The Women in Finance Charter: pledging our commitment to gender equality

Women in finance charter logo

Bank of America signed the Women in Finance Charter in 2017, building on our long-standing commitment to improve gender equality within our organization and in society as a whole. We have targeted the achievement of 28% female representation in senior management roles across Europe, the Middle East and Africa (EMEA) by July 2022. We are making positive progress, however we recognize that in order to achieve our goal we must continue to focus on our efforts to increase gender diversity.

Our ongoing work to invest in women as they make meaningful contributions within our company and in the communities we serve, includes our focus on being a great place to work for our female employees, making the financial lives of our female clients better and advancing the economic empowerment of women in communities around the world.

Being a great place to work is the foundation of how we drive responsible growth. We do this by listening to our employees to ensure that our programmes and resources enhance their experience and further their careers with us. We are committed to creating an inclusive workplace for our employees around the world, creating opportunities for them to grow and develop, recognising and rewarding performance, and supporting their physical, emotional and financial wellness. Through this lens, we provide competitive compensation, benefits and resources to employees that reflect our commitment to be a great place to work. This is not only the right thing to do, it is core to achieving responsible growth in a sustainable manner.

In a year that has seen the biggest health and humanitarian crisis in our lifetime, we have taken many broad-ranging steps to address the needs of our diverse workforce. This includes providing enhanced benefits and resources to our employees – such as extensions to our childcare, healthcare and wellness programs – and furthering our engagement of diverse talent through employee network, line of business and enhanced leadership engagement.

We also published our 2020 Human Capital Management Report which provides a comprehensive view of Bank of America’s progress against key workforce metrics across gender and ethnic diversity, compensation, learning and leadership development, and clarity around initiatives supporting the needs of our global workforce.

Key EMEA focus:

Our strategy, programmes and actions are guided by our commitment to be a great place to work, contributing to the advancement of diverse talent both within our workforce and in society as a whole.

Our leadership’s commitment to diversity

Our leadership team is held accountable for driving positive progress in female representation.

  • We utilise gender dashboards that allow our leaders to track progress and continue to identify the challenges and opportunities within each line of business.
  • Data is reviewed on a regular basis with our board, our management teams and our Diversity and Inclusion councils in order to drive positive progress in female representation.

Supporting women in the community

We recognise that gender equality is an issue that reaches beyond Bank of America and the broader financial services sector. That is why we are committed to advancing and inspiring women outside our organisation.

  • We do this by connecting women to the capital, resources, networks and mentoring needed to help them achieve success.
  • We work with community partners including: Inspiring the Future, SteMettes, ForceFemmes, Code First Girls and the Cherie Blair Foundation.

Attraction, development and engagement

We have a long standing commitment to hiring diverse talent and providing careers that offer experience and developmental opportunities to all. To help drive our culture of inclusion, employees have access to a range of programmes and resources focused on building knowledge and skills within the workplace.

  • We actively attract diverse talent from schools and universities, and offer a range of specific programmes to develop our diverse talent pipeline, including our Females in Finance insight programme.
  • We deliver a far reaching range of programmes designed to advance and develop careers at all levels including our Global Women’s Executive Development Leadership Program, our annual Global Women’s conference and line of business specific development initiatives.
  • Other initiatives include tuition reimbursements, targeted career support for female employees; training to ensure managers drive an inclusive workplace; access to, and sponsorship by, senior executives; conference opportunities and programmes to increase retention, engagement and the accelerated progression of women within our workforce.

Our family friendly and wellness resources support work/life balance

We are committed to providing a wide variety of benefits and resources to meet employees’ personal and professional needs.

  • We provide coaching and transition support prior and post leave for new and expecting parents, in addition to paid family leave (maternity, paternity, adoption and shared parental leave) above statutory entitlement.
  • We offer back up family care and, wherever practicable, flexible working arrangements to help employees balance their work and personal lives.
  • Our employee networks and career development programmes empower women to do their best work, develop skills to grow into future roles and connect with teammates.

We offer personalised, one-to-one support through our Life Event Services team that provides access to resources, benefits and counselling to help navigate major life events.

Originally published on 02/22/2021