Q1 2019 Diversity & Inclusion Snapshot

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Nicsa Connect Newsletter
A Message from Nicsa | Q1 2020

Jylanne Dunne, Vice President, Diversity Project North America

Jylanne Dunne

We believe that joined efforts can yield greater results. To that end, the Founding Firms of the Diversity Project North America have prepared a few ideas to help our members kick start the new decade with a fresh look at  Diversity and Inclusion  (D&I) initiatives. We launched our Simple Starts campaign at the beginning of January, sharing a fresh idea per day. In all, 25 ways to spark meaningful dialogue about the formation, improvement, and maintenance of Diversity & Inclusion practices were shared. FOLLOW #DIVERSITYSIMPLESTART ON TWITTER | DOWNLOAD REPORT


Beginning in February, we started to share D&I Leading Practices which showcases programs with senior executive participation, deep engagement, and lasting results. Our first in the series is brought to us by PGIM, and outlines how they were able to create greater connectivity with a cross-gender partnership program. The PGIM Partnership Program creates opportunities for senior leaders to share and understand different perspectives by creating cross-gender partnerships to bolster diversity and inclusion. READ CASE STUDY


SAVE THE DATE. With 2020 well under way, we are hard at work planning the inaugural Fearless Leadership Symposium, to be held in NYC on May 27-28.  This pivotal two-day event will highlight bold business practices that are changing the face of D&I initiatives in the global asset management industry and will bring together senior business executives from across the space to explore how inclusive leadership can enhance productivity, promote growth, and impact the bottom line. VIEW A SNEAK PEEK OF THE EVENT and stay tuned for more details!


WEIGH IN. The Diversity Project North America is working on a D&I member survey to measure how participants in the global asset management industry are feeling with regards to progress around D&I initiatives. Members should be on the lookout for the digital survey, which will arrive Feb 24th via email from a third party (Career Agility) and should take only 10 minutes to complete. This is a key step toward measuring progress as we move forward and we need your input.


In closing, we’d love to hear your ideas and initiatives that are sparking change on the D&I front. March 8 is International Women’s Day. What is your firm planning on doing to celebrate women in asset management? Tag @DiversityProjectNA on Twitter or Diversity Project North America on Linkedin and we will share your ideas!


Here’s a look back on the Diversity Project North America's top D&I content items for the past quarter:


Leading Practices | READ CASE STUDY

The PGIM Partnership Program: The ultimate goal of the program is to create opportunities for senior leaders to share and understand different perspectives by creating cross-gender partnerships to bolster diversity and inclusion. Find out how it works, who participates, and how progress is being tracked.



Simple Starts are intentional behavior changes aimed at producing a real, tangible impact that may lead to a more diverse, productive, and inclusive workplace. These “Simple Starts” are sourced from an in-person lightning round discussion among Diversity Project North America Founding Firms. Get all 25 ideas for 2020 here!


Eye on D&I Podcast Episode | LISTEN TO PODCAST

Chris Lahna sits down with us to discuss why collaboration is so important when tackling diversity and inclusion issues. Share the episode with a colleague!




Each month, we recognize a member firm integrating D&I initiatives into the fabric of their businesses. Our Spotlight Firms for the previous quarter are:


Northern Trust: In working toward a more diverse and inclusive asset management industry, Northern Trust facilitated The Enterprise Talent Leadership Program. This 2-year program, launched in 2012, has a goal of preparing high-performing, mid-career employees for leadership success and building a diverse pipeline of successors for key leadership positions.

The program offers the following components:

• Leadership assessment and self-awareness

• Career mapping and development planning

• Mentoring assignments

• Targeted development and leadership skill-building

• Exposure to senior leadership

The current cohort contains 76 participants with the following demographics:

• 57% Female (43/76)

• 58% People of Color (US population only) – (25/43)

• 42% International (EMEA and APAC participants) (32/76)

Demonstrating Northern Trust’s commitment to the career progression of its participants, 32% of the current cohort has taken a new or expanded role since joining the program. Additionally, alumni participants are a significant part of the senior leadership pipeline, with more than half of former participants holding key leadership roles.

