Latest / Leading By Example: Executives Making An Impact / The Science of Leadership: Raj Seshadri, Chief Commercial Payments Officer, Mastercard
Transcript
- 0:08Speaker 1: The one thing you learn in physics is just because
- 0:09Speaker 1: something feels it doesn't mean it's the end of the world.
- 0:11Speaker 1: It just means you've got to try a different path,
- 0:13Speaker 1: you got to try a different combination. And so that
- 0:16Speaker 1: flexibility and the fluidity of an approach while being structured,
- 0:20Speaker 1: while having a clear idea of what is it that
- 0:23Speaker 1: one needs to get done. I think it translates very
- 0:25Speaker 1: well from academia into the business world.
- 0:30Speaker 2: What do you get when you cross a scientist with
- 0:34Speaker 2: a C suite executive? A leader who knows how to
- 0:38Speaker 2: stay grounded in uncertainty and move forward with clarity. Hey everyone,
- 0:45Speaker 2: I'm Jessica Chen, host of Leading by Example. I'm also
- 0:49Speaker 2: an Emmy Award winning journalist and author of the book
- 0:52Speaker 2: Smart Not Loud, How to Get noticed at work for
- 0:55Speaker 2: all the right reasons. Today I'm talking with Raj Sayshadri.
- 1:00Speaker 2: She's a business leader with more than three decades of experience,
- 1:03Speaker 2: and currently she serves as Chief Commercial Payments Officer at MasterCard,
- 1:08Speaker 2: where she spent the last decade helping shape the future
- 1:11Speaker 2: of global payments. But before any of that, Raj was
- 1:15Speaker 2: a physicist, spending her days in the lab testing hypotheses,
- 1:19Speaker 2: running experiments, and learning how to sit with the unknown.
- 1:24Speaker 2: She didn't realize it at the time, but that training
- 1:27Speaker 2: would become a foundational piece of her leadership style, because,
- 1:31Speaker 2: as it turns out, the same mindset that drives scientific
- 1:34Speaker 2: breakthroughs that curiosity, iteration, and resilience is exactly what makes
- 1:39Speaker 2: a great leader. In this conversation, Raj shares how she
- 1:43Speaker 2: uses the scientific method to make everyday business decisions, implement
- 1:48Speaker 2: new strategies, and more effectively communicate with her team. She
- 1:52Speaker 2: opens up about her own pivot from academia to the
- 1:55Speaker 2: corporate world and how she learned to approach managing people
- 1:59Speaker 2: and instead of experiments. We also get into how she
- 2:02Speaker 2: approaches leadership today, like staying deeply involved in hiring and
- 2:08Speaker 2: prioritizing a culture of not only inclusion, but decency within
- 2:12Speaker 2: her organization. Roj shows us that sometimes the best leaders
- 2:18Speaker 2: aren't the ones with all the answers, They're the ones
- 2:21Speaker 2: willing to test, learn and evolve in real time. I'm
- 2:28Speaker 2: Jessica Chen and this is leading by example. Raj, thank
- 2:34Speaker 2: you so much for taking the time to spend this
- 2:37Speaker 2: morning with us, And just to get started, can you
- 2:39Speaker 2: tell us a little bit about who you are and
- 2:41Speaker 2: the work that you do.
- 2:43Speaker 1: Thank you, Jessica. So, I am a former physicist strategy consultant.
- 2:48Speaker 1: I've let businesses, grown them, let people for many many years.
- 2:51Speaker 1: Now I work at MasterCard and these days I run
- 2:55Speaker 1: a commercial and new payment flows business.
- 2:58Speaker 2: So I've been doing some research on you, and I
- 3:00Speaker 2: think what makes your background quite fascinating is how you
- 3:04Speaker 2: started with physics. But even before we get to that,
- 3:07Speaker 2: I want to understand Raj from when you were born
- 3:11Speaker 2: and raised in India. So can you tell me a
- 3:13Speaker 2: little bit about growing up in India and what were
- 3:16Speaker 2: some of the values that perhaps your parents taught you
- 3:18Speaker 2: about your career and how you should think about the future.
- 3:22Speaker 1: Yes, I grew up in India. I came to the
- 3:24Speaker 1: United States when I was eighteen, so all the formative
- 3:26Speaker 1: years were in India. And you know, it's interesting I
- 3:29Speaker 1: had a sense of leadership even then watching my father,
- 3:32Speaker 1: who ran public sector companies. My uncle and aunt were physicians.
- 3:36Speaker 1: I realized that it's less about their title and what
- 3:39Speaker 1: exactly they do, but more about the responsibility and the
- 3:43Speaker 1: impact that they have. I was really shaped by my mother,
- 3:46Speaker 1: who went back to school when I was growing up
- 3:48Speaker 1: and she got a degree and then she had a
- 3:50Speaker 1: career while I was growing up and seeing her do that,
- 3:54Speaker 1: the level of adaptability and resiliency and determination and reinvention
- 3:59Speaker 1: that it takes, do you realize that that's all part
- 4:01Speaker 1: of having a career. And back in the day in
- 4:04Speaker 1: India when I was growing up, I was lucky in
- 4:06Speaker 1: that I had my aunt and my mother, both of
- 4:07Speaker 1: whom worked and had professions. But it was unusual most
- 4:11Speaker 1: women did not work. They instilled in me this notion
- 4:14Speaker 1: that gender equity comes from every woman should have the
- 4:18Speaker 1: freedom to learn to work and very important to earn
- 4:22Speaker 1: right and that's what a career is about. So early
- 4:25Speaker 1: notions of like leadership and career were definitely formed by
- 4:29Speaker 1: my family in India.
- 4:31Speaker 2: So as a young girl, were they perhaps pushing you
- 4:34Speaker 2: in a particular direction or do they give you a
- 4:36Speaker 2: lot of the freedom to choose what career path you wanted.
