From 1990 to 1995 she studied for a Law degree at the University of Vienna, and then completed a masters' degree in International Business Law at the London School of Economics in 1996.
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Whilst still a student in Vienna, she worked for the United Nations Industrial Development Organization and the UN Commission for International Trade Law, and on completion of her studies she worked for various legal firms: first in Stuttgart with Gleiss Lutz; then back in Vienna with Wolf & Theis; and finally for the Fritz Kaiser Group in 1998–1999.
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At this stage, Kaiser was a co-owner of the Sauber Formula One team (along with founder and team principal, Peter Sauber and Red Bull owner Dietrich Mateschitz), and Kaltenborn was employed to take charge of the team's corporate and legal affairs.
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From 2001, she has been a member of its Management Board, and in early 2010, following the team's return to independent status following the withdrawal of former partner BMW, she was appointed CEO of Sauber Motorsport AG.