2004 GREAT WOMEN OF GAMING
Proven leader
Mary Lynn Palenik
Director Of Development, Research And Analysis
PricewaterhouseCoopers LLP
Since graduating from college, Mary Lynn
Palenik has never searched for a job. Her
career moves have come from either a referral,
or someone recruiting her talent. Palenik says,
"I never had to actually apply for a job. Friends
or associates would call me regarding an available
position or I was recruited from a recommendation."
Currently, Palenik is the director of development,
research and analysis for
PricewaterhouseCoopers in Las Vegas, a specialized
position that she has held since 1997.
Palenik's life has been a cross-country journey.
Born in New York State, she was raised in
Indiana and Illinois. Following her graduation
from St. Joseph's College in Indiana, Palenik
taught in a Catholic high school for one year.
She loved teaching, but the salary was modest.
Palenik's first referral came at the end of
her first year of teaching. She says, "A family
friend suggested that I take a job as a 'runner'
for Merrill Lynch at the Chicago Board of
Options Exchange (CBOE). I would run (deliver)
trade orders from the booth to the brokers.
Despite being new to the financial district, the
job sounded simple enough."
Within three weeks, Palenik was hired to
be an options trade consultant, responsible for
reconciling day-old trades. The reconciliation
was essentially "re-trading" incomplete trades
that could not clear through the exchange's
clearing house. The position paid twice her
teaching salary, and she remained at Merrill
Lynch for three years.
During that time she met her future husband
Rick, also employed at the exchange by Merrill
Lynch. When they married one year later, an inhouse
monopoly clause forced one of them to
resign. She left, and was recruited by Bear Stearns,
where she stayed for over seven years.
Youth, a sense of adventure and a favorable climate
often motivate people to pursue changes in
their lives. Palenik says, "My family was my inspiration.
I was brought up to believe that I could do
anything that I wanted to do, and that no job was
too big or too small. That last lesson taught me
about respecting people at all levels of an organization,
not just those in the highest ranks." Palenik
says her parents emphasized the importance of a
good education and strong work ethics.
By 1991, the Paleniks decided to relocate to Las
Vegas. "It was an adventure. We had vacationed
there several times in the 1980s, and thought it
would be an interesting place to live. We bought a
new house and moved in without having jobs. The
first year, we became acclimated to desert life,
meeting new neighbors and friends. We also
joined some community groups. I cannot overemphasize
the importance of continuous networking
and being involved in select industry events and
associations," says Palenik.
The following year, Palenik enjoyed operations
experience with casino properties Excalibur and
then Harrah's, where she ran casino tournaments
for slot and table game players. She says, "It was
great experience, learning about customer preferences
and operations. During that time, I was
offered a job in financial planning. I believe that
my background in education and finance, coupled
with my recent operations experience provided me
with a strong foundation for strategic planning."
Three years later, Palenik once again took the
plunge in a new organization, joining Mandalay
Resort Group's corporate office (f/k/a Circus
Circus Enterprises) as the corporate financial analyst.
She stayed there until being recruited three
years later by Coopers & Lybrand.
Coopers & Lybrand merged with
Pricewaterhouse shortly after Palenik joined the
company. "I didn't know what to expect with the
merger, but I stayed with the firm, dug my heels
in, did the job that I was hired to do, and have
never looked back. I feel fortunate to be associated
with such a fine firm."
Palenik has been a director for the Las Vegas
practice of PricewaterhouseCoopers for the past
seven years, and is responsible for overseeing projects
involving industry research and analysis. She
provides expert testimony in gaming arbitration
and litigation settings.
Palenik still works hard, and feels fortunate to
have support from her husband Rick and young
son Ricky. "I married a man who held the same
ideals about women as my parents. He constantly
encourages me," she says.
As for being a woman in a competitive world,
Palenik thinks talent is key. "I always approached
any position the same way—an opportunity to
showcase my skills. I believe that if my qualifications
and skills are better than the competition,
then I will ultimately succeed. Surviving in a maledominated
industry takes qualifications. All
employees should possess a strong educational
foundation, seek experiences that are complementary
of their chosen profession and work hard and
smart. As my father would say, there are no problems,
just opportunities to exhibit your managerial
skills or lack thereof," says Palenik.
Being in the right place at the right time is
important only if it is recognized and used to good
advantage. Mary Lynn Palenik never passed up an
opportunity to design her own professional destiny.
She happily says, "I found my
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