The West Brom is a signatory to the Women in Finance Charter, an initiative led by HM Treasury to support the progression of women into senior roles within the financial services sector. The Charter reflects the government’s aspiration to see gender balance at all levels across financial services firms.
Our Executive sponsor in this area is Jonathan Westhoff, the Society's Chief Executive.
We have set ourselves two targets for female representation, to be achieved by the end of 2020:
As the end of 2020 approaches we are in a strong position, exceeding both our targets. Female representation at Board level stands at 38% and the proportion of females in senior management has increased to 34%.
We remain committed to further increasing female representation at senior levels with an ongoing focus on diverse recruitment practices and talent programmes to support development. We will also be refreshing and refining our diversity targets for the coming year.
With just over a year to go until our stated date for delivery, the West Brom continues to make strong progress in terms of broadening female representation. Our target for representation at Board level has already been exceeded and now stands at 38%.
Within our senior management population, we are well progressed in meeting our target with current representation of 29%. We are confident this can be achieved within the timeframe we have set ourselves.
A further consideration in this area is how we define a senior management role. As well as Divisional Directors and departmental heads, we are reviewing whether key decision makers in a number of wider leadership roles with managerial responsibilities should also be incorporated into our reporting metrics.
Twelve months ago, and a year after first signing up to the Charter, we had 11% female representation on our Board and 22% within our senior management population. Female representation has increased against both targets and now stands at 22% for the Board and 32% within our senior manager population.
We are pleased to be on track to meet/maintain our Charter targets by our stated deadline of the end of 2020.
In October 2016, the Society made a public commitment and became a signatory of the Women in Finance Charter. Since then we have developed and introduced our Diversity and Inclusion Strategy and are actively implementing some of our new initiatives to support achieving what we feel are attainable targets for 2020.