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FHFA Releases Office of Minority & Women Inclusion Strategic Plan

papers-and-figuresIn an effort to bring diversity, inclusion, and equality to their forefront agency, the Federal Housing Finance Agency (FHFA) released their Office of Minority and Women Inclusion (OMWI) Strategic Plan for FY 2016 to FY 2018 on Tuesday.

The plan is the result a strategic planning process to develop effective strategies to fulfill OMWI’s role in leading diversity and inclusion (D&I) and equal employment opportunity (EEO) efforts at the FHFA, and D&I efforts at Fannie Mae, Freddie Mac, and the Federal Home Loan Bank (FHLBank) System, which includes 11 Banks and the Office of Finance.

“I am pleased to present the first FHFA Strategic Plan for the OMWI,” said Sharron P. A. Levine, director of the OMWI. “This plan presents FHFA’s shared vision on how to make diversity, inclusion, and equality an intrinsic part of the agency’s culture.”

The FHFA’s OMWI was established in accordance with section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, according to the FHFA. The OMWI is tasked with promoting diversity at all levels of the agency’s activities, including employment, management, and contracting.

“The FHFA OMWI Strategic Plan for FY 2016 – FY 2018 represents FHFA’s efforts not only to meet these statutory requirements, but also to foster a work environment that leverages diverse perspectives and encourages collaborative approaches to achieve business success,” Levine said. “It also reflects FHFA’s strategic initiative to promote diversity and ensure the inclusion of minorities and women in the business and activities of the agency and the regulated entities. The plan is a dynamic, working document that will evolve as OMWI works to strengthen diversity and inclusion at FHFA, the regulated entities, the housing finance industry, and other sectors of the financial services industry”

The plan also highlights the OMWI’s vision, mission, and values such as integrity, accountability, collaboration, influence, and helping others as part of their strategy to bring diversity and inclusion to the FHFA. It also reveals how the OMWI will support D&I and EEO mandates included in both the Housing and Economic Recovery Act of 2008 (HERA) and the Dodd-Frank Act. The FHFA noted that the strategies and goals in this plan will be achieved through the development of annual operational plans and measured through specific performance metrics.

“OMWI is keenly aware of its responsibilities and the impact its efforts will have on FHFA’s reputation as a leader in diversity and inclusion. I am confident that FHFA’s OMWI team has the passion, experience, and drive necessary to achieve its diversity and inclusion mission.”

OMWI FY 2016 to FY 2018 Goals & Objectives:

Goal 1: Design a Comprehensive OMWI Operational Structure Identify the components, and design an operational structure necessary for the effective and efficient delivery of OMWI programs and services.

Goal 2: Develop Clear and Meaningful Standards Develop standards for implementing D&I within the agency and guidance for use by the regulated entities.

Goal 3: Deliver Meaningful OMWI Communication Educate internal and external stakeholders on the OMWI mission and the inherent benefits and opportunities in achieving its objectives.

Goal 4: Strengthening the Understanding of Diversity, Inclusion, and Equal Opportunity Enhance understanding of the OMWI and EEO missions and ownership of the roles and responsibilities in fulfilling the missions, through knowledge, education, and training, both within the agency and for its regulated entities.

Goal 5: Drive FHFA Cultural Awareness Serve as a catalyst for identifying and addressing FHFA’s cultural inclusion challenges and opportunities.

Click here to view the FHFA's Office of Minority and Women Inclusion Strategic Plan for FY 2016 to FY 2018.

About Author: Xhevrije West

Xhevrije West is a writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University.

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