Women in Finance Charter
JM Finn is a signatory to the Women in Finance Charter, a government led initiative designed to encourage gender balance at all levels across financial services firms. By signing up to the Charter, firms:
- indicate their commitment to support the progression of women into senior roles;
- set targets and implement the right strategy for their organisations to achieve those targets; and
- publicly report on progress to deliver against their targets to support the transparency and accountability needed to drive change.
Our medium term, high level goal is to achieve 30% female representation within senior management by 2021, against our current level of 23%. This is a challenging but achievable goal, and progress towards and beyond it will be highly beneficial to the firm
Having signed the Women in Finance Charter in 2019 we have implemented a number of goals that put the issues right at the heart of the business.
Initiatives that were implemented during the year that we hope will help us address the imbalance in the long term, include:
- Work toward 30% representation of women in senior management by 2020 (currently 23%)
- Aim for 50/50 gender split for applicants to IM Trainee scheme
- Review and formalise our hiring policy to broaden the pool of talent available to us
- Offer coaching pre- and post-maternity leave for all employees
- Offer at least one specific leadership coaching session per year for women
- Initiate a mentoring programme
- We put in place a policy that all hiring managers receive ongoing training to help address unconscious bias and reinforce the benefits of having a diverse work force. The training was initiated in 2019 and will be refreshed on an ongoing basis.
- Coaching for pre- and post-maternity is now offered to all staff. Feedback suggests this is invaluable in helping people set and manage their own, and their colleagues, expectations.
- Our mentoring program, which was trialled in 2018 was rolled out to the whole firm in 2019. We now have a comprehensive program involving staff across the business.
- Thanks to broadening the awareness of the investment manager trainee scheme, we have reached a much wider audience and received applications from a more diverse group of applicants than ever before. As we move into the next cycle of graduate recruitment, we will be working directly with universities to further expand our reach.
- We continued our Young Women in Work program and opened it up to candidates of careers site Investment 20/20. This program is designed to help us engage with a younger audience about career choices and change the perception of the financial services industry at the grass roots level. Feedback from the attendees suggested that hosting a female only event was essential with many affirming that they would not have joined the program otherwise.
- We continue to be active in industry-wide initiatives designed to promote the success of women in the industry in the belief that these initiatives can deliver excellent role models for others. Once again we put forward several investment managers for various industry awards and were delighted that one of our investment directors was named Female Investment Manager of the Year at the annual City of London Wealth Management Awards.
- We continue our association with Tammy Beaumont as a brand ambassador for the firm. Tammy is a world cup winning England and Kent cricketer and we hope her engagement with us will encourage younger women to explore the career options available to them within the wealth management industry. With women’s cricket coming to terrestrial television in 2020 we hope that Tammy’s appeal as a role model with expand further.