On behalf of the entire STA Women in Finance Committee, we're thrilled to continue this series and highlight the careers of more inspiring women in 2024 following the incredible support and engagement we received last year!


Our latest profile features Elaine Chui, Director and Senior Risk Manager within Global Markets at Bank of America. Before her recent transition to the Risk organization, Elaine was a senior product manager for the Central Risk Book (CRB) equity desk and the Electronic Trading Desk for 18 years. She has managed different aspects of Bank of America’s CRB trading infrastructure and Electronic Trading platforms, including the firm’s pre-trade risk systems and low-latency market access platforms. She leverages her insight, knowledge and experience to create a more seamless workflow in her new role in the Risk organization.


- Inessa Ruffman, STA WIF Chair and Christine Lee,

STA WIF Vice Chair

Elaine Chui

Director and Senior Risk Manager, Global Markets

Bank of America

Why did you choose a career in the financial services industry? How did you get started?


My career began as a system analyst, where I developed equity trading platforms for J.P. Morgan and later Robertson Stephens. 18 years ago, I joined Merrill Lynch as a product manager, which broadened my perspective on the financial services industry. The dynamic nature of the market and the evolving needs of clients continuously present new challenges and opportunities, which is why I am so motivated to increase efficiency and flexibility in our offerings. This can involve supporting additional order types in our order management systems, reducing latency in our risk control layer, or expanding access to more trading venues and platforms.


I have been fortunate to work with many exceptional leaders, who have inspired, encouraged and supported me throughout my career. These experiences and influences have been instrumental in sustaining my passion and dedication to the industry.

How has the industry changed in the time that you’ve been part of it?


When I began my career in the equity business, trading was largely manual, and the majority of trade volume was executed on exchanges. I vividly recall rushing to the NYSE floor to replenish order ticket printers during trading hours, with our floor clerks waiting to resume trading. Since then, the industry has advanced significantly, incorporating the latest technologies to automate everything from quality assurance to trading decisioning.

 

The teams I work with have also become more diverse in their backgrounds. My colleagues were primarily computer scientists and software engineers, and over the years have broadened to include PhDs in physics, economics, and electrical engineering. This diversity brings a wealth of knowledge and perspectives, driving innovation and enhancing our capabilities. 

 

There is also a greater emphasis on making trading systems more efficient by reducing redundancy and latency, thereby improving both performance and flexibility. While cloud computing gave the industry a big leap, the integration of advanced analytics and algorithms has enabled us to make more informed and timely trading decisions. Furthermore, the focus on risk management and regulatory compliance has increased, ensuring that our systems are not only fast and efficient but also secure, reliable and able to meet regulatory requirements.


What are you most proud of in your career and why?


Having worked with many incredible colleagues throughout my career, I am most proud of the credibility and trust I have built. Once I commit to a project, I ensure it is completed in the right way by embracing and supporting a culture of collaboration.

 

In addition to my professional responsibilities, I am dedicated to mentoring talented women in the financial industry, helping them navigate their careers. I also volunteer with the "Girls Who Code" program, where I support young girls in developing their coding skills and fostering a passion for technology.

 

Through these efforts, I aim to give back to the community and contribute to younger generations of women who may be entering the financial industry. My goal is to inspire and equip the next generation with the skills and confidence to succeed.


What are your hopes for the future of the industry?


The industry will increasingly leverage advanced technologies to build sophisticated tools for clients, traders, and regulators. Innovations such as machine learning will drive efficiency, enhance decision-making, and ensure compliance. I believe these advancements will not only transform how we operate but also help us improve as an industry in how we serve clients and meet regulatory requirements.

 

I am also hopeful that more women will join the financial industry. Diversity in thought and experience is crucial for fostering innovation and addressing the complex challenges we face. I am passionate about encouraging more women to pursue careers in finance and technology, as I believe it will lead to a more inclusive and dynamic industry. By supporting initiatives that promote diversity and mentorship programs, I believe we can create an environment where everyone has the opportunity to succeed and contribute to the industry's growth. 


Do you have any words of wisdom for the next generation of women in finance?


My advice to the next generation of women in finance is to stay curious and committed to continuous learning. Work diligently and be proactive in supporting other women entering the field. I am particularly inspired by the metaphor of a woman climbing a ladder who reaches down to help the next woman climb up. This image has deeply resonated with me and underscores why I make it a priority to mentor and support other women - your contributions can have a lasting and positive impact on those who follow!

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