“I participated in the Enterprise Talent Leadership Program back in 2013,” Northern Trust Senior Vice President Andrea Law said. “Since then, the program has provided exposure to both peers and senior leaders that I might not have otherwise had the chance to connect with. The opportunity to participate in enterprise-wide projects gave me a broader understanding of the bank’s business, and provided access to connections that are a great resource for my current role as a Client Executive as well as future jobs.”

Northern Trust is one of the founding firms of Nicsa’s Diversity Project North America. Working together with member firms of the Diversity Project provides an opportunity to share the progress of industry programs so that the industry may move toward building best practices that lead to a more inclusive industry.


CFA : “In working towards a more diverse and inclusive investment industry, CFA Institute facilitated a series of workshops across 99 prominent investment organizations representing approximately US$38 trillion in assets under management. This effort yielded the CFA Institute guide Driving Change: Diversity & Inclusion in Investment Management. Now the effort is moving towards meaningful action with the creation of the Experimental Partners program, where 42 investment companies in North America and Australia have signed on to participate. These companies will participate by implementing ideas from the CFA Institute guide and will provide feedback through the end of 2020. At this time, CFA Institute will update the original report findings, describe success stories, and outline challenges from which other investment industry firms can learn. Full press release.


Additionally, CFA Institute recently hosted a Women in Investment Management Conference: Opening Doors, which focused on pathways to achieve success—for individual careers, for investment teams, and for those in leadership positions.  The conference provided a forum for women and those from diverse backgrounds to network, exchange ideas, and develop connections. CFA Institute is now seeking to capitalize on the success of the conference and is challenging firms to choose several ideas from a set of 20, implement, and report back to create a more diverse and inclusive investment profession through its Experimental Partners Program.


CFA Institute is one of the founding firms of the Nicsa’s Diversity Project North America. Working in tandem with programs like the Diversity Project provides the opportunity to develop and share industry solutions as we move toward a meeting the needs of our clients.”


Schroders : “We consider diversity of thought and experience as being the heart of Schroders. We are committed to fostering an inclusive culture of diversity across our global workforce.


A big driver of Schroders’ D&I initiatives are our Employee Resource Groups (ERGs), which give employees a platform to celebrate diversity, influence change, and improve interactions with stakeholders. Our Gender Equality Network, for example, championed flexible working policies and created global communications to reinforce the support of these arrangements. Check out the video here.


In order to increase diversity, we must stay involved in outreach and talent development. Schroders has started a financial literacy blog, MoneyLens, which is driven by our millennial workforce to create talent development and education opportunities both internally and externally. We distribute the content across social media platforms to reach a non-industry audience to drive interest in, and understanding of, the financial industry.


Building partnership with industry groups is also extremely important. Schroders is one of the founding firms of the UK Diversity Project (CEO Peter Harrison sits on the Advisory Council). In the US, we’ve signed on as a Participating Member of Nicsa’s Diversity Project North America and participate in the CFA Experimental Partners program. These groups provide opportunities to be part of the solution as the industry moves in the direction toward meeting the needs of our clients.”




Diversity Project North America members provide valuable viewpoints on the future of D&I in the asset management industry. Here's a look at our top picks for the quarter:


Bloomberg : 2020 Gender-Equality Index

Bloomberg’s gender-reporting framework equips companies with an international standardized disclosure method to measure and report gender data across multiple dimensions. READ REPORT


audeliss: Interviewing Best Practices

This document is designed to provide guidance to the Recruiting Team and Interviewer as to how to assess talent and mitigate preference/bias in order to welcome, and ultimately hire, the broadest spectrum of candidates. READ REPORT


Deloitte :  Achieving Gender Parity in Financial Services Leadership

“The percentage of women in finance leadership roles is growing, but there's still a ways to go to reach gender parity. Amanda Pullinger, CEO of 100 Women in Finance, joins Deloitte's Stacy Sandler and Alison Rogish to discuss how the industry can improve…” LISTEN TO PODCAST

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