Diversity and Inclusion
Message from the President
The Bank is committed to diversity, and to respect for people and their capabilities regardless of their race, religion, color, national origin, sex, age, disability, sexual orientation, gender identity, or genetic information or any such factor or attribute. As Bank president, I am committed to building on and improving on the Bank's tradition of diversity, equal opportunity, and inclusion. I believe it is only with a diverse and inclusive workplace that the Bank can truly perform at its best, carry out its mission, and make a difference for the public we are here to serve.
Eric Rosengren, President and CEO
- Received 100 percent rating in the Human Rights Campaignís Corporate Equality Index (CEI) - Best Places to Work for LGBT Equality - in 2015 and 2016. The CEI is a national benchmarking tool on corporate policies and practices pertinent to lesbian, gay, bisexual and transgender (LGBT) employees.
- 2015 Corporate Social Responsibility honoree at the Boston Business Journalís Leaders in Diversity Awards, honoring companies that have successfully established diversity programs that have created measurable opportunity and change.
- Annual Reports to Congress
Annual summary of practices at the Federal Reserve Bank of Boston that foster diversity and inclusion in areas related to the Bank’s workforce, suppliers and financial literacy.
- Employer Information (EEO-1) Reports
The EEO-1 Report is the demographic representation of the Bank's employee population reported to the Equal Employment Opportunity Commission (EEOC) every year.
About the Office of Diversity and Inclusion
The Office of Diversity and Inclusion is a formally established department of the Bank dedicated to advancing and supporting diversity, inclusion, and equal employment opportunity at the Federal Reserve Bank of Boston.
Internal Diversity & Inclusion
- Diversity Strategy & Plan
- Insights Follow-Up
- Senior Diversity Advisory Council
- Diversity and Inclusion Working Group
- Employee Resource Groups
- Diversity Office Objectives / Business Plan
- Departmental Partnerships
- Multicultural Events
- Diversity Training
- Fed Reserve Assignments
- Diversity & EEO Employee Relations / Complaint Resolution
- Supplier Diversity
- Measurement & Metrics
- Advisory Services
EEO Compliance & Reporting
- EEO Filings
- EEO Performance Report
- Opportunity & Outreach Report
- Formal EEO Complaints
- Internal Reporting to EC
- External Diversity Advisory Council
- Community Partnerships & Forums
- Minority- & Women- Owned Businesses / Vendors
- Minority Professional Networks
- Minority Recruitment Events
External Diversity Advisory Council
In May 2009, the Bank established an external Diversity Advisory Council to work collaboratively with the President and the Office of Diversity to provide advice, counsel, thought leadership, and feedback regarding actions, initiatives, and strategies the Federal Reserve Bank of Boston can undertake:
- To improve diversity within the FRBB at upper levels; and
- To make meaningful contributions, aligned with the FRBB’s strengths and resources, to improving workplace diversity at upper levels in firms and institutions located in the First District community.
The Diversity Advisory Council is comprised of recognized diversity business leaders from the New England region.
Senior Diversity Advisory Council
The Federal Reserve Bank of Boston's Senior Advisory Council is compiled of a group of senior officers in the Bank who provide advice, thought leadership, feedback and guidance to the Office of Diversity and Inclusion regarding DI programs, initiatives, and strategy.
Current members include:
- Jeff Fuhrer, Executive Vice President
- Jim Cunha, Senior Vice President
- Jackie Palladino, Senior Vice President
- Leah Maurer, Vice President
Diversity and Inclusion Working Group (DIWG)
The Diversity and Inclusion Working (DIWG) group is an employee-led group that works collaboratively with the Office of Diversity and Inclusion to advance the Bank's DI goals and objectives. The primary goals of the DIWG are to Recommend and assist with the implementation of diversity and inclusion initiatives; Act as ambassadors for the Bank's diversity efforts; Raise diversity issues or concerns; and Share ideas and information on diversity topics, initiatives, and events. The members represent a cross-section of the Bank community, and include representatives from the Bank's ERGs. The group meets bimonthly, and members will serve on subcommittees focused on important diversity and inclusion issues i.e. recruiting, communications, and supplier diversity.
The 2014-2016 members include: Ceantel Brathwaite, Joe Cabral, Laura Calderwood, Paula Cushman, Steve Dionisi, Sandra Falcon, Cynthia Fernandes, David Levine, Kris MacAuslan, Kevin O'Halloran, Sheryl Snowden, and Elisa Tavilla.
Employee Resource Groups (ERGs)
The Bank supports diversity and the strength that comes from a variety of perspectives, ideas, and approaches to solve important business problems. To this end, employees are encouraged to establish and maintain Employee Resource Groups (ERGs) that embrace and leverage the Bank's diverse internal relationships and community partnerships. ERGs are designed to:
- Provide a valuable meeting ground for employees who share common experiences and/or interests
- Offer recruitment and development opportunities to retain diverse talent
- Promote cultural awareness at the Bank
- Advance the Bank's strategic objectives
Currently the Bank has five formally recognized ERGs:
- Boston Fed Friends, Allies, Coming Together (A1-FACT)
- Leadership, Education, and Development (LEAD) in Women
- Veterans Resource Group
Diversity and Inclusion Mission
- Be a catalyst for best ideas, innovation, solutions, improved morale, and measurable outcomes by effectively leveraging the Bank's diverse human capital.
- Establish a process to effectively infuse diversity and inclusion into the Bank's culture, idea vetting process, recruitment and retention practices, management expectations, leadership development, and business activity.
Diversity and Inclusion Vision
Our vision is to achieve the highest standards of excellence in diversity leadership. Specifically, we aspire to:
- Ensure diversity at every level of the organization by:
- Reflecting the diversity of the relevant applicant pools;
- Partnering with others to increase the diversity of the pipeline of candidates; and
- Working proactively to make certain that our recruitment and retention practices keep pace with an increasingly professional and diverse workforce.
- Be recognized by our employees, our customers, and the community as an institution where internal and external opportunities and rewards are allocated on the basis of performance and contributions.
- Make diversity and inclusion a conscious part of every employee’s business conduct and of our organizational culture.
- Foster an environment of open, responsive, and proactive communication.
- Sustain and nurture our diversity efforts through frequent, critical self-reflection.
Realizing our vision will promote a work environment characterized by creativity, dynamism, responsiveness, pro-activeness, integrity, honesty, fairness and respect. This will help the Bank achieve its mission and support its values.
Equal Employment Opportunity Statement
The Board of Directors has declared unanimously that it is policy of the Federal Reserve Bank of Boston to:
- Provide equal opportunity to all persons without regard to race, religion, color, national origin, sex, age, disability, sexual orientation, gender identity, or genetic information in all actions, including employment, promotion, transfer, termination, wages, benefits and other conditions and privileges of employment.
- Take action to prevent harassment or intimidation of all employees and to ensure that there is no retaliation against individuals who exercise rights protected by the policy.
- Encourage participation by minority vendors in supplying needed goods and services in the Banks’ purchasing requirements.
- Encourage equal opportunities among the Bank’s contractors.
- Establish valid and reliable criteria against which to measure the success of the equal opportunity efforts.
- Provide an example of achievement to the financial community of the First District and to the Federal Reserve System in ensuring equal opportunities.
- Provide information and technical assistance as requested to financial institutions in the First District regarding establishment and administration of equal opportunity programs.
- Delegate to officers, managers, and supervisors the responsibility for achieving the equal opportunity objectives within their respective areas of administration.
- Be an active participant in community activities directed toward improved educational and employment training opportunities for the economically disadvantaged.