Women in Finance Charter
Women in Finance Charter
”Achieving gender equity remains a business imperative, and critical to best serving the interests of our clients. From territory to departmental level, we are committed to embedding policies and initiatives that accelerate this agenda and help us create an inclusive, dynamic and thriving workplace for all.” Kieron Smith, Global Head of Derivatives Execution and Clearing FX Prime Brokerage and Global Head of Equities Platforms & Sponsor for Women in Finance Charter.
When BNP Paribas CIB signed the Women in Finance Charter in 2018, it led to the development of a comprehensive action plan focused on our recruitment activities, the progression of women to – and at – senior levels and organisational culture.
We remain committed to meeting our target of having women occupy 30% of our senior positions by the end of 2023, however in the current labour market there are challenges attracting and retaining senior women. We are continuing to embed our action plan at both Territory Management and at department level. Our tailored action plans are overseen by senior leaders in each business line, with a particular focus on bolstering the talent pipeline across the organisation through succession planning and senior appointments. Our data on progression on our target is shared with business leaders on a monthly basis to ensure we remain on track.
In 2022, we continued our initiatives that support our work on gender. Earlier this year, we introduced a new people review process to further support and plan for the career development of our talents. We further launched additional mandatory training for managers to ensure that they fully demonstrate and communicate our shared values, beliefs and inclusive ways of working. Additional training includes a specific programme covering Inclusive Leadership and unconscious bias. A second stage of our work on embedding positive inclusion practices and behaviours continues later this year with the launch of training on Inclusive Behaviours to all staff.
Secondly, we continued our programme focused on better understanding and evolving our organisational culture. This year this work is supported by a series of dedicated campaigns, including a specific campaign on Speak Up which includes senior management sponsorship, training and dedicated resources to support staff in raising their voice, be it with a concern or issue or general feedback which will help us as an organisation continuously develop.
In the aftermath of the pandemic, we launched a new hybrid working model, designed in consultation with staff and based on greater flexibility and agility in our working model. We recognise that our staff have different individual life expectations, personal situations and do different roles. Within our new Smart Working framework, managers play a vital role in the overall Smart Working experience of their team – including helping to mitigate anxiety caused by uncertainty, change, prevent stress, burnout and build resilience. Nearly 80% of women agree or strongly agree that their manager is doing enough to support their team’s transition to Smart Working and 81% of our total staff confirmed this year that our hybrid working model suits them.
Our development programme for mid-career women has now run successfully for four consecutive years, with the aim of helping female employees strategically manage the next steps of their careers and further strengthening our pipeline of female senior talent. We had successful outcomes from our 2021 programme and we are monitoring the outcome of the 2022 cohort. The programme is being rolled out globally in CIB Operations business.
We continue to run programmes and support aimed at supporting women at important points in their lives. Through our Menopause at Work Initiative we have made access to private medical cover easier and have set up staff support groups, a specialist Menopause support app and are training Menopause champions. This year we also launched new supportive policies on Maternity, Paternity and Shared Parental Leave and offer additional cover and leave for Fertility investigation and treatment including for female same sex couples. We continue to offer additional services as part of our benefits and wellbeing offering, including sickness leave in case of pregnancy loss, advanced cervical cancer screening through an external provider, and dedicated breast cancer pathway under our private medical scheme.
Our action plan on gender is supported by ongoing engagement and peer support through our gender parity and Parents & Carers employee networks, working closely with four other employee networks. We also implement an annual communications and events programme, including a campaign for International Women’s Day and an annual Diversity and Inclusion Week.
Last year, BNP Paribas reinforced its commitment to progress on gender equality at Group level, with the announcement of a global Group target of 40% women on the Executive Committee and in the top 100 group of senior managers by 2025.