Women in Finance Charter - Aldermore Bank

HM Treasury’s Women in Finance Charter is a commitment to improve gender balance across the financial services sector, at every level.

The Charter commits firms to supporting the progression of women into senior roles in the financial services sector. It requires firms to publicly report on progress against targets to support this progression.

By signing up, organisations pledge to promote gender diversity by:

Having one member of our senior executive team who is responsible and accountable for gender diversity and inclusion;
Setting internal targets for gender diversity in senior management;
Publishing progress annually against these targets in reports on our website;
Having an intention to ensure the pay of the senior executive team is linked to delivery against these internal targets on gender diversity.

Our Vision and Commitment

The Women in Finance Charter is focused on gender diversity, but our ambitions are much bigger.

Many of the Charter’s recommendations are about fairness, equality and inclusion for everyone.

With that in mind, we aim to develop the actions and initiatives that improve diversity but which also create a truly inclusive workplace community, where opportunities for development and progression are accessible to all and respect is embedded in all our interactions.

What we’re doing

The spirit of the Charter reflects the way we operate and delivers on our internal promises to ‘always do the right things’ and ‘value our differences’. It is these that underline our commitments. We made significant progress early by achieving the WIF Charter target in 2018 although we haven’t been able to sustain that progress this year.

Aldermore though is determined to continue to build an environment where everyone’s views can be heard, and contributions are valued and seen. We’re seeing the progression of talented women across the business through the organisation and will now be supporting the Charter across the Aldermore Group including MotoNovo Finance (MNF).

We’ve changed the way we operate around diversity and inclusion, by setting up an umbrella agenda supported by senior leaders across our four core areas of focus. These are:

Inspiring future female leaders
Mental health
BAME colleague network
LGBTQ+ and Allies

We’re fully committed to making a difference, to building a culture that makes Aldermore an even better place to work and where colleagues are backed to bring their best.

December 2020 Update

Aldermore gives significant importance to diversity and inclusion and we are again sharing the progress we’ve made against our HM Treasury Women in Finance Charter targets. We know, first hand, greater diversity contributes to a positive culture and the benefits can be seen every day in how we interact with each other, as well as how we engage customers. That’s why we work extremely hard to ensure success in delivering, not just the Charter’s targets, but also the spirit of it.

As in previous years, our annual Women in Finance report also includes our progress on gender pay, ahead of the April 2021 deadline, as part of our honest approach to create an inclusive and supportive culture throughout Aldermore. To view this, you can download the report here

What we still have to do

Aldermore has consistently invested in creating a culture that recognises talent, rewards performance and is attractive to new hires as an employer of choice. Signing up to the Women in Finance Charter is a natural next step for a company that is always evolving.

Our investment in the Charter will continue and strengthen to ensure it is embedded into our culture for the benefit of everyone. That’s why we’re preparing to set milestones that take us beyond the initial 30%, and commit us to actions that will take us to 50% representation within 5 years.

Governance

We’ve made Diversity & Inclusion a standing agenda item at our Executive Committees to ensure it is given the focus and attention it needs from the very top of our organisation. Led by our Group Chief Financial Officer Claire Cordell, we’ve launched an Inspiring future female Leaders programme that is focused on identifying and nurturing female talent and removing the barriers that may prevent them from developing and taking on more senior roles.

We’ve set clear key performance indicators that are regularly reviewed and discussed. Our current KPIs also include a path to achieve parity in gender pay.

Target: 50% of senior managers will be women by 2025.