Rucsandra Larisa Stanciu of Ecofinance On How We Can Increase Women’s Engagement in Leadership and Management
An Interview With Vanessa Ogle
Pay attention to the small things. Little, innocent joke today, another one tomorrow can create a lot of frustration, that is why we need to start being more mindful of the small things. Even if it is not on purpose, we need to be aware of these hidden biases, recognize and address them.
Despite strides towards equality, women remain underrepresented in leadership and management roles across various sectors. In this series, we would like to discuss the barriers to female advancement in these areas and explore actionable strategies for change. We are talking with accomplished women leaders, executives, and pioneers who have navigated these challenges successfully, to hear their experiences, tactics, and advice to inspire and guide the next generation of women toward achieving their full potential in leadership and management roles. As part of this series, we had the pleasure of interviewing Rucsandra Larisa Stanciu.
Rucsandra Larisa Stanciu is the Group Chief Executive Officer of a fast-expanding European financial technology company Ecofinance that operates in multiple markets globally. It commits to providing easy access to additional funding and enables its 5 million customers to overcome their financial challenges. Before joining Ecofinance, Rucsandra acquired more than ten years of experience in top banks and financial institutions, covering multiple functions in sales, channel relationships, and operations.
Thank you so much for doing this with us! Before we dig in, our readers would like to get to know you a bit more. Can you tell us a bit about your “backstory”? What led you to this particular career path?
After high school I chose to pursue a degree in finance and banking. The program was new, in demand and since I always have liked working with numbers, I found it suitable. I started to work in a bank already during my studies and went from there. In 2017 came the opportunity to join Ecofinance, a fintech company that I am still a part of. It was a challenge not only because fintech is different than banking, but also due to the technical part that came with it. It is never boring, there is always something to learn, something to adapt to and it still challenges me.
Can you share the most interesting story that happened to you since you began your career?
I think joining Ecofinance was one. Up to that moment my career was very linear — I started in banking, in an entry position and grew from there until I became a manager. When Ecofinance came with the opportunity to join, I had a very good career, therefore taking this step out of my comfort zone was a risk, but it led me to what has been the best part of my professional development. This might be a good lesson for everyone that sometimes you need to take that leap of faith.
Can you share a pivotal moment in your career that significantly influenced your path to leadership?
I was working in a bank, leading a sales team for the lending business. I hired a new employee; gave him the first job of his life and we spent a few years together working in one team. Many years later we met, he had moved on to a different opportunity and so had I, but during our conversation he said: “Rucsandra, you were highly influential in my life. I learned a new perspective from you, and it helped spark a drive in me. If it weren’t for you, I wouldn’t be where I am right now”. That was the moment when I realized that leadership can actually change people’s lives for the better.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?
If I have to mention only one person, then it is my current boss, Dmitry Tsymber, the co-founder of Ecofinance. He has challenged me and made me challenge myself. Even though it has not always been easy, I have become a better person, I have grown professionally and as a leader. Once I gain someone’s trust, it becomes one of my top priorities to maintain it and that adds to the responsibility I am given.
Is there a particular book that made a significant impact on you? Can you share a story or explain why it resonated with you so much?
I read Atlas Shrugged by Ayn Rand more than 7 years ago and this book changed my perspective on life. Back then I had just started a high-level position in finance. One of the main characters in the book is Dagny Taggart, a businesswoman. A very powerful one — ambitious, driven, decisive. It stuck with me how she made things happen and treated problems and situations. When I finished the book, I realized that I want to become this woman. Looking back now, while I might not be there by 100%, I have made significant progress over time.
Do you have a favorite “Life Lesson Quote”? Do you have a story about how that was relevant in your life or your work?
For many years my favorite quote was “Shoot for the moon. Even if you miss, you’ll land among the stars”, because I was highly ambitious. However, now I believe there is an even more important saying to remember by Ayn Rand: “You can avoid reality, but you cannot avoid the consequences of avoiding reality”. Too many people are in this situation — they deny seeing reality, avoid dealing with problems or making decisions, because it is difficult. But with procrastination the problem only gets bigger and harder to solve. We cannot just ignore what is happening around us, as there will be consequences that will have an impact regardless.
How have you used your success to make the world a better place?
I think it goes together with what I mentioned previously regarding leadership. There were so many people I have helped develop, and I want to believe that I had a positive impact on their lives. There was a situation where a person, after we parted our professional ways, wrote to me and said that I was providential to them. Occasionally I get feedback that others have been able to learn from me, it has helped them to become better professionals, better people, and it always makes my day. Therefore, I guess that this is it — helping people to discover what they cannot see in themselves through my leadership.
Ok, thank you for that. Let’s now jump to the primary focus of our interview. According to this report, only about 31.7% of top executive positions across industries are held by women. This reflects great historical progress, but it also shows that more work still has to be done to empower women. In your opinion and experience what is currently holding back women from leadership and management?
Let’s go a few steps back and think about what was going on historically. Our emotional body was formed over hundreds and hundreds of years and generation after generation women were told that they are not smart, not capable, women had no say. At some point it all changed — women were allowed to vote, start making decisions, work. We have to start with ourselves and heal what was damaged for hundreds of years. Apart from the stereotypes that are still there, the problem is that women do not trust themselves enough to stand out, to go and try achieving those high-level positions. We are the first limitation we have.
This might be intuitive to you but I think it will be helpful to spell this out. Can you share a few reasons why more women should become leaders and managers?
