Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress i

Table of Contents

INTRODUCTION 1

FDIC CONTRACTING —

Inclusion of Minority- and Women-Owned Businesses (MWOBs) 5

EMPLOYMENT AT THE FDIC —

Increasing Representation of Minorities and Women 21

OTHER ACTIVITIES 29

CONCLUSION 39

APPENDICES 41
ii Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 1

INTRODUCTION

Under the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection 

Act (DFA) section 342, the Federal Deposit Insurance Corporation (FDIC) Office of 

Minority and Women Inclusion (OMWI) is required to submit to Congress an annual 

report regarding the actions taken by the agency toward hiring qualified minority 

and women employees and contracting with qualified minority- and women-owned 

businesses. 

The FDIC is pleased to submit this 2017 Report to Congress. The report describes 

the FDIC’s activities relating to the inclusion of minorities and women in contracting 

and hiring for the year, as well as other relevant information, including the agency’s 

activities supporting financial access, economic inclusion, and financial literacy. 

Consistent with the provisions of section 342 of the DFA, the FDIC continues to 

enhance its long-standing commitment to promote diversity and inclusion in 

employment opportunities and all business areas of the FDIC. This report outlines both 

successes and challenges in contracting and hiring as the agency works to ensure that 

these efforts are reflected in its operations.
2 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

INTRODUCTION

Commitment to Diversity and Inclusion

The mission of the FDIC is to preserve and promote public confidence in the 

U.S. financial system by insuring deposits, examining and supervising financial 

institutions for safety and soundness and consumer protection, making large and 

complex financial institutions resolvable, and managing receiverships. In 1999, the 

FDIC published its first Diversity Strategic Plan, which outlined its commitment to 

recruiting and retaining the most qualified, talented, and motivated employees in the 

labor market. OMWI is an important component in these efforts and supports the 

FDIC’s mission through the pursuit of equal employment opportunity, affirmative 

employment initiatives, diversity and inclusion, and outreach efforts to ensure the fair 

inclusion and utilization of minority- and women-owned businesses, law firms, and 

investors in contracting and investment opportunities.

In 2012, the FDIC Chairman established performance goals to update the Diversity 

Strategic Plan and asked each division and major office to develop strategic plans that 

identify steps to promote increased diversity through the FDIC’s recruiting and hiring 

processes. Since 2013, the FDIC has annually updated the Diversity and Inclusion 

Strategic Plan to ensure the plan remains current and relevant. The Diversity and 

Inclusion Strategic Plan was updated in 2016 to continue the FDIC’s efforts in this 

important area and to address the FDIC’s goals to develop and implement a more 

comprehensive, integrated, and strategic focus on diversity and inclusion. The 2017 

Diversity and Inclusion Strategic Plan was disseminated to the FDIC workforce and 

posted externally to the public on www.fdic.gov.

The Diversity and Inclusion Strategic Plan continues to outline a course for promoting 

workforce diversity by recruiting from a diverse, qualified group of potential 

applicants, and cultivating workplace inclusion through collaboration, flexibility, and 

fairness. The plan also ensures the sustainability of the FDIC’s diversity and inclusion 

efforts by equipping leaders with the ability to manage diversity, monitor results, and 

refine approaches on the basis of actionable data. There are specific steps outlined in 

the plan that continue to enhance diversity and inclusion at the FDIC in the areas of 

leadership engagement, analytics and reporting, training, communications, strategic 

planning, and program enhancement. 

When the FDIC Board of Directors created OMWI in 2011, the Board also established an 

OMWI Steering Committee to ensure and promote coordination of OMWI programs. 

In 2013, the OMWI Steering Committee was renamed the FDIC Diversity and Inclusion 

Executive Advisory Council (EAC). The EAC is chaired by the FDIC Deputy to the 

Chairman and Chief Operating Officer/Chief of Staff and includes the OMWI Director, 

FDIC division and office directors, and other key FDIC senior staff. The EAC provides 

leadership on diversity and inclusion initiatives throughout the FDIC. The EAC also 

reviews the Diversity and Inclusion Strategic Plan annually, and updates it as needed 

to improve the agency’s efforts in promoting diversity and inclusion on an ongoing 

basis.
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 3

INTRODUCTION

2017 Diversity and Inclusion Initiatives

Annually, the FDIC Chairman issues a number of performance goals designed to 

further promote diversity, inclusion, and equal employment opportunity at the 

agency. One of these goals required the agency’s division and major office directors to 

develop customized strategic plans for their organizations to identify steps to promote 

increased diversity throughout the FDIC. Again in 2017, each division and major office 

assessed available workforce data and produced plans with strategies to further their 

diversity progress and address noted issues. The division and office level plans were 

consolidated into an FDIC Plan to Promote Increased Diversity through Division/Office 

Engagement and have been integrated into the agency’s annual strategic planning 

efforts. In May 2017, the progress made by divisions and major offices was reported 

and discussed at the monthly EAC meeting. This process keeps the division and major 

offices engaged in the FDIC’s diversity and inclusion efforts and will continue in 2018. 

The FDIC is committed to continually providing all employees with a work environment 

that promotes excellence and acknowledges and honors the diversity of its employees. 

The Diversity and Inclusion Strategic Plan was revised during 2017 and will be 

disseminated to the FDIC workforce and posted on the FDIC website in 2018. The 

revised Diversity and Inclusion Strategic Plan is designed to continue the FDIC’s 

success in ensuring all employees are valued members of the workplace and active 

participants in carrying out the FDIC mission.

In recognition of the FDIC’s 2017 diversity and inclusion progress, the following 

initiatives are highlighted: 

§ The FDIC supported the establishment of an additional Employee Resource 

Group, the Corporate Advocacy Network for Disability Opportunities (CAN DO), 

and continued to support and encourage collaboration with the five existing ERGs: 

Veterans Employee Resource Group; Emerging Leaders; Hispanic Organization for 

Leadership and Advancement; PRIDE; and Partnership of Women in the Workplace. 

ERGs are networks of FDIC employees with similar interests.

§ OMWI awarded a contract to provide diversity and inclusion training for employees 

in an online environment. OMWI continued administering manager and supervisor 

training on equal employment opportunity and diversity and inclusion, the No FEAR 

Act biennial training, and a webinar on retaliation. 
4 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

INTRODUCTION

§ The FDIC continued to implement innovative procurement strategies on several

contracts to foster increased minority- and women-owned business participation

in contracting opportunities.

§ The FDIC’s Workplace Excellence (WE) program, composed of a national WE

Steering Committee and division/office WE Councils, continued the focus on

maintaining, enhancing and institutionalizing a positive workplace environment

throughout the agency. OMWI worked closely with WE to develop and provide

recommendations related to fairness, diversity and inclusion, to include:

Conducting and presenting a trend analysis of Federal Employee Viewpoint 

Survey results and trends delineated by FDIC dimension and minority, gender, 

ethnicity, and disability status; and

Participating in a joint Fairness, Diversity and Inclusion Working Group composed 

of WE Steering Committee, Council, and Chairman’s Diversity Advisory Council 

members to conduct focus groups and further evaluate available information in 

an effort to better understand how employees in different demographic groups 

view the FDIC workplace.

§ The FDIC continued to develop and implement the Workforce Development

Initiative (WDI) designed to address comprehensive succession planning needs

and workforce development challenges and opportunities, and to develop future

FDIC leaders. As a part of the initiative, OMWI:

Continued to track succession planning review results by race, ethnicity, and

gender – and provide the results to WDI program management; 

Provided guidance as needed about potential diversity and inclusion issues in

other WDI programs (e.g., career paths, external details, learning, development

and training, leadership mentoring, administrative career paths; manager

rotations, and onboarding); and,

 Expanded the succession planning review to additional grade levels.
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 5

FDIC CONTRACTING

Inclusion of Minority-and Women-Owned 

Businesses (MWOBs) 

The FDIC places a high priority on achieving diversity in contracting and asset sales, 

and OMWI is an integral part of the contractor solicitation, education, and evaluation 

process. During 2017, the FDIC implemented new contracting initiatives and conducted 

focused outreach which improved MWOB participation in its contracting activities. 

However, the FDIC continued to face challenges in increasing the utilization and growth 

rates for MWOB contractors because new contract awards by the FDIC have been 

declining since the height of the financial crisis and non-financial goods and services 

contracts for recurring needs represent a larger percentage of FDIC contracts. The 

FDIC will analyze future contracting needs to determine where MWOB opportunities 

may exist and if new procurement strategies can be used to maximize MWOB 

participation. The following sections provide detailed information on the agency’s 2017 

contracting activities and successes; contracting initiatives, programs, and outreach; 

and challenges the FDIC faces in increasing MWOB participation in its contracting 

activities.
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FDIC CONTRACTING: Inclusion of Minority- and Women-Owned Businesses (MWOBs)

Contracting Activities and Successes 

FDIC Procurement Policies

The FDIC’s contracts are typically awarded through a competitive, best-value 

solicitation process that involves consideration of both the offeror’s technical and price 

proposals. The solicitations describe what offerors must include in their proposals 

and the proposal evaluation criteria specific to the good or service being procured. 

Proposals are evaluated and rated by a panel of FDIC subject matter experts and 

include an OMWI representative. Awards are made to the offeror that provides the 

best value to the FDIC. 

For any contract over $100,000, OMWI review is required to identify competitive 

minority- and women-owned businesses to include in contract solicitations. As part 

of this process, OMWI uses the FDIC’s Contractor Resource List (CRL) that includes 

registered MWOBs. The CRL is the principal database for vendors interested in doing 

business with the FDIC. OMWI also identifies qualified MWOBs through the System 

for Award Management and the Minority Business Development Agency. This process 

helps ensure that a diverse pool of contractors is solicited and considered for each 

major contract.

The FDIC’s website1

 provides information, announcements, and technical assistance 

for minority- and women-owned businesses, law firms, and investors seeking to 

do business with the FDIC. The FDIC also has a small business resource page that 

contains more than 40 learning modules2 and is a technical assistance aid and selfassessment for businesses interested in competing for contract opportunities.

Contract Payments to MWOBs

The FDIC paid $414.0 million to contractors in 2017 under 1,537 contracts, of which 

$109.6 million (26.5 percent) was paid to MWOBs under 354 contracts. [See Figure 

1.] By comparison, the FDIC paid $415.2 million to contractors under 1,786 contracts 

in 2016; $507.2 million to contractors under 2,029 contracts in 2015; $491.6 million to 

contractors under 1,962 contracts in 2014; and $553.7 million to contractors under 

1,982 contracts in 2013. The 2017 total payments (i.e., spend) to contractors included 

payments for contracts awarded in 2017 and payments for active contracts awarded 

prior to 2017.

