Women in Finance Charter
PIMFA has been a proud signatory of HM Treasury’s Women in Finance Charter since November 2017.
When we signed up to the Charter we had 40% female representation. As of September 2020 we have a level of 60% female representation in senior management due to reorganisation and as such are on track to meet our Charter target by our deadline.
The CEO is responsible and accountable for diversity and inclusion in the organisation and reports progress to the PIMFA Board on a regular basis with effect from June 2018 (i.e. the start of PIMFA’s financial year).
- Aim to maintain 40% women in senior management roles by 2024
- Aim to have 30% female representation on our Board, committees, working groups and initiatives by 2024, working with our membership to identify relevant individuals. (We currently have 23% NEDs and Chair and 1 female exec board member and we have some work to do on some committees)
- Aim to have 30% female representation speaking at our conferences, depending on the subject.
- Ensure that referrals for all roles will include men and women
- Ensure the recruitment processes and messages appeal to both men and women
- Ensure that shortlists include men and women, as appropriate, for senior, middle management and junior roles
- Ensure post-covid working arrangements do not penalise women and that a flexible working and inclusive culture is maintained for all
- Maintain equal pay for similar roles
- Seek to provide public opportunities for staff to demonstrate their skills and knowledge, regardless of gender
- Act as an advocate for diversity and inclusion with our member firms
- Review these statements for currency and relevance on an annual basis and redraft if appropriate
Explaining PIMFA’s Targets
PIMFA is an Association that represents the needs of its members to Regulators, Government and key stakeholders and serves to further the interests of its member firms. It is a small organisation and its key specialisms include lobbying, policy work and representation. This is itself a specialised field, exacerbated by the fact that it is within the wealth management and financial advice sector, which is under-represented in terms of gender.
Because of the specialist fields, particularly in policy, we often get referrals for emerging posts of projects. Finally, we are a small association with a flat reporting structure.
*17% females within wealth management, 18% females within advice and intermediaries, 19% females within private banking (senior management only) November 2017.