The BBA’s Women in Finance Charter Commitment

The BBA is a signatory to the HM Treasury Women in Finance Charter

The BBA is a signatory to the HM Treasury Women in Finance Charter. We represent 200 banks from 50 countries with operations in 180 jurisdictions. While not a major employer – our employees number 70-75 at any given time – we see our signing of the Charter as emblematic of the support within the banking industry for the objectives of the Charter concerning the advancement of women in senior management positions and, more generally, policies intended to deliver more equal, inclusive and diverse workplaces. Many of these were profiled in a BBA report referred to by Mark Carney in his opening remarks at the launch event of the preceding report ‘Empowering productivity: harnessing the talents of women in financial services’.

In signing up to the Charter, the BBA has pledged to promote gender diversity by:

  • setting internal targets for gender diversity in our senior management
  • publishing progress annually against these targets in reports on our website
  • having an intention to ensure the pay of the senior executive team is linked to delivery against these internal targets on gender diversity
  • having one member of our senior executive team who is responsible and accountable for gender diversity and inclusion


Diversity and Inclusion at the BBA

The BBA has a pre-existing Valuing Diversity policy and since signing up to the Charter has reviewed related policies on flexible working, recruitment, promotion and retention given the contribution that these can make to gender diversity being achieved at a senior level and more generally across the association.

Aspirational targets

The BBA’s commitment to the Women in Finance Charter was agreed by a resolution of the BBA Board made on 22 April. As widely publicised, however, the BBA is part of a consolidation of financial services trade associations also including Payments UK, the Council of Mortgage Lenders (CML), the UK Cards Association and the Asset Based Finance Association. It will be for the Board of the new organisation to determine policy going forward.

For Charter purposes the BBA defines senior management as membership of its Executive Committee. Female representation within this management body currently stands at 27%. While it will be for the new trade association to determine its policies going forward, the BBA intends to recommend that the new body adopts the Charter, sets ambitious targets for the gender diversity of its senior management, and adopts 30% as an opening minimum floor for female representation within its senior management team.

Internal targets and activity

We view our HR policies as being key to achieving gender diversity within our senior management. Review over the course of the past 12 months has resulted in:

  • Enhanced maternity/paternity pay in January 2016
  • Removal of working from home restrictions
  • Updated Diversity Strategy document
  • Structured process of engagement with maternity leavers/returners
  • Updating of management charter
  • Engagement of ‘female friendly’ head-hunters on specific, senior roles

 

We further plan:

  • Monitoring of shortlists and selected candidates to ensure female representation
  • Appropriately wide advertising, including use of gender/ethnic minority focused job boards as appropriate
  • Training for recruiting managers, with unconscious bias proposed for early 2017
  • Advertisements stating that ‘we encourage applications from ethnic minorities and returners to work’
  • A gender pay gap review and action plan to be undertaken

 

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