In my opinion, ideally, the company should have a good balance of both types, because they are very different. While men can be very decisive and maybe less emotional, women bring passion, creativity. And what builds companies? Teams build companies. And in order to build a team you need passion and emotion. We must admit that women are better at this, because it is who we are. At the same time, I’m not supporting one or the other, both are needed to have the perfect blend.
Can you please share “5 Things We Need To Increase Women’s Engagement in Leadership and Management?”
1 . Create a safe environment for women to speak up and be comfortable to share. I believe it is important to have a space for women to express their ideas without being overlooked or criticized, especially in male dominated industries.
2 . Increase internal promotion rate. Look for talent and promote it inside the company before seeking new candidates externally. If we want to see change, we need to give a chance for women to enter the management level and reward good work.
3 . Avoid discrimination in job descriptions. I have seen various job descriptions or requirements that are not gender neutral and it can be discouraging for women. One example is using specific pronouns or focusing on certain qualities, like being competitive or assertive.
4 . Pay attention to the small things. Little, innocent joke today, another one tomorrow can create a lot of frustration, that is why we need to start being more mindful of the small things. Even if it is not on purpose, we need to be aware of these hidden biases, recognize and address them.
5 . Keep women informed. Knowledge is power and as long as women are aware of their rights, opportunities and resources, they can make informed decisions and pursue leadership positions more confidently.
In your opinion, what systemic changes are needed to facilitate more equitable access for women to leadership roles?
Companies need to switch towards growing talent from the inside. If we want to bring more women up the ladder, it will not be possible with external hiring or headhunting, because the pool for higher positions consists mostly of men. We need to give more chances for women to enter the management from inside the company or generally hire from lower level to a higher one.
What strategies have you found most effective in mentoring and supporting other women to pursue leadership positions?
When I have conversations with women from my team that I have promoted as managers, I often see self-doubt. There is a principle, if someone can do it, anyone can. It helps that I can show an example, however a lot of times women already manage so many things in their lives, but do not transpose them to the professional world. It changes their perspective when they understand that there are similar skills needed in managing a household and managing a team. Another thing I talk about is — what do you have to lose. The worst-case scenario is that you end up with the conclusion that it is not for you. But that is fine, because you can just go back to what you were, even if it means going to a different company. It usually creates comfort for women, because in reality, you are not losing anything.
How would you advise a woman leader about how to navigate the challenges of being a woman in a leadership role within a male-dominated industry?
They need to understand that, just like in every aspect of life, in management they will face all sorts of people. There will be mean people, supportive people, critical, doubting people. It is important to understand this and not fall into the trap of thinking that someone is saying negative things because you’re a woman. We should try to enter meetings, situations, conversations clear-headed, neutral, and act according to our professional principles. Even if there are only men sitting at the table, they are just your colleagues.
How do you balance the demand for authoritative leadership with the stereotypical expectations of female behavior in professional settings?
It is not necessarily about the balance, but different situations. There are moments where directiveness is required, a critical decision needs to be made. But then there are also situations, most of them are, that allow you to bring out feminine qualities — creativity, sensitivity, emotions, which allow you to invest into people and teams with passion. Women need to adapt their leadership style according to the situation.
You are a person of great influence. If you could inspire a movement that would bring the most amount of good for the greatest number of people, what would that be? You never know what your idea can trigger.
I would like for more people, especially managers and leaders, to know how to detach themselves from different situations and from their work. Our brain has limited capacity in a day and making decisions constantly can be really stressful and lead to burnout. I was dealing with sleepless nights and constant rumination myself until I learned how to deal with it. It is powerful to look at issues from the outside, remove yourself from the moment, because it helps with having clarity on what needs to be done. It is possible to work long hours and not fall into the burnout trap, if your mind is calm, you are doing what you like, and are able to detach from situations and solve problems effectively. Everyone should learn the art of detachment; it makes everything easier.
How can our readers further follow your work online?
Everyone can follow our corporate website or me personally on LinkedIn.
Thank you for these fantastic insights. We greatly appreciate the time you spent on this.
About The Interviewer: Vanessa Ogle is a mom, entrepreneur, inventor, writer, and singer/songwriter. Vanessa’s talent in building world-class leadership teams focused on diversity, a culture of service, and innovation through inclusion allowed her to be one of the most acclaimed Latina CEO’s in the last 30 years. She collaborated with the world’s leading technology and content companies such as Netflix, Amazon, HBO, and Broadcom to bring innovative solutions to travelers and hotels around the world. Vanessa is the lead inventor on 120+ U.S. Patents. Accolades include: FAST 100, Entrepreneur 360 Best Companies, Inc. 500 and then another six times on the Inc. 5000. Vanessa was personally honored with Inc. 100 Female Founder’s Award, Ernst and Young’s Entrepreneur of the Year Award, and Enterprising Women of the Year among others. Vanessa now spends her time sharing stories to inspire and give hope through articles, speaking engagements and music. In her spare time she writes and plays music in the Amazon best selling new band HigherHill, teaches surfing clinics, trains dogs, and cheers on her children.
Please connect with Vanessa here on linkedin and subscribe to her newsletter Unplugged as well as follow her on Substack, Instagram, Facebook, and X and of course on her website VanessaOgle.
Rucsandra Larisa Stanciu of Ecofinance On How We Can Increase Women’s Engagement in Leadership and… was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.