The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
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.
Office of Minority and Women Inclusion
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.
Resource networks are Bank-sponsored, employee-driven groups that work voluntarily to enhance diversity and inclusion by organizing Bank events and activities for the benefit of all employees. Membership, meetings and attendance at resource network events are open to all Bank staff.
The resource networks provide members with the opportunity to share common experiences, build cultural awareness and support the Bank’s business objectives by linking network business plans to the Bank’s business goals. The strategic direction of all networks requires outreach into four broad categories: recruitment and retention of diverse talent, professional development, innovation in Bank business, and community involvement.
The networks provide professional development opportunities for leadership, offer exposure to senior officers, facilitate mentoring, sponsor outside speakers, assist with recruiting diverse candidates, and partner with new nonprofit and community groups.
AALMA African American and Latino Men's Alliance
APNA Asian Professional Networking Alliance
FedAbility Disabilities Awareness Network
Generations Multi-generational Network
MOSAIC Mentoring, Opportunities, Support, Advancement, Inspiration, and Change for African American and Latina Women
Nightlight Evening Shift Staff Network
OPEN Lesbian, Gay, Bi-sexual and Transgender Employees and Allies Network
The Federal Reserve Bank of New York strongly encourages a spirit of openness for its people, which fosters a genuine commitment to diversity; respect, regardless of race, gender, national origin, sexual orientation, gender identity, disability, age, religion or any such factor or attribute; and inclusion in people, thought and perspective.
As president of a Federal Reserve Bank in one of the most diverse regions of the world, I am proudly committed to enriching and expanding our commitment to diversity and inclusion. Talented individuals, with varied perspectives, ultimately yield more creative solutions and better results.
I believe a diverse and inclusive workplace better equips the Bank to carry out its broader mission, makes a real difference for the people we serve, and is encouraging to those who work here. I urge you to browse this web page for more information on the Bank's efforts.