Report to the Congress on the Office of Minority and Women Inclusion, March 2016

The Board of Governors of the Federal Reserve System (Board) is responsible for implementing numerous provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act). The Dodd-Frank Act requires, among other things, that the Board produce reports to Congress on a number of topics. The Board maintains a Regulatory Reform website, which provides an overview of regulatory reform efforts implementing the Dodd-Frank Act and a list of the implementation initiatives completed by the Board as well as the most significant initiatives the Board expects to address in the future. In January 2011, the Board of Governors of the Federal Reserve System (the Board) established its Office of Diversity and Inclusion (ODI) to promote diversity and inclusion throughout the agency and in the financial services industry. ODI builds on the Board’s long-standing efforts to promote equal employment opportunity and diversity and to foster diversity in procurement. Implementing section 342(e) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), the Office of Minority and Women Inclusion (OMWI) is housed within ODI.2 The OMWI function under ODI is required to submit an annual report to the Congress outlining its activities, successes, and challenges. This is ODI’s report for calendar-year 2015. Sheila Clark is the OMWI director and director of ODI. ODI’s mission and scope include the responsibilities identified in section 342 for the OMWI, as well as Equal Employment Opportunity (EEO) compliance programs and initiatives addressing diversity and inclusion. ODI works to assess the Board’s diversity policies, programs, and performance to determine progress and increase transparency. ODI’s ongoing effort to foster an informed dialogue on diversity best practices includes participation in Equal Employment Opportunity Commission (EEOC) technical workshops, attendance at conferences and events held by professional organizations, and participation in financial industry groups addressing diversity issues.