Diversity at OMFIF
At the start of its ninth year of operations in January 2018, OMFIF achieved gender equality across all levels of its team of 33 staff in London and Singapore. To acknowledge this, a Gender Equality Plan was formalised to maintain balance, allow for appropriate succession planning and underpin future expansion.
In addition to striving for diversity within the company, the Gender Balance Index is published each year to highlight the importance of equal gender representation in the official institutions we work with. The research considers the seniority of women in 173 central banks, and for the first time in 2018 incorporates 70 sovereign funds and 172 public pension funds. The index builds on earlier work by OMFIF on the role of female central bank governors, which dates back to November 2013.
'Gender balance is not only about women, it is about men and women working together and having a work environment that is supportive and encouraging of each other,' says OMFIF economist, Kat Usita.
'The Gender Balance Index shows that it is possible for women to have long careers in public finance, highlighting women who have made it to the top and have been successful in this sector. The sooner that young women realise this, the sooner they will believe that they can pursue this career path,' she added.
Our policy of hiring staff from a diverse set of backgrounds and disciplines gives the company an intrinsic understanding of the many institutions and economies we work with, and leads to a more effective understanding and anticipation of the needs of our global network, embodying our core values of independence, integrity and innovation.
Among staff, 14 countries are represented incorporating fluency in 19 languages, with 50% educated to postgraduate level. Reporting on pay equality, August 2018 data indicated a mean gap as a percentage of pay of 14.53% in favour of women (0.6% in January 2018). As such, this percentage differential is within the Company’s target of a 15% variable.
Current vacancies in London and Singapore, and across different departments, can be viewed on the careers page.
HM Treasury, Women in Finance Charter
OMFIF was pleased to have become a signatory to the HM Treasury Women in Finance Charter on 16 March 2018, which commits financial service firms to four industry actions to prepare their female talent for leadership positions. To acknowledge this, a Gender Equality Plan was formalised to maintain balance, allow for appropriate succession planning and underpin future expansion.
As a small company employing 33 members of staff, it would be unrealistic to employ a strategy that maintains a permanent 50:50 gender balance. The GEP, therefore, aims to maintain current levels of gender equality allowing for a 15% variable. Our target is to have 50% women in senior management by January 2022, allowing for this variable. With the 178-strong Advisory Network, the GEP aims to triple female representation to 21% by January 2020, and 50% by 2025.
Click here to view all signatories of the Women in Finance Charter and for more information.