Juliana Ávila Vélez

Juliana Ávila Vélez grew up in Colombia in the 1990s when her country was riddled with drug production and government corruption, and guerrilla groups were running rampant.

She says her day-to-day realities were “heavy.”

“At the time, my dad was the owner of a coffee farm,” says Ávila, a fintech and insurance executive who is now pursuing her MSx degree. “At our farm the only way you could tell the guerrillas from the Army was by their boots. If the boots were rubber, it was the guerrillas. If they were leather, it was the Army.”

Her father had invested everything in that farm and lost significant assets in the mayhem. Eight years later, while studying economics, “I realized that maybe if my father had diversified his investments, he might have been better off.”

She hopes to make that common-sense financial planning accessible to small business owners and people throughout Latin America.

Tell us a little about the path that led you to the GSB.

For the past 10 years, I’ve worked in Latin America, including Chile, Peru, Mexico, and Brazil. After those experiences, I kept asking myself what was next. What could I do for my region and for my people? I didn’t have the answer at that moment. I thought the MSx Program would provide the resources and the clarity I needed to decide what’s next for me.

What were the most important factors that influenced your decision to come to the GSB?

I knew that a huge part of my class here would be from different countries. My whole experience is in Latin America, so I wanted to learn more about other industries, perspectives, and cultures. The MSx Program would provide me with that opportunity. Also, the GSB is known for making you believe everything is possible. I really needed that boost of confidence to know that everything is possible for me.

You say you’re committed to empowering women. What specific things have you done during your career that helped achieve that goal?

Just being a successful young woman in the male-led financial and insurance industries empowers others to pursue what they want to do. I always see my minority status as a strength. Yes, I’m from Colombia. Yes, I’m a woman. I bring unique perspectives and leadership.

What do you hope to share with your classmates and colleagues about Colombia?

We Colombians keep silent when we meet new people because every time we say where we’re from, people think about Pablo Escobar or about guerrillas. Colombia is a great country, but we sometimes have bad marketing. We have popular Netflix series and movies that only show that part of Colombia from 30 years ago. I’m trying to change how people perceive Colombia — our landscapes and entrepreneurs. The next time someone says Colombia, I want them to think about the future – me, our coffee, or our culture.

In your most recent job at AVLA, you were the face of the company’s Insurtech platform in media and public relations. What was the most challenging part of that role?

It was my first time working in public relations, so I really wanted to succeed at sharing the value of the company and our value proposition as a new insurance technology. Every interview has a set amount of time, and you have to be really intentional with your words to keep the interviewer engaged and focused on your key messages.

You highlighted your work forging strategic partnerships. Tell us about one of those partnerships, and the results it created.

BCI Bank is committed to working with entrepreneurs in Chile and empowering small and medium enterprises. After many different conversations, we decided that if we really wanted to help entrepreneurs in Chile, we needed to have partners. The entrepreneurs not only need money, they also need mentorship, more skills, and a community. We partnered with Microsoft and Catholic University. With the team, we devised the idea of those strategic partnerships and convinced them it was to their advantage because entrepreneurs would be more successful with their help. It’s cool to see huge industries — banking, tech, education — get together to help others.

You’ve said you want your post-GSB career to be centered on leveraging innovation to drive transformative impact. Can you cite one such example that you admire, even if you weren’t involved.

David Vélez, the CEO of Nubank, is a great example. He’s a GSB alum, and I admire him. He’s proven that technology can give more people access to services and make a lasting impact. Before Nubank, you had to go to the bank to open a new account and provide paperwork. With Nubank, you can manage your money through your phone. You download the app and you can open a new bank account. In Latin America, over 40% of adults don’t have a bank account. He’s changing how people perceive the banks and how they can help those who may not be the ideal clients because they don’t have a lot of money or a stable income. But Nubank is changing their lives by giving them the opportunity to be part of the financial industry.

What three attributes do you feel are most important for a leader?

You have to be intentional about listening, not only to your boss but to your team. The other thing is a commitment to develop people. You also have to be accountable. You’re the face of your team, so you have to let them know it’s a safe space to try new things, and that you’re accountable if something goes wrong.

Have you benefited from the help of a mentor along the way?

My first boss at BCI Bank was amazing. He really believed in me and always pushed me to be better. He helped me focus my energy and grow as a professional. My most recent boss was critical, structured, and direct. I understand things best when people are direct with me. I’m more of an extrovert, and show emotions and laugh loudly. He was more stable and structured. We learned a lot from each other.

Are there any classes at the GSB that will be particularly helpful as you enter this next phase of life?

I learned a lot in the core courses, especially marketing. I enjoyed Professor Jonathan Levav’s class [Product Launch]. He has these two catchphrases about pre-launch companies or products: Is there a market? And can you make any money? That may sound obvious, but it’s surprisingly not. Every entrepreneur should consider the answers to those questions.

Photos by Elena Zhukova