Beata Caranci with her inclusive vision for women in the banking

Canada’s chief economist with her inclusive vision is clearing the path for women in the banking

Beata Caranci never thought of becoming a role model. When her position as the chief economist at TD Bank Group was announced, she tried to avoid the questions of being among a few female chief economists leading a Canadian Bank.

“I always worked hard to reach this place and in my efforts; I did not want to make it about my gender. What I achieved I wanted it to be the part of my accomplishments,” says Ms, Caranci, who is also at the position of senior vice president at TD.

But a conversation with women at an industry event largely changed her mind. The woman with a smile on her lips congratulated Ms Caranci and also shared some of the difficulties she was facing in her career journey.

“That’s when it happened with me, it is important to talk about the experience women feel in this field, because what I talk about is important for others, even though for me, it was not prominent for me.”

Empowering women does not mean to blaze trails, she explains, “I think you help them simply by showing them their path, you don’t lead them, you just show them their goals.”

The motivation behind helping others

Ms Caranci started her career keeping in view helping others as its biggest aim. Even when she was questioned about the answer of which she did not know, she made it a mission to find the solution, whether it was possible by herself brainstorming or connecting with people.

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“I think efforts were rewarded over the years, because people realized that I had a great interest in the bigger picture, in strategizing and solving the problems with an innovative approach and helping move the organization forward.”

Ms Caranci joined TD as an economist in 2003. Over time, she broadened her experience and expertise in the industry, moved into regulatory work and built out a highly effective and efficient team. She took a lot of risks and worked for long hours.

For example, after the global and financial collapse in 2007-2008, putting pressure to be more embedded in regulatory requirements, Ms Caranci offered herself as a volunteer to do extra work in addition to her regular responsibilities.

This initiative was a reflection of the consideration of her ethical values, Ms. Caranci says, she learnt and benefitted a lot from her senior colleagues and employers who appreciated and encouraged her to take on new experiences and initiatives.