Pennsylvania Secretary of Banking and Securities, Robin L. Wiessmann ’75, Describes Industry Trends, Cybersecurity, and Regulation

Robin L. Wiessmann has served as the Secretary of Banking and Securities for the Commonwealth of Pennsylvania since January 2015 and during her tenure has overseen a major reorganization of the agency. Secretary Wiessmann has had a long and successful career in both the private and public sectors and she discussed how these experiences have contributed to her professional development.  Each position required her to “reboot,” but also has given her the ability to learn and grow in a sector where women have been underrepresented. She discussed ways that “FinTech“—financial technology—is rapidly changing business models and creating new opportunities in the financial services sector. These changes often outpace the existing legal and regulatory framework, and Secretary Wiessmann has put into place a policy group within the agency to adapt to the changing landscape. When one student asked Secretary Wiessmann if she believes that technology will take over the jobs of wealth managers, she explained that technology is already affecting the delivery of financial services, but she believes there will always be a place for face-to-face relationships as a critical part of the industry.