Diversity Policies and Procedures

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• 4 Comments sorted by Votes Date Added
• cnghr 719 Posts

  January 2014 PMVote Up0Vote Down

  We are a commercial bank, not a credit union, but we fall under the same proposed rules regarding the diversity section of the Dodd-Frank Act. Since the job of "diversity officer" is going to fall squarely in my lap, I am currently collecting information on the best way to write a formal diversity policy and reading everything I can find about the proposal, so I hopefully will be prepared when the time comes to implement a plan.
  
  We already have an Affirmative Action Plan and several details about diversity are built into our employee handbook policies, but it sounds as if we will be required by the FDIC (and in your case, the NCUA) to have a formal policy/plan on file and to provide regular progress reports to senior management and the board regarding our progress in meeting the goals of the diversity policy.It doesn't sound as if it will necessarily carry a lot of weight when our regulatory agencies perform their examinations, but we will have to prove that we do have a plan in place, so for now I'm just concentrating on being prepared to write the policy.

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• Dutch2 1,590 Posts

  January 2014 PMVote Up0Vote Down

  We too are in the same boat as cnghr. I have always reported the annual EEOC information to our Executive team - don't know if once a year will be enough now. Considering changing this report to at least quarterly.
  The data we received states Section 342 requires the establishment of an internal Office of Minority and Women Inclusion (OMWI). Financial institutions are expected to have diversity and inclusion policies with regular progress reports to senior management and the board regarding the progress in meeting the goals of the diversity and inclusion policy. The standards also encourage that an entity take proactive steps to promote a diverse pool of candidates in its hiring, recruiting, retention and promotion, as well as in its selection of board members.

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• cnghr 719 Posts

  January 2014 PMVote Up0Vote Down

  Overall, I think the actual diversity of our workforce here is pretty good. In a way, it kind of makes me laugh when they talk about "minority and women inclusion" because our workforce has always been predominantly women (or anyhow for the last 60 years or so...we've been in business since 1924).
  
  Currently, our staff is about 77% female. We have six branches that are 100% women, one branch that is 100% minority women, and two others that are over 60% minorities (mixed men & women). So I'm hoping that our general makeup, along with our formal policy, will satisfy the rules once they are in place.

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• anelr 63 Posts

  February 2014 PMVote Up0Vote Down

  Thank you all for your responses!!!

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