Five Questions With: Lynnette Purda, Interim Dean, Professor & RBC Fellow of Finance, Smith School of Business at Queen’s University

Lynnette Purda has dedicated her career to the convergence of research, teaching, and leadership. She applies academic exactitude and practical wisdom to her approach to business education.

Appointed Interim Dean of Smith School of Business at Queen’s University in January 2025, Lynnette is also Professor and RBC Fellow of Finance, with a research portfolio spanning corporate finance, governance, and fraud. Her work has appeared in top journals across accounting, finance, international business, and law, and has been presented to policymakers and practitioners, including the Bank of Canada and FP Canada.

Beyond research, Lynnette has been recognized as an exceptional teacher and mentor, known for her clarity in the classroom and her ability to empower students to see themselves as future leaders. Whether in her role as educator, researcher, or now as Dean, she is committed to preparing students with the tools and mindset to navigate a rapidly changing world—while modelling ethical leadership and governance at the highest level.

In this interview, Lynnette reflects on the evolving role of business schools, the importance of mentorship and sponsorship, and the lessons corporate fraud can teach us about leadership and accountability.

Academic leadership is often expected to balance tradition with transformation. How do you navigate that tension when adapting to meet the changing landscape in business and society? 

More and more, I’ve found myself using the phrase: “Train for the tools of today and with a mindset for tomorrow.” The past five years have witnessed tremendous innovation, and it is challenging to predict what the future will bring. We must acknowledge that the specific tools, methods, or techniques we teach our students may become irrelevant in the not-too-distant future. As a result, we need to strike a balance between being competent with today’s tools and having the aptitude to adapt and learn the tools of the future. This requires a focus on critical thinking and the ability to assess tools as they evolve, all while having strong communication skills to convey these assessments. This means we need to think not just of teaching “things” but of instilling attributes that will empower our students to embrace a growth mindset and continuously learn and adapt.

What can business schools do differently to help more women transition from the classroom into leadership roles? 

Today’s students, men and women, need exposure to the full spectrum of possible career options. While we continue to place new graduates in conventional industries such as banking and consulting, some women don’t necessarily see themselves in these roles. As a finance professor, for example, I frequently have young women speak to me about their love of the subject, but they often express trepidation about entering a career in investment banking. While it is clear that we need to make all industries welcoming environments and places where all individuals can see themselves belonging, we also need to ensure that our students are aware of the wide range of options within any of our disciplines. As entry-level jobs change with innovations in technology and AI, we need to better inform our students of the vast array of options available. We see more students interested in working for small firms, start-ups, or launching their own ventures. Empowering women to envision themselves in leadership roles across a broader spectrum of industries and careers is a crucial step.

You’ve been recognized for a number of teaching awards. What does teaching excellence mean to you? 

In my mind, teaching excellence is characterized by a commitment to clarity and a genuine appreciation for diverse learning styles. Reducing ambiguity by clarifying learning expectations, goals, assessment methods, and course interactions at the outset can be a powerful way to alleviate student anxiety, allowing them to focus on learning. It also helps students see a broader picture of how a particular course fits into a program of learning that supports their development and career goals. Finding alternate ways of explaining concepts and material that appeal to learners with different strengths is also a necessity. By demonstrating different learning strategies to students, they will have a variety of tools to leverage when they encounter a new challenge in the future. My goal is to ensure that I teach not just concepts for a class, but also tools for lifelong learning. 

You’ve also received recognition for your mentorship. We know that mentorship and sponsorship are both critical, but not interchangeable. How do you differentiate between the two in your own leadership practice? 

This question resonates deeply, as it is highly relevant to my current career stage. For years, I have felt I have been able to be a solid mentor to students, but it is only recently that I have been able to be a more active sponsor. In my role as Dean, I have the opportunity to be more externally focused. That means I am fortunate to meet a wide variety of individuals in academia, government, and industry. I’m better able to be an effective sponsor and provide critical connections that enable students and staff at Smith to elevate their positions and contribute to something new. In my mind, mentorship guides “how” to navigate possible scenarios or situations, while sponsorship helps bring these scenarios to life.

Your academic work has explored corporate fraud and governance failures. What patterns have you noticed across organizations? And where do you believe boards and executives often fall short? 

A pattern I’ve noticed is how easily organizations allow for escalation. Something will occur that skirts the rules or feels slightly “off” but is not a blatant violation of procedure. If the overarching goal is achieved, the action is overlooked; it’s considered a one-off deviation. As a result, unfortunately, the next time a violation occurs, it tends to be more severe. This process continues in such small incremental steps that eventually the actions occurring become blatant violations, and one wonders how the organization could have reached that point. The warning message for boards and executives is that things rarely go from complete compliance to massive violations of policies or laws – it starts with tiny incremental steps that accumulate. Problems arise when we avoid addressing the small initial steps and allow them to escalate.

How do you apply the principles of strong governance in your role as Dean? 

Much like a corporation, the heavy lifting of decision-making, monitoring, and analysis often occurs at the committee level. Setting up strong committees with diverse perspectives enables this work to be conducted rigorously. It’s important that our committee chairs understand the key strategic initiatives of the school, our values, and the constraints that we face. I’m also a firm believer in “tone at the top”. A culture of ethical governance, transparency, and integrity can only be established when senior leaders intentionally build a track record that demonstrates these behaviours. As universities face change and financial constraints, I often ask myself if my decisions would hold up against a single question: Is this in the best interest of the school?

*Our “Five Questions With” series occasionally stretches to six when the discussion calls for it. This is one of those times.