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Introduce Performance Planning and Appraisal Process (PPAP), The Bank will introduce a new PPAP to provide effective feedback to employees and strengthen the current performance appraisal process.

Management Awareness of Employee Development and Feedback

Strengthen review, feedback and evaluation process. The affirmative action performance and feedback process will be strengthened to communicate more frequently with Bank management and members of the Management Development and Compensation Committee on affirmative action progress. High potential minority and female employees will be identified and profiled for the Committee's review, along with other promising employees, in an effort to strengthen the development and retention of these, employees at the Bank.

Place more emphasis on "Managing Diversity" in the Bank's training & development curriculum. Work force diversity challenges managers to identify and solve problems that arise because of cultural, racial

, generational, and gender differences. Such problems often have a direct impact on job satisfaction, morale and productivity. Approaches to managing those differences will be incorporated into the Bank's current training curriculum.

Create focus groups. The Bank will continue to use focus groups, comprised of a broad cross section of employees at various levels to review the Bank's efforts on various Personnel-related initiatives.

APPENDLX IV

DEFINITIONS

ADA (AMERICANS WITH DISABILITIES ACT) requires an employer to remove physical impediments or otherwise to make reasonable accommodations to allow a qualified disabled person to perform a job.

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 Act.

CIVIL RIGHTS ACT OF 1964 prohibits discrimination, including harassment, 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 Act to ensure equal treatment to all.

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, religion, sex, or national origin, age, or any mental or physical disability.

DISABLED INDIVIDUAL means any person who (1) bas physical or mental impairment which substantially limits one or more of such person's major life activities, (2) has a record of such impairment, or (3) is regarded as having such an impairment. For the purpose of the definition, "major life activity" means any mental or physical function or activity which, if impaired, creates a substantial barrier to employment.

QUALIFIED DISABLED INDIVIDUAL means a disabled individual who is capable of performing a particular job, with a reasonable accommodation to his disability, at an acceptable level in production applicable to a non-disabled incumbent employee.

be

SEXUAL HARASSMENT is a prohibited form of sex discrimination, and may take two forms. One involves unwelcome conduct, such as a sexual advance, that may used in making employment decisions. The other exists if there is an intimidating, hostile, or offensive working environment.

U.S. HOUSE OF REPRESENTATIVES
COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS

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STENOL NA NORTH CAROUNA
JO WALCL VON
DAUCE VOTO SOTA
CHAUS L SCHUMER NEW YOR
WANCY FRAM, MASSACHUSETT
PAUL KAILORS INVALIA
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ROVON MAL VORK

WOSI MUN MAMLANO
MALING WATERSCAUFORM
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ORL ORTON, UTAN
JM BACCHUS. LOROA
MERDERT C KLEN NEW JERSEY
CAROLYN I MALONE NEW YORK
ETER DEUTSCH FLORIDA
LUES V GUTIERREZ WINONG
ROOIY LAUSN LLINOIS
WOLLE ROYLAL ALLAO CALIFORNIA
THOMAS BRETT, WISCONSIN
BLZADOW PURSE OREGON
NYOUN VELOU NOW YOR
ALDENT WYMAMANO
CLEO PELDS. LOUISIANA
MELVIN WAN NORTW CAROLINA
MAURICE MICKEY, NEW YORK
CALVINM BOON, CAUPONA
NON KUNL PUNVALA
INCRONUT, ONO

JAMES A LLACH OWA
In MecOULUN, MORDA
MANGE ROVKEMA W ORSR
DOUG GOREUTER OMSLA
THOMAS MOGLONYLVANIA
TOCY ROTA WISCONSIN
AUNED A MCCANOLESS. CAURORILA
NCHARON BAKER LOUISIA
JIM NUSSLL IOWA
CRAG THOMAS. WYOMING
SAN JOHNSON TEXAS
OURONNYCL ONO
JONO UNDER GEORGIA
JOG KNOLLENBERG. NICKIGAN
NICK WO NEW YORK
MOO GRAMS MESOTA
SPENCER LACNVS H. ALABAMA
MNCE MUFFINGTON CAUFORONA
MICHAEL CAST DELAWARE
PETER KING NEW YORK

