Women in Finance Charter – update on progress against British Business Bank commitments
In March 2018, the British Business Bank signed up to HM Treasury’s Women in Finance Charter, and in September 2018 made a number of commitments on which it agreed to publish a yearly update.
|Commitment in September 2018||Progress at September 2019|
|That, by 2021, 50% of our senior management – our Executive Committee – would be female (within a 10% tolerance).||When we signed up to the Charter in September 2018, 33% of our Executive Committee members were female.
In September 2019, 40% of our Executive Committee members were female. This has increased over the year as we’ve welcomed new people to the team.
|That we would appoint one member of our senior executive team to be responsible and accountable for gender, diversity and inclusion.||Because we consider this a priority for the business, we have made this the responsibility of our Chief Executive Officer, Keith Morgan.|
|That we would set internal targets for gender diversity in our senior management||Our aim is that by 2021 40% of our Senior Management Team (band 2-4) will be female. We plan to achieve this through recruitment, development and internal promotion.
We now aim to include a gender diverse shortlist and interviewer panel in all recruitment processes at Director and Managing Director level.
|That we intended to link the pay of the senior executive team to delivery against our internal targets on gender diversity.||We now have a diversity objective included in the performance appraisal process for our senior executive team.|
Although outside of its commitments under the Charter, the British Business Bank can also confirm that 27% of its Board members were female at the end of September 2019.