Journeying the Volatile Nature of Finance for Social Growth and Innovation!
Choosing a career with a focus on societal impact is rooted in a sense of purpose that transcends individual aspirations. Many individuals feel a deep calling to contribute to the betterment of society, driven by a desire to make a positive difference in the lives of others. Whether it’s addressing social inequalities, advocating for environmental sustainability, or working towards improved healthcare, these individuals seek careers that align with their values and allow them to actively participate in creating positive change.
Amal Al-Hamli, a passionate individual with a keen eye for global trends, found her motivation in the versatile realm of the Financial Services sector. As the visionary CEO of the National Leasing & Financing Company, her motivation originates from the sheer global reach of the Financial Services sector, making it one of the largest and most influential industries in the world. The sector’s vibrancy, marked by constant innovation and adaptation to market dynamics, creates an environment where professionals can thrive while contributing to economic growth on a global scale. This global perspective offers a unique blend of challenges and opportunities, making it an attractive field for those who seek dynamic and transitional work environments.
In Kuwait, where she resides, the Financial Services sector plays a pivotal role in servicing the majority of the population. Its positive contribution to the country’s GDP is not only a testament to its economic significance but also highlights its role in fostering financial discipline among individuals and supporting the realization of financial ambitions for both corporate and retail sectors.
Her attraction to the Financial Services sector is further fueled by the recent evolution of FinTech and the infusion of cutting-edge technological innovation. This evolution has transformed the sector, bringing about inclusivity for traditionally underserved segments of the population. The integration of technology has resulted in increased accessibility to a diverse array of complex and customized financial products and services.
The advent of FinTech has not only streamlined traditional financial processes but has also opened doors for innovative solutions, making financial services more tailored and user-friendly. This technological revolution aligns with her belief in the power of innovation to drive positive change and inclusiveness in the financial landscape.
One of the key factors that motivates Amal to pursue a career in the Financial Services sector is the need to remain active and responsive to the ever-changing dynamics of the industry. The competitive nature of the sector demands constant adaptation and a proactive approach to stay ahead. This resonates with her aspirations for personal and professional growth, pushing her to embrace challenges and seek opportunities for learning and development.
As she embarks on her journey in this dynamic field, Amal looks forward to contributing meaningfully to the sector’s growth while navigating the exciting challenges that come with it.
Inception and Ethical Growth
The National Leasing & Financing Company, founded in 2006, has the primary goal of delivering a range of innovative and customized Islamic Sharia-compliant retail and corporate financing products. Additionally, the company offers operating lease services to an untapped market segment. The company also engages in providing real estate investment and management services, along with portfolio management services, as per the agreed mandate.
Amal highlighted the strategic structuring of products and services aimed at assisting the corporate and retail sectors in realizing their financial ambitions, scaling up business activities, generating job opportunities, and contributing positively to Kuwait’s GDP.
She further emphasized the company’s consideration of the broader impact of Environmental, Social, and Governance (ESG) factors in the business model, stating, “We are gradually incorporating ESG into our business model to fulfill our role in Corporate Social Responsibility (CSR). We actively promote ESG-compliant financing, integrating sustainability and resilience into our business model, and progressively exploring the broader implications of ESG.”
Performance-Driven Leadership Style
Amal believes in a leadership style centered around performance. With a keen focus on the broader organizational strategic objectives, she fearlessly tackles challenging and unconventional decisions. Her approach to decision-making is objective, involving detailed data analysis and consideration of multiple scenarios.
Emphasizing the importance of team input, she consistently seeks their participation, connecting data analysis with employees’ insights. Amal’s leadership style not only ensures the accomplishment of organizational objectives but also fosters team motivation, minimizes the disconnect between leadership and employees, and promotes a sense of ownership at all levels of management.
Technological Innovation for Enhanced Efficiency
Amal emphasizes the pivotal role of technology in advancing productivity and efficiency within the organization. She explains, “Identifying areas causing delays, duplications, or potential customer service impacts is our initial step. Subsequently, we meticulously develop technological solutions with predefined Key Performance Indicators (KPIs) to objectively assess and achieve the intended objectives.”
Under her leadership, the National Leasing & Financing Company has successfully overhauled its financing platform. This transformation has significantly reduced transaction turnaround time (TAT), minimized the likelihood of errors, and elevated the accuracy of regulatory reporting.
Fostering Team Dynamics and Growth
Aiming to forge a solid link between each team member’s specific responsibilities and the organization’s larger vision and strategic goals, Amal constantly stresses the significance of inspiring and encouraging her peers. According to her, this method fosters a win-win atmosphere that benefits the team as a whole as well as the company.
Additionally, she is committed to fostering open communication channels within the team, conducting regular performance evaluations, and providing constructive feedback, training, and skill development opportunities as needed. Recognizing the significance of intrinsic motivation, she emphasizes equal growth opportunities, recognition, shared responsibilities, and celebrating the accomplishments of employees.
