We, along with the Bank's Board of Directors, are
personally committed to equal employment
opportunity for all persons and to the Bank's
Affirmative Action Program. Each of you plays an
important role in fulfilling this commitment, and in
ensuring that the Bank's personnel policies and
practices are administered in accordance with the
Bank's Equal Employment Opportunity Policy.
This handbook is designed for you to use as a
reference guide on this Bank's Equal Employment
Opportunity Policy and Affirmative Action Program.
The Personnel Officers and the Equal Employment
Opportunity Officer are available to answer any
questions and to assist you in carrying out your
responsibilities.
The Federal Reserve Bank of New York is
committed to providing equal employment
opportunity to all persons without regard to race,
color, religion, national origin, sex, age, or handicap.
All aspects of personnel management and employee
relations, including recruitment, promotion,
administration of compensation and benefits, and
Bank-supported training, counseling, and educational
programs are administered in accordance with this
policy. The Bank is committed to increasing the
representation of minorities and females in the senior
staff and official positions at the Bank.
The Bank condemns and will take immediate
action against anyone who discriminates on the basis
of race, color, religion, national origin, sex, age, or
handicap, or who engages in conduct that constitutes
sexual harassment on the job, a discriminatory
practice violating Title VII of the Civil Rights Act of
1964. The sexual harassment of employees by
management personnel or by co-workers is strictly
prohibited. Unwelcome sexual advances, requests for
sexual favors, and other verbal or physical conduct of
a sexual nature may constitute sexual harassment.
Definitions and summary of
laws and regulations
Definitions and summaries of significant laws
pertaining to equal employment opportunity and
affirmative action are set forth below:
Equal Employment Opportunity is the
right of every person to apply for and be
evaluated for job opportunities and to be
considered only on the basis of that person's
ability to do the job, and not the person's race,
color, sex, national origin, religion, age, or
any mental or physical handicap.
Affirmative Action is positive action taken
by employers to hire and advance people
protected under the Civil Rights Act of 1964
("Act"). Affirmative Action programs are the
result of executive orders of the President and
their purpose is to remedy the effects of past
discrimination against those protected by the
The Civil Rights Act of 1964 prohibits
discrimination in employment on the basis of
race, color, religion, sex, or national origin.
The Act also established the Equal
Employment Opportunity Commission, which
administers the law to ensure equal treatment
to all.
There are numerous other federal and state
statutes that protect the civil rights of individual
employees.
Responsibilities
All officers and supervisory personnel are directly
responsible and accountable for carrying out the
Bank's Equal Employment Opportunity policy and for
assisting in implementing the Bank's Affirmative
Action Program.
Senior officers in charge of groups have
special responsibility for setting affirmative
action goals for their groups.
Officers in charge of functions are
responsible for devising action plans to meet
goals set by the senior officers of their groups.
These action plans include an outline of
strategies and appropriate timetables to be
used to meet the goals. They are submitted to
the Personnel Department and Equal
Employment Opportunity Office during the
first quarter of the calendar year.
Managers, chiefs, and other supervisory
staff have the responsibility for
implementing the action plans in their
respective areas, including such matters as
the employment of individuals from outside of
the Bank, where appropriate, and the
identification of key employees for
development.
The Vice President in charge of the Personnel
Function is responsible for promoting understanding
of the Bank's Program and working with senior
officers to develop detailed action plans to ensure
successful implementation.
The Equal Employment Opportunity Officer
assists in formulating the Bank's Affirmative Action
Program; monitors and evaluates the effectiveness of
the Bank's Equal Employment Opportunity Policy
and Affirmative Action Program; identifies,
investigates, and resolves equal employment
opportunity complaints; and prepares statistical and
other reports related to equal employment
opportunity and affirmative action.
Affirmative action planning
and implementation
The Bank's affirmative action planning process is
carried out at the group and function levels and for
the Bank as a whole. The process consists of three
phases:
■ Collecting and analyzing data on the sex and
ethnic composition of the Bank's local labor
market to determine whether the
representation of minorities and females in
various job groups in the Bank coincides with
representation in comparable occupations in the
local labor market;
■ Developing specific strategies, plans and
timetables, where warranted, to improve the
representation of minorities and females in
specific job groups and areas of the Bank; and
■ Implementing such strategies and plans.
Although strategies and plans may differ from area to area, they should address the following:
Identification and development of minorities
and females within the Bank for advancement;
Active recruiting initiatives; and
Other initiatives such as internships or
training efforts to improve the area's
success in recruiting and retention.
The Personnel Function and the Equal
Employment Opportunity Officer monitor, on a
quarterly basis, progress towards affirmative action
goals set by the individual groups and functions and
the Bank as a whole. A senior Personnel officer
reports to the Board of Directors annually on equal
opportunity developments in the Bank.
The Equal Employment Opportunity Officer
periodically reports on the Bank's affirmative action
efforts to the Committee on Management
Development and Compensation and, at year-end,
reports to the President and the First Vice President
on significant EEO matters, including affirmative
action achievements and the status of internal and
external discrimination complaints. The Equal
Employment Opportunity Officer also conducts
periodic reviews of selected personnel practices.
The senior officers in charge of groups and
functions report on attainment of their affirmative
action goals during the annual review of their area's
performance by the Resource Planning Committee.
Ongoing programs
The Bank conducts a variety of programs and
activities to meet the career development needs of all
employees including supervisory, technical, and
professional staff members. In so doing, the Bank
contributes to the upward mobility of minorities and
females as they advance in their careers at the Bank
by ensuring that they are appropriately represented
in the following programs and activities.
Affirmative Action: The Next Phase.
The Bank conducts a supervisory
management training program entitled
"Affirmative Action: The Next Phase,"
designed to heighten management awareness
of and sensitivity to equal employment
opportunity and affirmative action.
Executive Training and
Development Program (ET&D).
This program is open to employees in salary
grades XIII-XVII who demonstrate the
ability to assume official responsibilities.
Job Posting and Career Counseling.
The Bank's job posting system emphasizes
equal opportunity for all qualified applicants.
Career counseling service is available to assist
employees in reviewing career opportunities
and evaluating eligibility for specific job
openings.
The Bank offers approximately 40 courses in
operations, supervision, and communications
to assist employees in developing job-related
skills to prepare them for increased
responsibilities.
Management Training Program (MTP).
This program is open to employees in salary
grades VIII-XII who demonstrate the
potential and desire to assume general
management responsibilities.
Recruitment and
community relations
American Economic Association's
(AEA) Summer Program
for Minority Economists.
The Bank supports this program financially
and provides a Visiting Professor to the
program.
AEA Federal Reserve System Ph.D.
Fellowships for Minority Students.
The Bank participates in this System effort
designed to increase the representation of
blacks and other minorities in the economics
profession at the Ph.D. level.
Black Executive Exchange Program (BEEP).
The Bank sponsors, under the auspices of the
National Urban League, minority employees
as guest lecturers at predominantly black
colleges and universities.
LEAD (Leadership Education and
Development) Program in Business Inc.
The Bank participates in this program which
is designed to attract outstanding minority
students to careers in business and
management.
Minority Summer Internship Program.
The Bank hires minority students from
various colleges each summer to broaden
their exposure to the activities of the Bank.
Recruitment.
The Bank annually recruits at a wide variety
of colleges including those with significant
minority and female populations.
Urban Bankers Coalition.
Membership in this organization provides the
Bank with exposure to experienced minority
bankers and professionals.
Youth Opportunity Campaign.
This New York Employment Service program provides jobs for economically disadvantaged high school and college students.
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