2020 Financial Institution Diversity Self-Assessments: Voluntary Self-Assessments Accepted Now through June 30, 2021

March 15, 2021 / Source: FDIC

Financial Institution Letter

FIL-17-2021

Summary:

The FDIC’s Office of Minority and Women Inclusion (OMWI) encourages all FDIC-supervised financial institutions with 100 or more employees to submit voluntary self-assessments of their diversity policies and practices. The FDIC gathers and analyzes this information in accordance with Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The window for submissions for the 2020 reporting period is open until June 30, 2021.

Statement of Applicability: The information conveyed in this Financial Institution Letter (FIL) is applicable to all FDIC-supervised financial institutions with 100 or more employees.

Highlights:

• OMWI’s Financial Institution Diversity program assesses the diversity policies and practices among FDIC-supervised financial institutions in the following areas:
  • Organizational commitment to diversity and inclusion,
  • Workforce profile and employment practices,
  • Procurement and business practices/supplier diversity,
  • Practices to promote transparency of organizational diversity and inclusion, and
  • Entities’ self-assessment.
• Participation in the Financial Institution Diversity Self-Assessment (FID-SA) is voluntary but encouraged for all FDIC-supervised financial institutions with 100 or more employees. The assessment is not an examination requirement; results have no impact on an institution’s safety and soundness, consumer compliance, or CRA examination ratings.
• The FDIC treats all information gathered through the self-assessments as confidential commercial information. Requests for data or information will be processed in accordance with the Freedom of Information Act.
• The self-assessment is fully automated and accessible online through the secure FDICconnect portal. The assessment can be completed electronically by multiple authorized users. Previous submissions can be viewed, and content from a previous submission can be easily imported for the current reporting period. Institutions can also attach supporting material, print their assessment, and save it to a .pdf format.
• If you need to obtain access to the FDICconnect portal, contact your institution’s FDICconnect Coordinator. If you do not know who your institution’s coordinator is, send an email to FDICconnect@fdic.gov.
• Additional resources to help you complete the self-assessment, including a user guide, facts sheet, and video tutorial, are available on the FID-SA Diversity Self-Assessment Portal webpage.

FDIC Financial Institution Diversity Program
FID-SA Diversity Self-Assessment Portal Page
Analyses of Diversity Self-Assessments

Distribution:

FDIC-Supervised Institutions (with 100 or more employees)

Suggested Routing:

President/Chief Executive Officer
Human Resources Manager
Diversity & Inclusion Officer or equivalent
Supplier Diversity Officer or equivalent

Related Topics:

Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies (Policy Statement)

The Standards for Assessing the Diversity Policies and Practices

What Bankers Need to Know About the Diversity Self-Assessment (video)