Women in Finance Awards Q&A: Laura Klimpel, DTCC12.20.2021
Laura Klimpel, General Manager of DTCC’s Fixed Income Clearing Corporation (FICC) and Head of SIFMU Business Development, The Depository Trust & Clearing Corporation, won Excellence in Human Clearing at Markets Media Group’s 2021 Women in Finance (U.S.) Awards.
What have been the main drivers of your success?
I believe anyone’s success comes from a combination of things: experience, hard work and a great, collaborative team committed to common objectives. The same is true for me. I’m able to lean in to my experience in the clearing space, the law, regulation and business development, and identify and implement solutions that balance DTCC’s drive for innovation in clearing and settlement with the industry’s legal and regulatory framework. Working closely with my team and leveraging their skills and strengths, we’ve been able to expand the use of central clearing for fixed income transactions, bringing increased levels of safety and soundness to the markets while considering the legal and regulatory landscape.
How would you describe your work/management ‘style’?
I feel incredibly lucky to be surrounded by such a smart, talented and collaborative group of colleagues at DTCC. As a leader, my main objective is to create an environment where we can leverage everyone’s expertise and strengths. I’m a firm believer that the whole is stronger than the sum of its parts, so I welcome the opportunity to partner closely with my colleagues and with my team – each experts in their own fields, with varied backgrounds and perspectives – to work together towards achieving a specific goal. This approach, coupled with strong project management skills and a healthy focus on the details, enables us to deliver our best work.
What’s your motivation for going to work every day?
I’m motivated by the work DTCC is doing each and every day, and the role we all play in delivering upon the firm’s important mission of protecting financial markets. The engagement and positive focus I see from my team, our clients and other key stakeholders as well as the continued pursuit of efficiency and driving improvements to how financial markets operate are major factors in why I enjoy my work.
Who has been your main influence?
I’ve had the benefit of working with some incredibly talented individuals over the course of my career, from lawyers, to government officials to business, risk, technology and operations experts. Their mentorship and guidance have enabled me to round out my expertise and world view. But, it’s not only people that have shaped me professionally, experiences have too. Entering into the industry at the start of the financial crisis and witnessing firsthand the impact of that event, and then supporting the industry as the legislative and rulemaking process was introduced, have definitely shaped my perspective and my core belief in the need for firms like DTCC who are entrusted with ensuring the safety and soundness of markets.
Tell us about a passion outside of business.
I have many passions, but one incredibly important person shapes much of my current focus outside of work: my 8-year old son. My son is on the Autism spectrum and supporting and advocating for him has made me even more passionate about finding ways to support and be an advocate for the rights of all neurodivergent individuals, especially children.
What are your future goals?
Professionally, I look forward to continuing to partner with my colleagues at DTCC and across the industry to further enhance how financial markets operate, for the benefit of firms and individual investors. Personally, I look forward to seeing my children grow up and reaching their full potential.
As rates and volatility rise, the need to optimise the value of collateral is greater than ever.
CEDX is planning to expand its range of products in 2023, subject to regulatory approvals.
The CFTC regulated derivatives market and clearer was not included in FTX's bankruptcy filing.
Schroders cleared NDF trades across a Asian and Latam currency pairs via Citi.
The derivatives venue owned by FTX wanted to offer products that were not fully collateralized.