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Philadelphia, PA — The Human Resources (HR) Department of the Federal Reserve Bank of Philadelphia received the “HR Award for Excellence in Diversity” from the Delaware Valley HR Department of the Year Award organization. The award is given to an HR department that prioritizes the integration of diversity practices and training into its institutional culture. This award series was founded in 1998 by the Rosen Group, an organization that recruits and assesses HR talent.

“Our Office of Diversity and Inclusion is strategically housed within our Human Resources Department,” said Karen Vaughn, associate director of the Bank’s Office of Diversity and Inclusion. “This approach ensures that our diversity initiatives reach every Bank employee, fostering a culture of inclusion.”

The Philadelphia Fed’s Office of Diversity and Inclusion, led by Senior Vice President Mary Ann Hood, develops standards and procedures to ensure the inclusion of minorities and women in all matters relating to diversity in management, employment, and business activities. In recent years, Hood said the Bank has instituted several initiatives to support its commitment, including a Diversity Council of Bank employees who meet regularly to foster a greater appreciation of workplace diversity, an active diversity recruitment program, and a supplier diversity program that is committed to attracting minority-owned vendors.

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware.