About the Federal Reserve
The Federal Reserve is the central bank of the United States.
The Federal Reserve System (herein after referred to as “the System”) was founded by Congress in 1913 and serves as the central bank of the United States. Its fundamental mission is to foster the stability, integrity and efficiency of the nation’s monetary, financial, and payment systems to promote optimal economic performance.
As part of the Nation’s Central Bank, the Bank promotes sound growth and financial stability in New England (Connecticut except Fairfield County, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont) and the nation. The Bank’s unique contributions to its local communities, region, and the nation stem from the high quality of its research, supervisory approaches, and financial services, and its commitment to leadership and innovation in the following areas:
- Conducting leading-edge research and education on monetary policy, financial markets, and important regional economic concerns;
- Conducting dynamic, comprehensive, bank supervision using on-site examinations and monitoring of banking conditions, practices and emerging issues;
- Leading implementation of special liquidity facilities to support the nation’s pandemic recovery efforts;
- Providing efficient, high-quality payment services to depository institutions and the U.S. Treasury, and developing initiatives with banks and their customers to improve the nations payments system;
- Pursuing cooperative endeavors with business, community, and government leaders to address key local and regional issues;
- Building institutional expertise and flexibility through programs to identify, educate, and develop a highly trained and diverse staff; and
- Developing insight and expertise by providing leadership to System initiatives and international activities, and interacting with other regulatory bodies and central banks.
As part of the Central Bank of the United States, the Boston Federal Reserve works to promote sound growth, financial stability and cutting edge thinking in New England and the nation. The Boston Federal Reserve contributes to communities, the region, and the nation by conducting economic research, participating in monetary policy-making, supervising certain financial institutions, providing financial services and payments, playing a leadership role in the payments industry, and supporting economic well-being in communities through a variety of efforts.
For more information on the Federal Reserve of Boston, please visit their website here.
At this critical time in our history, the Boston Federal Reserve seeks an outstanding strategic leader to focus on the diversity, equity, and inclusion initiatives of the organization. The ideal VP of DEI (Diversity, Equity, and Inclusion) will be a dynamic and engaging individual who not only has a track record in the field but is forward looking, innovative and collaborative in style and approach.
Reporting to the Senior Vice President & General Counsel, leader of the Enterprise Resources Division, the ideal VP will be responsible for developing the Office of Diversity, Equity and Inclusion’s (ODEI’s) strategic plans, diversity, equity and inclusion programs, and close collaboration with Bank and Human Resources leadership in developing policies that support the Bank’s workforce and culture. Additionally, the VP of DEI will oversee all matters related to the Annual Office of Minority and Women Inclusion (OMWI) Report that is delivered to Congress. It will also be expected that this executive will respond to written and in-person Congressional inquiries including responding to the Government Accountability Office (GAO) inquiries and audits performed on behalf of Congress. The ideal executive will have experience with navigating effectively through a matrixed environment.
This position serves on the System’s OMWI Council and may include leading system workgroups and committees.
In addition to the creation of the DEI Strategy, The VP of DEI will provide formal and informal DEI program update presentations to the Executive Committee, the Board of Directors, the Management Council, the External Diversity Advisory Council, the Bank’s Diversity Advisory Council and staff at all levels of the organization.
The VP of DEI will be responsible for coordinating and facilitating the Bank’s New England Financial Services CEO Roundtable and the External Diversity Advisory Council. The CEO Roundtable engages twelve CEOs from banks, investment management and insurance companies in the first district. The External Diversity Advisory Council engages diverse C-suite level executives from a broad spectrum of leading industries in New England. The VP of DEI will be actively engaged in the business community in the First District, and regularly present to organizations and serve as a spokesperson for the Bank on all diversity and inclusion matters.
This position directly supervises an AVP and may directly or indirectly manage other members of the Diversity, Equity & Inclusion Office.
- Leads the development of DEI strategic goals and objectives. Partners closely with Bank leaders, Human Resources leaders and key internal stakeholders to drive the execution of the strategy, including focus across diversity, equity and inclusion workforce programs and policies; oversees supplier diversity spending strategies; delivers required Congressional mandate responsibilities; and, partners with the Bank’s Regional and Community Outreach leaders and key external partners to support and advocate for diversity, equity and inclusion resources and programs in the communities of the First District.
- Partners with Federal Reserve System OMWI and Human Resources colleagues to lead the development of impactful and transparent DEI strategies and programs across the Federal Reserve System.
- Serves as a trusted advisor and thought leader to Bank leaders and employees in ongoing development and implementation of a holistic diversity, equity and inclusion program to support the Bank’s workforce and culture.
