The Financial Services Compensation Scheme (FSCS) has signed up to the Women in Finance Charter - the Treasury initiative designed to improve equality within the financial sector.
The lifeboat fund has signed the charter, which launched in 2016, because it believed gender diversity was crucial to the success of its business. FSCS chief financial officer Kathryn Sherratt is responsible for gender diversity within the organisation.
By signing the charter the FSCS has agreed to: ensure it has a 50/50 gender split in shortlisted candidates for all role, increase female representation in its IT and Data teams to 20% by 2022, and increase the proportion of women in management to 50% by the same year.
The compensation scheme said it recognised that only through the collective accountability and collaboration of colleagues, teams and partners would it be able to achieve its performance targets. This included targets for diversity and inclusion and gender representation.
FSCS chief people officer David Blackburn said: "In 2017, FSCS formed a 'Women @ FSCS' network to highlight our commitment and work on gender disparity in the workplace and in the financial sector in particular.
"As part of this work and with the help of the network, it was agreed that now was the time to set out our commitment publicly as a signatory earlier this year."
As of July there were 273 firms across financial services that had signed the charter, according to the government website.
Earlier this year Treasury Committee chair Nicky Morgan wrote to 33 firms asking why they had not yet signed the charter.
The Personal Investment Management & Financial Advice Association and Sesame Bankhall Group are among those to have signed up to the initiative.
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