- 4:40Speaker 1: They gave me plenty of freedom to choose what career
- 4:42Speaker 1: path I wanted. Having career was never forced on me,
- 4:45Speaker 1: but it was encouraged. It was you know, you need
- 4:47Speaker 1: to do something with your life where you have responsibility,
- 4:50Speaker 1: you have impact, you've shaped the world, but there was
- 4:52Speaker 1: no particular path. I actually almost went to medical school
- 4:55Speaker 1: in India, almost went to engineering school in India, and
- 4:58Speaker 1: then I got admissions to Mantua, your college here in
- 5:00Speaker 1: the United States, to do a liberal arts degree. And
- 5:03Speaker 1: one of the reasons I chose to come here is
- 5:05Speaker 1: because I wasn't sure what I wanted to do. Because
- 5:07Speaker 1: there you pick a path and you typically stay in
- 5:09Speaker 1: that path for pretty much the rest of your career.
- 5:12Speaker 1: And there were so many different things I was interested
- 5:13Speaker 1: in that the liberal arts education sounded much more diverse,
- 5:17Speaker 1: with many more things that one could do with it.
- 5:20Speaker 1: So no, they never pushed me in any one direction.
- 5:22Speaker 1: Of course, you know, growing up in India, like you're
- 5:24Speaker 1: a doctor or you're an engineer, and if failing that,
- 5:26Speaker 1: you can be a lawyer. Was definitely part of the culture,
- 5:29Speaker 1: as you can imagine. But they let me choose. They
- 5:31Speaker 1: absolutely let me choose.
- 5:33Speaker 2: That's fantastic. And then so you landed in physics. Can
- 5:37Speaker 2: you tell me what was it about physics that made
- 5:40Speaker 2: you go, I want to study bes I.
- 5:42Speaker 1: Came here to college and some of my closest professors
- 5:46Speaker 1: were in physics and math. I really enjoyed the area.
- 5:48Speaker 1: It's very quantitative, it's very structured, and just the scientific
- 5:52Speaker 1: method is very special. That's what drew me to it.
- 5:54Speaker 1: This notion that you see the world around you, you
- 5:57Speaker 1: observe it, and you try and understand it and explain
- 6:01Speaker 1: it and make it sort of something you can predict.
- 6:03Speaker 1: And you do it by having hypotheses, by experimentation. I
- 6:07Speaker 1: was an experimental physicist. By experimenting, the theorists would come
- 6:11Speaker 1: up with a theory and you'd say, you know, is
- 6:13Speaker 1: it right or wrong? Let me see if I can
- 6:14Speaker 1: prove or disprove it, and how can I iterate it
- 6:16Speaker 1: to make it closer to what we're observing so that
- 6:19Speaker 1: it could predict what we're observing. So it sort of
- 6:21Speaker 1: teaches you how to think, how to structure. You become
- 6:24Speaker 1: a lifelong learner because it teaches you how to get
- 6:27Speaker 1: up the learning curve on things that you haven't done before.
- 6:31Speaker 1: You learn how to break down complex problems into parts
- 6:34Speaker 1: and think about each part. You basically approach things saying
- 6:37Speaker 1: the problem can be solved. There's no unsolvable problem, it's
- 6:40Speaker 1: just that we haven't found the solution yet. You value
- 6:44Speaker 1: criticism from the peers because you know that'll make it better.
- 6:47Speaker 1: So you learn to iterate using their observations, their feedback,
- 6:50Speaker 1: their questions. You learn from failure. Failure is not failure.
- 6:53Speaker 1: Failure just means it's another iteration. You've got to figure out, Okay,
- 6:56Speaker 1: that path didn't work, Let's try a different path. There's
- 6:58Speaker 1: a level of time, honorance for ambiguity, no fear of
- 7:02Speaker 1: the unknown. These are all things that the scientific method
- 7:05Speaker 1: teaches you. And I loved physics.
- 7:07Speaker 2: It's so interesting because you eventually got your PhD in physics,
- 7:11Speaker 2: so you spent years investing in learning this skill. And
- 7:15Speaker 2: I want to read this quote because I thought it
- 7:17Speaker 2: was so interesting. When you started to decide to pivot
- 7:20Speaker 2: away from physics, you said quote, I love physics, I
- 7:23Speaker 2: love math, but I was learning more and more about
- 7:26Speaker 2: less and less and talking to fewer and fewer people.
- 7:31Speaker 2: That is so interesting. Can you tell me what was
- 7:33Speaker 2: going on?
- 7:33Speaker 1: What does that mean, Jessica, you've clearly done your homework.
- 7:37Speaker 1: I can't remember when I said that, but I do
- 7:38Speaker 1: remember saying it. In physics, you go very deep into
- 7:42Speaker 1: a topic and you spend years researching and iterating and
- 7:45Speaker 1: discovering and problem solving in it, and I really enjoyed that,
- 7:50Speaker 1: but I wanted to go broad, not deep. So that's
- 7:52Speaker 1: what I mean by you learn more and more, but
- 7:54Speaker 1: less and less, Like you could go super super super
- 7:56Speaker 1: deep in one area and you talk to the few
- 7:58Speaker 1: people around the world that my be doing the same thing.
- 8:01Speaker 1: And I was an experimental physicist in a lab. And
- 8:04Speaker 1: once you sure about what you are looking at and
- 8:07Speaker 1: your explanation for it, you might publish a paper, you
- 8:10Speaker 1: might go to a conference and share your findings with
- 8:12Speaker 1: others and listen to what they have found. But it's
- 8:15Speaker 1: not working with people. You don't have contact with people
- 8:17Speaker 1: all the time. And so I realized, you know, a
- 8:20Speaker 1: little bit of self discovery if what I liked about
- 8:22Speaker 1: what I was doing and what I missed in what
- 8:26Speaker 1: I was doing. I love the breadth of ideas. I
- 8:29Speaker 1: love working with teams, love working with people, and while
- 8:32Speaker 1: I was doing that in physics, I wasn't doing it
- 8:34Speaker 1: with a lot of people, and so it was just
- 8:36Speaker 1: a journey of discovery. I think everyone goes through this
- 8:38Speaker 1: to learn take a clear mirror to yourself. And you're
- 8:41Speaker 1: doing this constantly right to say what am I good at?
- 8:44Speaker 1: What am I not good at what do I get
- 8:47Speaker 1: out of what I'm doing right now that I love?
