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For immediate release
Contact: Katherine Q. Dibling, 215-574-4119
Philadelphia, Pa. — The Federal Reserve Bank of Philadelphia announced today that Mary Ann Hood, senior vice president of Human Resources and the Bank’s Equal Employment Opportunity officer, has been appointed director of its new Office of Diversity and Inclusion.
The Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 required each Reserve Bank and the Board of Governors, as well as other regulatory agencies, to establish an Office of Minority and Women Inclusion (OMWI) and name a director by January 21, 2011.
“Our new Office of Diversity and Inclusion will fulfill the requirements of the Dodd–Frank mandate while recognizing the ongoing commitment we have made to diversity initiatives at the Philadelphia Fed in recent years,” said Charles I. Plosser, president and CEO of the Federal Reserve Bank of Philadelphia.
The Bank’s new office will develop standards and procedures to ensure the inclusion of minorities and women in all matters relating to diversity in management, employment, and business activities. To support the new role, the office will include additional staff to help fulfill the new office’s duties as well as supporting the ongoing initiatives.
In recent years, the Philadelphia Fed 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 program to increase women- and minority-owned businesses in the Bank’s supplier ranks.
Hood has been senior vice president of Human Resources and EEO officer since January 2009. She was promoted to vice president in 2004 and, since then, has overseen the Bank’s Human Resources Department, which includes the medical unit, food services, and the electronic Professional Education Program (ePEP) for Federal Reserve System employees. She currently serves on the Diversity Advisory Group overseeing the Bank’s Diversity Council and chairs the Federal Reserve System's Subcommittee on Human Resources.
Hood first joined the Human Resources Department in 2000, after serving as an assistant vice president in the Bank’s Checks Department. Hood has been with the Federal Reserve System since 1982 when she started working for the New Orleans branch of the Atlanta Fed. She also worked for the Memphis branch of the St. Louis Fed before joining the Philadelphia Fed in 1990. She has a bachelor’s degree from Hood College, Frederick, Md., and she holds a master’s degree in human resource development from Villanova University.
The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank 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.