The Rise of the “Chief Care Officer”: Navigating Work While Caring for Multiple Generations
21 Apr 2026
The banking and finance industry is built on performance, precision and people. Yet behind many high-performing professionals is a growing, often invisible responsibility. As people live longer and family structures evolve, more individuals across the sector are balancing demanding careers with caring for multiple generations. This emerging reality has given rise to a new, largely unrecognised role, the “Chief Care Officer.”
A Growing and Near-Universal Reality
Multi-generational caregiving is no longer the exception. It is fast becoming the norm, including within banking and financial services where careers often span decades.
Advances in healthcare, nutrition and medicine have extended life expectancy, making longer lives the standard. However, many people still experience a decade or more of declining health later in life, creating a sustained need for care and support.
For professionals in their 40s, 50s, and 60s, this often means supporting ageing parents or grandparents while still raising children or even helping with grandchildren. In a sector known for long hours, high accountability and client demands, this dual responsibility can be particularly challenging.
At the same time, the industry has seen increased workforce participation, especially among women, alongside greater geographic mobility for career progression. Smaller family sizes mean fewer people to share caregiving responsibilities. As a result, the burden often falls to one person.
This has led to what can be described as the “Club Sandwich Generation,” where one individual is supporting up to four generations at once, often while holding a senior or client facing role.
Defining the “Chief Care Officer”
Within many families, one person becomes the central coordinator of care. This is the “Chief Care Officer,” the individual responsible for ensuring that family members receive the right care, at the right time, in the right place.
In banking and finance, this role is frequently held by professionals who are also managing teams, portfolios, or key client relationships. The skills required in both roles often overlap, including organisation, decision making and crisis management.
However, unlike a formal leadership role at work, the Chief Care Officer position is rarely chosen. It is usually assumed by default, shaped by proximity or circumstance. While some accept it as a responsibility, others experience frustration, particularly when balancing it with high performance expectations at work.
The Reality of Daily Life
Day to day life for a Chief Care Officer in banking and finance can be particularly intense. Professionals are often balancing client deadlines, regulatory requirements and internal expectations alongside personal responsibilities.
Managing school schedules, family commitments, and professional deliverables is already complex. Adding ageing parents into the mix introduces additional layers such as medical appointments, emergency calls, and ongoing care coordination.
These demands are often unpredictable, which can be difficult in an industry that values reliability, availability, and responsiveness. For many, the role becomes equivalent to a second full time job.
Hidden Impacts: Burnout, Guilt, and “Performative” Work
The impacts of multi-generational caregiving are often hidden, particularly in high performance environments like banking and finance.
Burnout is common, driven by the constant pressure to meet professional expectations while managing personal responsibilities. Many professionals feel the need to maintain a composed and high performing image at work, even when under significant strain. This is often referred to as performative labour.
There is also a strong sense of guilt. Employees may feel they are letting down their teams when they need to step away unexpectedly. At the same time, they may feel they are not doing enough for their families.
Over time, these pressures can lead to difficult decisions. Some reduce their hours, step back from leadership tracks, or leave the industry altogether, resulting in a loss of experienced talent.
Career Implications: Pause, Progression, and Retention
The implications for careers in banking and finance are significant.
While the industry has made strong progress in supporting working parents, particularly through flexible work and parental leave, support for multi-generational caregiving is still evolving.
Many Chief Care Officers temporarily scale back their ambitions, which can impact progression in what is often a competitive and fast-moving environment. This can contribute to talent leakage, particularly at mid to senior levels where experience is critical.
At the same time, caregiving can develop highly valuable leadership capabilities such as empathy, resilience, adaptability and complex problem solving. These are essential skills in an industry increasingly shaped by change, technology and client expectations.
What Caregivers Need Most
Across the banking and finance sector, the needs of working caregivers are consistent:
- Acknowledgement, recognising caregiving as a legitimate and significant responsibility.
- Flexibility, enabling professionals to manage unpredictable demands without compromising performance.
- Continuity, ensuring employees can remain in the workforce and continue to progress over time.
These are not just wellbeing initiatives. They are critical to retaining experienced, high performing talent.
Practical Solutions for Organisations
For banks, financial institutions and professional services firms, there is a clear opportunity to lead.
Practical actions include:
- Understanding the cost of attrition. Losing experienced employees, particularly at senior levels, has significant financial and cultural impact.
- Listening to employees. Regularly gathering insights on caregiving responsibilities helps shape relevant policies and support.
- Offering flexible work models. Hybrid work, flexible hours and leave options are now essential, not optional.
- Training leaders. Managers play a critical role in creating psychologically safe environments where employees can be open about their responsibilities.
In a competitive talent market, organisations that support caregivers will have a clear advantage in attraction and retention.
Advice for Those Stepping Into the Role
For professionals in banking and finance who find themselves becoming the Chief Care Officer, a proactive approach is important.
Consider your support systems, both personally and professionally. Open conversations with managers can make a significant difference, particularly in organisations that value flexibility and inclusion.
Explore available options such as flexible working arrangements, carer’s leave, or temporary adjustments to workload. A supportive team environment is also critical.
One piece of advice stands out strongly. Where possible, remain connected to the workforce. In an industry where careers are built over time, staying engaged, even at a reduced capacity, can support long term progression and personal wellbeing.
A New Normal for the Industry
Multi-generational caregiving is not a temporary trend. It is a defining feature of the modern workforce, including within banking and finance.
As the industry continues to evolve, recognising and supporting Chief Care Officers will be essential. Not only to support employee wellbeing, but to retain the experience, leadership and talent that drive organisational success.
For an industry built on long term relationships and trust, supporting those who are caring for others is not just the right thing to do. It is a strategic imperative.
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Acknowledgement
We extend our sincere thanks to Abby Bloom, CEO and Founder of My Caring Life, for her valuable insights and collaboration on this article.
To learn more from Abby, you can explore her book The Cost of Not Caring: Working While Caring in the Era of Longevity.