- 8:49Speaker 1: What am I missing that I would love? I think,
- 8:52Speaker 1: and it's worth experimenting to see whether if I get it,
- 8:55Speaker 1: would I love it. So that's the journey of discovery.
- 8:58Speaker 2: And then in that discovery, you decided to go to
- 9:01Speaker 2: business score and then what did that hell you about
- 9:04Speaker 2: where you really wanted to focus your career.
- 9:07Speaker 1: It's funny, I don't think I ever, at any point
- 9:09Speaker 1: knew exactly where I'd end up. I tell young people
- 9:12Speaker 1: all of the time, which is you might have a plan,
- 9:13Speaker 1: this a three five year plan, but keep your eyes open,
- 9:16Speaker 1: let opportunities come your way. Doors will open that you
- 9:18Speaker 1: didn't know existed. So be open to what's out there,
- 9:21Speaker 1: but have some sense of a plan behind you, but
- 9:24Speaker 1: don't be so rigid that you're so focused on just
- 9:26Speaker 1: that plan. That's really what took me to business school,
- 9:29Speaker 1: and then I went to consulting because it was like
- 9:31Speaker 1: an extension of business school and an extension of academia
- 9:34Speaker 1: in a way. And then ended up in the corporate
- 9:36Speaker 1: world where I did strategy and then I led large
- 9:38Speaker 1: teams and delivered growth in businesses transformed businesses, et cetera.
- 9:43Speaker 1: So it wasn't like I knew where I was going,
- 9:45Speaker 1: I knew the destination. It was more the journey and
- 9:48Speaker 1: enjoying each step of the journey and thinking about it
- 9:51Speaker 1: and thinking about the next two or three steps. Were
- 9:53Speaker 1: also being flexible so that if there's a different step
- 9:55Speaker 1: in a different direction, you're willing to try and experiment
- 9:57Speaker 1: with it and iterate and try it. Business the world
- 10:00Speaker 1: is like the academic world, right, which is you're iterating,
- 10:03Speaker 1: you're experimenting, you're testing, you're learning, you're understanding what is
- 10:08Speaker 1: it that might drive something forward, or what might drive
- 10:12Speaker 1: a person forward or a team forward, and then you
- 10:15Speaker 1: experiment with it, and sometimes it works. Very often it
- 10:17Speaker 1: doesn't work, so you have to tweak it. The one
- 10:19Speaker 1: thing you learn in physics is just because something fails,
- 10:21Speaker 1: it doesn't mean it's the end of the world. It
- 10:23Speaker 1: just means you've got to try a different path. You've
- 10:25Speaker 1: got to try a different combination that flexibility and that
- 10:28Speaker 1: fluidity of an approach while being structured, while having a
- 10:32Speaker 1: clear idea of what is it that one needs to
- 10:34Speaker 1: get done. I think it translates very well from academia
- 10:37Speaker 1: into the business world.
- 10:39Speaker 2: I can see kind of like how the scientific mindset
- 10:42Speaker 2: has really carried with you into your role and even
- 10:45Speaker 2: thinking about the business world. I want to now dive
- 10:48Speaker 2: into more of like the leadership lessons that you learned.
- 10:51Speaker 2: What were some of the things that you saw, conversations
- 10:54Speaker 2: that you had that made you start to think about
- 10:57Speaker 2: leadership in the way you know it today.
- 11:00Speaker 1: You know it's even when you're not a leader, you're
- 11:02Speaker 1: being led, and then you grow into a leader, right,
- 11:05Speaker 1: You have smaller and smaller roles that then get bigger
- 11:07Speaker 1: and bigger and bigger. And you watch people, you watch leaders,
- 11:10Speaker 1: you watch managers, and you always say, gosh, that part
- 11:13Speaker 1: of what she did, I'd love to be able to
- 11:15Speaker 1: do if I was in her shoes. That part of
- 11:17Speaker 1: what she did I probably wouldn't do. On this constant
- 11:19Speaker 1: observing and learning journey all your life. And I think
- 11:23Speaker 1: that comes from having a lot of curiosity about the
- 11:25Speaker 1: world and curiosity about what people are doing and how
- 11:28Speaker 1: they're leading. One of the earliest things I remember thinking
- 11:31Speaker 1: about is one leads from behind. You need followership. You
- 11:34Speaker 1: can't be a leader without followers and leading from behind
- 11:37Speaker 1: and letting people do what they need to do, but
- 11:40Speaker 1: within a structured context where what they're doing it's like
- 11:43Speaker 1: a jigsaw puzzle. What they're working on, the pieces assemble
- 11:46Speaker 1: into a beautiful picture, because if it doesn't, then it's
- 11:49Speaker 1: less organized. That's what a leader provides a vision, dividing
- 11:53Speaker 1: up the work, finding the right people appropriate for the work,
- 11:56Speaker 1: not necessarily your echoes or your images, letting them work,
- 11:59Speaker 1: give them with freedom, removing roadblocks, and then always thinking
- 12:03Speaker 1: about followership. Am I doing the right thing to help
- 12:05Speaker 1: them be successful? So that's one of the things I remember,
- 12:09Speaker 1: And then the other one is just having grown up
- 12:11Speaker 1: in physics, I was very conscious of technology, change, innovation,
- 12:15Speaker 1: et cetera. And they're being able to understand what new
- 12:19Speaker 1: technologies bring, what technological changes bring, what uncertainty brings, and
- 12:24Speaker 1: being able to not be afraid of it, but to
- 12:27Speaker 1: embrace it, to try it, to experiment with it. I
- 12:30Speaker 1: think that comes as part of leadership too, because you're
- 12:32Speaker 1: always facing new uncertain environments. I mean, we're living through
- 12:36Speaker 1: lots of geopolitical and macroeconomic stresses right now. We have
- 12:39Speaker 1: been living through in our entire generation technological change, information technology,
- 12:44Speaker 1: you know, AI, etc. And so what does that do.
- 12:48Speaker 1: What's the latest trend there? How can you embrace it?
- 12:51Speaker 1: How can you learn about it? These are all things
- 12:53Speaker 1: that I think shape a leader. And I remember thinking
- 12:56Speaker 1: about that as I was growing up, and you continue
- 12:59Speaker 1: to grow. I'm not done growing, by the way, Like
- 13:00Speaker 1: I said, there's no destination here.
