FY 2022 Office of Minority and Women Inclusion (OMWI) Annual Report to Congress
April 13, 2023 / Source: CFPB
The FY 2022 OMWI annual report to Congress provides detailed information about the diversity, equity, inclusion, and accessibility (DEIA) work of the Consumer Financial Protection Bureau from Oct. 1, 2021 through Sept. 30, 2022. The DEIA work of CFPB aligns closely with the Biden-Harris Administration’s Executive Order on Advancing Racial Equity and Support for Underserved Communities Through the Federal Government , the Executive Order on Diversity, Equity, Inclusion, and Accessibility in the Federal Workforce , the CFPB Strategic Plan, and the CFPB Diversity, Equity, Inclusion and Accessibility Strategic Plan .
The report includes the following areas and highlights:
- Workforce diversity: Diversity among CFPB executives and leaders increased. Fifty-three percent of executives were women, and 46 percent of executives self-identified as minorities. Gender diversity within the four mission critical job series was also strong, with women representing close to or more than 50 percent in the economist, attorney, and miscellaneous administration and program series.
- Workplace inclusion: Employees experienced and perceived a strong sense of inclusion within the CFPB’s workplace. This was measured using 20 inclusion-related questions from the Annual Employee Survey. The 2022 Inclusion Quotient Index was 71.4 percent, exceeding the CFPBs internal target.
- Supplier diversity: In FY 2022, CFPB spent $158.5 million, of which $55.2 million (34.8 percent) was spent with Minority- and Women-owned Businesses. This is a gain of more than 100 percent from CFPBs first full year of implementing supplier diversity efforts in FY 2018.
- Inclusion in business activities: In FY 2022, each CFPB business division created annual diversity and inclusion strategic action plans to further integrate DEIA into business activities throughout the Bureau.
- Regulated entities: The Bureau experienced a notable increase in regulated entities seeking opportunities to discuss their diversity and inclusion programming during FY 2022. These discussions gave organizations the opportunity to share information on their diversity and inclusion efforts that would not be captured in the self-assessment.