OMWI Office 2012 Ratings

Creative Investment Research, Inc. released a report containing ratings for each of 29  new Offices of Women and Minority Inclusion. Section 342  of the Dodd-Frank Wall Street Reform and Consumer Protection Act contains a “provision creating an Office of Minority and Women Inclusion at various agencies to monitor the diversity efforts of the agencies, regulated entities and agency contractors.” 

As one analyst noted, “In addition to developing standards for and monitoring the employment diversity of the respective agency, the OMWI will have authority over the entities regulated by the agency and contractors providing services to the agencies.” Service providers covered by the Section include “financial institutions, investment banking firms, mortgage banking firms, asset management firms, brokers, dealers, financial services entities, underwriters, accountants, investment consultants, and providers of legal services.” 

The ratings, completed from survey and other data, use the firm's proprietary Fully Adjusted Return (TM) Methodology to rank the offices based on three factors:

1. Internal agency diversity efforts;
2. Progress made in preparing to rate the diversity efforts of regulated entities;
and 
3. Progress made in preparing to rate the diversity efforts agency contractors. 

Our summary ratings for the best and worst OMWI Offices in each factor area are listed below.

Best:
1. Internal diversity effort: Federal Deposit Insurance Corporation (FDIC)
2. Diversity Efforts of Regulated Entities: Federal Housing Finance Agency (FHFA)
3. Diversity Efforts of Contractors:  Federal Reserve Bank of Minneapolis

Worst:
1. Internal diversity effort: Securities and Exchange Commission (SEC)
2. Diversity Efforts of Regulated Entities: Federal Reserve Board of Governors
3. Diversity Efforts of Contractors: Federal Reserve Bank of New York

For more information, or to purchase a copy of our report, please contact us at info@creativeinvest.com.