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Office of Diversity, Equity, Inclusion, and Opportunity
ODEIO is instrumental to our diversity and inclusion progress, from monitoring the efficacy of our current efforts to implementing new initiatives that help us better reach our goals.
Areas of focus
The Dodd–Frank Wall Street Reform and Consumer Protection Act, passed in 2010, requires under Section 342 each of the 12 Federal Reserve Banks to establish an Office of Minority and Women Inclusion (OMWI). The Cleveland OMWI is housed within the Office of Diversity, Equity, Inclusion, and Opportunity and supports matters relating to workforce diversity, supplier diversity, and financial literacy.
As part of our mission and the Bank’s involvement in our communities, we value the diversity of our Bank directors. Please visit the Board of Governors website for detailed information about the demographic characteristics of Reserve Bank main office and branch directors.
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Our culture of inclusion is apparent in all we do. It’s one of our core values, demonstrated in when and how we collaborate across our organization to achieve better outcomes, how we communicate with others to gain input and garner support, and how we generate ideas to advance our mission. Organizations that have a diverse workforce are more effective, not only at the nation’s central bank, but also across all industries and sectors of the economy.
At the Federal Reserve Bank of Cleveland, the diversity of our workforce and equity in our policies and practices are foundational to our culture of inclusion and to providing opportunity for all. It is vital to the Bank’s mission to encourage economic growth and financial stability. We continually strive for greater positive impact in our service to the public and the communities in which we work and live.
View our latest Equal Employment Opportunity Employer Survey Report (EEO-1).
Each day, we see how diverse perspectives, informed by different backgrounds, experiences and thought processes, yield more creative approaches and tangible outcomes for everyone. To attract the most talented and diverse candidate pools, the Bank attends college fairs, posts positions with minority-affiliated professional organizations, joins networking events, and collaborates with professional organizations. We recognize that we must be active in the organizations and communities from which we recruit our job candidates. As one example, we nurture relationships with historically black colleges and universities (HBCUs) that go well beyond today’s recruitment, looking ahead to future generations of new hires. Learn more about our careers and our available internships.
Economist and Research Analyst Diversity
The information below shows the racial and ethnic and gender makeup of the Bank's PhD economists and research analysts (RAs). The Federal Reserve System employs economists across a wide range of expertise. RAs are generally hired directly after undergraduate study and work alongside economists. They are usually in their positions for a few years and leave the role well-suited to pursue graduate degrees, often in economics.
2024 Cleveland Fed PhD Economist and Research Analyst Demographic Information
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As part of our commitment to diversity, equity, inclusion, and opportunity, the Cleveland Fed aims to maximize the overall level of participation by certified minority-, women-, LGBTQ-, veteran-, and disabled-owned businesses in our purchase of materials and services. We provide qualified suppliers with the opportunity to compete for the Bank’s business on a fair and equal basis.
Types of goods and services we seek:
- Accounting and financial services
- Building materials and furnishings
- Human resources training
- Management consulting
- Technology and software
Want to become a supplier?
To make it easier to do business with the Bank, we’ve simplified the supplier registration process. If you don’t have a profile yet, it’s simple to set one up using our supplier registration form. Creating a profile will enable the Cleveland Fed and other Reserve Banks to invite you to bidding events.
Contact us for more information
Want to learn more or work with us? Contact our supplier diversity team at CLEV.X.Purchasing@CLEV.frb.org for more information.
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The Financial Literacy and Career Readiness branch facilitates and cultivates relationships with the future generation of the workforce through strategic efforts aligned to Office of Minority and Women Inclusion initiatives. Utilizing direct-to-audience program services, our team leverages community impact to increase public favorability of the Federal Reserve Bank of Cleveland through programming and collaborative partnerships with community organizations providing underrepresented minority students – from kindergarten to university – the opportunity to build a trusting relationship with the Federal Reserve Bank of Cleveland at the earliest stages of their educational process.
Economic empowerment has historically been an unequitable experience for many Americans from underrepresented minority communities beginning with educational and career exposures at an early age. As the world continues to progress and innovate, opportunities to incorporate more diverse perspectives as well as unbiased professional environments are becoming essential tools for organizations. Bypassing, as well as not developing, talent in the communities at the center of metropolitan cities which tend to be underrepresented populations in professional fields, has become a common scenario leading to brilliant minds being unable to contribute to economic wellbeing of their own communities. The team aims to provide equitable opportunities to underrepresented minority students through strategic initiatives to begin bridging the gap between the financial worlds and the ever-changing global economy in the present as well as the future.
Bankwide inclusion
At the Cleveland Fed, we are dedicated to sustaining an environment in which diversity is valued and viewed as a strength, and our plans and actions are designed to best use the opportunities that diversity presents. Our efforts involve data collection and analysis, including participating in regional and national benchmarking surveys, to measure inclusion progress toward our strategic business objectives. On a regular basis, we review processes and reporting to identify trends related to diversity in our daily processes such as talent acquisition, talent retention, and employee movement throughout the organization. When upward or downward trends are discovered, ODEIO researches the causes and provides recommendations for actions to address them and bring about positive responses.
Our data and information are also used to benchmark our efforts against leading industry practices regarding executive involvement, talent development, employee benefits, supplier and subcontractor good faith efforts, and social responsibility, among other things, with respect to diverse and inclusive operations.
