Masthaven Bank has launched a digital development programme for its female leaders which aims to hone their leadership skills, develop as professionals and help them build stronger peer support communities at work.
The announcement follows research from the bank which suggests brokers feel that gender diversity - while still an issue for the financial services sector - has improved over the past five years.
The bank, which is delivering the programme in collaboration with WDI Consulting Limited, which specialises in culture change and inclusion, will see eight female members of its leadership team engage in a personalised development programme over a six-month time period.
News of the launch follows a research report from Masthaven which suggests brokers feel that gender diversity in the industry is improving. According to Masthaven Bank’s Broker Beat research survey, more than a third of brokers surveyed (37%) who said gender diversity was a problem for the industry also said it has improved over the last five years.
Tricia Halpin, chief people officer at Masthaven Bank and leading the Women in Leadership scheme said:
“We’ve worked hard to ensure all of our colleagues have equal opportunities to grow in their roles and realise their career ambitions. The Women in Leadership programme is about enhancing the skills of our female leaders and empowering them to influence change in the wider industry. However, while we have achieved a good gender balance in our leadership teams at Masthaven, we recognise that there is always room to improve and will continue our recruitment and development drive for more diverse teams across the bank.
“Brokers feel gender diversity in the industry is improving, and that is a positive sign. However, it is clear the market still faces challenges in getting more women into senior roles and attracting new talent - almost seven out of ten (69%) brokers we surveyed feel the market needs to do more to improve its image to appeal to younger people, for example. We’re working with our leaders to help inspire the industry - whether that be through speaking at events, digital networking or in conversation with brokers - to continue striving for positive change.”
Women on the development programme will take part in a series of digital workshops, one-to-one coaching sessions with WDI Consulting specialists and have access to an online networking group for women leaders.
Lynn White, founder at WDI Consulting and specialist in women’s leadership development said:
“Extensive research shows that having more diverse teams leads to more profitable, sustainable businesses where teams are encouraged to thrive.
“Our digital programme is based on our extensive research into gender balance and more than a decade’s experience of one-to-one coaching in this space. Collaborating with Masthaven on this programme for their leaders has been hugely rewarding. They are taking a pro-active approach to diversity in a sector where there is a huge opportunity to build a differentiating inclusive brand. We’re looking forward to continuing our work with the Masthaven team in their mission to lead from the front in the drive for gender diversity across the industry.”
Masthaven’s Broker Beat research also suggested that more than three quarters (77%) of intermediaries are confident about the market’s prospects for 2020, citing remortgaging, second charge finance products and later-life lending as key areas for potential growth.
Masthaven launched as a retail bank in 2016 and offers a variety of savings and specialist lending products.