#BreakTheBias is a year long commitment

International Women's Day is defined as a "global day to celebrate the social, economic, cultural and political achievements of women" and first occurred in 1911.?One-hundred-eleven years later, the 2022 International Women's Day theme is "Break the Bias".

Gender parity has still not been achieved in the world and the pandemic has shed further light on the obstacles women face at home, in their careers and in society. In my previous role with BMO, I spent close to five years dedicated to addressing barriers women face in their finances and banking needs. Through that work, it became evident that we cannot focus exclusively on the financial barriers without also addressing the societal – they are deeply connected.?If the societal issues are not solved, women will never achieve true economic power.

• In 2021, American women made up 48% of the entry level pipeline with their representation dropping through the leadership ranks to represent only 24% of c-suite roles. Women of colour representation contributed only 4% of that 24. Women are also more likely than their male counterparts to invest in the emotional and often unpaid work of diversity and inclusion initiatives in the workplace.
• Nearly 450,000 women in Peel, Toronto and North York live on low income. They face precarious employment, unaffordable housing, expensive childcare and lack of coordination across social assistance programs. Lack of affordable childcare and housing add considerable barriers to a woman's ability to attain long-term employment and career options.
• Gender stereotypes are embedded early – studies have shown that girls as young as 6 years old start to develop beliefs in their abilities and activities as it relates to gendered messaging.

BMO has frequently been recognized for our efforts in striving to create awareness, advocate for change and remove barriers to women's empowerment. We have been awarded the prestigious Catalyst award twice and have been included in the Bloomberg Gender-Equality Index for seven years running. We have demonstrated our commitment to real financial progress for women through our?BMO for Women?program and maintaining our leadership in gender equity with at least 40 percent of senior leader roles filled by employees who identify as women through our?Zero Barriers to Inclusion 2025?strategy.?We also have the?BMO Alliance for Women?ERG where our employees can get involved and promote inclusion, advancement, and support for women.?

Each year, I look forward to International Women's Day, when we celebrate and honour women and their achievements. This is accompanied with a big HOWEVER…addressing the challenges women face is a year-long commitment to taking consistent action to drive the change required to bring gender parity and the responsibility is not for women to shoulder on their own. There is always more that we can each do to champion, elevate and support women.?Some of the actions I have taken include:

1. Economic Empowerment. Seek out and support companies that are founded and run by women. I further address barriers by purchasing from companies that are owned by women of intersecting identities. There is additional opportunity to create new models to support these businesses through organizations like SheEO.
2. Philanthropy. Through United Way's Women United? and CAMH's?womenmind, I align my giving with organizations and causes that support women in areas such as mental health, housing and employment supports.
3. Mentorship or volunteerism. When considering an advisory board position, volunteering or mentoring, I choose opportunities that align to breaking or reducing barriers for women and girls who come from different backgrounds than I do.

Share what actions are you taking to?#BreakTheBias?and create a more equitable and inclusive world.

[1]?Source: International Women's Day.com

[2]?Source: McKinsey & Company & Lean In "Women in the Workplace, 2021"?Women in the Workplace 2021: The State of Women in Corporate America

[3]?Source: National Science Foundation?By age 6, gender stereotypes can affect girls' choices | NSF - National Science Foundation