Annemarie Jung

Director External Payments EU at Amazon

Luxembourg

@josefineditti | LiinkedIn Profile

I lead the External Payment Services business for Amazon in Europe. Together with my teams across Europe, we drive product and geography expansion, marketing and sales, seller support and technical integration, account management and projects.

You studied journalism originally. What led you to a career in financial services?

At the time I had to decide on an orientation for my studies, I really had no clue what to go for. I was curious and had a keen interest for languages and literature, so journalism felt like an obvious choice, but it wasn’t until a few months into my first job that I realized my preference for hard, quantitative data. I changed to financial services early on, and it was as if somebody had switched on the lights!

You’ve had the opportunity to work in multiple roles and locations within the banking industry including a stint as the CEO of TD Direct Investing International. How different is the experience of working for a pure tech company in Amazon as compared to the financial services industry?

Speed and the decision-making processes. Amazon operates in a fast-moving industry and the pace of change is amazing. Also, the pace of decision-making needs to be in line with your ambitions, and I perceive the FinTech industry to be braver in embracing change and taking informed risk.

What lessons learned from your experience at Amazon do you believe should be adopted by those in the FI space with respect to creating a culture of innovation?

Amazon provides a huge white space for innovation, in line with our internal leadership principle of “Think Big”. Throughout the company, we are encouraged to think big, challenge the status quo, and pitch new ideas. Not all ideas will make it to the next level, but no idea is too crazy to be dismissed from the start. Some initiatives will fail, and that is ok, it is part of the process.

You come from ‘a family of scientists’ but you were never a huge fan of math. In spite of this you have an MBA and are getting a Masters in Corporate and Financial Law. How did this unfold?

That depends on whom you ask! One of my brothers is a math teacher, so he would have an opinion. I believe it was an evolution from not really being aware of my preferences and starting out in a very different direction, but having an underlying appetite for scientific and quantified assessments. That appetite just grew over time and is playing to my natural tendency.

You are literate in over 6 languages, are originally from Luxembourg, and have worked regions across the globe. How important has your diverse background been in developing your management style in a global company such as Amazon?

I come from a country where you take your passport to go out for groceries, so mastering multiple languages is a necessity really. It has become second nature to Luxembourg nationals to be fluent in many languages, and we do not consider it as an achievement as we really grow up with it. But then when you move on to start your career and actually work in a language that is not your mother tongue, it does take some time to ramp up. I have indeed evolved in many different environments, both geographically and culturally. Living through different operating models and pivoting between headquarter roles versus subsidiary roles, and managing teams across borders has given me a solid background in identifying differences in interpretation, decision processes, and how to get things done in specific environments. Amazon being a truly global company, this is a very precious skillset, and it allows me liaise between teams in different locations.

A lot has been in the press lately concerning Amazon and work / life balance. What has been your experience at Amazon concerning this topic and what is your personal approach to balancing your personal life with a successful career?

My experience at Amazon has been positive in that sense, and I cannot confirm the statements in the press. Personally, I have been very fortunate to have a husband who does not measure his worth by his job title. We agreed early on that we would both benefit from a model where he spends more time with our kids, allowing me to be more flexible. The kids have never even questioned our operating model or compared our working patterns with that of their friends; it is completely natural for them. My husband is a singer and actor and we are spending a part of our free time on artistic projects. Being able to evolve in these two very different worlds is giving me some perspective and stimulates my creativity. And he benefits from my data-driven reality checks. He is my hero!

Who(m) do you believe has had the most influence with respect to your own career?

I am a late starter. It was only about 5 years into my career that my ambition really kicked in. The pivotal moment was when I started a new job in a company, and from day one, my manager entrusted me with his most strategic and complex project. It was a gamble for him, as he did not know me at all. But this unconditional leap of faith made me feel accountable and actually able to make an impact for the first time. Obviously, I was overwhelmed in the beginning, and more than once doubted my own capabilities. But I had great support and kept trucking on. It has made all the difference.

What do you see as the 3 leading future trends for FinTech?

• CX & UX - Focusing on the customer will take center stage with more intuitive, personalized and cross-platform products and services. Quantifying the customer experience will be next.

• Payments - The trend will continue with more financial offerings and supporting products to allow ever more people to digitally pay quickly and with peace of mind.

• Marketplace Lending - Crowdfunding and peer-to-peer lending will drive this trend to provide borrowers with pre-approved loans at lower rates and micro-lenders with a new source of fixed income.