Improving the Representation of Blacks
in Banking, Finance & Tech Sector in
British Columbia and Alberta.
Improving the Representation of Blacks
in Banking, Finance & Tech Sector in
British Columbia and Alberta.

ESDC WORBE Program

Workplace Opportunities: Removing Barriers to Equity (WORBE) is designed to support employers subject to the Employment Equity Act (the Act) in their efforts to improve designated group representation in areas of low representation through partnerships and industry-tailored strategies.

Workplace Opportunities: Removing Barriers to Equity (WORBE) is designed to support employers subject to the Employment Equity Act (the Act) in their efforts to improve designated group representation in areas of low representation through partnerships and industry-tailored strategies.

BWBN WORBE Project

Black Women Business Network (BWBN) WORBE’s project titled : “Improving the Representation of Blacks in Banking, Finance and Tech Sectors in BC and AB” in collaboration with partner organizations Tech and People (TAP), Black Buildup, Vancity Credit Union, and British Columbia Institute of Technology (BCIT), seeks to improve the representation of Black persons (including newcomers, immigrants, persons with disabilities (PWD) and francophones) in targeted occupational groups (senior managers, middle managers, supervisors and professionals) in the Finance and Tech sectors

Project Objectives

The overarching goal of this project is to identify and address systemic barriers that promote the underrepresentation of Black professionals in the banking, finance, and tech industries in Alberta and British Columbia.
Through the project, we will work to:
• Gain a comprehensive understanding of the diversity and inclusion obstacles that are specific to the target sectors by considering diverse perspectives and stakeholder engagement.
• Collaboratively work with stakeholders to design effective and sustainable solutions to address the identified barriers.
• Improve representation of Blacks in the finance and tech sectors by developing industry-specific solutions and scaling them to 10 Finance employers. Additionally, we will expand diversity and inclusion tools to 30 tech employers.

Project Outcomes

  • Increased understanding of barriers contributing to the under-representation of black professionals and leaders in the sectors
  • Increased capacity of employers to address barriers
  • Increased capacity of blacks to access sector opportunities and ascend to leadership positions

Tech Sector Research Highlights

Attainment rates in the tech occupations and tech management positions: From 2016 to 2021, the attainment rate for Black individuals in tech-related fields (Digital + High) decreased by 3.3 percentage points in Alberta and saw a more significant decline of 7.1 percentage points in BC.

Sources : Statistics Canada 2016 and 2021 Census data; Authors Analysis

Finance and Banking Research Highlights

Research findings show the representation of Black professional in the Banking & Finance sector in Alberta, British Columbia, Ontario and as follows respectively.

0 %
Alberta
0. 0 %
British Columbia
4. 0 %
Ontario

A 2020 Bloomberg survey found that out of 188 senior roles at Canada’s Big Six banks and two major insurers, only one was held by a Black person

Only

0

Out of

1 0

Senior Roles

Project Partners

Project Sponsors

This project is funded by the government of Canada’s Workplace Opportunities: Removing Barriers to Equity (WORBE) Program.