- 13:03Speaker 2: You're like, what do you think can I learn? Moving forward?
- 13:06Speaker 1: Right?
- 13:07Speaker 2: It's so interesting you said the word curiosity, and I
- 13:10Speaker 2: imagine a lot of that curiosity must have come from
- 13:12Speaker 2: perhaps your scientific background, where you are asking those questions.
- 13:16Speaker 2: And I wanted to understand. Have you ever had a manager,
- 13:21Speaker 2: maybe perhaps early on in your career that really taught
- 13:24Speaker 2: you Number one, this is how to lead, But on
- 13:27Speaker 2: the flip side, this is now not how we should
- 13:30Speaker 2: lead people. Do you have any personal experiences of what
- 13:33Speaker 2: you saw and how that shaped.
- 13:35Speaker 1: You, Jessica, there was so many managers, because remember consulting,
- 13:39Speaker 1: every project is a different management team, right. And then
- 13:41Speaker 1: even when I left consulting, all the years I've been
- 13:44Speaker 1: in corporate America, there have been lots of managers, managers, managers,
- 13:47Speaker 1: senior leaders. Right. So there are lots of examples in
- 13:50Speaker 1: both categories. There's no one person who embodies either category.
- 13:54Speaker 1: One of the things I learned is you said curiosity.
- 13:57Speaker 1: Always ask questions. Always make sure you understand what the
- 14:00Speaker 1: person is saying, or doing or coming from. You may
- 14:03Speaker 1: not be an expert in their area, but you do
- 14:05Speaker 1: want to make sure you understand how they're thinking about it.
- 14:08Speaker 1: You want to learn about it, You want to look
- 14:09Speaker 1: at other sources of information to get smart on it.
- 14:12Speaker 1: And good leaders do that, and I had leaders who
- 14:14Speaker 1: did that. The flip side of it is you also
- 14:16Speaker 1: have to have a point of view as a leader.
- 14:18Speaker 1: If you don't have the particular technical expertise, it might
- 14:21Speaker 1: be asking other people for their view on what's being done.
- 14:25Speaker 1: If you have the expertise to be able to think
- 14:27Speaker 1: about it and judge is what's being done the most
- 14:29Speaker 1: efficient effective way of doing it. To be able to
- 14:32Speaker 1: have a point of view, to have a hypothesis, to say,
- 14:34Speaker 1: I think this is the answer. Have we thought about this,
- 14:37Speaker 1: let's prove or disprove it. Being able to also help
- 14:40Speaker 1: the person think about what they could do to get
- 14:44Speaker 1: their faster better to come up with a more complete
- 14:46Speaker 1: answer is also what a leader does. Basically helping the
- 14:49Speaker 1: people do the best work they can and so over
- 14:52Speaker 1: the course of my career, I saw lots of different
- 14:54Speaker 1: leaders of many different styles, extroverts, introverts, visionary leaders think.
- 15:00Speaker 1: But the bottom line is the things that they had
- 15:02Speaker 1: in common that I wanted to embrace was this proving,
- 15:06Speaker 1: this understanding, this questioning, you know, helping the person think
- 15:10Speaker 1: about what they were doing to help them do it
- 15:13Speaker 1: in a different way perhaps that would be better. And
- 15:15Speaker 1: removing roadblocks so when they get stuck, being there as
- 15:18Speaker 1: a sounding board to help them think it through, whether
- 15:20Speaker 1: it's a technical problem or whether it's a people problem
- 15:22Speaker 1: somebody on their team that they're struggling with, being a
- 15:25Speaker 1: sounding board for them.
- 15:26Speaker 2: I'm thinking about our listeners right now, and I imagine
- 15:29Speaker 2: our listeners are number one leaders already. Maybe they're managing
- 15:33Speaker 2: a team, they're managing a lot of people, and they're
- 15:36Speaker 2: listening to this to glean insight from how someone, for example,
- 15:39Speaker 2: like you are leading people. And then I'm thinking about
- 15:41Speaker 2: maybe we have other listeners who are wanting to learn
- 15:45Speaker 2: these leadership skills, which is why they're listening to this podcast,
- 15:48Speaker 2: because again they want to learn how fantastic leaders like
- 15:51Speaker 2: yourself are leading. And so you said the words point
- 15:54Speaker 2: of view, having a strong point of view, not being
- 15:57Speaker 2: afraid to test it, not being afraid to talk about
- 16:00Speaker 2: now from a younger leader's point of view, I feel
- 16:03Speaker 2: like they might walk into a meeting and then they
- 16:06Speaker 2: might go, oh, my gosh, I don't want to say
- 16:08Speaker 2: the wrong thing. I have a point of view, but
- 16:10Speaker 2: I'm afraid it's not the right thing. How would you
- 16:13Speaker 2: encourage someone in that kind of position to build the
- 16:17Speaker 2: confidence to say something when stakes sometimes can feel so
- 16:21Speaker 2: high in a corporate environment.
- 16:23Speaker 1: The first thing you have to understand is you have
- 16:25Speaker 1: to have the confidence in yourself, but not to the
- 16:28Speaker 1: point where you walk in and dominate the conversation. Right.
- 16:30Speaker 1: I mean because as an apprentice when you're young, you're
- 16:33Speaker 1: learning too from the people around you. But when you
- 16:36Speaker 1: have a point of view or an observation, if you're
- 16:39Speaker 1: nervous about saying it in a big meeting, don't say
- 16:41Speaker 1: it in a big meetings. Start with say to a
- 16:42Speaker 1: couple of people on the side and say, hey, what
- 16:44Speaker 1: do you think this could be an idea? Sort of
- 16:46Speaker 1: build consensus around it, or they might shut it down
- 16:48Speaker 1: and say that's a bad idea, And then you think
- 16:50Speaker 1: about it, right, and so you're not looking for the
- 16:52Speaker 1: big moment, being able to think and express your point
- 16:55Speaker 1: of view and interact with everyone individually in small groups.
