Now you could be an award winner for your efforts…
Long regarded as a male-dominated profession lacking in diversity, the mortgage industry is increasingly viewed as a welcoming and accepting environment in which to work, promoting greater opportunities for equality - whatever background you come from.
The progress it’s making is thanks to a number of diversity, equity and inclusion (DE&I) initiatives – whether they are through companies’ own in-house commitments, or industry-wide calls to action by organisations such as the Intermediary Mortgage Lenders Association (IMLA) and Association of Mortgage Intermediaries (AMI).
While progress is certainly being made, there’s always more that can be done. IMLA’s executive Kate Davies (pictured left) previously called on the mortgage sector to actively address reported incidents of bullying and sexual harassment. Addressing the Mortgage Business Expo in 2023, she referenced a report from AMI that found that while there was some progress on gender balance, 43% of respondents said the industry did not attract a workforce that was representative of the whole community.
Women and people from minority groups voiced concerns about career progression – with between 15 and 20% saying they had been passed over for promotion and been made to work on tasks below their skills or pay grades. Eight per cent (8%) had experienced sexual harassment, inappropriate behaviour, bullying, physical harassment or violence, which was witnessed by many more, Davies said.
Read more: Nominations open for The Mortgage Introducer Awards
How much interest is there in diversity, equity & inclusion?
Barclays’ mortgage intermediary market development director, Sidney Wager (pictured centre), is a high profile thought leader on DE&I and recently told Mortgage Introducer that he had seen an increase in interest in the subject.
“The thing that moves this dial more than anything is curiosity,” Wager said of DE&I. “More people are now cognizant of it from both a business perspective and a personal perspective and this majority moves the dial. So, if you're asking me whether there's change, of course there’s been change. Do I think we need to do more? Of course we do.
“This is a societal issue. It won’t change overnight, but I need to see incremental steps, which I'm seeing. What I'd like to see is those steps quicken because I still think we have got a long way to go.”
Clearly, while issues may still exist – though hopefully only to a minor extent - there’s a need to highlight the positive strides being made to address industry challenges.
This year’s coveted Mortgage Introducer’s Awards will do just that, with two brand new categories – a dedicated Excellence in DE&I award - plus the Mortgage Industry Employer of Choice. Nominations are underway for industry professionals to put forward the names of those they think live up to the titles – you can nominate here.
What progress on DE&I is there in the mortgage industry?
For Niamh Downey (pictured right), head of business development at Bluestone Mortgages, there’s reason to celebrate - she is clearly inspired by the progress being made within the mortgage world.
“I’m pleased to see greater transparency and conversation around diversity and inclusion within the industry,” Downey said. “As a woman in finance, and in a predominantly male environment, the focus and attention in creating a more accessible, diverse and inclusive industry has been crucial in strengthening the industry.
“As a young woman brought up in a working class, single parent household, I never once considered financial services as a career. While at college I was on a hunt for a job and landed a role at a company that I applied to purely because I liked the sound of its culture. This company just so happened to be in mortgages.”
She added: “However, soon after this job, I took to the finance and mortgages industry very quickly and knew I wanted something more for myself and to become a female leader. My journey in mortgages has led me to Bluestone, where I’ve proudly been working for over four years now.”
Downey runs the internal BDM and broker support team at Bluestone, with her twofold goal to support credit impaired customers and to empower and nurture its sales team to excel. She believes that in an evolving financial industry there’s a need to continuously learn and ‘stay ahead of the curve’.
“With a passion for leadership, the most important lesson for me has been around leading with integrity and empathy, while embracing authenticity,” Downey said. “Being genuine in your intentions and interactions with clients, colleagues and stakeholders, while being transparent and honest, will go a long way in establishing and nurturing long lasting relationships.
“There’s a true sense of purpose working in the mortgage industry. You can make the impossible possible for customers every day, and the opportunity to make a positive, tangible impact on someone's life is a huge motivator for me. As equally as important, I love the dedicated and supportive individuals I get to work with on a daily basis.”
