This year, Mortgage Solutions has spoken to women across the financial services sector to mark International Women’s Week (3-9 March), which includes International Women’s Day (IWD) on 8 March.
The theme of this year’s campaign is Accelerate Action, meaning as well as celebrating the achievements of women and advocating for progress with issues that affect women, there is also a focus on how to speed up the rate of change and work towards a more inclusive, equal society.
Tay Joseph, head of HR at Afin Bank, has given her insight.
Who are you and where do you work?
I am Tay Joseph, head of HR at Afin Bank, responsible for shaping our people strategy as well as helping to develop and support an inclusive and high-performing workplace.
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How long have you been working in the sector?
I’ve been working in the financial services sector for over six years.
Have you always worked in financial services?
I’ve worked across a number of different industries, which has helped to shape my approach to HR and people management. I am now able to bring all that experience to my role at Afin Bank.
When did you realise financial services would be a career for you?
I’ve always been drawn to environments that challenge me and push for excellence. My first role in financial services was also with a start-up bank and I enjoyed helping to build something from the ground up.
Being part of that journey, understanding how to build a bank, appreciating the different needs of our customers and working alongside an experienced team, made me want to stay in the sector and make an impact in financial services.
Do you feel like you worked harder than your male counterparts to get where you are?
I feel there’s an unspoken need for women in business to demonstrate their competence: showing that they are prepared, more articulate and more resilient.
This means that I’ve sometimes felt the need to adjust my communication style.
In what ways do you try to support women already in the sector or those wanting to join?
I support women in the sector by advocating for their growth and general wellbeing, which is why my current role is so important, as I am responsible for shaping and implementing the policies that support those needs.
As head of HR, I ensure there are inclusive hiring practices, as well as policies that support work/life balance, which are factors that can sometimes disproportionately impact women.
Financial services has traditionally lagged behind other industries when it comes to supporting working parents. At Afin Bank, we’ve made improvements to our family-friendly policy and enhanced our maternity leave.
The theme of IWD this year is ‘Accelerate Action’, highlighting that there is still a long way to go until we reach genuine gender parity. Do you feel like the financial services sector is progressing at a satisfactory pace?
Progress is happening, but possibly not at the pace it should be. We’ve seen an increase in women in senior roles and many firms now have diversity targets and initiatives in place.
That said, there are still pay gaps and underrepresentation of women in management and in board positions.
As an industry that supports the needs of people wanting mortgages, which is a very diverse customer base, reflecting that diversity within a lender’s workforce is vital to ensure an understanding of our customers and the ability to support their needs.
It’s actually a commercial imperative, so the sector can’t afford to move at a gradual pace when it comes to equality.
What more can be done?
We should measure progress with real data, not just anecdotal evidence, to show how the sector is performing, identify the gaps and then develop initiatives to address those issues.
Firms should do more in terms of development to actively prepare women for senior roles. More broadly, we should normalise flexible working arrangements for everyone, not just women, to support every employee’s circumstances.
When it comes to gender equality, where do you think financial services has done well?
More firms are publishing gender pay gap reports, which is vital to highlight the improvements that have been made and where progress is still required.
There’s been progress in fostering inclusive workplace cultures through mentorship schemes and leadership training, which also supports development opportunities for all colleagues. It is very important to Afin Bank, and as a new bank, it is something we have embraced from day one.
I’m sure there is still work to be done. However, the conversation around gender equality is no longer a ‘nice to have’; it is now a business priority and something that will make lenders like Afin Bank better at supporting the needs of its diverse customer base.