- 16:59Speaker 1: As you do that, your points of view do emerge,
- 17:01Speaker 1: and then you also emerge as a good thought partner
- 17:03Speaker 1: for them, so they might bring their ideas to you
- 17:06Speaker 1: and you can build on it. And so I really
- 17:08Speaker 1: believe in this concept of a team. It's not as
- 17:10Speaker 1: if somebody wakes up one morning as a brilliant insight
- 17:13Speaker 1: in a meeting. That happens sometimes, but usually it's a
- 17:15Speaker 1: set of ideas that coalescent, grow and get shaped and
- 17:19Speaker 1: get more pointed in their direction as the team works
- 17:22Speaker 1: on it and as people think about the different facets
- 17:24Speaker 1: of it.
- 17:25Speaker 2: You mentioned building consensus outside the meeting as a way
- 17:29Speaker 2: to you know, shop around this idea. And I remember
- 17:31Speaker 2: there was once this research that I read about how
- 17:34Speaker 2: a lot of times the buy and you do get
- 17:36Speaker 2: happens before the actual meeting itself. It's you finding those supporters,
- 17:39Speaker 2: those advocates. So you say that actually just reminds me
- 17:42Speaker 2: that there is study behind this that really touches show
- 17:45Speaker 2: a lot of times before the meetings, the decisions might
- 17:48Speaker 2: have already happened, or people have already formed their opinions, right, Yeah,
- 17:52Speaker 2: that could happen.
- 17:52Speaker 1: But you know, usually, at least in our culture, we
- 17:55Speaker 1: have something called the MasterCard way where we usually would
- 17:58Speaker 1: have an open, transparent conversation in the meeting. But that
- 18:00Speaker 1: doesn't mean you don't have conversations before the meeting to
- 18:03Speaker 1: test where your hypotheses are, where you could be wrong,
- 18:06Speaker 1: where you could be right, figure out where your peers
- 18:09Speaker 1: are and what they're thinking about. And that's just the
- 18:11Speaker 1: normal course of conversation. So you don't need to have
- 18:13Speaker 1: everything happen before the meeting, because that's quite inefficient. Then
- 18:16Speaker 1: why I have the meeting, but you have a lot
- 18:17Speaker 1: of the conversations to think about the topic. You know,
- 18:21Speaker 1: the usual course of your day, so that when you
- 18:23Speaker 1: come into a meeting on a particular topic, you have
- 18:26Speaker 1: some sense of what your views are and what other
- 18:28Speaker 1: people's views are, and that helps.
- 18:33Speaker 2: My guest is Raj Seshadri, Chief Commercial Payments Officer and MasterCard.
- 18:38Speaker 2: It's time for a quick break and when we come back,
- 18:41Speaker 2: we'll find out what it takes to stay ahead of
- 18:43Speaker 2: the curve and how to know if a risk is
- 18:46Speaker 2: worth taking. Welcome back to leading by example, Raj. We
- 19:03Speaker 2: know your background is very scientific, but in talking about leadership,
- 19:06Speaker 2: I'm thinking about how do you find the balance between
- 19:10Speaker 2: managing people and you know, those human characteristics versus solving
- 19:16Speaker 2: the technical problems that need to be solved. What's the
- 19:19Speaker 2: balance and how do you think about both?
- 19:21Speaker 1: You have to think about both. The scientific process I
- 19:24Speaker 1: was talking about that is applicable to the business world
- 19:26Speaker 1: where you have a hypothesis and you iterate and you
- 19:28Speaker 1: test and your experiment and you know you have the
- 19:31Speaker 1: ability to pivot and be agile to get to the
- 19:33Speaker 1: best answer. That's to some degree in a different context
- 19:36Speaker 1: true when you work with people as well, because different
- 19:39Speaker 1: people are different, They listen differently, they motivated differently, and
- 19:43Speaker 1: so how you influence them, how you coach them, how
- 19:47Speaker 1: you bring out the best in them, how you give
- 19:49Speaker 1: them positive and constructive feedback depends on the person. And
- 19:53Speaker 1: so as a leader, you know, as you grow you
- 19:55Speaker 1: develop a set of skills that again, it's that flexibility
- 19:58Speaker 1: and that iteration where based on the individual that you're coaching,
- 20:02Speaker 1: you figure out what might work and then you try
- 20:05Speaker 1: and see if it works, and if it doesn't work,
- 20:07Speaker 1: you tweak it. You iterate, and you figure out how
- 20:09Speaker 1: you can communicate with that person so that there's that connection.
- 20:13Speaker 1: And at the end of the day, what matters is
- 20:15Speaker 1: the coaching and bringing out the best in the person.
- 20:18Speaker 1: And so then you've got to figure out as a leader,
- 20:20Speaker 1: what techniques, what influencing skills, what methods work the best
- 20:23Speaker 1: with this person. So the same concept of like having
- 20:26Speaker 1: a HYPOTHESI is iterating, testing, experimenting works in the people context.
- 20:30Speaker 2: Two bringing out the best in people? Do you have
- 20:33Speaker 2: a particular story or an example of how you approached
- 20:37Speaker 2: trying to bring out the best in someone?
- 20:40Speaker 1: I think a key thing is making sure they know
- 20:43Speaker 1: what question are they working on, what are they trying
- 20:45Speaker 1: to achieve, what is their goal, what are they trying
- 20:47Speaker 1: to accomplish over what time frame and with what kind
- 20:50Speaker 1: of resourcing, And therefore, what is the method that they using,
- 20:55Speaker 1: and is that the best approach or the best way
- 20:57Speaker 1: to approach the problem.
- 20:59Speaker 2: It almost kind of sounds like as a leader to
- 21:01Speaker 2: bring out the best in people, you almost want to
- 21:03Speaker 2: be very clear on setting expectations.
- 21:07Speaker 1: Yeah, as setting a direction and a vision of what
- 21:10Speaker 1: it is that you're trying to accomplish and what role
- 21:13Speaker 1: the work that that person is doing or that team
- 21:15Speaker 1: is doing, giving them a lot of room so that
- 21:18Speaker 1: they do it, but at the same time being there
- 21:20Speaker 1: as almost a safety net should they trip up, and
- 21:23Speaker 1: also as a guide to help them think through whether the.