1 See www.fdic.gov/mwop

2 See www.fdic.gov/about/diversity/sbrp/index.html.
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 7

FDIC CONTRACTING: Inclusion of Minority- and Women-Owned Businesses (MWOBs)

Figure 1 Contracting Payments (in millions)

2013 2014 2015 2016 2017

Total $553.7 $491.6 $507.2 $415.2 $414.0

100% 100% 100% 100% 100%

MWOB $140.6 $128.2 $142.5 $111.5 $109.6

25.4% 26.1% 28.1% 26.8% 26.5%

Minority Owned (MO) $102.9 $89.3 $89.3 $56.0 $54.6

18.6% 18.2% 17.6% 13.5% 13.2%

Women Owned (WO) $63.7 $63.6 $83.2 $66.8 $66.9

11.5% 12.9% 16.4% 16.1% 16.2%

Overlap (Both MO & WO) $26.0 $24.7 $30.0 $11.3 $11.9

4.7% 5.0% 5.9% 2.8% 2.9%

Asian American $50.3 $38.5 $39.9 $33.5 $30.1

9.1% 7.9% 7.9% 8.1% 7.2%

Black American $19.8 $15.9 $13.3 $11.5 $14.2

3.6% 3.2% 2.6% 2.8% 3.4%

Hispanic American $26.0 $26.7 $25.1 $10.3 $9.5

4.7% 5.4% 5.0% 2.5% 2.3%

Native American $1.2 $0.3 $0.1 $0.1 $0.2

0.2% 0.1% 0.0% 0.0% 0.1%

For purposes of contract payment information, the FDIC considers an active contract 

one in which payments were made or credits applied in 2017. In 2017, minority-owned 

firms were paid $ 54.6 million of the total dollars paid to contractors (13.2 percent). 

Women-owned firms were paid $66.9 million of the total dollars paid to contractors 

(16.2 percent). These two categories – minorities and women – are not mutually 

exclusive since $11.9 million (2.9 percent) was paid in 2017 to businesses classified as 

both minority-owned and women-owned. By contrast, the FDIC paid MWOBs $111.5 

million (26.8 percent) of the total paid to all contractors in 2016 under 461 contracts; 

$142.5 million (28.1 percent) of the total paid to all contractors in 2015 under 591 

contracts; $128.2 million (26.1 percent) to MWOBs in 2014 under 533 contracts; and 
8 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

FDIC CONTRACTING: Inclusion of Minority- and Women-Owned Businesses (MWOBs)

$140.6 million (25.4 percent) to MWOBs in 2013 under 608 contracts.

In 2017, the FDIC awarded 210 contracts to MWOBs out of a total of 737 issued (28.5 

percent). [See Figure 2.] By comparison, the FDIC awarded 287 contracts (24.3 percent) 

to MWOBs out of a total of 1,181 issued in 2016; 346 contracts (29.9 percent) to MWOBs 

out of a total of 1,159 issued in 2015; 288 contracts (26.9 percent) to MWOBs out of a 

total of 1,072 issued in 2014; and 282 contracts (28.3 percent) to MWOBs out of a total 

of 995 issued in 2013.

Figure 2 Contracting Actions

2013 2014 2015 2016 2017

Total 995 1072 1159 1181 737

100% 100% 100% 100% 100%

MWOB 282 288 346 287 210

28.3% 26.9% 29.9% 24.3% 28.5%

Minority Owned (MO) 161 170 148 142 100

16.2% 15.9% 12.8% 12.0% 13.6%

Women Owned (WO) 162 167 243 187 151

16.3% 15.6% 21.0% 15.8% 20.5%

Overlap (Both MO & WO) 41 49 45 42 41

4.1% 4.6% 3.9% 3.5% 5.6%

Asian American 39 54 56 62 63

3.9% 5.1% 4.8% 5.2% 8.6%

Black American 50 45 35 24 22

5.0% 4.2% 3.0% 2.0% 3.0%

Hispanic American 61 59 39 48 4

6.2% 5.5% 3.4% 4.1% 0.5%

Native American 0 2 1 2 7

0.0% 0.2% 0.1% 0.2% 1.0%

Other 11 10 17 6 4

1.1% 0.9% 1.5% 0.5% 0.5%

As of December 31, 2017, the FDIC had 269 (17.3 percent) active contracts with MWOBs 

out of a total of 1,552 active contracts. The active contracts to MWOB firms by 

category were as follows: Asian American (87), Black American (41), Hispanic American 

(20), Native American (8), and Women (162). These include contracts awarded to firms 

that were both minority-owned and women-owned.
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 9

FDIC CONTRACTING: Inclusion of Minority- and Women-Owned Businesses (MWOBs)

Contract Awards to MWOBs

The FDIC awarded contracts with a combined value of $523.7 million in 2017, of 

which $96.7 million (18.5 percent) were awarded to MWOBs. By comparison, the FDIC 

awarded contracts with a combined value of $508.8 million in 2016, with $93.9 million 

(18.5 percent) awarded to MWOBs; awarded $858.4 million in 2015, with $211.6 million 

(24.7 percent) awarded to MWOBs; awarded contracts with a combined value of $686.8 

million in 2014, with $239.9 million (34.9 percent) awarded to MWOBs; and awarded 

contracts with a combined value of $572.8 million in 2013, with $198.7 million (34.7 

percent) awarded to MWOBs. [See Figure 3.] 

Figure 3 Total Contract Dollar Awards

2013 2014 2015 2016 2017

Total $572.8 $686.8 $858.4 $508.8 $523.7

100% 100% 100% 100% 100%

MWOB $198.7 $239.9 $211.6 $93.9 $96.7

34.7% 34.9% 24.7% 18.5% 18.5%

Minority Owned (MO) $158.5 $143.7 $145.2 $56.5 $66.7

27.7% 20.9% 16.9% 11.1% 12.7%

Women Owned (WO) $66.1 $132.6 $104.2 $47.4 $46.2

11.5% 19.3% 12.1% 9.3% 8.8%

Overlap (Both MO & WO) $25.9 $36.4 $37.8 $10.0 $16.2

4.5% 5.3% 4.3% 1.9% 3.0%

Asian American $38.0 $27.1 $51.8 $25.0 $31.2

6.7% 4.0% 6.0% 4.9% 6.0%

Black American $32.2 $21.3 $30.7 $9.4 $32.7

5.6% 3.1% 3.6% 1.9% 6.2%

Hispanic American $85.3 $66.1 $43.2 $20.6 $1.6

14.9% 9.6% 5.0% 4.0% 0.3%

Native American $ - $ 0.8 $ - $0.1 $0.9

0.0% 0.1% 0.0% 0.0% 0.2%

Other $3.0 $28.4 $19.5 $1.4 $0.3

0.5% 4.1% 2.3% 0.3% 0.0%

The FDIC’s five-year trend from 2013-2017 of contract awards and payments can be 

found at Appendix A.
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FDIC CONTRACTING: Inclusion of Minority- and Women-Owned Businesses (MWOBs)

Contract Awards by North American Industry Classification System

The North American Industry Classification System (NAICS) was developed by 

the Office of Management and Budget (OMB) and is the standard used by federal 

statistical agencies in classifying business establishments for the purpose of 

collecting, analyzing, and publishing statistical data related to the U.S. business 

economy. The FDIC awarded contracts in 2017 under 62 different NAICS codes. Figure 

4 depicts the distribution of the FDIC’s 2017 contracts categorized for the top ten 

NAICS codes.

In 2017, these awards consisted of the following: 31 percent for office administrative 

services; 16 percent for other computer related services; 13 percent for administrative 

management and general management consulting services; and 10 percent for 

direct life insurance carriers. The remaining 30 percent – each six percent or under 

– were awarded in the areas of data processing, hosting, and related services (six

percent); facilities support services (six percent); investigation services (five percent);

environmental consulting services (five percent); used household and office goods

moving (four percent); and residential property managers (four percent). Collectively,

13.6 percent of the top ten NAICS code contracts were awarded to MWOBs.

[See Figure 5.]

Figure 4 FDIC 2017 Contracts by Top Ten NAICS Codes

Other Computer Related Services

541519

16% 

Residential Property Managers

531311

4% 

Ofce Administrative Services

561110 

31%

Facilities Support Services

561210 

6% 

Environmental Consulting Services

541620

5% Investigation Services

561611

5% 

Data Processing, Hosting, and

Related Services

518210

6% 

Direct Life Insurance Carriers

524113

10% 

Administrative Management and

General Management Consulting

Services

541611

13%

Used Household and Ofce Goods Moving

484210

4% 
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 11

FDIC CONTRACTING: Inclusion of Minority- and Women-Owned Businesses (MWOBs)

The 2017 FDIC contract awards associated with the top ten NAICS codes can be found 

in Appendix B.

Referrals to Law Firms

Referrals to law firms are typically made on a competitive basis. Price, expertise, 

capacity, and status are among the criteria considered in making the selections. The 

FDIC made 363 referrals to outside counsel in 2017, of which 67 (18.0 percent) were 

minority- and women-owned law firms (MWOLFs), compared to a total of 342 referrals, 

of which 151 (44.2 percent) were to MWOLFs in 2016. Referrals to MWOLFs in 2017, by 

category, were as follows: Black American – 17(5.0 percent), Hispanic American – 26 

(7 percent), Native American – 1 (<1 percent), Asian American – 1 (<1 percent), and 

Women – 22 (6 percent). [See Figure 6]

Figure 5 2017 Contract Awards by Top 10 NAICS Codes

Non-MWOB

86.4% 

MWOB

13.6% 

Figure 6 2017 Referrals

Women

6%

Hispanic American

7%

Non-MWOLF

64% Non-Reported

18%

Black American

5% 
12 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

FDIC CONTRACTING: Inclusion of Minority- and Women-Owned Businesses (MWOBs)

The FDIC paid $61.5 million to outside counsel in 2017, as compared to $76.8 million in 

2016. [See Figure 7.] The FDIC paid $6.5 million to MWOLFs in 2017, which represents 

10.6 percent of the total paid to all law firms. This percentage is below that of 2016, 

during which the FDIC paid a total of $11.1 million to MWOLFs, which was 14.5 percent 

of the total paid to all law firms that year. 

As noted above, there was a decline in referrals to outside counsel in 2017. Bank 

resolution activities, which are a major source of outside counsel work, decreased 

from 2016 to 2017. This decrease is consistent with the overall decline in FDIC fees 

spent on outside counsel since the peak levels in 2013. The FDIC remains committed to 

seeking ways to increase the level of referrals to MWOLFs in 2018. 

