ISITC Member Spotlight – Jan E. Snitzer
How long have you been involved with ISITC and what positions have you held/do you sit on any committees?
I started coming to ISITC conferences in the year 2000. My first leadership role was as a Co-chair of the Investment Manager Forum. In 2005, I became an active participant in the newly formed Alternative Commissions Working Group. There was a lot of interest at that time in improving efficiencies for all participants conducting alternative commissions business, and we saw a surge of involvement and energy from the Broker/Dealer community. Investment Managers and Broker/Dealers worked together for two years and in 2007 we published a market practice on Communication of Alternative Commission Details.
I was elected to the Board in 2007 and became an Executive Sponsor to both the IM Forum and the Alternative Commissions Working Group. From 2009 through 2013, I served as Second Vice Chair, First Vice Chair and finally Chair 2012-13. After a two-year term as Chair, the role of Immediate Past Chair is normally another two years. Due to various circumstances, I ended up staying in the role of Immediate Past Chair, with the concomitant role of Chair of the Nominating Committee, through 2018, while simultaneously serving as Board Advisor to Erica Borghi during her time as Chair.
It has been my privilege to participate in all of these roles. As I step down from ISITC leadership after so many years, I look forward to continued participation in the Settlements Working Group and the IM and Middle Office Forums.
How did you become involved with ISITC and why did you ultimately join?
I was working at MFS Investment Management in 2000 when MFS decided it was time to implement STP. MFS hired Martin Pearce, now at SSgA, to bring his considerable knowledge and influence to lead our STP initiative. Martin had served as Chair of ISITC Europe and was a long-time ISITC ambassador. There was never any question of working for Martin without becoming involved in ISITC. I was happy to stay involved when I moved to Loomis Sayles in 2003. Participating in ISITC Working Groups and Forums has been key for me to understand and implement straight-through processing.
What’s the most impactful lesson you’ve gained from ISITC that you were able to bring back to your firm?
The most important lesson is to get involved and be an ongoing and consistent participant. The most valuable benefits are interrelated: on one hand, engaging regularly with fellow investment managers and industry counterparties provides opportunities to learn and contribute to best practices and achieve operational efficiencies for your own firm. At the same time, you develop a valuable network of contacts—and indeed good friends.
What's your favorite non-work hobby?
Since scaling back my active ISITC leadership role and stepping down as Chair from another non-profit board, I’ve been spending a lot of time studying Spanish. For the past year I’ve enjoyed weekly Skype lessons with a tutor from Spain and have found opportunities to spend time with Spanish-speakers in several aspects of my life. In June my husband and I plan to travel to Guatemala to spend two weeks in a Spanish language immersion program.
What is the last book you read?
Right now I’m reading Michelle Obama’s new book “Becoming”. Another book I read recently and thought was amazing was “A Gentleman in Moscow” by Amor Towles. I highly recommend them both.