AFME is proud to have signed up to the Women in Finance Charter.
The Charter aims to improve gender balance at all levels in financial services, with a particular focus on senior management.
By signing the Women in Finance Charter, AFME has pledged to:
- set a target of 30% female representation in senior management by January 2021;
- publish annual progress against this target on our website;
- have a member of our senior executive team who is responsible and accountable for gender diversity and inclusion; and
- have an intention to ensure the pay of the senior executive team is linked to delivery against these internal targets on gender diversity.
Beverley Vince, HR and Operations Director at AFME said: “We are proud to be joining many of our member firms in signing up to the Women in Finance Charter. The number of women at board and executive committee level is gradually improving in European financial services, although there is still much work to do in boosting female representation. We believe that being more representative of society brings benefits across the board, from better workplace culture through to improved financial performance.”
October 2021 Update:
When we signed up to the Charter we set ourselves a target of 30% female representation at a senior management level. As of 25th September 2021, we have 18.8% female representation in senior management, which is a decrease on the 2020 representation of 22.2%. This is principally a consequence of internal restructuring where one role has been removed from the senior management structure and where the responsibilities from two posts have been combined in one role, affecting our target negatively.
We have renewed our pledge to continue to work towards a target of 30% female representation at a senior management level by 31st January 2024. The target is based on a more long-term approach; developing diversity in the talent pipeline and promoting from within where possible and in the coming year we will be focussing our activity in the following areas:
Recruitment: We are reviewing our hiring strategy and have set out several interventions which will be applied to the recruitment process to improve the outcomes of gender diversity at all levels, including:
- We will only work with recruitment agencies who provide a gender balance shortlist of candidates, specifically in senior positions
- All roles will be advertised on the Women In Finance job board
- To help remove any blind spots during the interview process, at least one female employee will be required to sit on the interview panel of every role
- We will look to explore technology solutions that we can adopt to support gender-inclusive hiring, using the data to provide real-time feedback on how we are doing
Behaviour and Culture: We are continuing the drive to build up diversity data at AFME, in particular tracking gender, ethnicity, and disability as well as tracking internal people changes e.g. promotions, lateral moves, in addition to leaver statistics and external hires.
Conferences & Events: AFME has increased our target representation of women keynote speakers, moderators and panellists at our Events in 2022, from 20% to 30%. We are committed to creating events that promote a diversity of thought and elevate the voices and the talent that exists across the diversity of people within our industry and the Events team actively work with business leads to identify women speakers, with relevant experience, raising awareness with our sponsors.