Clair Mills is currently, the Chief Operating Officer for the Prudential Regulation Authority (PRA), within the Bank of England. Clair is responsible for the PRA operations, this includes the delivery of the PRA’s Operating Strategy, Budget, Internal Communications and Investment Portfolio. Other areas of responsibility include managing Data innovation, Regulatory and Business Change, Workforce planning and Diversity and Inclusion.

Clair has over 20 years’ expensive financial services experience, operating at board level and leading successful strategic and transformational change in a number of complex organisations, having started her career in the Building Society and Retail Banking sector, before moving into Operational and Technological Change Management Consultancy.

Clair joined the Financial Services Authority in 2011 to lead the Internal Twin Peaks programme to transition to the PRA and FCA regulatory model, moving across to the Bank of England with the PRA.

In her current role, as well as providing the leadership, management and vision necessary to support the business and to ensure that the proper operational controls are in place. Clair is also responsible for driving a demand-led data approach for the PRA, this includes giving keynote speeches both in the UK and internationally on topics such as Regulatory Technology (RegTech) and how regulators can take advantage of the advances in technology in the work we do. Clair is one of the few senior women in Central Banking and Regulation that work in the sphere.

Alongside this role, Clair is a trustee for two charitable organisations, the Addington Fund and the Chartered Institute of Securities and Investments, where she also sits on the Audit and Risk Committee.

Clair’s home is a working farm in rural Devon, which she shares with her husband and son. Her passion since childhood is horses, together with helping out on the farm, this provides a great way to recharge batteries and is a very different challenge.

00:16: What is your background and how did you come to work in your current role?
08:39: Would you say that your current role is more FinTech, RegTech or SupTech oriented?
11:24: Do you think diversity is a problem in the industry anecdotally?
14:37: Has the lack of diversity affected your actions?
16:37: Why is diversity important especially in managerial positions and finance and technology?
19:34: Did you notice this diversity gap in your education or in entering the workforce or was there a time where it became more apparent to you?
21:20: Are there any steps we as a generation can take to minimise the gap?
25:20: How do you see the role of women in fintech evolving over the next few years?
26:26 What steps can younger generations of women interested in STEM take to be more proactive about creating changes?
28:43: What advice would you give to young women int arrested in finance or technology?

As well as a Senior Economic Advisor and Economist at the FRB Philadelphia, Julapa Jagtiani, is also a Fellow member of the Wharton Financial Institutions Centre, and a Central Bank Research Fellow at the Bank for International Settlements (BIS). At the Federal Reserve, Julapa has conducted research and participated in several supervisory policies and implementation projects, including Basel capital requirements for banks, CCAR bank stress testing, and more recently Fintech innovations and regulatory policies. She is a member of the Fintech Subgroup of the Risk Council. Julapa has published influential research articles in top finance journals. Her recent research has focused on issues relating to Fintech innovations, the roles of alternative data and AI/ML in the new financial landscape, small business lending, and various consumer finance issues. Jagtiani has a PhD in finance and an MBA from New York University’s Stern School of Business, where she held the Rockefeller Foundation Fellowship.

00:17: What is your current role and how did you start working in it?
04:45: Would you say that your role is currently more Fintech, Suptech or Regtech oriented?
06:53: What is your background and education and how does this relate to your role and the research you’ve done?
08:51: Do you think that there’s a diversity problem in the industry anecdotal speaking?
10:30: How has the lack of diversity affected your actions subconsciously or subconsciously?
13:21: Why is diversity important, especially in the financial and technology field?
14:37: Would you say that there’s any association between women and their skillsets as it pertains to different roles?
15:47: What steps can his generation take to minimise the gap that you’ve seen?
17:47: What advice would you give to young women interested in finance and technology?