- 21:27Speaker 2: Approach they're taking is the right approach. So now let's
- 21:30Speaker 2: talk about your role at MasterCard. Can you tell us
- 21:34Speaker 2: a little bit about what is it that you do,
- 21:35Speaker 2: what is it that you manage, and just kind of
- 21:38Speaker 2: an overview of it.
- 21:40Speaker 1: So this is my third role at MasterCard. Love this firm,
- 21:42Speaker 1: love the culture, and I'm responsible for a global commercial
- 21:46Speaker 1: payments and money movement business. And so that is payments
- 21:50Speaker 1: and money movement for small businesses, mid market companies, large corporations,
- 21:56Speaker 1: also governments, individuals and people moving money to smaller businesses
- 22:00Speaker 1: into people around the globe. It's global. It's really fun
- 22:03Speaker 1: and very interesting.
- 22:05Speaker 2: Oh my gosh. Okay, so your scope is quite wide
- 22:08Speaker 2: but also very diverse. You're truly now a leader, a
- 22:12Speaker 2: leader at MasterCard, a leader at the firm, and in
- 22:14Speaker 2: many ways building that culture. And I imagine it's not
- 22:18Speaker 2: an easy role in the sense of how you have
- 22:20Speaker 2: to be thinking about strategy, but then execution. How do
- 22:24Speaker 2: you think about the two on a day to day basis.
- 22:27Speaker 1: Yes, it is absolutely about both. And you have to
- 22:30Speaker 1: be able to go back and forth between the highest
- 22:32Speaker 1: levels of strategy down to the most detailed levels of
- 22:34Speaker 1: execution in the right mix, in the right way. In
- 22:36Speaker 1: the businesses that I have, the addressable market is enormous.
- 22:40Speaker 1: In commercial payments alone, there's eighty trillion dollars out there.
- 22:43Speaker 1: Three trillion is carded, which means the seventy seven trillion
- 22:46Speaker 1: where one could do something different, and that's true for
- 22:48Speaker 1: money movement as well. And so the ability to actually
- 22:52Speaker 1: have a vision of path that attacks the very large
- 22:55Speaker 1: addressable opportunity, but in a way that's tangible, practical. You know,
- 22:59Speaker 1: you can't follow the apple. You've got to figure out
- 23:01Speaker 1: what bites to take of the apple, and that's important,
- 23:03Speaker 1: and how you eat the apple. I mean, I don't
- 23:05Speaker 1: know why I'm an apple analogy, but it matters, right
- 23:07Speaker 1: because there are more efficient ways of doing it places
- 23:10Speaker 1: where it is easier to go first and you learn
- 23:12Speaker 1: more versus going to the hardest place first. And so
- 23:15Speaker 1: having a strategic vision of what you want to do
- 23:18Speaker 1: at the top level, but then having a vision of
- 23:20Speaker 1: the practical strategy of what are you going to do
- 23:23Speaker 1: over the next year, three years, five years in order
- 23:26Speaker 1: to get going in that direction is important, and assembling
- 23:29Speaker 1: the right team is important, and then giving them the
- 23:32Speaker 1: pieces of the puzzle to go after, making sure they collaborate,
- 23:36Speaker 1: they work well together, they're willing to call it when
- 23:38Speaker 1: it's not working, So creating that culture, all of that
- 23:42Speaker 1: is part of leadership. How do you.
- 23:44Speaker 2: Think about when it comes to execution, the balance between
- 23:49Speaker 2: taking that risk saying okay, let's try this, versus deciding
- 23:53Speaker 2: maybe this is something we need a little bit more
- 23:55Speaker 2: time to think about and analyze. How do you make
- 23:58Speaker 2: a decision like that? Where and in many ways the
- 24:00Speaker 2: world is moving so fast.
- 24:03Speaker 1: You always have to have a screen of saying, here
- 24:05Speaker 1: are the things that I know are working, and therefore
- 24:07Speaker 1: we can pour fuel on and scale and go global
- 24:10Speaker 1: with and let's figure out how to do it as
- 24:12Speaker 1: quickly as possible. Here are things that we trying and experimenting,
- 24:15Speaker 1: and they seem to be some green shoots, some promising results,
- 24:19Speaker 1: but we still have a little more iteration and testing
- 24:21Speaker 1: to do. And here are some places where it's a bet,
- 24:25Speaker 1: let's see if this works. Don't know if it will work,
- 24:28Speaker 1: but it's worth a shot. You've got to be able
- 24:30Speaker 1: to categorize things into different buckets, and then you have
- 24:33Speaker 1: to be willing to sort of be fluid as things
- 24:36Speaker 1: move back and forth between the buckets. Right. And related
- 24:39Speaker 1: to that is also you know what are customer is
- 24:40Speaker 1: looking for? Is what we're doing consistent with what they're
- 24:44Speaker 1: looking for. Where is the world of technology and AI
- 24:47Speaker 1: and data. You know, we have something called the MasterCard Way.
- 24:49Speaker 1: It's very collaborative, it's very collegial, it is very innovative
- 24:53Speaker 1: and dynamic. And so the three big pillars we think
- 24:57Speaker 1: about within the Mastercardway. One is creating value, to make
- 24:59Speaker 1: sure so you can actually create value for your customers
- 25:02Speaker 1: at scale. This second dimension is sort of growing together,
- 25:05Speaker 1: this notion that none of us are alone. We're doing
- 25:08Speaker 1: things with each other together. It's got to work together
- 25:11Speaker 1: and then moving fast. And that comes back to the
- 25:14Speaker 1: pivoting and iterating I was talking about, which is when
- 25:17Speaker 1: you see something tried quickly or if it's working scale
- 25:20Speaker 1: it quickly with your eyes open because you might have
- 25:22Speaker 1: to tweak something as you go. It's almost like a
- 25:24Speaker 1: soccer team or any sports. You understand the objective of
- 25:27Speaker 1: the game. Everyone is a part to play, but you
- 25:30Speaker 1: have to work as a team. You don't win unless
- 25:32Speaker 1: you work as a team. These are all the things
- 25:34Speaker 1: that shape how we work together at this firm.
- 25:37Speaker 2: I believe right now we are living through such an
- 25:40Speaker 2: interesting time, right There's so much technology, there's so much advancement,
- 25:44Speaker 2: but at the same time, there's a lot of uncertainty
- 25:46Speaker 2: of like what this actually is going to look like?