Outreach to MWOLFs 

Anticipating a decline in legal referrals in 2017, the Legal Division tailored its outreach 

strategy to focus on the substantive areas of the FDIC’s legal work that posed the 

greatest opportunities for MWOLF participation. The most important source of legal 

contracting opportunities lies with the FDIC in house counsel. To that end, the Legal 

Division continued to work closely with in-house attorneys in areas that account for a 

substantial dollar amount of legal referrals. The Legal Division continued to emphasize 

the importance of diverse staffing of legal contracts. For example, the Legal Division 

held an MWOLF Outreach Workshop in the Dallas Regional Office for those in house 

FDIC attorneys who assign work to outside counsel. The purpose of the workshop 

was to highlight the importance the Dallas Regional Office referrals are to MWOLFs 

in enhancing participation in legal contracting. The event included a roundtable 

discussion about successes and challenges in the use of MWOLF firms.

Figure 7 Payments to Law Firms (Dollars in Millions)

16.5 15.3 11.7 11.1 6.5 

113.8 

105.6 86.7 

65.7 

55.0 

0

20

40

60

80

100

120

140

2013 2014 2015 2016 2017

130.3

120.9

76.8

61.5

98.4

MWOLFs Non-MWOLFs
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 13

FDIC CONTRACTING: Inclusion of Minority- and Women-Owned Businesses (MWOBs)

Another critical element of the Legal Division MWOLF outreach is the FDIC’s 

partnerships with minority bar associations and stakeholder organizations. In 2017, 

Legal Division staff attended seven bar association conferences as well as, two 

stakeholder events sponsored by the National Association of Minority and Women 

Owned Law Firms (NAMWOLF) in support of maximizing MWOLF participation in FDIC 

legal contracting. At many of these events, the Legal Division counsels MWOLFs on 

how those firms can make strategic decisions in their pursuit of FDIC legal work, and 

works with other large corporate clients. At one stakeholder event, the Legal Division 

participated in a panel designed to teach MWOLF firms how to make presentations to 

prospective clients. Also, in September 2017, the Legal Division as well as the Acting 

Director, OMWI, attended the National NAMWOLF annual meeting where NAMWOLF 

awarded the Legal Division its prestigious Diversity Initiative Achievement Award 

recognizing the FDIC’s long-term efforts in maximizing the participation of MWOLFs in 

legal contracting. The FDIC was selected from five finalists, including JPMorgan Chase, 

Shell, and Walmart – all Fortune 500 companies. 

Pursuant to Section 342 of the Dodd-Frank Act, which requires an assessment of 

legal contractors’ internal workforce diversity practices, the Legal Division refined 

and continued to implement a system of compliance reviews of the top ten billing 

law firms (both majority-owned and MWOLFs). This program provides the Legal 

Division another means to address diversity and inclusion and provides opportunities 

for women and minority attorneys seeking to provide services. These on-site visits 

are designed to engage firms in discussions about best practices, diversity staffing 

concepts, metrics and the FDIC’s MWOLF program. The results continue to be positive. 

The Legal Division collected baseline diversity metrics, reviewed best practices on 

staffing of client matters, and reached a commitment with various firms to increase 

diversity concerning FDIC activities.

In addition to the outreach efforts noted above, the Legal Division continues to 

provide technical assistance to the National Association of Credit Unions and other 

related government agencies on developing MWOLF outreach programs that mirror 

FDIC’s program. The Legal Division evaluated and approved nine (9) new MWOLF 

applications in 2017. Firms from various geographic areas were added to the FDIC List 

of Counsel Available in order to be eligible to receive legal contracting work.

Contracting Initiatives, Programs and Outreach

FDIC awarded 737 new contracts with a combined value of $523.7 million in 2017. 

These totals represent the fewest number of awarded contracts by the FDIC since 

2008, and the second lowest total contract dollars awarded since 2007. As stated in 

prior year reports, the FDIC annual contract awards and total contract dollars awarded 

have fallen since the height of the financial crisis due to a significant reduction in 

annual bank failures. During the financial crisis, contracts related to services required 
14 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

FDIC CONTRACTING: Inclusion of Minority- and Women-Owned Businesses (MWOBs)

to resolve failed banks represented up to 85 percent of all FDIC contract dollars 

awarded in a given year. In 2017, only 33.5 percent of FDIC total contract dollars 

awarded supported the FDIC’s Division of Resolutions and Receiverships in their 

mission to resolve failed banks.

As a result, the FDIC continued to identify contracting opportunities for MWOBs in 

non-financial goods and services requirements. For example, contracts were awarded 

to MWOBs in the following areas: IT software development and maintenance services; 

IT security services; IT hardware and software licenses; training services; contracting 

support services; leadership and mentoring services; facilities management services; 

physical security support services; translation services; and audit services.

However, despite the continuation of fewer annual bank failures since the height of the 

financial crisis, the FDIC continued to include MWOBs in the procurement process for 

the financial services contract opportunities that arose. Several of the contracts used 

to perform failed bank resolution services during the financial crisis expired in 2017. 

The FDIC’s strategy is to re-bid these contracts as they expire to ensure contractor 

resources are in place when needs arise. MWOB contractors were instrumental to the 

FDIC’s success during the financial crisis. As a result, the FDIC focused on ensuring 

continued MWOB participation in the re-competition of these expiring contracts. 

MWOB firms were awarded new contracts in 2017 for mortgage servicing rights 

services, financial advisory services for complex securities, and temporary staffing 

services. Additional existing failed bank resolution contracts will expire in 2018 and 

beyond. The FDIC will continue to look for opportunities to include MWOBs in the recompetition of these mission critical services. 

Lastly, FDIC continued to discuss procurement strategies and MWOB contracting 

issues at monthly EAC meetings attended by senior managers from FDIC divisions 

and offices. The FDIC also continued to implement the recommendation to hold 

pre-proposal conferences to ensure businesses understand the FDIC’s requirements 

before a solicitation is issued and to give smaller businesses opportunities to find 

partners and develop teams before submitting bids.

Information Technology Contracting

The FDIC recognized in 2012 that the declining number of bank failures would result in 

a significant shift in new contract award opportunities from bank resolution contracts 

to contracts for daily operations (e.g., IT software development and maintenance, 

facilities management, etc.). The FDIC conducted focused market research in 2012 

to ensure significant MWOB participation in the then upcoming $546.8 million 

competitive Basic Ordering Agreement (BOA) for the second generation Information 

Technology Application Services (ITAS II) contract. This focused market research led 

to six MWOB firms being awarded an ITAS II BOA out of 11 total firms awarded the 
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 15

FDIC CONTRACTING: Inclusion of Minority- and Women-Owned Businesses (MWOBs)

BOA (55 percent). The six BOA awards to MWOBs represented a significant increase 

in MWOB awards from the ITAS I BOA where only one MWOB firm was awarded the 

BOA out of four total firms (25 percent). In 2016, the FDIC conducted a competition to 

add additional firms to the ITAS II BOA to increase the number of vendors under the 

contract. Once again, significant market research was conducted to ensure MWOB 

participation in the competitive process. The end result was three additional firms 

were added to the ITAS II BOA with two of the firms being MWOB firms. This increased 

the total number of firms under the ITAS II BOA from 11 to 14 and the total number 

of MWOB firms under the ITAS II BOA from six to eight. As a result, the percentage 

of MWOB firms under the BOA increased from 55 to 57 percent. The assignment of 

work to contractors under the ITAS II BOA is accomplished through the award of task 

orders that are competed among the contractors awarded the BOA. A significant 

number of multi-year task order awards were made under ITAS II between 2013 and 

2015 resulting in fewer requirements for new task orders in 2017. However, three of the 

six new task orders awarded in 2017 under ITAS II were awarded to MWOB firms with 

a combined value of $2.6 million. This represented 50 percent of the total task orders 

awarded in 2017 and 46.5 percent of the total dollars awarded under ITAS II during 

2017. 

ITAS II is not the only contract that supports the FDIC’s Information Technology 

program. One of the three BOAs awarded in 2017 under the FDIC’s $4 million cyber 

security support services program was awarded to an MWOB firm. In addition, two 

new contracts with a combined value of $964,180 were awarded to MWOBs in 2017 

to provide Enterprise File Integrity Manager Support and IT services for a legal hold 

project.

Lastly, the FDIC also recognizes that IT hardware and software can often be provided 

by resellers certified by the manufacturer or by MWOB manufacturers. As a result, 

the FDIC continued with the strategic decision to solicit MWOBs for hardware and 

software purchases when possible. This strategy resulted in 78 contract awards to 

MWOBs with a combined value of $15.0 million. 

Facilities Management and Security Support Services

Significant awards to MWOBs in facilities management and security support services 

included contracts valued at $18 million for physical security support services; $1.5 

million for janitorial services; $49,676 for davit repair services; $44,900 for electrical 

maintenance services; $41,263 for hardware; and $24,700 for lease audit services.

In addition, the FDIC continued to provide opportunities to MWOBs for both new and 

replacement furniture. In total, four contracts with a combined value of $596,425 were 

awarded to MWOBs to provide furniture for FDIC locations nationwide.
16 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

FDIC CONTRACTING: Inclusion of Minority- and Women-Owned Businesses (MWOBs)

Human Resources Management

A $323,937 contract to provide important leadership training, mentoring training, and 

program support services was awarded to an MWOB in 2017. 

Contracting Support Services

A $556,418 contract was awarded to an MWOB firm to provide and maintain the 

Contractor Resource List (CRL) system. The CRL is an on-line tool where vendors 

provide information on the types of goods and services they offer, and it is used by 

FDIC staff to identify potential sources for competitive procurements.

Bank Resolution Contracts

There were only eight bank failures of financial institutions in 2017, which was far 

below the annual number of bank failures that occurred during the financial crisis 

between 2008 and 2013 when failures ranged from 24 to 157 per year. However, there 

are still hundreds of active failed bank receiverships from prior year failures. The 

FDIC continued to award contracts to MWOBs to provide required services to resolve 

new 2017 bank failures and to support on-going work required from prior year bank 

failures. In 2017, 105 contracts with a combined value of $55.0 million were awarded 

to MWOBs to provide the required financial services to assist the FDIC in resolving 

failed banks. Contracts awarded to MWOBs included, but were not limited to, financial 

and management reporting services; IT development services; independent thirdparty security assessment services; mortgage servicing rights services; financial 

advisory services for complex securities; temporary staffing services; profit sharing 

plan audit services; receivership assistance services; loss share agreement monitoring 

services; asset valuation services; appraisal management services; environmental 

support services; tax return preparation services; accounting services; and translation/

transcreation/interpreter services. Of note was a procurement strategy change for the 

re-bid of the IT development, financial management, and reporting services contract. 

