The New York Fed has a long-standing commitment to attracting, developing and retaining a diverse workforce and to building an inclusive work environment.
The Office of Diversity and Inclusion (ODI) is charged with helping the Bank's leaders design and implement an action-oriented strategy to advance the Bank's diversity and inclusion goals. The ODI also helps managers more generally create a work environment that respects and fully values the strengths and differences of its people.
The Bank fosters an inclusive work environment and seeks to increase its level of employee awareness and engagement. The ODI is under the direction of the Bank's chief diversity officer.
The Bank has had a long-standing commitment to diversity and over the last few years has made a more strategic effort to focus on diversity and inclusion. Efforts include creating an Office of Diversity and Inclusion and adding more Resource Networks for our employees.
Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 requires each Reserve Bank and the Board of Governors, as well as other financial regulatory agencies, to establish a dedicated office—an Office of Minority and Women Inclusion (OMWI)—with responsibilities concerning diversity in employment, contracting, and outreach activities.
In January 2011, the Office of Diversity and Inclusion assumed the responsibilities of the OMWI for the Bank. The Bank views the OMWI requirements as an opportunity to both complement our existing efforts and build upon them.
Section 342 of the Dodd-Frank Act also requires that a report be submitted annually to Congress describing actions taken by the Bank related to its activities in the areas of workforce diversity, business and supplier diversity, and economic education and community outreach.
The Bank's 2014 OMWI Annual Report highlights the specific steps completed, progress made, challenges encountered and plans to move the Bank’s diversity initiatives forward. It also includes reportable spend data concerning the Bank's minority-owned and women-owned contractors, as well as the Bank’s 2014 Workforce Information Report, which is a general snapshot of the Bank's overall employee composition. The race and gender categories in the Workforce Information Report, as well as the job categories, are created by the Equal Employment Opportunity Commission and are the industry standard to measure and compare employee populations.