ONE HUNDRED THIRD CONGRESS

2129 RAYBURN HOUSE OFFICE BUILDING

WASHINGTON, DC 20515-6050

August 3, 1993

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Mr. William J. McDonough
President
Federal Reserve Bank of New York
33 Liberty Street
New York, New York 10045

Dear President McDonough:

Last year, the Comminee requested and you provided information regarding equal employment opportunity at the Federal Reserve Bank of New York. As part of our continuing oversight under Rule X of the House of Representatives of the operation and activities of the agencies and departments subject to the Committee's legislative jurisdiction, the Committee on Banking, Finance and Urban Affairs requests updated answers to the following questions;

1.

With respect to the internal structure of the Federal Reserve Bank of New

York:

a.

Provide current staffing statistics for the bank showing the number and percentage of employees for each pay grade, by race, sex, and disability, as of December 31, 1992. Include a separate breakdown for race and sex of the ten highest paid employees, the top ten percent highest paid employees and the ten percent lowest paid employees.

b. Provide a description of the responsibilities and qualifications for each job category represented at the bank. For each pay grade, please provide staffing statistics by job category.

If the personnel or structure in the office which administers your equal employment opportunity programs has changed since your July 1992 response, please describe the current structure and personnel composition of this office.

d. Describe and attach copies of all current policies and procedures regarding equal employment opportunity. What goals does the bank have for 1994?

Please provide an evaluation of the process by which the bank sets its

e.

Page 2, President McDonough

f. Please analyze the impact of your equal opportunity employment policies and goals in relation to the bank's actual employee statistics. Describe in what ways these goals and policies may be adjusted to encourage greater minority and women hiring and advancement.

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a.

Describe in detail any formal or informal policies on cash awards, merit awards, bonuses, geographical differentials, travel reimbursements, membership dues in private clubs and associations and any other compensation or benefits programs. List the criteria that are used for eligibility for each program.

b. Provide separately for each category of compensation a list by pay grade, any cash awards, merit awards or any other bonuses paid in 1992. Include in this list a breakdown for minority and women employees.

C. Please provide information on the compensation and benefit expenses for the bank for FY 1992. What are the anticipated compensation and benefit expenditures for FY 1993?

3. With respect to complaints based on any applicable equal employment opportunity or pertinent civil rights laws, and your complaint resolution process:

Describe in detail your complaint resolution process.

b. How many complaints, claims, notices, allegations or charges, informal or formal, were filed for calendar year 1992?

a.

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For each category listed in b. above, please give a breakdown of the grounds alleged for discrimination by category, whether race, religion, sex, national origin, or age, and the status or resolution of the complaint.

Thank you for your attention to and consideration of this matter. I would appreciate a response by September 10, 1993. If you have any questions please do not hesitate to contact Michele McMahon of my staff at (202) 225-4247.

Sincerely,

(
Huly Sugles

Henry B. Gonzalez
Chairman

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I am responding to your letter of August 3, 1993, requesting updated information on equal employment opportunity at the Federal Reserve Bank of New York.

areas.

In response to the specific questions outlined in your letter, we have prepared appendices providing our detailed answers. Appendix l addresses the internal structure of the Federal Reserve Bank of New York; Appendix 2 provides information regarding our compensation and benefit programs; and Appendix 3 provides information on the number of EEO complaints filed and a description of our complaint resolution process.

I am strongly committed to the Bank's equal employment opportunity policy and to the Affirmative Action Program. The Bank has made significant progress toward improving the number and percentage of minorities and females at all levels and in all

Although I am pleased with the progress we have made, I am certain that more can and must be accomplished in the area of affirmative action and view this as an ongoing management challenge.

We have, over the years, made impressive progress in hiring minorities and females, and I am especially encouraged by this year's results. In 1993, we hired a record 100 undergraduates, 41 percent of whom were minorities and 54 percent

We also employed 42 master's level candidates. of this number, 45 percent were minorities and 55 percent females. These results expand the affirmative action foundation which we have continued to reinforce each year and should position us well for the future gains by minorities and women in our senior staff and officer ranks.

women.

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