Adelaide hosted a dynamic event for International Women’s Day (IWD), bringing together industry leaders, financial experts, and trailblazers in finance to discuss the changing issues surrounding women in finance.

The event, held in partnership with FINSIA, the SMSF Association, and the Stockbrokers and Investment Advisers Association (SIAA), marked a significant occasion as it commemorated the 30th anniversary of the United Nations' Beijing Declaration and Platform for Action.

The theme of this year's IWD was ‘March Forward,’ emphasising the ongoing need to advance gender equality in all sectors, particularly within the financial services industry.

Celebrating women in financial services

The event shone a spotlight on the critical role women continue to play in reshaping the financial landscape. Attendees heard from influential women in leadership roles who shared their personal stories and experiences, reflecting on how far they’ve come in breaking barriers and pushing for gender equality in an industry historically dominated by men.

Speakers included Shirley Schaefer, Partner, Superannuation, BDO Australia, Loretta Reynolds SF FIN, Partner, Markets & Chair, Thomson Geer, and Andrea Johansen, Head of Planning & Enablement (Group Risk), Bendigo Bank.

One of the key areas discussed was the transformation of the financial services industry, which has faced significant challenges in recent years. Speakers highlighted how large segments of the industry have faced increased scrutiny from regulators and the media. Despite these pressures, resilience within the sector has allowed it to survive and even thrive, with many positive changes arising in the aftermath of the Global Financial Crisis (GFC) and the Royal Commission.

Breaking barriers and driving change

A central topic of the discussion was the role of women in leadership and their ongoing efforts to make meaningful change. While leadership teams, such as those at Bendigo Bank, have made gender diversity a priority and progress has been made, change is slow.

A positive call out was that the conversation has evolved, with fewer people dismissing the importance of gender equality. Notably, banks and larger superannuation funds have been pivotal in driving change to attract top talent, introducing more inclusive policies, encouraging service providers to do the same, and fostering environments where women can thrive.

The gender pay gap remains a pressing issue, and speakers emphasised that while improvements has been made due to higher levels of transparency, there is still much to be done. This comes as The Workplace Gender Equality Agency (WGEA) recently released research to explore gender balance in Australian workplaces.

As of February 2025, financial and insurance services had a remuneration midpoint of 22.2 per cent, second only to construction, meaning it had the second highest industry pay gap.

Last year, WGEA and FINSIA collaborated to create a video series to understand and address wage disparities within finance organisations. Lack of opportunities, generational differences and a long lasting male driven dominant culture was key to the finance sector’s high ranking compared to other industry peers.

The discussion also noted that women in managerial roles often face different career trajectories depending on their sponsorship. Female managers who have a male sponsor, for instance, tend to reach partnership status more slowly than those with female sponsors. This insight highlighted the continuing influence of gender dynamics in career progression.

The event also provided invaluable advice to young women aspiring to succeed in their careers. One of the key lessons shared was the importance of developing support networks and mentorship. Having a female mentor early in one's career is seen as a vital element in overcoming obstacles and advancing to the next level.

Emphasising the importance of proactivity, they advised women to take risks, say “yes” to new opportunities, and always strive to be a valuable team member. Building a reputation for getting things done is one way to earn respect and open doors for future career advancement.

Speakers also urged the audience not to shy away from asking questions, making their voices heard, and pursuing opportunities with confidence. They encouraged women to “stir the pot” and be bold in their ambitions.

Marching forward and the importance of support

The ‘March Forward’ theme resonated deeply with many of the attendees. A central takeaway was the need for women to support one another, rather than placing artificial limits or “glass ceilings” on each other’s success. The outdated mindset of “you have to go through what I went through” was called out, with a strong push for more empowering and inclusive approaches to career progression.

The conversation shifted to broader discussions on creating more inclusive workplaces, where gender is just one part of the equation. Speakers advocated for young talent leadership programmes, greater networking opportunities, and career progression conversations that focused on inclusivity and equality. It was also emphasised that

advancing women requires investment—both financially and in terms of time—by businesses and organisations.

While there has been significant progress, the message from the event was clear: the fight for gender equality is ongoing.