Diversity and Inclusion in Financial Services

Outline & Objectives

Through the Discussion Paper DP 21/2: Diversity and inclusion in the financial sector – working together to drive change, the regulators (FCA, PRA and the Bank of England) are seeking to explore with financial firms and other stakeholders how to accelerate the pace of meaningful change on diversity and inclusion across the sector.  Diversity and inclusion is critical to making progress on culture and governance, particularly for boards and senior management. Research shows the positive benefits between diversity and inclusion and positive outcomes in risk management, good conduct, healthy working cultures, and innovation. 

Diversity and inclusion is now becoming a core regulatory theme, which brings into sharper focus the culture and people practices in firms across the sector.  In consequence the Human Resources function is becoming ever more central to securing healthy cultures and good governance.

This focused session has been designed to help HR professionals get to grips with the issues raised in DP 21/2 and consider how tyou and your organisation can best respond.The event will provide an analysis of the regulators’ challenges and an opportunity to clarify thinking and benchmark approaches. This session is equally appropriate for solo and dual-regulated firms.

Topics to be covered will include but are not limited to:

• Definitions of “diversity” and “inclusion”
• Scope and proportionality according to firm type and size
• Leadership and culture
• Representative boards (and succession planning)
• Individual accountability and links with the SMCR
• Remuneration
• Firms’ diversity and inclusion policies
• Diverse representation and talent development
• Measuring progress and setting targets
• Training
• Public disclosure
• Diversity and inclusion audits
• Threshold conditions, SMF approval and fitness and propriety