Alumni Spotlight
Interview with Bea Juvancz
Balázs Kotnyek
Congratulations, Bea, on the award. This is also a special occasion for us as you have been a BCG alumna for exactly 20 years now. Let's start by discussing this recent accolade. You have been honored with the Women's Manager of the Year Award from the Hungarian Manager Association, the largest industry association in Hungary. This is a highly respected and significant award. How did you feel when you received the news?
Bea Juvancz
When I received the call, it came from an unknown number, and I typically don't answer those. Moreover, when the lady on the other end started to say "and you won", my initial reaction was skepticism. As she continued, I realized it might be serious. This award is from a well-known organization that has been granting awards in various categories for a long time. I was very surprised because I hadn't been deeply involved with that particular community. Although I knew some of the people involved, I wasn't widely known in that circle.
Balázs
What reasons did they give for choosing you?
Bea
There were several factors. My career is presentable, having attended good schools, lived in interesting locations, and worked for prestigious companies. This background gives me a low-risk profile and credibility in the market. Becoming the head of the local BlackRock operation, which is quite significant, was a major factor. BlackRock is known for being selective. Additionally, my contributions to various organizations, such as the SOS Children's Villages and the Hungarian Business Leaders Forum, along with my support for STEM education for women, played a role in my nomination.
Balázs
It's interesting that you've been a key figure in the establishment of major companies in Hungary, like BCG, Morgan Stanley, and BlackRock. Do you see a common theme in this aspect of your career?
Bea
Yes, there's a theme. I distinctly remember my first interview after college with Arthur Andersen, where I expressed a desire to work for new companies in the market to avoid legacy socialist ones. This was shortly after the change of regimes, and I wanted to be part of the new economy. This mindset won me the spot back then and the theme continued with BCG and other companies. At BCG, I was fortunate to be interviewed just as they were planning to open the Budapest office.
Balázs
How did your experience with BlackRock differ from your earlier roles with Morgan Stanley and BCG?
Bea
With BlackRock, it was slightly different. I was hired for my experience in establishing new operations of large companies. I joined BlackRock at year five instead of year one, bringing my experience to an already established operation. But the roles are quite similar. Head of office functions for high-margin, high-end professional services firms have a lot of similarities. You need to be knowledgeable about financial markets and organizationally savvy. The challenge lies in balancing the strategic and operational aspects, which can sometimes feel like you need to perform miracles.
Balázs
Referring back to the theme of starting new things, this seems to align closely with the consulting work at BCG. Do you see a similarity in mindset?
Bea
Consulting teaches many valuable skills, particularly the ability to handle new challenges and environments frequently. This forced openness and adaptability are crucial and easily transferable to senior positions in any company. The fast pace of change in industries today makes this skill set increasingly valuable.
Balázs
You mentioned the appeal of the "repeat game" in your career.
Can you elaborate on this?
Bea
The repeat game is fascinating because doing something well once is challenging, but repeating it successfully multiple times is even more difficult. It involves learning from each experience and continuously improving. Over time, the challenge may wane, but initially, it's very engaging to see if you can consistently achieve and exceed your goals.
Balázs
Reflecting on your BCG career, did you find similar satisfaction?
Bea
BCG projects were incredibly interesting and diverse, from new channels to new markets. However, the balance between being impactful and executable was often challenging and sometimes frustrating.
Balázs
How do you maintain a balance between strategic thinking and operational execution in your current role?
Bea
Working for a large corporation offers the benefit of finding like-minded individuals who are eager to improve the status quo. Engaging in meaningful discussions with colleagues can be intellectually stimulating and help maintain a balance between strategy and execution. In large organizations, you can find opportunities for these valuable interactions, you just have press on to find the right counterparts, stakeholders to move beyond the „this is a great idea!”.
Balázs
Do you have any special methods for identifying and engaging with interesting people within the organization?
Bea
I believe in engaging in casual conversations with a view to evolve them into deeper discussions. I allow myself to ask impulse questions, which can lead to more lively and meaningful exchanges. This approach helps identify potential for collaboration and develop deeper understanding.
Balázs
Your involvement with organizations like SOS Children's Villages and HBLF reflects a commitment to social impact. How do these roles compare to your corporate responsibilities?
Bea
These roles offer a different kind of satisfaction. Engaging with social causes keeps me grounded and provides a perspective on how fortunate we are. It’s important for maintaining a balanced outlook and understanding the broader impact of our work.
Balázs
How do you manage to balance all these responsibilities with your personal life?
Bea
It involves recognizing and accepting compromises. You have to be very cognizant of the compromises and manage your time efficiently. For example, I minimize time spent on non-essential activities like shopping or social media. My kids occasionally found our weekends spent outdoors less enticing than sitting in front of the screen.
Balázs
Finally, what is your most cherished memory from your time at BCG?
Bea
I cherished the intellectually stimulating discussions and quite passionate debates we had during lunches. These conversations, which could span a wide range of topics, were incredibly inspiring and a significant part of my BCG experience while not so easy to copy in more hierarchical organizations.
Balázs
Thank you, Bea, for sharing your experiences and insights. Congratulations again on your award and continued success in your career.
Bea Juvancz
Thank you, it's been a pleasure discussing these topics with you.