Previously these services were provided by a single contract. In order to increase 

competition and opportunities for MWOB firms to participate, the FDIC split these 

services and re-bid them as two stand-alone contracts. Both new contracts were 

awarded to MWOBs.

Other Significant MWOB Contract Awards

Recognizing the need to expand MWOB contract awards beyond services for bank 

resolutions, information technology, human resources, and facilities management, the 

FDIC looked for MWOB opportunities in other program areas. The FDIC’s Corporate 

University awarded three contracts with a combined value of $1.1 million to MWOB 
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 17

FDIC CONTRACTING: Inclusion of Minority- and Women-Owned Businesses (MWOBs)

firms to provide training to FDIC employees on a variety of subjects. The FDIC’s 

Division of Depositor and Consumer Protection awarded a contract with a value of 

$509,136 to an MWOB firm to provide Money Smart computer based training services, 

and a $275,000 contract to an MWOB firm to provide translation/transcreation/

interpreter services. The Office of Minority and Women Inclusion awarded a $66,175 

contract to an MWOB firm to provide diversity and inclusion training.

Outreach to MWOBs 

In 2017, the FDIC participated in a combined total of 35 business expos, one-on-one 

matchmaking sessions, and panel presentations. At these events, the FDIC staff 

provided information and responded to inquiries regarding the FDIC’s business 

opportunities for minorities and women. In addition to targeting MWOBs, Minority and 

Women Owned Investors, and MWOLFs, these efforts also targeted veteran-owned 

and small disadvantaged businesses. Vendors were also encouraged to register 

through the FDIC’s CRL.

OMWI co-hosted two Technical Assistance Events with the Office of the Comptroller 

of the Currency (OCC) and the National Credit Union Administration (NCUA). The 

Cybersecurity Awareness and Preparedness for Your Business event discussed 

cybersecurity intrusions in small businesses and what to do when a business is 

compromised. Cybersecurity requirements for financial institutions were discussed as 

well as vendors’ expectations and requirements. One-hundred five (105) individuals 

attended the event. 

The FDIC, NCUA, and OCC in collaboration with the Virginia Procurement Technical 

Assistance Program hosted the Proposal to Pricing – Developing a Winning Strategy 

technical assistance event. The presenters shared information on developing winning 

proposals and pricing strategies. The sponsoring agencies and various procurement 

trade organizations also exhibited at the event. One-hundred thirty-five (135) 

individuals attended the event.
18 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

FDIC CONTRACTING: Inclusion of Minority- and Women-Owned Businesses (MWOBs)

FDIC Asset Sales

During 2017, OMWI and the Division of Resolutions and Receiverships (DRR) 

collaborated to present two FDIC-sponsored asset purchaser workshops that were 

marketed extensively to minority- and women-owned investors and companies 

interested in learning about DRR’s sales processes. DRR speakers with strong 

backgrounds in their respective programs provided details on the various tools used 

by DRR to market assets and presented information to attendees on how to participate 

in the transactions and bid on assets offered for sale.

The outreach events were held in 2017, in New Orleans, Louisiana to support asset 

sales resulting from the failure of First NBC Bank. The first event was an investor 

workshop which included discussions of cash loan sales, structured transactions, 

real estate liquidations and other forms of FDIC dispositions. The investor workshop 

attracted 104 attendees.

The second event was conducted by Owned Real Estate (ORE) staff and was targeted 

to first-time homebuyers, tenants occupying non-owner occupied ORE, and other 

prospective purchasers of ORE in the New Orleans area. Housing counselors and 

lenders specialized in lower-priced home loans were available to help the 79 event 

attendees. Information regarding the Minority and Women Outreach Program can be 

found on the FDIC’s website at www.fdic.gov/mwop.

The FDIC’s Homeownership Outreach Workshop focused on attendees receiving 

information on how and why the FDIC acquires properties, the types of properties, 

and where the properties are listed. At the conclusion of the workshop, the agency 

hosted a Housing Fair session where attendees met with representatives of financial 

institutions and non-profit organizations.

Challenges 

As noted, the FDIC’s annual number of new contracts awarded and total contract 

dollars awarded has declined significantly since the height of the financial crisis due to 

the significant reduction in the number of bank failures. From 2009 to 2012, the FDIC’s 

annual contract awards ranged between $1 billion and $2.6 billion. The total combined 

value of the FDIC’s 2017 contract awards of $523.7 million represents the second 

lowest combined total of new contract dollars awarded since 2007. The 737 new 

contracts awarded in 2017 represents the fewest number of contract awards by FDIC 

since 2008. Non-financial goods and services contracts for supporting daily operations 

are continuing to represent a larger percentage of the FDIC’s annual contract awards. 

In years when there are few bank failures, these non-financial often recurring goods 

and services contracts represent the majority of FDIC contract awards. Typical contract 
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 19

FDIC CONTRACTING: Inclusion of Minority- and Women-Owned Businesses (MWOBs)

awards for non-financial goods and services (e.g., dental, life, and vision insurance for 

employees; subscription services; office supplies; security guard services; facilities 

management services; and IT services) may range from $300 million to $500 million 

annually. 

With a reduced annual contract award value, large dollar recurring contracts can 

significantly impact the overall contract award value to MWOBs. To demonstrate 

this challenge, the FDIC awarded 737 contracts in 2017. However, four contracts (less 

than one percent of the total new contracts awarded) represented $186.5 million of 

the 2017 total contract dollars awarded (35.6 percent of the total dollars awarded). 

These contracts were for facilities management of the FDIC’s headquarters buildings, 

operation of the FDIC’s headquarters student residence center and cafeterias, 

nationwide employee relocation services, and life insurance services for FDIC 

employees. The FDIC performed extensive market research for these requirements 

to identify MWOB firms, explore alternative strategies for how these services could 

be procured, and determine how the services could be provided to increase MWOB 

participation. Unfortunately, none of these strategies were successful in awarding 

contracts for these services to MWOBs. However, although the percentage of total 

contract dollars awarded to MWOBs in 2017 remained the same as that in 2016, the 

percentage of contracts awarded to MWOBs increased from 24.3 in 2016 to 28.5 in 

2017.

While smaller firms that are not national in scope are capable of providing some of the 

FDIC’s required recurring services, there are significant administrative advantages to 

having fewer contractors provide these services to ensure consistent implementation 

of FDIC programs throughout the FDIC’s 80 plus offices nationwide. 

An additional challenge the FDIC will face is the unknown impact on new contract 

awards that the implementation of updated National Institute of Standards and 

Technology (NIST) security standards will have on future FDIC contracts where 

the FDIC provides confidential, sensitive, or personally identifiable information to 

a contractor who hosts the information on a third party system that is not directly 

owned by the federal government or FDIC. These updated standards include additional 

information technology security controls that are not currently included in FDIC 

contracts. The FDIC will monitor the impact very closely and make adjustments where 

possible.

Despite the decline in the overall contract dollars, the FDIC through its aggressive 

outreach program continues to educate and equip MWOBs with the tools they need to 

compete for contracting opportunities. The FDIC will continue to assess and analyze 

future contracting needs to determine where MWOB opportunities may exist or if new 

methods of service delivery are feasible.
PAGE

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Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 21

EMPLOYMENT AT THE FDIC

Increasing Representation of

Minorities and Women 

The FDIC is strongly committed to diversity and inclusion at all levels of the agency’s 

workforce. The following sections provide information on the agency’s diversity in 

employment and hiring, initiatives to promote diversity in employment, and challenges 

the agency faces in promoting diversity in employment and hiring.

Diversity in Employment and Hiring

As of December 31, 2017, minorities accounted for 28.7 percent (1,748) of the FDIC’s 

total workforce (permanent and non-permanent) of 6,093 employees, and women 

accounted for 44.8 percent (2,730). [See Figure 8.] More specifically, the representation 

percentages in the total workforce for various minority groups at the end of December 

2017 were as follows: 1.3 percent for people of two or more races, 0.5 percent 

American Indian and Alaska Native (AIAN), 5.5 percent Asian American, 17.5 percent 

Black American, and 3.9 percent Hispanic American.
22 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

EMPLOYMENT AT THE FDIC : Increasing Representation of Minorities and Women

The racial, ethnic, and gender diversity of the FDIC’s workforce overall has improved 

slightly since the passage of DFA section 342. Minorities accounted for 26.2 percent of 

the FDIC’s permanent workforce as of July 31, 2010, and 29.0 percent as of December 

31, 2017. The percentage of women in the FDIC’s permanent workforce was 43.6 

percent as of July 31, 2010, and 44.9 percent as of December 31, 2017. [See Appendix 

C.]

As of December 31, 2017, minorities accounted for 18.3 percent (24) of the FDIC’s total 

Executive Manager (EM) workforce of 131 employees, and women accounted for 38.9 

percent (51). [See Figure 9.]

Figure 8 Diversity in Total (Permanent and Non-Permanent) Employment as of 12/31/2017

Minority Non-Minority Total

Number 1748 4345 6093

Percent 28.7 71.3 100

Men Women Total

Number 3363 2730 6093

Percent 55.2 44.8 100

2 or More AIAN Asian Black Hispanic White Total

Number 79 31 333 1069 236 4345 6093

Percent 1.3 0.5 5.5 17.5 3.9 71.3 100

Figure 9 Diversity in Total (Permanent and Non-Permanent)

Employment – Executive Manager Workforce as of 12/31/2017

Minority Non-Minority Total

Number 24 107 131

Percent 18.3 81.7 100

Men Women Total

Number 80 51 131

Percent 61.1 38.9 100

2 or More AIAN Asian Black Hispanic White Total

Number 0 1 2 18 3 107 131

Percent 0.0 0.8 1.5 13.7 2.3 81.7 100
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 23

EMPLOYMENT AT THE FDIC : Increasing Representation of Minorities and Women

Of the FDIC’s total EM workforce, minorities accounted for 15.7 percent as of July 

31, 2010, and 18.3 percent as of December 31, 2017. The percentage of women in 

the FDIC’s EM workforce was 25.0 percent as of July 31, 2010, and 38.9 percent as of 

December 31, 2017. The racial, ethnic, and gender diversity of the EM workforce overall 

has increased since the passage of DFA section 342.

Appendix C depicts the FDIC’s five-year trends for the total, permanent, and EM 

workforce for 2013 through 2017.

