Karishma Ilyas

I attribute my success to a lot of time and hard work, and a lot of late nights. Even now, after the kids, after they're going to sleep, I'm still working till like 1, 2 o'clock in the morning, because I think it's important that if someone believes in me, or I'm a part of a team, I need to hold up my end of the bargain. Even if that means not traditional hours, like your 9 to 5, and of course I'm available 9 to 5, but right now that looks a little different for me. But I make sure that my work gets done, even if that means I have to sacrifice sleep, because I'm a part of a team and I have to play my part so that it's not falling on anyone else on my team. I think that's always important. I never got comfortable, I was always looking for 'okay, what can I do next?' I just kind of believed in myself, like 'okay, I think I could do this.' I always tell even my nieces and nephews who are trying to start out after college, listen, even if it's a small part now, you could always grow, so don't think of it as a small job, because there's always room as long as you believed in yourself that you could do more.

The best career advice I received came from my mentor Denise Pelosa at Morgan Stanley. She believed in me and took me from the sales support side, telling me 'hey, I think you'd be a great compliance officer.' She mentored me on learning the regulatory background, what to look for in an audit, and even gave me life advice. She very much shaped my career and took me from the sales end and felt I would really be best in compliance, and that's what led me to regulatory compliance. I admire her so much, still to this day, for being that influential woman for me. What I learned from her is that mentorship can accelerate growth in ways that formal education alone cannot, and I remain grateful for those who invested their time and wisdom in my success.

My biggest advice to someone who is starting out is just get your foot in the door, however it may be. Obviously, I didn't major in finance, I didn't have the background, but I just kind of believed in myself, like 'okay, I think I could do this.' I started when I was 24 and moved from Jersey to Florida because I got a job at Merrill Lynch. Even if it wasn't what I wanted to do, I was a client support analyst, but I knew that if I got my foot in the door, however I did it, where I wanted to be, I could grow within the organization. And I did - I got fully licensed while I was at Merrill Lynch, then transferred over to Morgan Stanley, where I somehow stumbled upon compliance. I always tell even my nieces and nephews who are trying to start out after college, listen, even if it's a small part now, you could always grow, so don't think of it as a small job or anything like that, because there's always room as long as you believed in yourself that you could do more. Stay curious and remain adaptable, because regulations change, industries evolve, and new challenges emerge every day.

There's always so much to keep track of in terms of rules and regulations constantly changing. The regulators are constantly upping their game, constantly investing in their software and their manpower and audits and reviews, and compliance officers have to keep up with them as well. There's always so much to do, there's always regulatory changes, new things that an officer needs to keep track of. One of the biggest issues I had when I was first starting out as a compliance officer was that there's always so much to do, and there's always a backlog. This is especially challenging in a smaller organization, like a smaller RIA that has just one compliance officer that's kind of wearing all kinds of hats, including operations. That's why providing support to compliance officers so they can do their jobs better and find time to even grow the compliance program is so important.

I believe in hard work and grit, working late nights if necessary. I remember being on a team means I still have to show up fully no matter what's going on in my life, and be comfortable with working non-traditional hours while still balancing a happy home and work life. Even now, after the kids, after they're going to sleep, I'm still working till 1, 2 o'clock in the morning, because I think it's important that if someone believes in me, or I'm a part of a team, I need to hold up my end of the bargain. I need to play my part so that it's not falling on anyone else on my team. Outside of my professional life, I have always valued opportunities to explore new cultures and experiences through travel. Before becoming a parent, travel offered a meaningful way to broaden my perspective and appreciate the diversity of people and places around the world. My husband and I have pretty much been to every single continent except Australia, and we're looking forward to taking that trip once the children are older. Those experiences continue to influence how I approach both leadership and life. I also love reading, music, cooking, art, and volunteering, and I look forward to adding those back into my schedule when time permits.