Champions of Diversity – Alex Brgudac, Nodifi

No one understands both the opportunity and risk that comes with market disruption better than Nodifi Chief Revenue Officer Alex Brgudac who has long advocated for greater gender diversity in the mortgage and finance industry.

As one of the pioneers of the fintech industry, he operates with the view that ongoing change is inevitable and that brokers must continue to challenge the way they operate in order to continue to stay relevant with the broad and very diverse customer base they serve.

In that regard, advocating for greater gender diversity in the mortgage and finance industry has never just been about the right thing to do for Alex, himself a father of three daughters, rather he sees it as imperative to ensuring the ongoing success and sustainability of broking.

“Change is inevitable, and the speed of change is increasing at a phenomenal rate,” Alex said.

“It really wasn’t that long ago that Brokers were the disruptor to the financial services industry and the talk of the town. The challenge is that over time we start to accept the status quo and that’s where the danger presents itself.

“It’s important that brokers continue to challenge the way we do business in our industry in order to remain relevant and remove the threat of a disruptor coming in and taking away market share.”

Alex adds that diversity is not just about the number of male and female brokers in the industry, it’s also about religion, culture, demographics, geographics and a general world view.

“Diversity of thought will ensure we challenge the way we think and conduct business which should always be a priority for any industry including brokers,” he said.

In his current role with Nodifi, he is also pursuing a diversification agenda, one that he hopes will deliver a business model and solutions where brokers can seamlessly offer multi-channel, multi-product, and multi-service solutions. Nodifi’s recent merger with Loan Market, is an example of being able to deliver that seamless experience for brokers, one that will set new benchmarks for the industry and continue to cement brokers as the most trusted channel for consumers.

But new opportunities for the industry don’t come from the same kind of thinking, which is why Alex has always surrounded himself with people who have a different way of thinking.

“Diversity of thought is a powerful tool especially in business where it can reap significant rewards including both cultural as well as commercial,” he said.

Alex says diversity has always been important for him not just in a business context but also as a father of four children.

“I feel now more than ever that it’s my responsibility to act. I want all of my children to have confidence in knowing that no matter what they choose to do in life, gender won’t be a barrier to entry or success,” he said.

Alex was the first male and an inaugural member of the MFAA’s Community Panel, a panel of brokers and industry professionals which advises the approach and overall direction of the Opportunities for Women Research Initiative which is addressing the under representation of female brokers in the industry.Now in its fifth year, the initiative has highlighted the key barriers women face in the industry, helped shift male perceptions about the overall inclusiveness of the industry and launched several initiatives aimed at increasing the retention of female brokers.

As the former head of partnerships at SME lender Prospa and a former consultant to the mortgage and finance industry, Alex has been in the industry for over 20 years and says there has definitely been a shift in both the greater focus on events and forums specifically supporting women but also the role that men in the industry are seen to play in finding solutions to female representation challenges.

“Over the past few years, I have personally observed a change in women embracing men like me as part of the solution – not just the problem,” he said.

And although that has been a positive shift, he says the continuing fall in female representation (currently sitting at 25.6% of all brokers) is a timely reminder that although there has been progress, there is still significant work to be done.

As one of only two men on the MFAA Community panel, he is calling for more men to get more actively involved in finding solutions and is encouraging more male brokers and professionals to join him on the MFAA Community panel.

“I’d like to encourage more men to participate in the MFAA OFW Program,” he said.

“It really is easy to criticise or judge from a distance, but what would you do differently? We would encourage you to join us – we would love to hear from people with different ideas, backgrounds, and experiences.”

Alex adds that it’s particularly important for leaders in the mortgage and finance industry to be active role models for diversity particularly as we continue to emerge from the impacts of the global pandemic.

“It’s important that we are not tempted to resort back to the way things used to be – through crisis comes opportunity,” he said.

Alex knows that change takes time and his broader approach in business is to play the long game. So, when it comes to being successful in business, his advice is to work hard, be authentic, be consistent, keep it simple and have fun.

“There have been so many times where I’ve suffered imposter-syndrome because my celebrated results are actually attributed to just doing the basics really well,” he concluded.

Champions of Diversity is brought to you by Teachers Mutual Bank Ltd.