equipment leasing world and made the move back in 2005. It wasn’t a purposeful move but rather an opportunity that arose that interested me. 

What do you wish you had known when you started out in this industry?

I wish I had known when I started out how disparate this industry still was. I was fresh out of university and believed that pay equity and equal opportunity for women was par for the course. Had I known I was wrong I would have brought a different approach. I would also have been much more outspoken about it. But courage sometimes takes time to show itself, and depends a lot on the environment you are in.

What do you like about working in this industry?

I think it’s interesting how an industry that lends billions of dollars into the marketplace is in fact quite a small world. When you have been in it for a while, it’s hard to name a lender where you don’t know someone. Although we are all competitors, there is generally a feeling of solidarity. It’s a sense that we are all in the same boat, and can for the most part co-exist and respect each other. 

What motivates you?

Feeling like I am contributing and making a difference to my team, my colleagues and of course the organization. Spending time with and mentoring people, perhaps those starting out in this or different industries and seeing what the future holds with them building it is inspiring. I love learning and try to continuously do so.

What is your greatest achievement?

Survival. Having been around long enough to see the cycles in the financial services world, whether it be within certain market segments or general economic slumps, it is life-affirming to still be here and thriving.

How do you feel the industry has changed since you began your career?

Frankly, not enough. I think that after such a long time of talking about and taking action against equality that we are still far from where we need to be with gender equality. There are still too many examples of women being underpaid vs their male colleagues and not having the same amount of opportunity purely because they are women. 

What do you feel you still want to keep working on?

I’m committed to doing my part to continue to lift women up in this industry. I actively mentor a number of women, both colleagues and non-colleagues and some as part of a more formalized program while others are informal connections. Helping them navigate situations that, sadly, I thought would no longer exist decades after I started in this industry is something I wish I had.

How do you overcome the challenges you face at work?

Focusing on what I can control is key. I’d like to say that I turn challenges into opportunities but truthfully it doesn’t always feel that way! Often it isn’t until after the clouds have cleared that you realize you got through it. But definitely bringing the mentality that “this too shall pass” is helpful – and yet again something that experience proves out.

What industry is your favourite industry to finance and why?

I have a bit of a soft spot for the construction industry. It’s very diverse when it comes to equipment types and the different markets. I have enjoyed many long-lasting amazing relationships with customers and dealers over the years as a result.

What is your number one travel destination and why?

Impossible to pick just one. In my earlier days I would go to Europe whenever I could, with friends or visiting family there. It’s been a while so I would love to go back with my family now. But I also have great curiosity to go somewhere I haven’t yet been…South America or maybe Japan.

What is one of your favourite books and why?

Again – an impossible question for someone who studied literature and has been a self-proclaimed bookworm since I was a small child. I am going to say that I have a huge love for Shakespeare, particularly the comedies. His wit and gift for beautiful language has always drawn me in. Nowadays I love picking up a good thriller as well.

What sports do you play and why is it important to you?

I tend to be a loner when it comes to exercise. Running and yoga are my jam. 

What do you like to do when you are not behind your desk? 

With free time being somewhat elusive, I try to choose carefully how I spend it. I have a son who plays rep hockey and it’s his favourite thing to do, so I enable and support him and show up for it as much as I can. Family and friends are the biggest priorities in my life and so focusing on how to maximize time with them is key, and it usually involves gathering together and eating good food. And also - getting out from behind my desk AS PART OF WORK is key. I love getting out to visit customers and spend time with my team.