The Importance of Being Diverse

Financial service providers (“FSPs”) need to take issues of diversity and inclusiveness seriously, or face some unpalatable consequences.  Lack of diversity at senior management is considered by the Central Bank of Ireland (the “Central Bank”) and other regulators to be a leading risk indicator, including prudential risk. Failing to ensure diversity and inclusiveness at all levels, including senior management, may lead to both regulatory and reputational difficulties for an FSP.

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