EMPOWERING CHANGE
Stacey Madge Visa Canada
AS A LEADER, THE MOST IMPORTANT JOB IS TO EMPOWER PEOPLE TO TAKE RISKS AND GIVE THEM A VOICE. THEY NEED TO FEEL COMFORTABLE RAISING ISSUES AND IDEAS. IT IS ALSO IMPORTANT TO STEP IN TO RESOLVE ISSUES THAT MAY BE STANDING IN THE WAY OF SUCCESS. THESE ARE THE THINGS THAT HELP RAISE ENGAGEMENT AND LEAD TO BETTER PERFORMANCE. — STACEY MADGE, VISA CANADA
Empowering change started early for Stacey Madge — and it began with changing herself.
The move from a challenging high school environment was the catalyst that helped Madge chart a path from unremarkable student to award-winning C-suite executive.
A new town brought a new perspective, which helped Madge pull out all the stops and double-down. Opportunities that she never imagined possible suddenly became possible. “I could apply to the hardest universities and did so; then to the hardest companies; and on to the toughest MBA classes. I always took on the toughest challenges that I didn’t know I could do. I made it through and gained the courage and confidence to take on the next big job,” she says.
Madge has spent her career in consulting, banking, and now payments as president and country manager for Visa Canada, a role she has held since 2017. She is responsible for establishing the strategic agenda and managing performance across all areas of the organization.
The past year has been pivotal for establishing the foundation for future growth at Visa Canada. Despite economic uncertainty, under Madge’s leadership new banking partnerships were established and more diversity in revenue secured to reflect the changing payments landscape.
Madge has driven innovation that has transformed the business, taking it beyond consumer credit to a full-scale payments and technology company.
The culture at Visa is a priority for Madge, and it shows. During her tenure, Visa has been recognized many times across many categories from inclusion to innovation. It has been named both a top employer and one of the best places to work. For three consecutive years the company has achieved awards for best workplaces t – Print managed by women, and as a best workplace for women, as well as two consecutive years as an inclusive workplace.
Madge’s commitment to supporting exceptional talent has helped accelerate the pace of change at Visa. “As a leader, the most important job is to empower people to take risks and give them a voice. They need to feel comfortable raising issues and ideas. It is also important to step in to help resolve issues that may be standing in the way of success. These are the things that help raise engagement and lead to better performance,” she says.
Madge recognizes the value of championing women in the workplace and spends a great deal of time guiding personal growth and career development of others. By assigning herself as a mentor, she has helped a great many women take on new challenges and rise through the organization. She also pays close attention to the dynamics in a room. “There are often situations where the group may be well-balanced in terms of gender, yet the conversation is male-dominated. That is when it is important to strategically introduce
women into the discussion, so there is a more balanced and diverse dialogue going forward. Diversity is not simply about even numbers. It is about active inclusion when conducting business.”
Visa Canada is also actively engaged in diversity and inclusion outside of the workplace. The organization has joined the Coalition of Innovation Leaders Against Racism (CILAR), which supports diverse populations through mentorship and job training, and has committed to the Government of Canada’s 50-30 challenge to increase the number of women and under-represented groups on boards and senior management.
The devastating impact of COVID-19 on small and medium businesses has seen Madge refocus the company’s efforts, and increase funding, to expand the ‘She’s Next Grant Program’ in Canada. Going forward, Visa hopes to provide additional $10,000 grants, as well as mentorship, to more women entrepreneurs to help their businesses grow.
“This is such a worthwhile program on so many dimensions. Female entrepreneurs have long had trouble getting financial support for their businesses not only in Canada but around the world, and the pandemic really exacerbated that situation. The ‘She’s Next Grant
Program’ helps. But what I love the most is that it is not simply about money and mentoring. The selection process engages Visa Canada’s team in the review of the applications. It allows our people to feel they are making a difference along with the contributions of their employer.”
It is these kinds of impactful actions that motivate Madge in her work. “Whether it is delivering new innovation, winning a big deal, getting a new client, or being recognized as a great place to work, it is about mobilizing a team to create something together. Success is not an individual achievement. There is nothing better than celebrating what we have accomplished together. It gets you revved up for the next challenge.”
For young women just embarking along their career paths, Madge says being able to take a knock and bounce back is paramount if you are to succeed. As a child, she learned about resilience from her toughas-nails mother. And while she did not fully appreciate the lesson in her formative years, it has served her well on her rise to the top.
“As your career progresses, there will be things that go wrong or that seem unfair. In those times I am reminded of a quote by Admiral William H. Mcraven: ‘If you want to change the world, you must be your very best in the darkest moment.’ ”
The hardest lesson Madge had to learn was knowing when to ask for help and give herself a break. “Knowing when good is good enough is something I wish I had learned earlier in my career. When I was working crazy hours at a consulting firm and pressing up against the partnership window, I was also pregnant with one of my three wonderful children. I really did not need to be outside raking leaves and cleaning the house at every opportunity while raising toddlers. Don’t make that same mistake,” she says.
Madge’s commitment to community is centered around her desire to make Canada a better country. She is inspiring more innovation and supporting great Canadian champions through her work. A personal passion for cancer research sees her actively participate as a board member of the Princess Margaret Hospital Foundation (PMHF), one of the top five cancer research centres in the world. She is also chair of Team Visa for the PMHF Weekend to Conquer Cancer, which is leading the pack in fundraising across Canada.
With her alma mater, Queen’s University, Madge helped create an endowment fund to support BIPOC students. As a former varsity rower, she is volunteer head of the UCC crew committee that is helping to rebuild the rowing program POSTCOVID. And, to help showcase one of the country’s iconic cultural institutions, Madge and her husband have donated generously to the Royal Ontario Museum to create the 10,000-sq.ft. Willner Madge Gallery: Dawn of Life, which explores the beginnings of life on Earth.
Her outstanding achievements have earned Stacey Madge the WXN CIBC Executive Leaders Award, which recognizes women who exemplify what it means to be a great leader while building confidence in, and championing, others.