Home Knowledge Diversity and Inclusion in the Financial Services Sector

Diversity and Inclusion in the Financial Services Sector

On 11 February 2020, Director General of the Central Bank of Ireland (CBI) Derville Rowland addressed the European Financial Forum 30% Club, to highlight the importance the CBI attaches to diversity and inclusion, both in the CBI and in terms of regulation and supervision of financial service firms.  

Ms Rowland outlined the proven benefits of gender equality but, alluding to the 2018 government initiative “Balance for Better Business”, noted that women remain under-represented on the boards of Irish companies.  This is despite an increase in 2018 in applications to the CBI from women in senior roles for approval under the Fitness and Probity regime.  Aside from gender diversity, the CBI also want to see improvements in diversity of experience, thought and background at senior levels.  The findings of an assessment of the insurance industry in this regard are expected to be published at the end of April 2020.  

Ms Rowland’s address gives an insight into the levels of diversity within the CBI, and gives other examples of diversity in the workplace, including parental leave for fathers, work-life balance, and giving access to the labour market for those with disabilities and from socially diverse backgrounds.  

You can read Ms Rowland’s speech in full here.