Carmen Heredia-Lopez, executive director, investments, Blue Cross Blue Shield Association

Carmen Heredia-Lopez, executive director, investments, at Blue Cross Blue Shield Association in Chicago, attributes her success to several factors, including being given the opportunity to pursue her goals as well as gaining the support of managers to take on new projects and try new methods to advance her companies' overall missions.

After graduating from Georgetown University, while working for First Chicago Bank, she met Margarita Perez, the founder of Fortaleza Asset Management, who recognized her passion for the asset management industry and her eagerness to learn and work hard.

"She offered me a job at Fortaleza, which opened me up to the world of institutional investing and asset management and I was ready to jump in," Ms. Heredia-Lopez said in an email. "I learned so much during my time at Fortaleza and since then I have been hooked."

Now as a manager herself, Ms. Heredia-Lopez, who oversees about $15 billion in assets, said she does her best to "provide access to growth opportunities to my entire team and that is especially true when it comes to the women on my team."

Women, especially women of color, she noted, are often hard on themselves or question themselves due to a variety of different factors, so it is important to encourage them to speak up, advocate for them and believe in their potential.

Mentorship and sponsorship also played a key role in her professional development. Aside from Ms. Perez, she also met Thomas Melendez, who was on the board of trustees of the Robert Toigo Foundation, which seeks to increase diversity in finance.

"Toigo has been my extended family ever since," she said. "Over the years, Toigo has provided me with financial assistance and the opportunity to pursue my MBA at the University of Chicago and gain access to mentors, executive coaching and a close-knit community of like-minded individuals working in financial services."