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Diversity and Inclusion |
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The New York Fed has a long-standing commitment to attracting, developing and retaining a diverse workforce and to building an inclusive work environment.
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Diversity in Action |
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Guidance and Resources |
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Diversity Advisory Council
In 2006, the New York Fed set up the Diversity Advisory Council, comprised of members from all business lines. The Council is chaired by the Bank's first vice president and comprised of members from all business lines. As business partners and key stakeholders, council members are catalysts in developing and executing a strategy to advance diversity across the Bank and to champion diversity and inclusion as important strategic imperatives. The Diversity Advisory Council works closely with the Office of Diversity and Inclusion to identify and implement diversity and inclusion initiatives.
Office of Diversity and Inclusion
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 establishing a Diversity Advisory Council, creating an Office of Diversity and Inclusion and adding more Resource Networks for our employees. |
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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 community outreach and education. The Bank’s 2011 OMWI Annual Report highlights the specific steps completed, progress made, challenges encountered, and plans to move these initiatives forward. It also includes reportable spend data concerning the Bank’s minority-owned and women-owned contractors, as well as the demographic profile of the Bank’s workforce. Appendix D on page 20 is the Federal Reserve Bank of New York Workforce Information Report 2011, which is a general snapshot of the Bank’s overall employee composition. The race and gender categories as well as job categories are created by the Equal Employment Opportunity Commission and are the industry standard to measure and compare employee populations.
New York Fed 2011 OMWI Annual Report 
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| Resource Networks |
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.
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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
- VETERANS Military Veterans and Families Network
- WFN Working Families Network
- WOMEN WoMEN’s Mentoring and Empowerment Network
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