From the Office of Inspector General for the Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau, https://oig.federalreserve.gov/

Transcript for: OIG Report 2024-MO-B-017: The Board Can Strengthen Its Hiring Practices to Help Mitigate Bias and Reinforce Its Commitment to Ensuring a Diverse Workforce
Released: September 25, 2024

>> [OIG logo on white background]
>> [Photo of the front of the Board’s Eccles building] The Board’s mission is to promote a strong economy for the American people.
>> [Drawing of a diverse crowd of people] A diverse workforce brings varied experiences and perspectives, 
>> [Motion graphic of with trend lines increasing over time] which helps the agency successfully meet that mission.
>> [Photo of a line of diverse applicants with resumes in hand.] The agency successfully attracts diverse applicants.
>> [Drawing of a person in front of a row of hurdles] However, several challenges, including barriers to implementing hiring best practices—such as removing identifying information from résumés—and a lack of policies and procedures. 
>> [Photo from top view of handshake; all white hands] result in an applicant pool that becomes less diverse in the later stages of the hiring cycle.  
>> [Photo of a business person pressing a compliance button on a virtual screen] Developing and implementing comprehensive guidance, policies, and controls can help reduce bias and inconsistent hiring practices,
>> [Cartoon of business person’s hands holding a bullseye with arrow, illustrating aiming business target accurately.] helping the Board successfully meet its mission.
>> [Image of report cover page] Find out more in our full report.
>> [OIG logo on white background]