The R3-Insolvency Service Equity, Diversity and Inclusion Champions Group
Katie Hudson

 

What's your current role and what do you do in it?

I'm a manager in the Resolution and Insolvency department at the Financial Conduct Authority. As a department we support supervision and other teams across the FCA when firms we regulate are facing solvency issues. My team provides analytics and operational support to our case teams, such as providing MI and other data, managing our department's risks, undertaking audits, and owning and updating our internal and cross FCA guidance. I also act as relationship lead with the supervision teams for three of our highest risk portfolios, which keeps my hand in with case work.

How did you get to where you are today?

I joined the FCA in June 2023 following over 25 years at the Insolvency Service where I was latterly Official Receiver of the Public Interest Unit. I thoroughly enjoyed my time at the Insolvency Service, where I worked in a variety of interesting roles over the years, with brilliant people, but it was time for a change. I'd passed my JIEB at the November 2021 sitting and it made me realise there was a wider world out there.

What made you decide to pursue a career in insolvency and restructuring?

Like many people, I fell into it completely by accident, having applied for a temporary admin job at the OR's office in Hull because I needed something to do. As someone who had always had an affinity with numbers and an interest in people, I was soon hooked and moved to Manchester to take a job as a trainee Insolvency Examiner the following year.

I think the variety in the work is what has kept me interested over the years. There is always something new to learn, and no two days are ever the same. Working in the Insolvency Service gave me the opportunity to do some very varied roles, including disqualification investigations, acting as an assessor for the service's internal qualification, a stint leading an internal audit team and working on the Thomas Cook liquidation, as well as many years in frontline OR offices.

Why did you become a D&I Champion?

It's something that has always been important to me - I think because I have a strong sense of fairness. I believe that as a profession we should reflect the make-up of the society that we operate in. Representation is very important.

Things have improved and I've seen huge changes over my years in the profession. One example in particular springs to mind - when I first joined the Insolvency Service there were no female Official Receivers. By the time I left, over half of us were female. But I still think there is some way to go in terms of representation of other groups.

As someone who comes from a public sector background, we have made great strides with EDI initiatives in recent years and I felt like I might have some useful insights to share. I've had the pleasure of working in some really diverse teams and the diversity in thinking that brings is a huge advantage in my opinion. Working with professionals from right across the insolvency sector to promote EDI was an opportunity I felt I couldn't pass up.

Which aspect of the role is most important to you and why?

I'm getting a lot of inspiration from the sharing of best practice and ideas in the champions meetings. The more we can share, the more we can work towards raising the bar across the profession.

What are the best examples of EDI initiatives you have seen in the profession?

I've seen positive action pathways used quite effectively in my previous employment - offering development courses to colleagues who meet particular protected characteristics to give them the confidence to apply for promotions.

I also think network groups can have a really positive influence, both in terms of support offered but also sharing stories and information across a workplace. I'm currently on the steering committee for the FCA's age network, Generate, and we have made a real impact on the conversation on age diversity in the organisation, and raised awareness of the difficulties that staff may encounter at particular ages throughout their careers.

What EDI initiatives have you benefitted from in your firm?

As part of my work with the FCA's Generate network group, I've set up a monthly menopause café which anyone can attend to discuss any aspect of the menopause. That has been a great personal support to me too!

In the Insolvency Service, I saw the dial move massively on the understanding and visibility of staff suffering with mental health issues, through their break the stigma group. Some quite senior people published blogs on the intranet about their own mental health, and it opened up the conversation. It certainly made it easier for me to have a conversation with my own line manager when I needed to.

What's the one thing you would like to see the profession do differently when it comes to EDI?

For me I think it's important that we think about how to attract a more diverse workforce into the profession. A large number of people I've spoken to over the years ended up in a career in insolvency quite by accident. (Myself included!). But we end up staying because it's a fascinating area to work in, where two days are rarely the same and there is always something new around the corner. We need to get that message out across a diverse range of potential applicants.