May 7, 2010

Federal Reserve Bank of Richmond Honored with Diversity Excellence Award

The Federal Reserve Bank of Richmond has received the Diversity Excellence Award for large-sized businesses in the annual Employer All Star Awards. The awards are presented by the Richmond chapter of the Society for Human Resource Management, the Greater Richmond Chamber and the Richmond Times-Dispatch.

The Diversity Excellence Award recognizes employers who proactively work to improve workplace diversity and inclusiveness and who demonstrate commitment to the added value that diversity brings to an organization.

"Our leaders are educated about their role and active in their support of diversity and inclusion," said Senior Vice President Tammy Cummings. "And as our employees build personal awareness, they are enthusiastically bringing new insights, energy and actions to help turn diversity and inclusion initiatives into a viable and visible part of our culture."

The Richmond Fed was recognized for its diverse recruiting strategies; the on-boarding process for new employees; leader and employee awareness sessions; and the Bank's total compensation philosophy. In addition, the Richmond Fed in 2009 hosted a diversity and inclusion conference attended by more than 100 leaders from across the Federal Reserve System and sponsors employee resource networks, which are voluntary employee-led groups formed around shared interests for the purpose of supporting diversity, inclusion and other strategic initiatives of the organization.

The Richmond Fed also was a finalist for the Best Recruitment, Engagement and Retention Practices Award and the Workforce Development Award. The Employer All Star Awards were presented May 5 at the Greater Richmond Convention Center.

View a video about the Richmond Fed's diversity and inclusion efforts.

As part of our nation’s central bank, the Richmond Fed is one of 12 regional Reserve Banks working together with the Board of Governors to support a healthy economy and deliver on our mission to foster economic stability and strength. We connect with community and business leaders across the Fifth Federal Reserve District — including the Carolinas, District of Columbia, Maryland, Virginia, and most of West Virginia — to monitor economic conditions, address issues facing our communities, and share this information with monetary and financial policymakers. We also work with banks to ensure they are operating safely and soundly, supply financial institutions with currency that’s fit for distribution, and provide a safe and efficient way to transfer funds through our nation’s payments system.

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