This week we have seen The Treasury publish its review into the representation of women in senior managerial roles in the Financial Services industry. The report’s three overarching recommendations focus on reporting publicly on internal targets; Executive accountability for improving gender balance; and linking variable remuneration with internal gender targets.
The report - 'Empowering Productivity | Harnessing the Talents of Women in Financial Services' - reflects RBS commitment to improving gender balances at all levels across the bank.
Over the last eighteen months, we have been working hard to increase the balance of women in our top 5,000 roles (now over 40 per cent) and our Executive Committee have individual targets to ensure at least 30 per cent of the roles in the bank’s top three leadership levels are filled by women by 2020. This is not an aggregate goal: each ExCo member has a target to achieve this within their own business area, ensuring we drive authentic change across our organisation. What’s more, we have confirmed our intent to have 50/50 gender balance across RBS by 2030 and given the importance of this goal, Les Matheson - RBS and NatWest CEO of Personal and Business Banking- has been personally tasked with leading this work.
To support these goals, we are doing everything we can to identify and pull through more female talent. As an example, last year we piloted a new female development approach which extends our existing networking, mentoring and sponsorship frameworks to reach even more women and introduces targeted development support for women at all career levels across the bank. As a result, we are providing development opportunities to four times as many women than ever before, demonstrating that - where we focus - we can really make a difference.
We know that being an inclusive organisation is good for our people and for our business. We won’t stop until we’ve created a bank where everyone can bring the best of themselves to work, every day.