Banking & Payments Federation Ireland today marked International Women’s Day at the Women in Finance Charter breakfast briefing.
Minister of State at the Department of Finance for Financial Services, Insurance and Credit Unions Dr Jennifer Carroll MacNeill, the keynote speaker at the event, has urged firms in the financial services industry to demonstrate their commitment to delivering gender balance by signing up to Ireland’s Women in Finance Charter. This is the flagship program in Ireland, led by industry with the support of Government, to increase the participation by women at all levels in financial services firms
Minister Carroll MacNeill, only the third women to hold the office of Minister of State in the Department of Finance, spoke of her determination to use her visibility in the financial services community to accelerate action in this area.
Mags Fullen, member of the Women in Finance Charter Steering Group and Head of Mortgages & Business Banking at BPFI stated:
“International Women’s Day is an important occasion to mark progress for women in finance but also an important reminder of the huge amount of work that still lies ahead; and I welcome Minister Carroll MacNeill’s commitment to the Charter and furthering women’s roles within the financial sector. While female representation in the general population of financial services firms tends to be balanced, significant differences emerge in the progression to more senior levels. For example, women continue to be underrepresented in revenue generating roles such as CEOs and head of business lines, with the most recent figures indicating that 84% of roles are held by men.”
“Developing and encouraging the talent and experience of all women in financial services is crucial. Greater gender balance results in better decision making and better outcomes for firms and society. Going forward, we need to address the obstacles that prevent more women advancing to senior leadership positions and Ireland’s Women in Finance Charter is a first step for firms who want to seriously demonstrate their commitment to achieving greater gender diversity. With 56 firms, representing over 44 thousand employees already signed up to the Charter, today we’re calling on more organisations to sign up.”
The Charter, which launched in 2022, commits organisations that sign up to improving the number of women in management and board level positions. The senior management teams of signatory firms will be accountable for progressing the yearly targets set against data which will be collected and reported on by the independent Economic and Social Research Institute (ESRI).
BPFI along with the three other trade associations (Financial Services Ireland (FSI), Irish Funds and Insurance Ireland) act as firms’ main point of contact. More details on the Charter, including contact details, can be found here.
International Women’s Day (March 8) is a global day celebrating the social, economic, cultural, and political achievements of women. The day also marks a call to action for accelerating women’s equality.