FORTY under 40:Margaret A. O’Donnell
Margaret A. O’Donnell, Institutional investment advisor, PNC
Margaret A. O’Donnell has worked for PNC since August 2020. She started as an analyst, Private Bank, from August 2020 to February 2022, where she completed a 10-week learning programme dedicated to consumer lending, business lending and underwriting.
She was senior investment analyst, Institutional Asset Management at PNC from February 2022 to July 2022 and became institutional investment advisor at the company in July.
She was a wealth management intern at PNC from May 2019 to August 2019.
How did you become involved in captive insurance?
My first real exposure was helping support an insurance client relationship in the Cleveland market that is structured as a captive. I then joined PNC’s Insurance Solutions Group, becoming more specialised, focusing solely on captive and commercial insurance companies. However, I would be nothing without the support and guidance of my colleagues who have truly helped advance my career.
What are the biggest challenges of working in this industry, and what do you find most rewarding?
“I like to educate clients on how and why we invest portfolios the way we do.”
The biggest challenge is keeping up the various complexities of my clients. No two clients of mine are alike given their history, size, and risk lines—all of which impact how we craft their investment portfolios.
I find my work to be most rewarding when I offer perspective and insight on a captive’s investment portfolio. I like to educate clients on how and why we invest portfolios the way we do. You can see things start to “click” for clients as they start to understand and see the implementation of our process and philosophy.
Would you recommend the captive insurance industry to young people as a future career path?
Definitely. Not only does the captive insurance industry offer a meaningful career given the growth opportunities, it’s the people in the industry who make it worthwhile. Everyone is supportive, helpful, and collaborative which makes you become even more engaged and excited about your work.
What developments do you see ahead for captives?
I’ve noticed with my clients that captives are looking to expand and add more risk lines when appropriate. The hard market has clearly had an impact on companies financially, and they are looking to self-insure as a way to have better control over their risks. I don’t see this stopping any time soon.
Do you think your long-term future remains in the captives market?
I’ve always told myself that my career should be intellectually stimulating and challenging as a way to keep me engaged and offer potential for growth. Given the complex nature of captives, I certainly could see my career continuing to evolve within the sector.
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