Independent director Sophie Mosnier is specialised in corporate governance, asset management, funds and audit. Since 2014 she has been acting as independent director for the board of Luxembourg structures of pan-European leading asset managers with a wide range of investment strategies including SRI, impact investing funds, infrastructure debt & equity investments and private equity. She chairs several Luxembourg investment fund boards and audit committees.

Paperjam: What are the main challenges you’ve faced as a female independent board member? 

Sophie Mosnier: I began my role as an independent director at a time when governance was undergoing significant change, moving toward greater professionalism.

It was a particularly exciting period, as more and more organisations chose to appoint independent directors to create added value and enhance their governance.

 How do you handle resistance or scepticism directed at you?

I believe the key is to approach the situation with empathy, open communication and a focus on collaboration.

 Do you believe gender equality is improving within boards of directors?

I strongly believe that diversity on a board is a key factor--not necessarily gender parity, but diversity in a broader sense. If all board members shared the same profile, the added value would be limited, and there would be a lack of vision, strategy and effective decision-making. Today, there are many more women in these roles, which I see as a positive development, helping to feminise the profession and bring better board balance.

 What is your opinion on quotas for women on boards?

Regarding quotas, whilst the topic is important, I don’t believe they are necessary. Stakeholders have recognised that a balanced board brings greater value, and this has become a reality in itself. Therefore, I think we are achieving better representation organically.

As a female board member, do you feel a particular responsibility to advocate for gender parity and inclusion?

As a female board member, I do feel a responsibility to advocate for gender parity and inclusion, as diversity brings broader perspectives that enhance decision-making and governance. I support initiatives that promote balance, knowing it leads to better outcomes for the organisation.

In your view, how does diversity impact a board’s performance?

Diversity enhances a board’s performance by bringing a range of perspectives, which fosters better decision-making and innovation. It encourages open dialogue and ensures that different viewpoints are considered, ultimately leading to more effective governance.

 What solutions or policies could foster better gender parity?

A common practice is to set a governance expertise matrix to identify the strength of a board so as to foster better gender parity--every organisation should implement a skills matrix, including gender parity, but not only.

 What advice would you give to a woman hesitating to take this path?

To any woman who is hesitant, I would say: go for it! You will love it. The opportunities are there, and the work is truly rewarding.

 Do you have an anecdote or a defining moment in your career that illustrates the reality of being a woman in this role?

When I started, I was often the only woman in the board room, but time changed and thanks to women’s contribution with time and perseverance, my contributions were increasingly valued, highlighting the importance of diverse perspectives in decision-making.

 What advice would you give to a young woman who wants to make her mark in society? And what would you caution her against?

I would advise her to be confident in her abilities, embrace opportunities, and never be afraid to speak up and take risks. However, I would caution her against doubting her worth or letting setbacks define her, as resilience and persistence are key to overcoming challenges and making a lasting impact.