Initiatives to Promote Diversity in Employment

The FDIC promotes its commitment to a diverse workforce through a wide variety 

of methods aimed at attracting, recruiting, hiring, and retaining high-performing 

individuals who reflect all segments of society. The recruitment of examiners, the 

FDIC’s largest occupational group, is conducted primarily through the FDIC’s Corporate 

Employee Program (CEP). The CEP recruits and trains the FDIC’s workforce of Financial 

Institution Specialists (FISs), beginning examiners-in-training, in many areas. 

To help with recruitment throughout 2017, OMWI tracked and informed FDIC 

leadership about the representation and attrition rates for CEP participants based on 

race, ethnicity, and gender. Reports on participation rates were prepared following 

each incoming class of CEP hires, and each report included the total CEP participants 

from the inception of the program, FISs currently onboard, and voluntary and 

involuntary attrition information. 

For the years from the inception of the CEP in 2005, several racial, ethnic and gender 

groups, as well as employees with disabilities, had very low representation rates in the 

FDIC’s examiner workforce. To help address these issues, the FDIC has engaged in a 

proactive recruitment effort and used recruiting strategies that have been successful 

in addressing the initially low representation rates of many racial, ethnic, and gender 

groups. That progress is especially apparent with respect to the overall percentage of 

women in the examiner workforce, which increased from 33.5 percent as of December 

31, 2004, to 38.8 percent as of December 31, 2017. In addition, the percentages of Black 

American men and women, Hispanic American women, Asian American men and 

women, American Indian and Alaska Native men, and White women in the overall 

examiner workforce all have increased since the beginning of the CEP. Despite the 

positive progress in those areas, the representation rates of Hispanic American women 

and Asian American men and women, and women of two or more races in the FDIC’s 

examiner workforce remain low.

Also, since the inception of the CEP, hiring rates have been at or above the percentages 

in the Civilian Labor Force (CLF) for American Indian and Alaska Native men and 

women, Black American men and women, and men of two or more races, but lower 
24 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

EMPLOYMENT AT THE FDIC : Increasing Representation of Minorities and Women

than the CLF for Asian American men and women, Hispanic American men and 

women, White women, and women of two or more races. The overall minority hiring 

rate since the inception of the CEP has been 27.6 percent, compared to the CLF of 27.7 

percent; and the overall hiring rate for women is 38.3 percent, compared to the CLF of 

45.3 percent. [See Figure 10.]

Figure 10 CEP Hires Since Inception

2 or More AIAN Asian Black Hispanic White

Total

Women Men Women Men Women Men Women Men Women Men Women Men

CEP 14 17 4 11 36 55 173 112 33 44 434 878 1811

% 0.8 0.9 0.2 0.6 2.0 3.0 9.6 6.2 1.8 2.4 24.0 48.5 100

CLF 1.0 0.6 0.2 0.1 3.7 3.5 8.4 3.4 3.7 3.1 28.3 44.1 100

During 2017, the CEP hiring rates were above the CLF percentages for Asian American 

women, Black American women, and men and women of two or more races, and 

were below the CLF for American Indian and Alaska Native women and men, Asian 

American men, Black American men, and Hispanic American men and women. While 

the hiring rates appear to be normal annual fluctuation in most cases, additional 

targeted recruitment is needed to reach Black American men and Hispanic American 

women and men. [See Figure 11.] The overall hiring rate in 2017 for minorities and 

women was positive with both groups having little statistical disparity from the CLF.

Figure 11 CEP Hires in 2017 (Classes 58 – 62)

2 or More AIAN Asian Black Hispanic White

Total

Women Men Women Men Women Men Women Men Women Men Women Men

CEP 3 2 0 0 7 3 14 2 3 1 35 76 146

% 2.1 1.4 0.0 0.0 4.8 2.1 9.6 1.4 2.1 0.7 24.0 52.1 100

CLF 1.0 0.6 0.2 0.1 3.7 3.5 8.4 3.4 3.7 3.1 28.3 44.1 100

As a significant component of the recruitment strategy for the CEP, FDIC recruiters 

maintained ongoing relationships with a wide range of colleges and universities. 

This includes 110 institutions designated as members of the Hispanic Association 

of Colleges and Universities, Historically Black Colleges and Universities, and other 

minority-serving institutions, tribal colleges and universities, and institutions with 

significant student populations of Asian Americans, Hispanic Americans, and women. 

The FDIC corporate recruiters participated in 152 college career fairs, information 

sessions, and other recruitment-related campus activities throughout the United 

States to brand the FDIC and attract the best qualified candidates. In 2017, FDIC 

recruiters attended 19 national diversity outreach events and one regional outreach 
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 25

EMPLOYMENT AT THE FDIC : Increasing Representation of Minorities and Women

event to increase awareness of the FDIC as an employer of choice to professionals and 

students. Recruitment efforts during 2017 also included the following:

§ Met with key leaders in Hispanic American, Black American, Asian American, 

women’s, and veterans’ organizations to create awareness of FDIC careers and 

identify opportunities to expand outreach to their members.

§ Participated in the 2017 Association of Latino Professionals For America (ALPFA) 

National Convention where a FDIC corporate recruiter hosted a workshop entitled 

Money Management and Wealth Building Skills: College and Beyond to educate 

students on advanced money management skills that will assist them in achieving 

their financial goals.

§ Participated at the Adelante 2017 National Leadership Institute where a senior 

FDIC representative provided the keynote address to participants that focused on 

leadership and career success. A FDIC recruitment representative also conducted 

a plenary workshop entitled Unite for a Purpose – Why Working Together Makes 

Sense.

§ Hosted a student workshop at the 2017 Hispanic Association of Colleges and 

Universities (HACU) Annual Conference entitled Make Your Resume Count: Effective 

Skills for Developing a Resume Without Rival. The workshop provided details on 

how to apply critical writing techniques to enhance ones marketability to compete in 

today’s job market.

§ Hosted a workshop at the 2017 Thurgood Marshall Leadership Institute on Financial 

Education for students from Historically Black Colleges and Universities. The 

FDIC representatives also conducted informational interviews for the Corporate 

Employee Program (CEP) and Internship opportunities during the Leadership 

Institute.

Diversity and Inclusion Analytics Dashboard

Included in the FDIC’s Diversity and Inclusion Strategic Plan is the goal to develop 

structures and strategies to equip FDIC leaders with the ability to manage diversity, 

measure results, refine approaches on the basis of available data, and institutionalize 

a culture of inclusion. In addition, after reviewing several financial services industry 

regulators in 2013, the U.S. Government Accountability Office (GAO) recommended 

that the agencies report on efforts to measure the progress of their employment 

diversity and inclusion practices, including measurement outcomes as appropriate, to 

indicate areas for improvement as part of their annual reports to Congress.3

To implement its strategic plan and address the GAO recommendation, the FDIC 

developed a workforce analytics dashboard to provide actionable data to senior 

leadership on the FDIC workforce by gender and minority status, and by division/

3 Trends and Practices in the Financial Services Industry and Agencies after the Recent 

Financial Crisis, GAO-13-238, April 16, 2013
26 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

EMPLOYMENT AT THE FDIC : Increasing Representation of Minorities and Women

office, region, race, ethnicity, occupation, grade level, and employment type 

(permanent and non-permanent). The analytics dashboard has been an important 

management tool for diversity and inclusion since being launched on June 20, 2013. 

It allows FDIC senior leaders to support diversity and inclusion efforts in hiring, 

promotion and retention, and to identify ways to make improvements over time. 

The dashboard was used during 2017 by FDIC divisions and offices to target 

recruitment activities to increase the pool of minority and women applicants; assess 

the inclusion of minorities and women at the entry, mid, and senior levels; and 

evaluate diversity-related issues reported in the Federal Employee Viewpoint Survey. 

Senior leaders have access to workforce data that are updated quarterly and give them 

the ability to measure progress and adjust strategies where needed. The FDIC will 

continue to identify additional enhancements to the dashboard that will permit senior 

leaders to continue understanding and advancing diversity and inclusion within their 

organizations.

Workforce Development Initiative

Like many other federal agencies, the FDIC faces potential succession management 

challenges as many of its long-term, experienced employees consider retirement. 

Introduced in 2014, the FDIC’s Workforce Development Initiative seeks to prepare 

employees to fulfill current and future workforce capability and leadership roles. This 

focus will help to ensure that the FDIC has a workforce positioned to meet today’s core 

responsibilities while preparing to fulfill its mission in the years ahead.

During 2017, the FDIC continued to develop and implement the WDI to address 

comprehensive succession planning needs and workforce development challenges 

and opportunities. The WDI is focused on four broad objectives: (1) to attract and 

develop talented employees across the agency; (2) to enhance the capabilities of 

employees through training and diverse work experiences; (3) to encourage employees 

to engage in active career development planning and seek leadership roles in the 

FDIC; and (4) to build on and strengthen the FDIC’s operations to support these efforts. 

Also in 2017, the succession planning survey of the WDI was expanded to include the 

aspirations of employees at the CG-12 through CG-15 grade levels. 

In 2018, the FDIC will continue to develop and implement the strategies, programs, 

and infrastructure to support the attainment of these objectives in meeting its longterm workforce needs. As a member of the WDI workgroup, OMWI helps ensure that 

minorities and women have an equal opportunity to participate. 
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 27

EMPLOYMENT AT THE FDIC : Increasing Representation of Minorities and Women

Challenges

A key challenge for the FDIC in promoting diversity at all levels of its workforce 

continues to be the ability to attract and retain minorities and women in its bank 

examiner workforce. The examiner occupation represents the largest occupational 

group at the FDIC and accounts for 45.2 percent (2,756) of the FDIC total workforce 

(6,093). Individuals who began their FDIC careers as examiners tend to occupy a 

significant percentage of executive and managerial leadership positions at the agency, 

as well as other non-examiner positions in the FDIC. Thus, representation rates within 

the examiner workforce are key elements to achieving satisfactory representation 

rates within the broader FDIC workforce.

Despite the overall success of the CEP in increasing the percentage of women and 

minorities in the examiner workforce, those percentages still remain significantly 

below the CLF, such as for Asian American men and women, Hispanic American 

women, and women of two of more races. The attrition data will continue to be 

monitored and strategies will be developed to improve retention. [See Figure 12.]

In the non-examiner occupations of economists, financial administration, accountant/

auditors, attorneys, and general business and industry, the FDIC faces challenges in 

attracting and recruiting minorities and women, primarily due to low representation 

rates for minority groups and women in these occupations. [See Appendix D.]  

