The image of financial services is “much more engaging” for younger people, with the perception that financial institutions are "boring" no longer existing, according to Leeds Building Society business development manager, Kate Whelan.
Whelan explained that financial services and the way it's viewed has changed “quite a bit” over the past 10 years and the stereotype of members in the industry being a middle aged white male is not what people perceive anymore.
She added that a lot of financial institutions, such as banks or insurance companies, have become “household names”.
Whelan explained there are now adverts on the TV for things like health insurance or similar and, as a result, younger people no longer see these firms as a boring financial institute like a high street bank was seen years ago.
“I don't think the industry looks as boring as it used to be, I think it appears much more engaging now,” she said.
Diversity and inclusion
On the matter of diversity and inclusion, Whelan recounted some examples of positive things she has experienced in her own career.
“I think within Leeds Building Society the diversity and inclusivity is great.
“We had a big of campaign involving various staff members who face lots of challenges because of their race or gender or sexuality, where short videos were created to inform about these challenges."
She stated this was an “informative” piece as to what sort of challenges people face.
This allowed employees to watch videos of colleagues and talk a little bit about what challenges they might have had to deal with, what struggles they have faced in the past or face today, and other aspects they may not be aware of.
A welcoming industry
Whelan also described financial services as a welcoming industry as “a lot of people tend to go into financial services and stay in financial services”.
She added that, when she started her professional career, there were lots of people that had worked in the industry for a long time.
As a result, there was a large knowledge base amongst colleagues and, even though new entrants might not know everything, there was always somebody around they could ask.
“That kind of assistance has been present in the industry for quite a while, and, as a result of being able to ask for advice when needed, I thought it was fairly welcoming.”
Professional journey
Whelan also outlined her professional journey and the jobs she has had in her career, stating that her background has always been, predominantly, in financial services but with a “bit of a different mix”.
Her first “proper role” within financial services was at Bupa, a company that she stayed at for 12 years.
During that time, Whelan progressed from an administrator role to doing telephone account manager based roles, which she described as “quite similar to what I do now” as she was looking after intermediaries and brokers.
Following this telephone based role, Whelan moved onto another insurance based role, revolving around risk insurance, before starting as a business development manager two and a half years ago.
Subsequently, Whelan then moved to Leeds Building Society as she was hoping to join a “really good company” with “great career progression opportunities” and “great benefits”.
“I really enjoyed my time at Bupa and, when it came to an end, I wanted another reputable company, another well known sort of high street name, and a company at which I believed there to be good career progression.”
tom.dunstan@ft.com
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