Influential Women in Captive Insurance: Barbara Aubry
Barbara Aubry, Corporate trust & escrow services director of sales, Truist Bank
Barbara Aubry was introduced to the captive insurance industry during her tenure at Bank of New York Mellon and then took what she had learned to Goldman Sachs and Wells Fargo. Upon joining Truist Bank, she was given the opportunity to build the reinsurance collateral trust team in 2017. The group has grown and continues to impress the market, with its customer-centric delivery model winning awards year after year.
How did you get started in the captive insurance industry?
The captive insurance industry found me. Throughout my career, I have had the opportunity to work for several financial institutions, including Bank of New York Mellon, Goldman Sachs, and Wells Fargo. I was introduced to the captive insurance industry early on during my tenure at Bank of New York Mellon.
I was fortunate to be given the opportunity to work with the reinsurance trust team that focused on the special needs of captives. Since then, I have continued working in the captive reinsurance industry and now serve as corporate trust & escrow services director of sales at Truist.
Who inspired you or acted as a mentor in your career?
So many individuals have inspired and mentored me throughout my career that I cannot name just one. I was lucky to have an entire village behind me as I grew in my professional career. I am fully aware that my success is due to the managers who saw potential in me, even when I did not see it in myself.
I have had mentors who were willing to take time out of their schedules to help me progress personally and professionally. I have also had the encouragement of my friends and family who inspire me daily. I am grateful to have this overflowing support; it truly has impacted my personal and professional growth.
What do you think deters people from entering the world of captives?
The insurance industry is a highly complex sector. Most of us are familiar with mainstream insurance sectors, such as auto, homeowners’, and health insurance. However, the insurance industry has a myriad of products and services rooted in risk management. The captives space is very nuanced which may limit people from entering the industry—simply because they are not aware of all of the exciting opportunities that exist.
How can mentorship and sponsorship programmes be designed to better support the career development of women?
To support the career development of women in captive insurance, we need to become better advocates for each other. We must become more purposeful in creating spaces for women to share their thoughts and concerns; simple things such as supporting a process to ensure everyone gets a voice in a meeting can make a difference.
We need to ensure that our recruitment goals align with a longer-term strategy of job attraction, retention, and promotion. We can create this through internship programmes, conferences, networking events, mentorship, and sponsorship programmes—spaces designed for women to connect and share their thoughts at the table. We all need to know that none of us is Superwoman, and it is fine to be just who you are.
In what ways can companies in the sector create a more inclusive culture that actively promotes gender diversity at all levels?
When looking at successful, high-performing teams, the common denominator they share is that they comprise diverse individuals. A team is only as good as the lived experiences of its members. To create highly functioning teams, companies must embrace the business case for gender diversity and inclusion.
By prioritising diversity, teams will have wider perspectives and experiences that can lead to unique solutions, greater creativity, increased client retention and a better bottom line. Companies need to continue to deploy leadership training programmes that help their leaders break down barriers, encourage people to meet with others with different backgrounds and reward those who lead by example. Like cooking, the more ingredients you have, the tastier the food.
“Simple things such as supporting a process to ensure everyone gets a voice in a meeting can make a difference.”
What challenges are gender-specific to women in the captives industry?
The sector has experienced many of the same gender-related challenges as other industries. Struggles to meet the demands of a career and family have continued to plague many women, so flexible work arrangements are very important to retaining talent.
What solutions would you like to see?
Since I joined this industry more than 20 years ago, it has been amazing to see the presence of women grow year over year. The industry has done a great job diversifying the ranks, but more can still be done at the leadership level. As these new groups of women continue in the captives space, I have every hope that more of them will achieve senior leadership roles. I’m confident that through training, development, and mentoring, the number of women leaders will increase.
What are your ambitions?
I pride myself on continuing to drive change in the captive insurance industry by creating opportunities for other women to move up through the ranks. I want to give back what so many have given to me: inspiration, advice, and advancement. I am looking forward to watching and cheering on the next generation of women as they become catalysts for change in this industry.
Outside my career, I would love to follow my dream of becoming a beachside book reviewer and enjoying fantastic reads in paradise.
Click here to read Captive International’s first Influential Women in Captive Insurance publication, celebrating the women transforming the captive sector through their sustained excellence and leadership.
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