1. Diversity in the Financial Services Industry
Banking and the Economy:
A Forum for Minorities in Banking
September 28, 2018

3. Research Objectives
What available data show about trends in management-level diversity from
Trends in diversity among potential talent pools

4. Progress in Minority Representation in Senior Level Management Slower Compared to Lower Level Management

5. Decline in African-American Representation with Asian and Hispanic on the Rise

6. Representation of Minorities in Management Varied by Sector

7. Representation of Women in Management Varied by Sector

8. Representation of Minorities in Management Positions at Financial Services Firms of Different Sizes, 2007 and 2015

9. Representation of Women in Management Positions at Financial Services Firms of Different Sizes, 2007 and 2015

10. Talent Pools for Financial Services Positions Were Diverse
African-American
Asian
Hispanic
Other

11. Minority Women Were Earning a Greater Share of Advanced Degrees than Minority Men
Asian
Hispanic
African-American
Other

12. The Internal Pipeline Was Racially and Ethnically Diverse
Asian
Hispanic
African-American
Other

13. Women Comprised Half of the Professional Positions in the Internal Pipeline
Asian
Hispanic
African-American
Other

14. What’s Going On?
EEOC data not designed to capture the causes behind the trends.
Point in time
Lacks information on staff movement
Lacks data on firms with fewer than 100 employees

15. Challenges to Workforce Diversity in the Financial Sector
Recruiting
Negative perception of the financial industry
Recruiting strategy
Competition
Retention
Lack of women/minorities (mentors/role models) in management positions
Resistance from middle-management
Unconscious bias

16. Strategies for Improving Diversity
Recruiting
Broad-based recruiting
Establishing relationships with professional associations and student groups
Retention
Establishing affinity groups
Unconscious bias training
Establishing management-level accountability

17. Other GAO Products

18. Contact
Daniel Garcia-Diaz, Director Financial Markets & Community Investment U.S. Government Accountability Office