Figure 12 CEP Attrition Rates

Total 2 or More AIAN Asian Black Hispanic White

Women Men Women Men Women Men Women Men Women Men Women Men

Hired 1811 14 17 4 11 36 55 173 112 33 44 434 878

Involuntary 

Departures 36 0 0 0 0 1 1 7 9 1 2 4 11

Involuntary 

Attrition Rate+

(%)

2.0 0.0 0.0 0.0 0.0 2.8 1.8 4.0 8.0 3.0 4.5 0.9 1.3

Subtotal 1775 14 17 4 11 35 54 166 103 32 42 430 867

Transfers 

(Mid-Career/

Other)

36 0 0 0 0 0 0 4 3 2 1 13 13

Voluntary 

Departures 587 2 2 1 5 11 29 60 47 11 15 140 264

Voluntary 

Attrition Rate 

* (%)

33.1 14.3 11.8% 25.0 45.5% 31.4% 53.7% 36.1% 45.6% 34.4% 35.7% 32.6% 30.4%

Number 

Retained 1152 12 15 3 6 24 25 102 53 19 26 277 590

+

 “Involuntary Attrition Rate” is the Involuntary Departures divided by the total hired.

* “Voluntary Attrition Rate” is the Voluntary Departures divided by the subtotal.
28 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

EMPLOYMENT AT THE FDIC : Increasing Representation of Minorities and Women

Overall, minorities fall below the relevant CLF in the economist occupation, with 

Hispanic American men, Black American men, and Asian American men having low 

participation rates and Hispanic American women, American Indian and Alaska Native 

men and women, and men and women of two or more races being absent. 

In the financial administration and program occupation, Women, Hispanic American 

men and women, White women, and American Indian or Alaska Native men fall below 

the CLF.  Women of two or more races are absent. Women, Hispanic American men 

and women, White women, Black American women, Asian American women, 

American Indian or Alaska Native women, and women of two or more races fall below 

the CLF in the general business and industry occupation.  Men, White men, Black 

American men, Asian American men, American Indian and Alaska Native men, and 

men of two or more races all exceed the relevant CLF for this occupation.

For the accountant/auditor occupations, Hispanic American men and women and 

American Indian and Alaskan Native men and women, and women of two or more 

races are absent. White women and Asian American men have a low representation 

compared to the relevant CLF for the accountant/auditor occupation.

In the attorney occupation, the level of representation for some groups is not as 

pronounced as it is in other occupations. Hispanic American men and women, Asian 

American men, and women of two or more races have participation rates slightly 

below the relevant CLF in the attorney occupation. 

In the general business and industry occupation, the low participation rates appear 

to be concentrated among women, with women overall and in each separate group 

being below the relevant CLF. Hispanic American men are represented at a rate slightly 

below the relevant CLF, while men in all other groups have rates above the relevant 

CLF.

To address the participation rates of the groups noted above in the non-examiner 

occupations, the FDIC recruitment plan includes strategies intended to increase 

outreach to prospective applicants in underrepresented groups at the entry, mid, and 

senior levels in these occupations throughout the agency. The plan includes reaching 

out to professional organizations, colleges and universities, and affinity groups. 

In 2017, the FDIC continued monitoring race, ethnicity, gender, and grade levels by 

FDIC divisions and offices. As a result, the FDIC continues expanding outreach and 

recruitment more broadly to increase minority and women representation at senior 

levels within the FDIC. Also, the FDIC updated and continued implementing its 

Diversity and Inclusion Strategic Plan, which is designed to develop an integrated view 

of diversity and inclusion, strategically monitor and manage the employment life cycle 

(hire to retire), and address challenges at the FDIC.
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 29

OTHER ACTIVITIES

Status of DFA Section 342 Regulated Entity Requirements

The FDIC OMWI continued to work closely with the OMWI Directors of the Office of the 

Comptroller of the Currency (OCC), the National Credit Union Administration (NCUA), 

the Federal Reserve Board (FRB), the Consumer Financial Protection Bureau (CFPB), 

and the Securities and Exchange Commission (SEC) to further implement Section 

342(b)(2)(C) of the Dodd-Frank Act, which required regulatory agencies to develop 

standards to assess the diversity policies and practices of the entities they regulate. 

After publishing the final Interagency Policy Statement Establishing Joint Standards 

for Assessing the Diversity Policies and Practices of Regulated Entities (Policy 

Statement) in the Federal Register in June 2015, the FDIC sought approval from OMB 

to collect assessment information from their regulated entities.

In October 2016, the Acting Director, OMWI, distributed a letter to Presidents and Chief 

Executive Officers of FDIC-regulated financial institutions identified as having 100 

or more employees. The letter informed the institutions about the Policy Statement, 

OMB’s approval for the FDIC to voluntarily collect information from its regulated 

institutions, and encouraged the institutions to make their assessment information 

public. 

To facilitate the uniform and systematic collection of assessment information, the 

FDIC developed a self-assessment template. The Diversity Self-Assessment of FDIC 

Regulated Financial Institutions (Diversity Self-Assessment) instrument was designed 

to assist financial institutions with conducting assessments of their diversity policies 

and practices using the standards identified in the Policy Statement. 
30 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

OTHER ACTIVITIES

In March 2017, the Acting Director, OMWI, distributed a reminder letter to financial 

institutions encouraging them to conduct voluntary self-assessments. The letter 

not only encouraged institutions to submit a self-assessment, it served to inform 

institutions about the Diversity Self-Assessment instrument and the availability of 

other resources on the FDIC web site. 

The FDIC received 95 of 805 (11.8 percent) self-assessments from its regulated financial 

institutions for the 2016 reporting period. Most of the financial institutions used the 

instrument to assess their diversity program.

While the FDIC is pleased with the participation of financial institutions for this initial 

effort, it will take steps to increase voluntary participation rates. The FDIC OMWI 

will continue to raise awareness amongst FDIC-regulated financial institutions by 

identifying leading trends and practices, and establishing benchmarks designed to 

build a strong culture in diversity and inclusion.

The FDIC will emphasize to its regulated institutions the value of conducting voluntary 

self-assessments, annually submitting assessment results to the OMWI Director, 

and making diversity information transparent to the public. Moreover, the FDIC may 

use the information received to monitor progress and trends in the financial services 

industry with regard to diversity and inclusion in employment and contracting 

activities.  

The Diversity Self-Assessment instrument, the associated guidance for completing 

and submitting the assessment, and other resources are available on the FDIC’s 

website at www.fdic.gov/about/diversity.

Contractor Workforce

Section 342(c) of the DFA requires that OMWI ensure, to the maximum extent possible, 

the fair inclusion of minorities, women, and minority- and women-owned businesses 

in all business activities of the agency, including procurement. Following passage 

of the DFA, OMWI worked with FDIC’s Acquisition Services Branch (ASB) and Legal 

Division to develop a “Fair Inclusion” contract clause for all awards over $100,000. This 

award amount is the agency threshold for contracts that must follow formal contract 

award procedures. The clause notifies contractors of the responsibility to include 

minorities and women in their workforce and advises of remediation action the FDIC 

may take if it is determined the contractor has failed to do so. OMWI developed the 

Contractor Workforce Review Process (CWRP) in collaboration with ASB and the Legal 

Division to assess a contractor’s good faith efforts. The CWRP encompasses existing 

FDIC procurement policies and practices that support the requirements of section 

342(c) of DFA.
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 31

OTHER ACTIVITIES

Good faith efforts are defined as actions contractors undertake to identify, and, if 

present, remove barriers to employment or expansion of employment opportunities 

for minorities and women. Contractors that seek to do business with the FDIC must 

provide a written statement, known as the Fair Inclusion Certification, stating their 

commitment to making a good faith effort. To verify their commitment, agency 

contractors, upon written request from the FDIC, are asked to provide documentation 

that supports the actions they have undertaken to demonstrate their good faith effort 

to ensure the fair inclusion of minorities and women in their workforce.

In 2017, OMWI continued implementation of the CWRP in collaboration with ASB and 

the Legal Division. Fifty contractors, currently doing business with the FDIC, were 

selected to provide information on their good faith efforts to ensure the fair inclusion 

of minorities and women in their workforce, and, if applicable, subcontractors. 

Contractors were selected from all active FDIC awards issued after September 1, 

2011, and valued over $100,000. These were contractors subject to the Fair Inclusion 

clause requirements. The fifty contractors represented approximately 22 percent 

of eligible awards and covered a wide range of sectors as defined under the NAICS 

Codes. The size of the contractors ranged from small companies that employed less 

than fifty people up to large corporations that employed thousands.

The selected contractors were asked to provide a copy of their plan that outlines 

their good faith efforts to include women and minorities in the workforce; 

demographic data; and other documentation that demonstrated their commitment. 

Many contractors leveraged information already prepared to comply with Federal 

Equal Employment Opportunity (EEO) and Affirmative Action (AA) requirements. 

For those contractors not subject to mandatory EEO or AA recordkeeping and 

reporting requirements, the FDIC met with representatives to discuss what other 

readily available information existed such as, outreach activities, diversity training, 

partnerships with professional organizations, etc. The FDIC followed up as needed 

to obtain clarification on good faith effort activities. At the conclusion of the review, 

it was determined all contractors reviewed had made, were making, or had a plan in 

place to make good faith efforts to include women and minorities in their workforce. 
32 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

OTHER ACTIVITIES

Promoting Financial Access and Financial Literacy

Financial education helps consumers understand and use bank products effectively 

and sustain a banking relationship over time. The FDIC continued to be a leader 

in developing high-quality, free financial educational resources and pursuing 

collaborations to use those tools to educate the public. In particular, the FDIC designed 

strategies to reach two particular segments of the population that the National Survey 

of Unbanked and Underbanked Consumers revealed are disproportionately unbanked 

and underbanked: low- and moderate-income (LMI) young people and people with 

disabilities. The FDIC’s work during 2017 focusing on young people was also consistent 

with the Financial Literacy and Education Commission’s (FLEC) focus on Starting Early 

for Financial Success.

Youth Financial Education

Recognizing the promise of hands-on learning approaches, the FDIC’s youth work 

centered on helping banks understand strategies to connect financial education to 

savings accounts. In 2017, the FDIC released the Youth Savings Pilot report which 

examines the experiences of 21 diverse banks in designing and implementing youth 

savings programs. The report describes promising practices banks can use to develop 

or expand their own youth savings programs. The report is accessible through the 

new Youth Banking Resource Center that had more than 8,200 page views between its 

launch in late March to the end of December. The release of the report was followed by 

a webinar to communicate to financial institutions key practices identified during the 

Pilot.

FDIC launched the Youth Banking Network to support banks as they work with school 

and nonprofit partners to develop youth savings programs using the knowledge 

gained from the Pilot. The FDIC convened three Network conference calls that focused 

on topics of interest, including program design and financial education delivery. 