Developing a friendly environment with mutual respect, adaptability, and sensitivity is another aspect of Amal’s leadership ethos. Through the application of these ideas, she hopes to foster a work atmosphere that fosters team spirit in addition to professional development.
Methodical Approach to Organizational Success
When examining every possible opportunity, Amal takes a methodical approach, making sure it fits the organization’s vision, strategic goals, and capacity to increase shareholder value while having a positive influence on society. Prioritizing possibilities that satisfy predetermined success criteria highlights the significance of small victories in achieving larger objectives during the selection process.
She employs a structured hierarchy of tools to convert identified opportunities into tangible successes:
- Objectively Articulate Success Criteria
- Evaluate Opportunities Against Pre-defined Criteria
- Develop Consensus and Ownership of Stakeholders
- Monitor Progress in Work
- Recognition and Incentives for Good Work
- Marketing Success Among Internal and External Stakeholders
Strategic Transformation
Amal took over as CEO of National Leasing & Financing Company in 2020, bringing with her a clear strategy for cultural and digital change and a focus on putting the needs of the business first. She has been instrumental in the company’s successful implementation of major improvements that have encouraged resilience, creativity, and competitiveness in their business approach.
The joint efforts of a dynamic and adaptable workforce have resulted in significant advancements. Their strategy now revolves around regular internal brainstorming sessions, which promote idea sharing and in-depth scenario analysis. These meetings support the creation of a roadmap, encourage decision-making ownership, and uphold a strong dedication to their overarching objectives.
Recognizing the pivotal role of frequent interactions among team members, she emphasizes the competitive advantage that their midsize structure offers. This advantage distinguishes them from smaller companies constrained by limited resources and larger enterprises burdened by bureaucratic complexities.
Approach to Company Direction
In defining the company’s future, Amal emphasizes the use of a hybrid top-down and bottom-up approach. The recording of strategy intent comes after a careful examination of the business environment, legal issues, and stakeholder expectations.
Following this, concrete goals and objectives are developed with an emphasis on measurability, taking strategic intent into account. Regular performance measurement is made possible by the implementation, which includes the creation of Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs). By carefully monitoring and swiftly resolving any deviations from the norm, this methodical approach guarantees that the company’s success is in close alignment with the overall strategic goal.
Propel Financial Success
Taking on a leadership role, Amal managed major changes to the business strategy. A strict risk rating model and improved counterparty credit analysis were two of these modifications, which directly decreased the likelihood of default. The bottom line saw a noticeable increase in net profit as provisions were reduced. The increased profitability has put the business in a stronger position to give shareholders more dividends.
A smart reorganization of the leasing business also resulted in significant savings on car maintenance costs, which raised the profit margin.
Industry Trends and Innovations
To keep up with the most recent advancements in the field, Amal demonstrates her reliance on a variety of networking and information outlets. Based mostly on industry data reports from organizations like the Central Bank of Kuwait (CBK) and other government agencies, these insights are essential for formulating plans and, if needed, reorienting objectives.
Her passion extends to various topics, including FinTech, technological disruptions in the financial sector, and emerging trends like Buy-Now-Pay-Later (BNPL). Amal actively leverages research papers and reports from reputable consulting firms such as McKinsey, BCG, BAIN, and Big4. Recognizing the instrumental role of these documents, she utilizes them to gain a deeper understanding of industry trends, reshape strategies, and achieve compelling success.
Methodology for Organizational Improvement
In the pursuit of continuous improvement, Amal leads an internal management committee dedicated to analyzing potential enhancements and their impact on the organization’s strategic objectives. The systematic approach to capitalizing on process improvement opportunities involves a structured hierarchy of actions, outlined as follows:
- Defined Objectives and Goals: Amal emphasizes the importance of setting clear objectives for improvement initiatives and carefully assessing their impact on the organization’s overall strategy and goals.
- Mapping Current Processes: The committee meticulously documents existing processes, aiming to identify inefficiencies, bottlenecks, and areas for improvement through comprehensive mapping.
- Developing Key Performance Indicators (KPIs): To measure the success of improvements, she advocates for the establishment of key performance indicators (KPIs) and relevant metrics.
- Designing Improvement and Technology Adoption: Recognizing the potential benefits, Amal encourages the strategic adoption of technology and automation where applicable to enhance processes.
- Monitoring Progress: The ongoing commitment includes monitoring progress closely and making necessary adjustments as early as possible to ensure the effectiveness of implemented improvements.
Striking the Balance
In deciding on National Leasing’s strategic path, Amal shows how important it is to consider both short- and long-term goals. Her main objective is to achieve long-term objectives that promote continuity and ongoing progress while carefully balancing short-term gains.
She prioritizes goals with a deep knowledge of the changing company landscape, allocating resources wisely to fulfill the demands of both immediate revenue generation and long-term viability. Regular assessments of corporate performance against these twin aims allow for strategic realignment and modifications.
Highlighting the synergy between short-term and long-term objectives, Amal emphasizes their complementary nature. She views them not as mutually exclusive pursuits but as integral components that work in tandem, forming a bridge toward the realization of National Leasing’s strategic aspirations.
