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FHFA's Office of Minority and Women Inclusion (OMWI) Issues 2018 Annual Report to Congress

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Published: 3/28/2019

FHFA's 2018 OMWI Annual Report to Congress describes the measures taken under the Dodd-Frank Act to increase diversity and ensure inclusion throughout the FHFA workforce and in our business activities, including procurement.  The Report describes how we've accomplished this by continuing existing programs that have been effective, as well as developing and implementing new strategies and initiatives to support a diverse workforce and maintain an inclusive organizational culture.  I'm proud of what's been done.

The Report also summarizes FHFA's oversight of the diversity and inclusion activities of its regulated entities – this includes Fannie Mae, Freddie Mac, the 11 Federal Home Loan Banks, and the Office of Finance, as required under the Housing and Economic Recovery Act of 2008. 

Key takeaways from the 2018 report: 

  • Minority representation in FHFA's workforce grew more diverse — from 212 minority employees in 2014, to 253 in 2018. Minority and female representation across our top six mission-critical occupations rose to almost 40 percent.
  • FHFA increased minority- and women-owned business (MWOB) participation, with MWOBs representing nearly 43.6 percent of all contracting actions and almost 31 percent of our total obligations in 2018. 
  • OMWI implemented our new “Good Faith Effort Policy" review to determine whether contractors and subcontractors ensured the fair inclusion of minorities and women in their workforces.
  • The OMWI supervision and examinations team completed the second year of FHFA's diversity and inclusion examination program to examine and assess the diversity and inclusion practices of each regulated entity.  
  • We launched a data management review system to organize OMWI's operational environment and provide processes applicable to our diversity and inclusion initiatives.

We are pleased with the progress made advancing diversity and inclusion and look forward to further strengthening this core value as an integral part of FHFA's mission.

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By: Sharron Levine

Director,
FHFA Office of Minority & Women Inclusion

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