- 25:49Speaker 2: As a leader, how do you lead a team through?
- 25:52Speaker 2: Perhaps what is a lot of uncertainty happening in the
- 25:55Speaker 2: world right now?
- 25:56Speaker 1: Yeah, So the uncertainy the world at this present moment
- 25:59Speaker 1: comes in two forms. One is geopolitical or macroeconomic uncertainty.
- 26:02Speaker 1: I always think about the world in terms of what
- 26:04Speaker 1: does one control and what does one not control. So
- 26:07Speaker 1: that's a category of uncertainty that you don't necessarily control,
- 26:10Speaker 1: but you need to be able to understand and you
- 26:12Speaker 1: need to be able to assess react. That's the kind
- 26:15Speaker 1: of uncertainty that requires one type of agility. Then there's
- 26:19Speaker 1: the other kind of uncertainty that we live in, which
- 26:21Speaker 1: is technological uncertainty. Emerging technologies, new ways of looking at data, AI, automation,
- 26:28Speaker 1: so there, I think the world is more in the
- 26:29Speaker 1: category of what you control, and so there I believe
- 26:32Speaker 1: one should embrace it, try it. Not everything is fit
- 26:36Speaker 1: for purpose for every situation, but you need to understand
- 26:39Speaker 1: what's out there and then use it and bring it
- 26:42Speaker 1: into your world so that it helps you. I mean,
- 26:44Speaker 1: there's so many people who are afraid of it or
- 26:46Speaker 1: afraid it's going to do something to their jobs. Embrace
- 26:49Speaker 1: it because at the end of the day, I really
- 26:51Speaker 1: do believe it's going to help you individually. And then
- 26:54Speaker 1: you know, also incorporate it into your products. So we
- 26:56Speaker 1: launch the Virtual c Suite for small Businesses that brings
- 27:00Speaker 1: essentially executive skills in finance and marketing to a small
- 27:03Speaker 1: business that typically won't have access to that the way
- 27:06Speaker 1: a corporate does. So incorporate it into your products, and
- 27:09Speaker 1: as you do it, also learn about what responsible principles
- 27:13Speaker 1: are in how you think about data. This is the
- 27:16Speaker 1: space where I think all of us should be embracing
- 27:18Speaker 1: it in our own way and thinking about what we
- 27:20Speaker 1: could do better with it.
- 27:22Speaker 2: And it goes back to what you said, this agility,
- 27:24Speaker 2: this mindset of like you know, being flexible, being adaptable.
- 27:28Speaker 1: Yes, yes, And in both cases, you need to be
- 27:30Speaker 1: flexible and adaptable, just in different ways.
- 27:33Speaker 2: I know a huge part of your role is also
- 27:35Speaker 2: talking to customers. I'm curious when you walk into these
- 27:38Speaker 2: business meetings and it might be a new stakeholder, a
- 27:41Speaker 2: new regulator, a new potential investor, how do you approach
- 27:46Speaker 2: conversations in the sense of I need to build trust
- 27:49Speaker 2: with them.
- 27:50Speaker 1: Trust is something that you build with time. Right, This
- 27:54Speaker 1: is famous quote you win trust in drops and you
- 27:57Speaker 1: lose it by the buckets or.
- 27:59Speaker 2: Something like that.
- 28:00Speaker 1: But trust is something that you build over time with
- 28:04Speaker 1: a consistency of interaction, with a reputation, with the transparency
- 28:10Speaker 1: and clarity, with the reputation of collaborating, a reputation of
- 28:14Speaker 1: respecting points of view, whether you agree or disagree. When
- 28:17Speaker 1: you go out and talk to external constituents and even
- 28:20Speaker 1: within the firm and you're trying to understand their perspectives
- 28:23Speaker 1: and where they're coming from and what their needs are.
- 28:25Speaker 1: I think these dimensions are important. All of these things
- 28:29Speaker 1: go towards building trust.
- 28:31Speaker 2: I read somewhere that you are still very involved in hiring,
- 28:35Speaker 2: hiring and MasterCard. Can you tell me a little bit
- 28:38Speaker 2: about that.
- 28:40Speaker 1: Absolutely, I'm still involved in hiring. I love meeting candidates
- 28:43Speaker 1: and reviewing profiles and talking to them. I wish I
- 28:46Speaker 1: had more time to do it. There's some roles for
- 28:48Speaker 1: which when I do the interviewing, I'm actually doing the
- 28:51Speaker 1: assessment of the technical skills. There are other roles where
- 28:54Speaker 1: I may not be the best person to assess the
- 28:56Speaker 1: technical skills. That's not my purpose. I'm trying to assess cultural.
- 29:00Speaker 1: I'm trying to assess what they bring to the table
- 29:02Speaker 1: personality wise, style wise. Will they be a constructive addition
- 29:06Speaker 1: to the team. We have a very special culture. Will
- 29:10Speaker 1: they embrace the culture? Will they change the culture in
- 29:13Speaker 1: the right way for the right reasons after embracing it.
- 29:15Speaker 1: Because you're only as good as your talent on your
- 29:18Speaker 1: team and the culture of the team.
- 29:20Speaker 2: I actually read somewhere that you set the word decency
- 29:24Speaker 2: like being just a decent human being.
- 29:27Speaker 1: What does that mean? That's something we use at MasterCard.
- 29:30Speaker 1: Decency is something we talk about a lot here. It's
- 29:33Speaker 1: about doing the right thing and you do it respectfully
- 29:36Speaker 1: when it comes to people. And so there's a decency
- 29:39Speaker 1: quotient which I think our former CEO, Ajabanga, he's the
- 29:42Speaker 1: one who initially came up with decency coach is this concept.
- 29:46Speaker 1: It's this notion that yes, we have IQs and we
- 29:49Speaker 1: have emotional awareness, but there's also this notion of having
- 29:53Speaker 1: the right moral compass, the right values, whether it's something
- 29:58Speaker 1: difficult that you're doing or e that you're doing with people,
- 30:01Speaker 1: that you're doing it in the right way, with the
- 30:03Speaker 1: right level of care and the right level of respect
- 30:06Speaker 1: for the person. And so that's the core of decency.