Bankers and other experts shared their experiences and promising practices. The FDIC 

provided periodic assistance to members in response to specific questions. 

The FDIC also shared key lessons learned from the Youth Savings Pilot during two 

national webinars focused on Money Smart resources for teaching youth. Both 

webinars featured experts and practitioners discussing the delivery of effective 

financial education including how the Money Smart for Young People curriculum can 

be used. The Teacher Online Resource Center was also redesigned to allow educators to easily find Money Smart for Young People and other relevant resources. Other 

enhancements to the site include new videos that provide a quick overview of the 

curriculum tools and links to relevant resources that can support the delivery of 

financial education in the classroom. The site had more than 9,000 visits during 2017. 
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 33

OTHER ACTIVITIES

The FDIC pursued strategies to improve financial education and access to mainstream financial services for youth participating in youth employment programs, 

including those funded through the Workforce Innovation and Opportunity Act 

(WIOA). For workforce providers and their partners teaching financial education, the 

FDIC developed a tool to map Money Smart to WIOA’s financial education element. 

The FDIC also released a supplement to Money Smart designed to help prepare 

youth to open their first savings or transactional accounts. As a member of the FLEC, 

the FDIC helped develop two resource guides for financial institutions and youth 

employment program providers to discuss opportunities of mutual benefit.

The FDIC also led three webinars in collaboration with the Department of Labor to 

increase awareness of Money Smart among organizations that receive federal 

funding for youth employment. In addition, the FDIC participated in three regional 

events in collaboration with the Department of Labor and Federal Reserve Banks to 

strengthen the capacity of workforce development organizations to work with 

financial institutions on financial capability initiatives. The FDIC was selected to hold 

a “quick shop” and a panel presentation at two national workforce association 

events. 

The FDIC Money Smart Alliance is a network of diverse organizations that use Money 

Smart to provide financial education training to organizations, consumers, and small 

businesses. Money Smart is available in nine languages plus large print and Braille. 

The FDIC hosted a national webinar on February 28, 2017, to discuss the Money 

Smart Alliance and opportunities to join the Alliance. The FDIC web site also now 

features a searchable database of Alliance members to help facilitate collaborations 

among organizations to use Money Smart and to help consumers find training. The 

FDIC also continued to provide technical assistance to Alliance members to support 

their implementation of Money Smart. For example, a ‘peer-to-peer’ learning webinar 

for Alliance members featured representatives of a financial institution and a nonprofit organization discussing how they use Money Smart. 

During 2017, 287 organizations joined the Money Smart Alliance. Moreover, 545 

organizations have renewed membership or joined the Alliance since the inception of 

the new enrollment process in early 2016; and 272 of the Alliance members report 

using Money Smart for Small Business. 

Financial Education for Adults Including Persons with Disabilities

The FDIC emphasized strategies to promote economic inclusion for people with 

disabilities given this population is disproportionally unbanked and underbanked. As 

one element of these strategies, the FDIC expanded efforts with local partners through 

14 community events to bring banks and organizations representing people with 

disabilities together at both the state and local levels. 
34 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

OTHER ACTIVITIES

Together with the CFPB, the FDIC hosted organizations that support people with 

disabilities at Gallaudet University in May. The organizations are part of CFPB’s Focus 

on Disabilities cohort and together they learned about CFPB’s Your Money, Your 

Goals toolkit and the FDIC’s Money Smart financial education program. The event 

was followed by two in-person training sessions and two webinars to further assist 

members of the cohort advance financial capability for persons with disabilities. 

The FDIC also revised the Guide to Presenting Money Smart for Adults that includes 

updated information to help instructors support participants with disabilities, including 

additional tips about reasonable accommodations and sample language to include 

on registration forms. The FDIC also produced the Instructor’s Guide Supplement 

the have four scenarios featuring individuals with disabilities dealing with a financial 

situation in their lives.

In 2017, the FDIC began to revise and update the instructor-led Money Smart for Adults

curriculum to ensure accuracy and relevance. Five organizations, including two banks, 

tested three of the redeveloped draft modules that provide education to their clients. 

The feedback from these organizations provided valuable information that helped form 

the redevelopment of the remaining modules. All of the modules in the redeveloped 

curriculum will be tested and released in 2018. 

Money Smart for Small Business

The FDIC continues to highlight the Money Smart for Small Business curriculum 

with a focus on informational events for bankers, community organizations, and 

entrepreneurs – and on increasing partnerships at the state and local levels for small 

business access to credit resources. In collaboration with diverse partners, particularly 

the Small Business Administration and its partner network (i.e., Small Business 

Development Centers, Women’s Business Centers and SCORE chapters), the FDIC 

convened forums and roundtables featuring safe small business products and services 

and provided information and technical assistance to support initiatives geared to 

increase access to capital for small businesses. In 2017, the Community Affairs Branch 

completed 82 events and activities primarily focused on small business. 

The FDIC supported community development and economic inclusion partnerships at 

the local level by providing technical assistance and information resources throughout 

the country, with a focus on unbanked and underbanked households and low- and 

moderate-income communities. The Community Affairs staff supports economic 

inclusion initiatives through work with the Alliances for Economic Inclusion (AEI), Bank 

On initiatives, and other coalitions originated by local and state governments, and 

through collaboration with federal partners and many local and national non-profit 
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 35

OTHER ACTIVITIES

organizations. The FDIC also partnered with other financial regulatory agencies to 

provide information and community development technical assistance to banks and 

community leaders across the country.

In the 12 AEI communities, the FDIC helped working groups of bankers and community 

leaders develop responses to the financial capability and services needs in their 

communities. To integrate financial capability into community services more 

effectively, the FDIC supported the following activities: seminars and training sessions 

for community service providers and asset building organizations; workshops 

for financial coaches and counselors; promotion of savings opportunities for LMI 

individuals and communities; initiatives to expand access to savings accounts for 

all ages; outreach to bring numerous people to tax preparation assistance sites; and 

education for business owners to help them become bankable.

The FDIC worked in ten Bank On communities to convene 15 forums and roundtables 

that helped advance strategies to expand access to safe and affordable deposit 

accounts and engage unbanked and underbanked consumers. In collaboration with 

Cities for Financial Empowerment Fund, the FDIC provided technical assistance to 

bankers, coalition leaders, and others interested in understanding opportunities for 

banking services designed to meet the needs of the unbanked and underbanked. 

Also, the FDIC’s Advisory Committee on Economic Inclusion held meetings in 2017. 

The Committee continued to provide the FDIC with advice and recommendations 

on important initiatives focusing on expanding access to banking services for 

underserved populations. The April meeting summarized highlights of the FDIC’s 

Economic Inclusion Summit, discussed access to neighborhood bank branches, and 

described how banks can better access affordable mortgage lending resources. The 

October meeting featured panel discussions on safe accounts, the 2016 FDIC Bank 

Survey results, and economic inclusion for persons with disabilities. An update on 

access to neighborhood bank branches was also given. 

Minority Depository Institution Activities

The preservation of minority depository institutions (MDI) remains a high priority for 

the FDIC. In 2017, the FDIC continued to support MDI and Community Development 

Financial Institution (CDFI) industry-led strategies for success. These strategies include 

increasing collaboration between MDI and CDFI bankers; partnering to share costs, 
36 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

OTHER ACTIVITIES

raise capital, or pool loans; and making innovative use of federal programs. The FDIC 

supports this effort by providing technical assistance to MDI and CDFI bankers.

In December 2017, the FDIC published a Financial Institution Letter (FIL) to encourage 

collaboration among MDIs and between MDIs and other institutions. This publication 

describes some of the ways that financial institutions, including community banks, can 

partner with MDIs to the benefit of all institutions involved, as well as the communities 

they serve. Both community banks and larger insured financial institutions have 

valuable incentives under the CRA to undertake ventures with MDIs, including capital 

investment and loan participations.

In February 2017, the federal banking agencies co-sponsored a two-day conference 

titled, Expanding the Impact: Increasing Capacity and Influence, for approximately 

110 bankers from more than 70 MDIs around the country. Key topics discussed at the 

conference included strategic planning and succession management, banking and 

innovation, and enhancing capacity through collaboration. Bankers provided very 

positive feedback on the conference, which was held in Los Angeles, where there is a 

significant concentration of MDIs. The conference featured an interactive panel with 

the FDIC Chairman, a Federal Reserve Board Governor, and the Comptroller of the 

Currency. 

Also in 2017, the FDIC updated the information in its 2014 research study that captures 

the impact of structural changes on the assets controlled by MDIs. Between 2002 and 

2016, the number of voluntary mergers (72) was nearly twice the number of failures 

(39). Among MDIs that voluntarily merged or consolidated during that same period, 

54 percent of the institutions and 76 percent of total assets were acquired by another 

MDI. Among MDIs that failed between 2002 and 2016, 38 percent of the institutions

and 86 percent of total assets were acquired by another MDI. Although the rate of

acquisition by another MDI was higher for voluntary mergers than for failures, the

FDIC demonstrated its commitment to the statutory goal of preserving the minority

character in mergers and acquisitions and providing technical assistance to help

prevent insolvency. In the event of a potential MDI failure, the FDIC contacts all MDIs

nationwide that qualify to bid on failing institutions. The FDIC solicits qualified MDIs’

interest in the failing institution, discusses the bidding process, and provides technical

assistance regarding completion of bid forms.

The FDIC continuously pursued efforts to improve communication and interaction with 

MDIs and to respond to the concerns of minority bankers in 2017. The FDIC maintains 

active outreach with MDI trade groups and offers to arrange annual meetings 

between FDIC regional management and each MDI’s board of directors to discuss 

issues of interest. The FDIC routinely contacts MDIs to offer return visits and technical 

assistance following the conclusion of FDIC safety and soundness, compliance, 

CRA, and specialty examinations to assist bank management in understanding 
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 37

OTHER ACTIVITIES

and implementing examination recommendations. These return visits, normally 

conducted within 90 to 120 days after the examination, are intended to provide useful 

recommendations or feedback for improving operations, not to identify new issues. 

The FDIC’s website also encourages and provides contact information for any MDI to 

request technical assistance at any time. 

In 2017, the FDIC provided 211 individual technical assistance sessions on 

approximately 60 risk management and compliance topics, including:

§§ accounting;

§§ Bank Secrecy Act and Anti-Money Laundering;

§§ brokered deposits/waivers;

§§ capital planning;

§§ Community Reinvestment Act;

§§ compliance management systems;

§§ funding and liquidity;

§§ information technology risk management and security;

§§ loan underwriting and administration;

§§ mortgage lending rules;

§§ troubled debt restructuring; and

§§ succession planning

The FDIC also held outreach, training, and educational programs for MDIs through 

conference calls and regional banker roundtables. In 2017, topics of discussion for 

these sessions included many of those listed above, as well as MDI research, strategic 

planning, new products and services, BSA training, cybersecurity, and liquidity risk. 
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Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 39

CONCLUSION

During 2017, OMWI continued to make progress in enhancing the diversity of the 

FDIC’s workforce and its business practices. 

