WITI


WITI Home
About WITI
Young Women's Center
Research & Statistics
WITI Museum
Hall Of Fame
CEO Recognition Awards
Women in Science & Tech Month
Regional Chapters
Speakers
Membership
Conferences



















WITI Wire WITI Center WITI 4Hire WITI Wealth WITI Health WITI Magazines WITI Connections


--> WITI Museum | Women in Science & Technology Month | 1999 | June 6

Barbara KosterBarbara Koster
CIO, Prudential Individual Insurance
Prudential Insurance Company of America
Nominated by: Barbara L. Halaburda

Excerpt from nomination: "Barbara Koster is a woman to be reckoned with in the field of technology. As Chief Information Officer for Prudential Individual Insurance, she wears many hats and has responsibility for a wide range of operations involving more than 2,000 associates and a $375 million annual budget.

(In 1976) she joined Chase Manhattan Bank as an accountant. It didn't take long, however, to realize her true calling and she quickly moved into a variety of technology-related posts including Vice President, Financial Systems. It was here, in 1987, that she led the charge on a groundbreaking project to develop a single accounting and financial management system for 56 countries around the world where Chase had a presence. No easy feat, considering each country had its own system already in place! This project took her on the road for three years, visiting Hong Kong, Australia, Singapore, England, Germany and dozens of other international locales along the way, working with local Chase branches to bring this dream to fruition. This milestone in Chase's history was accomplished in 1990 and a single accounting and financial management system remains in place today as a legacy to her tenacity and vision.

Barbara's energy, her vision, and her analytical ability have made her a leader in technology and she is most certainly worthy of high praise and recognition for her outstanding contributions to the financial services industry."


What was your first job and what did you learn from it?

My first job was as an accountant for Chase Manhattan Bank in New York. There, I learned the importance of financials in a business and how tracking revenue and expenses could really get to the heart of whether a business was healthy or in trouble. Interestingly enough, though, it was this job as an accountant that developed my love for technology because I saw early on how important technology was in our ability to deliver the right information in a timely way. After that, I said goodbye to accounting and hello to a variety of jobs in the technology field!

Who is your hero, mentor or person you most admire? Why?

My dad is my hero. He introduced me to technology and really nurtured my love for it. But, more importantly, he always supported me in whatever I wanted to do. He inspired me to set my sights high in life, both personally and professionally. He told me I could do anything I wanted to do and that he'd always be there for me. And he has.

What is your favorite book? The Celestine Prophecy by James Redfield because it forces true introspection about who you really are. To me, this book helps explain what motivates and drives people and then helps you "conquer yourself" by leveraging all the good things and making sure that the minor flaws don't take over. It's about finding the uniqueness that is within you and using it to your best advantage in how you live your life.

What advances in your field do you envision over the next 10 years?

E-Commerce and realizing that the internet is here and available, literally, for the whole world. The power to connect everyone in the world is astounding. I don't think we've even scratched the surface of what it can do. It will affect fundamental systems like never before‹such as education. Through computer-based learning, we'll be teaching intuitively and rote learning will be a thing of the past. Video capability will allow us to "reach out and touch" people and visually learn about other cultures in ways we can't even dream of yet.

What do you see as the single most interesting element of your work?

No question about it, the people. I get a lot of joy watching people get excited about learning, and technology has helped a lot of people in that way. In the financial services industry, some of our agents and financial planners are using laptop computers for the very first time and, initially, there's a lot of apprehension on their part. But, once they see how easy the technology is to use and the benefits they can derive from it, they adapt to it and become advocates for other users. It's a fascinating process and very rewarding for me.

What do you consider to be your greatest accomplishment?

On a personal level, it's definitely my children. I am so proud of both my girls. They are excellent students and athletes but, more significantly, they have turned into loving, caring, compassionate people. My younger daughter is a state champion in gymnastics and serves as a peer mediator for other children her age. My older daughter is a student ambassador and will travel to New Zealand and Australia this summer to teach and learn with other students her age from around the world. They are a constant source of inspiration and pride to my husband and I.

On a professional level, I would say the success of Prudential's LaunchPad program has been my greatest accomplishment.This initiative provided laptops, state-of-the-art software and a comprehensive training program to all members of Prudential's retail sales force. It gives them the tools they need to become more productive and help Prudential's customers make informed financial decisions for themselves and their families. It required incredible teamwork from both the business and information technology communities within the company and is one of the great success stories in Prudential's history. LaunchPad has been acknowledged publicly by technical and non-technical audiences alike and, for me, that's high praise. I feel privileged to have led this effort.

What was your greatest challenge and what did you learn from it?
Since I have worked in a variety of industries in my career, I would say that understanding different personality styles has been the greatest challenge. There are many ways to solve a problem, and learning that people bring different skills and expertise to arrive at the same solution is something that business leaders must understand. I have learned from everyone I have worked with and have increased my level of understanding by adapting and adjusting my own style to benefit the team effort. I continually try to learn from other styles of management‹it lets me broaden my managerial effectiveness and become a better leader.

What advice would you give to young women who want to enter your field?

Three things:
  1. Be yourself.
  2. Work hard.
  3. Contribute each and every day to the best of your ability.
When you think about it, if you do all of those things every day, everything follows from that. My favorite phrase is "Do what you love and love what you do" and I really believe in that. Our work helps us to define who we are and how we use the talents that each of us has. That advice is simple, but it works.


Copyright© 1989 - 2000 WITI
All rights reserved.