Our Commitment to Diversity
Diversity and inclusion are fundamental to the work we do every day, and who we are as a community. The Boston Fed encourages diversity and the strength that comes from diverse perspectives, ideas and approaches. We are dedicated to advancing and supporting diversity, inclusion, and equal employment opportunity – and do so through a variety of means. We leverage diversity and inclusion for enhanced creativity, innovation, and better business outcomes.
“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
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.
Equal Employment Opportunity Statement
The Boston Fed’s 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.
- 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.
- Received 100 percent rating on the Human Rights Campaign's Corporate Equality Index (CEI) – Best Places to Work for LGBT Equality – for 2015, 2016, and 2017. 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 Journal’s Leaders in Diversity Awards, honoring companies that have successfully established diversity programs that have created measurable opportunity and change.
The Office of Diversity and Inclusion (ODI) is dedicated to advancing and supporting diversity, inclusion, and equal employment opportunity at the Federal Reserve Bank of Boston. The Bank encourages diversity and the strength that comes from diverse perspectives, ideas and approaches.
The ODI works with a broad range of internal and external stakeholders to execute the Bank’s diversity and inclusion values, which include: providing fair access to career and procurement opportunities; providing a level playing field for training and development, key assignments, mentors and promotion; and leveraging diversity and inclusion for greater creativity, innovation and better business outcomes. Key groups include:
Diversity and Inclusion Working Group (DIWG)
The Diversity and Inclusion Working Group is an employee-led group that works collaboratively with the Boston Fed’s Office of Diversity and Inclusion to advance the Bank's diversity and inclusion goals and objectives. DIWG members 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.
Employee Resource Groups (ERGs) and Affinity Groups
The Bank supports diversity and the strength that comes from a variety of perspectives, ideas, and approaches to solve important business problems. The that end, employees are encouraged to establish and maintain Employee Resource Groups (ERGs) and affinity groups that embrace and leverage the Bank’s diverse internal relationships and community partnerships.
Currently the Bank has 11 ERGs and Affinity Groups that range in subject matter—including but not limited to LGBT, women’s leadership and development, veterans, caregivers, and various ethnicity focused groups.
- Veterans ERG | The Veterans group celebrates, raises awareness, and promotes the continued contributions veterans make to the Boston Fed based upon their unique traits, skill sets, and approaches.
- A1-FACT | Boston Fed Friends, Allies, Coming Together (A1-FACT) provides a forum for LGBT employees to network and to build a supportive environment to enhance the Bank’s standing as an employer of choice for LGBT talent.
- A Nossa | A Nossa is a group of Bank staff devoted to promoting the development, recruitment, and advancement of Portuguese speaking talent and people of Portuguese descent while also increasing awareness of topics concerning and of interest to Portuguese communities.
- Adelante! | Adelante! is a forum to discuss and explore professional development opportunities, and strives to create a positive environment for the recruitment, growth, leadership, and retention of Hispanic/Latino talent at the Boston Fed. Key areas of focus include expanding professional development, mentoring, leadership opportunities, celebrating Latino culture and values, fostering a deeper understanding of issues relevant to the Latino community, and when appropriate, taking a proactive approach to act as change agents outside of the Bank.
- APEX | APEX is a group of employees interested in discussing, sharing, and exploring professional and leadership development opportunities, and contributing to the growth, recruitment, and retention of Asian/Asian-American talent within the Federal Reserve Bank of Boston.
- Eminence | Eminence promotes cross-generational understanding and collaboration. Open to employees of any age, the group will work to engage employees over 40 in knowledge transfer, continuing productivity, meaningful contributions to the Bank’s strategic objectives, and facilitating the success of rising generations.
- LEAD in Women |A group of employees of the Federal Reserve Bank of Boston who share a common interest in discussing, sharing, and exploring professional and leadership development opportunities. The group also supports the next generation of leaders through recruitment, engagement, retention, and other efforts to enhance the presence and influence of talented women at the Bank.
- neXus | The neXus ERG is committed to actively contributing to the growth and development of self-identifying black employees with a focus on recruitment, retention, engagement, and talent development.
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 & Inclusion regarding programs, initiatives, and strategy.
In 2009, the Boston Fed established an External Diversity Advisory Council to work collaboratively with the President and the Office of Diversity & Inclusion to provide advice, counsel, thought leadership, and feedback regarding actions, initiatives, and strategies the Bank can undertake:
- To improve diversity within the Boston Fed at upper levels; and
- To make meaningful contributions, aligned with the Boston Fed’s strengths and resources, to improving workplace diversity at upper levels in firms and institutions located in the Federal Reserve System’s First District community.
The External Diversity Advisory Council is comprised of recognized diversity business leaders from the New England region.