The racial, ethnic, and gender diversity of the workforce continues a steady increase 

since the passage of DFA section 342. Both the percentages for minorities (29 percent) 

and women (44.9 percent) in the FDIC’s permanent workforce have increased since the 

passage of DFA section 342. The FDIC continues to face challenges in attracting and 

retaining minorities and women in its bank examiner workforce, which is the principal 

feeder group for a significant percentage of executive and managerial leadership 

positions at the agency.

With regard to increasing MWOB participation, the FDIC focused on opportunities 

for MWOBs in its non-financial recurring services and continued to implement new 

procurement strategies that restructured large contracts into smaller contracts to 

increase MWOB participation and contract awards. The FDIC maintained an aggressive 

vendor outreach and education program participating in business expos and technical 

assistance events which resulted in 233 new MWOBs being added to the Contractor 

Resource List, the internal FDIC database for vendors interested in doing business with 

the FDIC. Despite the decrease in bank resolution activities, which has been the major 

source for contracting opportunities, the FDIC has been successful at identifying new 

opportunities for MWOBs. 
40 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

CONCLUSION

The FDIC remained fully engaged and continues to implement the requirements of DFA 

section 342 by developing an instrument to assist its regulated financial institutions 

with conducting self-assessments of their diversity policies and practices. Further, 

the FDIC’s OMWI continued its implementation of the Contractor Workforce Review 

Process to assess whether its contractors have made good faith efforts to include 

minorities and women in their workforce. 

In every respect, the FDIC’s accomplishments during 2017 are in concert with the 

requirements of DFA section 342. The FDIC will continue to develop strategies and to 

capitalize on opportunities to further meet DFA requirements. Specifically, the FDIC 

will continue to examine requirements for goods and services in the procurement and 

contracting arena to optimize opportunities to increase MWOB participation, as annual 

contract awards continue to decline significantly due to the reduction in the number 

of financial institution failures; and will continue to recruit, hire, and retain the most 

talented and diverse workforce to sustain its mission.
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 41

APPENDICES
42 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

APPENDICES

Appendix A

FDIC Contracting Awards to MWOBs, Five-Year Trend (in millions)

2013 2014 2015 2016 2017

Total awards $572.8 100.0% $686.8 100.0% $858.4 100.0% $508.8 100.0% $523.7 100.0%

Minority-owned 

or women-owned 

business totals

$198.7 34.7% $239.9 34.9% $211.6 24.7% $93.9 18.5% $96.7 18.5%

Minority-owned $158.5 27.7% $143.7 20.9% $145.2 16.9% $56.5 11.1% $66.7 12.7%

Women-owned $66.1 11.5% $132.6 19.3% $104.2 12.1% $47.4 9.3% $46.2 8.8%

Both minorityowned and 

women-owned

$25.9 4.5% $36.4 5.3% $37.8 4.3% $10.0 1.9% $16.2 3.0%

Asian American $38.0 6.7% $27.1 4.0% $51.8 6.0% $25.0 4.9% $31.2 6.0%

Black American $32.2 5.6% $21.3 3.1% $30.7 3.6% $9.4 1.9% $32.7 6.2%

Hispanic 

American $85.3 14.9% $66.1 9.6% $43.2 5.0% $20.6 4.0% $1.6 0.3%

Native American $- 0.0% $0.8 0.1% $- 0.0% $ 0.1 0.0% $0.9 0.2%

Other minority $3.0 0.5% $28.4 4.1% $19.5 2.3% $1.4 0.3% $0.3 0.0%

FDIC Payments to MWOBs, Five-Year Trend (in millions)

2013 2014 2015 2016 2017

Total Contract 

Payments $553.7 100.0% $491.6 100.0% $507.2 100.0% $415.2 100.0% $414.0 100.0%

Minority-owned $102.9 18.6% $89.3 18.2% $89.3 17.6% $56.0 13.5% $54.6 13.2%

Women-owned $63.7 11.5% $63.6 12.9% $83.2 16.4% $66.8 16.1% $66.9 16.2%

Both minorityowned and 

women-owned

$26.0 4.7% $24.7 5.0% $30.0 5.9% $11.3 2.8% $11.9 2.9%
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress 43

APPENDICES

Appendix B

FDIC 2017 Contract Awards by Top Ten NAICS Codes

NAICS NAICS Description Dollar Amount of 

All Awards

Dollar Amount 

of MWOB 

Awards

% of 

Dollars to 

MWOBs

561110 Office Administrative Services $116,579,000.00 0.0%

541519 Other Computer Related Services $61,039,501.76 $13,578,724.65 3.7%

541611 Administrative Management and 

General Management Consulting 

Services 

$49,281,319.14 $16,895,893.54 4.5%

524113 Direct Life Insurance Carriers $38,303,246.00 0.0%

518210 Data Processing, Hosting, and 

Related Services

$21,125,924.99 $1,065,553.43 0.3%

561210 Facilities Support Services $20,728,053.00 0.0%

561611 Investigation Services $18,000,000.00 $18,000,000.00 4.8%

541620 Environmental Consulting Services $16,878,600.00 $1,136,100.00 0.3%

484210 Used Household and Office Goods 

Moving

 $15,500,000.00 0.0%

531311 Residential Property Managers $14,390,748.00 0.0%

Total $371,826,392.89 $50,676,271.62 13.6%
44 Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2017 Report to Congress

APPENDICES

Appendix C

FDIC Total, Permanent, and Executive Manager Workforce, Five-Year Trend

Total Workforce (Permanent and Non-Permanent)

2013 2014 2015 2016 2017 Change

Minority 27.5% 28.1% 28.2% 28.0% 28.7% +1.2%

Non-Minority 72.5% 71.9% 71.8% 72.0% 71.3% -1.2%

Men 56.3% 55.5% 55.3% 55.2% 55.2% -1.1%

Women 43.7% 44.5% 44.7% 44.8% 44.8% +1.1%

Permanent Workforce

2013 2014 2015 2016 2017 Change

Minority 27.3% 27.6% 28.0% 28.2% 29.0% +1.7%

Non-Minority 72.7% 72.4% 72.0% 71.8% 71.0% -1.7%

Men 55.2% 55.0% 54.8% 54.9% 55.1% -0.1%

Women 44.8% 45.0% 45.2% 45.1% 44.9% +0.1%

Total Workforce - Executive Manager (Permanent and Non-Permanent)

2013 2014 2015 2016 2017 Change

Minority 15.7% 14.1% 18.0% 18.8% 18.3% +2.6%

NonMinority 84.3% 85.9% 82.0% 81.2% 81.7% -2.6%

Men 68.6% 64.1% 66.9% 63.2% 61.1% -7.5%

Women 31.4% 35.9% 33.1% 36.8% 38.9% +7.5%
Section 342 Dodd-Frank Wall Street Reform and Consumer Protection Act 2016 Report to Congress 45

APPENDICES

Appendix D

2017 FDIC Major Occupations, Total Workforce

Job Title/Series 

Occupational CLF

Race/Ethnicity

Non - Hispanic or Latino

Total Employees Hispanic 

American White Black 

American 

Asian 

American 

American 

Indian or 

Alaska Native 

Two or more 

races 

All Men Women Men Women Men Women Men Women Men Women Men Women Men Women

Economist (0110)

# 70 48 22 1 0 44 16 1 3 2 3 0 0 0 0

% 100% 68.6% 31.4% 1.4% 0.0% 62% 22.9% 1.4% 4.3% 2.9% 4.3% 0.0% 0.0% 0.0% 0.0%

CLF 100% 67.1% 32.9% 3.3% 1.9% 55.8% 25.2% 2.8% 2.7% 4.4% 2.7% 0.2% 0.1% 0.6% 0.4%

Financial Administration 

and Program (0501)

# 176 92 84 3 2 73 36 9 39 6 6 0 1 1 0

% 100% 52.3% 47.7% 1.7% 1.1% 41.5% 20.5% 5.1% 22.2% 3.4% 3.4% 0.0% 0.6% 0.6% 0.0%

CLF 100% 43.8% 56.3% 4.0% 5.8% 32.5% 38.6% 4.7% 7.5% 1.7% 3.1% 0.3% 0.4% 0.6% 1.0%

Accountants and 

Auditors (0510/0511) 

# 98 47 51 0 0 34 22 8 21 2 8 0 0 3 0

% 100% 48.0% 52.0% 0.0% 0.0% 34.7% 22.4% 8.2% 21.4% 2.0% 8.2% 0.0% 0.0% 3.1% 0.0%

CLF 100% 39.9% 60.1% 2.2% 3.9% 31.8% 44.2% 2.4% 5.6% 3.0% 5.4% 0.1% 0.3% 0.4% 0.7%

Financial Institution 

Examining (0570) 

# 2756 1688 1068 68 35 1435 789 107 174 52 50 9 6 17 14

% 100% 61.2% 38.8% 2.5% 1.3% 52.1% 28.6% 3.9% 6.3% 1.9% 1.8% 0.3% 0.2% 0.6% 0.5%

CLF 100% 54.8% 45.2% 3.1% 3.7% 44.1% 28.3% 3.4% 8.4% 3.5% 3.7% 0.1% 0.2% 0.6% 1.0%

Attorney (0905) 

# 352 206 146 7 4 180 114 10 15 5 11 1 1 3 1

% 100% 58.5% 41.5% 2.0% 1.1% 51.1% 32.4% 2.8% 4.3% 1.4% 3.1% 0.3% 0.3% 0.9% 0.3%

CLF 100% 66.7% 33.3% 2.5% 1.9% 59.7% 26.7% 2.1% 2.5% 1.7% 1.6% 0.1% 0.1% 0.6% 0.6%

General Business and 

Industry (1101)

# 314 202 112 7 3 165 81 14 20 10 7 1 0 5 1

% 100% 64.3% 35.7% 2.2% 1.0% 52.6% 25.8% 4.5% 6.4% 3.2% 2.2% 0.3% 0.0% 1.6% 0.3%

CLF 100% 36.7% 63.3% 2.9% 5.9% 27.1% 43.8% 3.6% 8.8% 2.4% 3.3% 0.2% 0.4% 0.6% 1.1%
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FDIC-015-2017