Gender balance is an important aspect of diversity and provides access to the full talent pool, says Maruska Buttigieg Gili, Chief Risk Officer at BNF Bank.
For Maruska Buttigieg Gili, Chief Risk Officer at BNF Bank, female representation in the financial services sector is growing.
“There has been significant effort and investment in attracting more women to financial services and in developing more of them into leaders. Financial services corporations are moving towards gender balance – and this requires unflinching structural solutions and more thoughtful underlying cultural change.
“I believe there are more women working in financial services, however still in relatively junior roles – there is still a substantial lack of women representation in general, especially at senior level,” she adds.
Buttigieg Gili says that women are paving new paths in various roles – including leadership and executive positions that are traditionally male-dominated.
“Improving gender parity will lead to benefits. Recent studies show how the overall number of women in top businesses are still very low. Only five per cent of CEOs of major corporations are women – but in recent years the number of C-suite positions has increased from 17 to 21 per cent."
How important is gender equality for BNF Bank?
“Gender balance is an important aspect of diversity and provides access to the full talent pool. BNF Bank is an important player in the market and we pride ourselves in ensuring that diverse perspectives are considered whenever there’s an anomaly, together with improving fairness, dignity and respect.
“At present our workforce stands at 38 per cent male and 62 per cent female representatives. In principle, we find that a healthy workplace drives productivity and sustains better decision-making, improves employee engagement and fosters creative environments.”
As Chief Risk Officer, what does Buttigieg Gili’s role bring to female representation at BNF Bank?
“I took on this role with massive responsibility as it’s a very important gesture towards women who also have family responsibility. I managed – and so everyone can. You just have to put your mind to it – you strive to achieve perfection, nurse the determination to succeed and build the confidence to put yourself forward. With time, you become knowledgeable enough to manage career progression and family responsibility. I’m aware my stance motivates other women colleagues in middle management to challenge their abilities further to reach new limits.
“Having a representation on the top table management at BNF Bank also further influences the decision-making process, leveraging the business to thrive in unprecedented ways, impacting employee wellbeing and family friendly measures, for a more balanced equality and diverse characteristics. Diversity in leadership is good for any business.”
Are there any challenges in the sector, which are predominantly experienced by female staff?
“From experience I find that as long as you’re good at your job, you’re approachable and you work well in a team, then you can work well with everyone and in any sector. In every sector there are significant challenges that you’re faced with. The regulatory field is a fast-paced environment, and you have to be on the ball all the time – this translates into long hours and little space for career breaks.”
As long as you’re good at your job, you’re approachable and you work well in a team, then you can work well with everyone and in any sector
Is the female voice being given more importance in the proverbial boardroom, when compared to a few years ago?
“Diversity on boards is critical to sustaining performance. Broadening the composition of the board increases the size of the candidate pool and helps in expanding perspectives at the top level, including gender diversity. Yet, gender parity has moved at a glacial pace and women are still underrepresented in the most important room where all the decision-making process finally happens. “In recent years, the gap between men and women has been diminishing and the female voice is being given the appropriate importance. Some of my colleagues who are appointed in such roles are very valid and experienced. I do believe they are bringing another dimension to the table, and by time we shall be seeing more benefits of such appointments.”
That said, women are still expected to juggle work and family responsibilities.
“Culture change comes with time. Women continue to bear a heavier burden when it comes to balancing work and family, despite the progress accomplished in recent decades to bring about gender equality in the workplace. The challenge of juggling careers and family life continues to be a front-burner issue. Women most often are the ones who adjust their schedules and make compromises when family needs collide with work. Family responsibility has to be an equal share with partners, together with a more understanding educational system towards working women, especially those who work long hours.
“These are issues that raise new debates on further policies upgrades at governmental and workplace stations. Women can be successful both professionally and in their respective roles as mothers and partners, when they are supported by colloquium of people to seamlessly weave work and family.”