- Leads the budgeting and business planning DEI processes and, ensures the allocation of adequate resources necessary to accomplish the short-and long-term goals and objectives.
- Develops comprehensive business plans with measurable goals and outcomes to support the DEI Office multi-year strategy and annual high priority initiatives.
- Manages and oversees the activities of the DEI Office through direct supervision, of Assistant Vice President and/or supervisory personnel, within this area.
- Oversees, evaluates, and/or establishes departmental policies, practices and procedures, and provides direction to functional area(s).
- Creates an inclusive environment that rewards and recognizes individuals for creative and innovative ideas, and appropriate risk-taking that positively impacts functional performance.
- Oversees and directs the administration of department personnel related matters including performance management, salary administration and professional development.
- Represents the Bank, industry and/or may lead system workgroups and committees.
Knowledge and Experience:
While we will consider a broad range of backgrounds, the ideal candidate would have the following qualifications/experience:
- Knowledge and experience often acquired through, or equivalent to, the completion of a Master’s degree in Business Administration or related discipline such as Human Resources, Public Policy, International Relations and/ or Diversity and Inclusion.
- A minimum of 10 years of relevant leadership, supervisory/management, and/or project management. The successful VP will have a track record of influencing and motivating productive interaction, rapid adaptation, and a strong aptitude for fostering healthy team culture.
- The position requires significant interaction with senior executives, and involves high visibility to the Federal Reserve Bank, the overall system’s executive management, Congress, the GAO and CEOs in New England’s financial services industry.
- Commitment to public service with a personal and professional value system consistent with the culture and values of the Federal Reserve System.
- Leadership track record in DEI work with demonstrated expertise to drive best practices.
- Exceptional interpersonal skills and strong analytical, management, and decision-making skills to recommend appropriate solutions.
- Demonstrated ability to build strong relationships in a highly matrixed environment;
- Excellent written and verbal communication skills.
- Proven ability to manage multiple projects and competing priorities while balancing quality with on-time delivery.
The ideal candidate will have the following professional and personal qualities, skills, and characteristics:
- Strategic visionary leader with the ability to turn vision into strategic execution
- DEI leadership track record, successfully implementing best practices and demonstrating an unwavering commitment to an impactful and transparent diversity, equity and inclusion strategy for all
- Innovative outlook with a focus on navigating and driving change as needed
- Public service orientation and commitment
- Systems thinker with strong community engagement and a national outlook
- Engenders trust and consistently demonstrates high integrity – acting with respect, honesty and fairness
- Strong solutions orientation and problem-solving skills
- Data driven: ability to analyze data, evaluate options, and think/plan strategically
- Partnership builder: sincere and approachable leader who can effectively engage with multiple stakeholders; well-honed diplomacy skills
- Relationship builder; fosters an atmosphere of discussion and collaboration between colleagues
- Enthusiastic organizational builder: proven ability to create an environment that supports the continued professional development of staff, recognizing people as key strategic assets, and ensuring a workforce reflecting the diversity of all constituencies and partners
- High emotional intelligence skills
- Superb communication skills
- Exceptional project manager
- Capacity to ensure compliance with applicable laws, regulations, rules, and policies for the organization
Compensation & Benefits
- This is a full-time position with attractive comprehensive benefits
- Compensation will be commensurate with experience.
The Federal Reserve has engaged Koya Partners to help in this hire. Please submit a compelling cover letter and resume to Maureen Alphonse-Charles or Nadine Coleman here. All inquiries and discussions will be considered strictly confidential.
The Federal Reserve Bank of Boston is committed to a diverse and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.
All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.
The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.
About Koya Partners
Koya Partners, a part of the Diversified Search Group, is a leading executive search and strategic advising firm dedicated to connecting exceptionally talented people with mission-driven clients. Our founding philosophy—The Right Person in the Right Place Can Change the World—guides our work as we partner with nonprofits & NGOs, institutions of higher education, responsible businesses, and social enterprises in local communities and around the world.
At Koya, we don’t just accept difference—we celebrate it, support it, and thrive on it for the benefit of our team, our clients, and the communities we serve.
Koya is an equal opportunity employer fully committed to creating an environment and team that represents a variety of backgrounds, perspectives, styles, and experiences. We encourage all to apply because we believe a diversity of voices leads to better discussions, decisions, and outcomes for everyone. Koya does not discriminate on the basis of race, color, national origin, religion, sex, disability, age, sexual orientation, military status, veteran status, genetic information, gender identity, or any other characteristic protected by applicable federal, state, or local law.
For more information about Koya Partners, visit www.koyapartners.com.