Financial Institution Diversity
Financial Institution Diversity is a program for assessing the diversity policies and practices of FDIC regulated financial institutions. The FDIC, together with other federal financial regulators, developed and issued the Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies (Policy Statement) on June 10, 2015.
The Standards identified in the Policy Statement offer guidance and a framework that enable a financial institution to voluntarily assess its diversity and inclusion practices in several key areas:
- Organizational Commitment to Diversity and Inclusion
- Workforce Profile and Employment Practices
- Procurement and Business Practices – Supplier Diversity
- Practices to Promote Transparency of Organizational Diversity and Inclusion
- Entities’ Self-Assessment
The FDIC has developed a Diversity Toolkit with resources to assist and strengthen diversity programs in financial institutions.
The FDIC’s Office of Minority and Women Inclusion (OMWI) prepared a video that is available on the FDIC YouTube Channel. OMWI Director Saul Schwartz describes the FDIC’s Financial Institution Diversity Program in the video. FDIC-regulated financial institutions having 100 or more employees are encouraged to conduct annual self-assessments of their diversity policies and practices as outlined in the Policy Statement.