- 30:09Speaker 2: So as we start to wrap up here, one of
- 30:12Speaker 2: the last questions that I want to ask you is
- 30:14Speaker 2: the name of the show is called Leading by Example.
- 30:18Speaker 2: What does leading by Example mean to you?
- 30:22Speaker 1: It's a great name, by the way, I love the
- 30:23Speaker 1: name of the show, leading by Example. I think each
- 30:26Speaker 1: one of us, not just you and me, but everyone
- 30:29Speaker 1: you always want to be the best leader that you
- 30:31Speaker 1: can be. You've got to make sure that you're thinking
- 30:34Speaker 1: about that actively. You're watching yourself. You're thinking about am
- 30:38Speaker 1: I doing the right thing in the situation, being bold
- 30:41Speaker 1: about doing it, but with your eyes wide open and
- 30:43Speaker 1: with always a mirror facing you, so that you know
- 30:47Speaker 1: what kind of example you're setting as you lead. And
- 30:50Speaker 1: I think that consciousness, that awareness is important for every
- 30:53Speaker 1: single one of us. So to me, that's what it
- 30:55Speaker 1: means to lead and lead fearlessly, but always remember that
- 30:59Speaker 1: you are an examp and so keep that mirror on
- 31:01Speaker 1: yourself to make sure you do it to the right
- 31:03Speaker 1: level of humility and the right level of respect and
- 31:06Speaker 1: the right level of care.
- 31:08Speaker 2: And I think about how that really is the core
- 31:10Speaker 2: of it all, really right, and I love how that
- 31:13Speaker 2: is also a core value within the organization. Absolutely well, Rash,
- 31:17Speaker 2: thank you so much for joining us. Thank you very much, Jessica.
- 31:20Speaker 2: This has been a really interesting conversation and I love
- 31:22Speaker 2: the title of your podcast. That was such a refreshing
- 31:31Speaker 2: conversation with Fraj. I just kept thinking about how she
- 31:34Speaker 2: really embodies what it means to be a very clear leader,
- 31:38Speaker 2: not only that she had a lot of self awareness
- 31:42Speaker 2: of what matters to her and also the value she
- 31:45Speaker 2: brings to her team today. In particular, there were these
- 31:49Speaker 2: three points that stood out to me. The first one
- 31:51Speaker 2: was when she started talking about the art of the pivot,
- 31:55Speaker 2: meaning for her, she was studying to get her PhD
- 31:58Speaker 2: in physics, only to find that this wasn't actually what
- 32:02Speaker 2: she wanted to do. In her words, she says she
- 32:04Speaker 2: was learning more and more about less and less, so
- 32:08Speaker 2: she decided to pivot. And what I found particularly refreshing
- 32:11Speaker 2: about her pivots was she never approached it as I'm
- 32:16Speaker 2: doing something wrong, I can't stick to one thing, or
- 32:19Speaker 2: that there's something wrong with me. She was just being
- 32:23Speaker 2: incredibly honest with herself and recognized that what I'm currently
- 32:28Speaker 2: doing isn't really the whole of who I am. Better Yet,
- 32:33Speaker 2: in each pivot that she made, she didn't just abandon
- 32:36Speaker 2: the work and what she learned. She took the thinking
- 32:39Speaker 2: with her. For example, the scientific methods she learned in science,
- 32:43Speaker 2: like the hypothesis, the reiteration, she used that in her
- 32:47Speaker 2: next role. The second point was talking about connection. So
- 32:52Speaker 2: Raj had this ability to bring the same scientific rigor
- 32:56Speaker 2: from what she learned in physics to how she approached
- 32:58Speaker 2: problems in the corporate work place. For example, if you
- 33:02Speaker 2: right now are feeling like, gosh, there's not much progress
- 33:04Speaker 2: on a particular project your team is working on. Instead
- 33:08Speaker 2: of feeling frustrated with this lack of output, maybe treating
- 33:11Speaker 2: it with a hypothesis of hmm, maybe my team actually
- 33:15Speaker 2: needs more clarity on the goal. Let's test that out.
- 33:19Speaker 2: The point is trying something, iterating, adjusting in real time.
- 33:23Speaker 2: Some of the best leaders are not the one with
- 33:25Speaker 2: all the answers, They're the ones who ask the better questions.
- 33:29Speaker 2: And then the third point, this was when we started
- 33:32Speaker 2: talking about building trust with your team, and it was
- 33:35Speaker 2: when she said something along the lines of you win
- 33:38Speaker 2: trust in drops, but you can lose it by the buckets.
- 33:41Speaker 2: And I thought that this was such a clear way
- 33:43Speaker 2: to illustrate how trust is built. It's not about likability,
- 33:47Speaker 2: it's not about being charismatic. It's about being consistent with
- 33:51Speaker 2: what you do, what you say, and being transparent in
- 33:54Speaker 2: the process as well. So I want to thank you
- 33:59Speaker 2: so much for joining us. This was such a great conversation.
- 34:02Speaker 2: I'm so happy that you are a part of it now.
- 34:04Speaker 2: If you enjoyed this episode, or you have feedback on
- 34:07Speaker 2: what you want to hear and guess you'd like to
- 34:09Speaker 2: hear from, please rate and review leading by example, every review,
- 34:14Speaker 2: every rating really does help us reach more people and
- 34:17Speaker 2: make this show the best it can be. I'm Jessica Chen,
- 34:20Speaker 2: the author of Smart Not Loud, How to Get Noticed
- 34:23Speaker 2: at Work for All the Right Reasons, and the CEO
- 34:26Speaker 2: of Soulcast Media. A communications training company. For more information
- 34:30Speaker 2: about me and what I do, head over to Solcastmedia
- 34:33Speaker 2: dot com or add me on LinkedIn and Instagram. A
- 34:38Speaker 2: huge thank you to our production team at Ruby Studio,
- 34:40Speaker 2: especially Kelly Kyle, Matt Stillo, and Sierra Spring. We'll be
- 34:44Speaker 2: back in two weeks with another episode of Leading by Example.
- 34:48Speaker 2: I'll see you then, yeah,