We gauge our effectiveness in diversity, equity, inclusion, and opportunity by participating in regional and national benchmarking surveys annually. We use the information we receive to identify what we can change for the better and how we can strengthen our engagement with communities and leaders in our region.
- The Greater Cleveland Partnership – Organizational Assessment: We are a Hall of Fame recipient for supplier diversity and a 2022 Best in Class awardee for board diversity and workforce diversity
- DiversityInc Top 50 Companies for Diversity: Named to Top Regional Companies list in 2014, 2015, 2016, 2017, and 2021
- Diversity Best Practices: Recognized in the 2020 Inclusion Index
- Diversity MBA: Ranked sixth on the 2023 Best Companies for Women & Diverse Managers to Work List
- Human Rights Campaign (HRC) Corporate Equality Index: Earned the top score for nine consecutive years (2015-2023). In 2023, the Federal Reserve Bank of Cleveland was a designated recipient of the Equality 100 Award.
Employee Resource Groups
At the Cleveland Fed, we strive to ensure our employees feel supported and valued. Our employee resource groups (ERGs) are one example of support we provide for our employees to thrive. From an inclusive leadership perspective, ERGs provide an opportunity for employees who share a common purpose or background to come together in support of each other and of the Bank’s recruitment and onboarding and retention processes and strategic initiatives. Our groups promote a welcoming work environment—open to all employees—that embraces differences and creates value in all that we do.
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4VETS is a network that allows employees and family members with shared military backgrounds and interests to connect with colleagues inside and outside of their business lines to broaden personal and professional networks and support veterans in the district.
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The CollaborAsians ERG provides a means to share knowledge, experiences, and perspectives regarding issues related to “Asian-ness” and the Asian culture.
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Communities for Overcoming the Obstacles in Life (COOL) exists to provide sharing support to coworkers and the Bank by breaking down biases, stereotypes and behaviors and building awareness and understanding through education.
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HYPED supports young professionals in their early career journey by providing opportunities for engagement and development. This group provides time to network with other professionals within the organization, learn about both personal and professional development opportunities, and promote a high-performance culture with alignment to the Cleveland Fed's strategy.
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The Lesbian, Gay, Bisexual, Transgender, Queer, and Ally (LGBTQA) ERG exists to support the LGBTQ+ community at the Federal Reserve Bank of Cleveland and to help the Bank become an employer of choice for the LGBTQ+ community.
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The ROOTS (Resources, Outreach, and Outlooks To Support Parents) employee resource group connects employees who have new, transitioning, or established families. ROOTS brings together a diverse assembly of parental caregivers (moms, dads, stepparents, foster parents, aunts, uncles, grandparents, and many others) that spans generations, with the main goal of providing information and education to those who have or care for children of any age.
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Somos Uno (“we are one” in Spanish) exists to support and empower Latinx and Hispanic talent at the Cleveland Fed. This ERG is focused on increasing awareness of Latin American cultures, building a sense of community for Latinx & Hispanic employees, and connecting with and serving the broader Latinx community in the Fourth District.
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The mission of Strengthening Talented African American Resources (STAAR) is to be actively engaged in our Bank’s success by supporting a culture that values differences and advocates awareness through open minds and inclusive attitudes.
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The mission of the Women Inspiring Leadership and Development (WILD) ERG is to identify topics of interest to Bank employees related to gender diversity, to coordinate events/activities that promote engagement around these topics, and to build relationships and share experiences within the coordinating group itself.
Employee Engagement and Professional Development Groups
Engagement and Professional Development Groups are focused on a social interest and/or professional development to assist with fulfilling the mission and vision of the Bank.
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The Employee Engagement Advisory Group exists to identify employee engagement improvement opportunities and develop and execute strategies to affect sustainable improvement in employee engagement at the organizational and business line levels.
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FedOrators, affiliated with Toastmasters International, provides a safe environment for employees to practice their public speaking skills and become confident communicators who can deliver powerful messages in front of any audience.
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Green Team serves as a resource to the Bank in developing, leading, and maintaining sustainability practices for all functional areas. This allows the Green Team to identify and determine the best approaches for sustainable operations within the Bank and throughout the Fourth District.
Office of Diversity, Equity, Inclusion, and Opportunity Team
Diana C. Starks
Alfie Chatman-Walter
Talia Seals
Elaine Suarez
Veronica Ruiz Petraitis
Rocio Hudecek
Financial Literacy and Career Readiness Team
Khaz Finley
Lakisha Higgins
Samantha Tyler
Elle Benak-Dammarell
Davonta Milbry
Office of Minority and Women Inclusion (OMWI) annual reports
The OMWI Annual Report to Congress provides an overview of the Bank’s successes, challenges, and next steps in fulfilling the expectations of Section 342 of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010. The Equal Employment Opportunity Commission Report contains data about gender, race, and ethnicity by job grouping to the US Equal Employment Opportunity Commission.
Year | OMWI Annual Report to Congress | EEO-1 Employer Information Report |
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2023 | Download | |
2022 | Download | Download |
2021 | Download | Download |
2020 | Download | Download |
2019 | Download | Download |
2018 | Download | Download |
2017 | Download | Download |
2016 | Download | Download |
2015 | Download | Download |
2014 | Download | Download |
2013 | Download | Download |
2012 | Download | Download |
2011 | Download | Download |
2010 | Congressional requirements for OMWI reporting began in 2011 | Download |