Being part of and creating community requires an understanding that diversity and inclusion in the financial services industry is an issue of utmost importance. Financial industry leaders, regulators, and corporate stakeholders play a pivotal role in shaping organizational culture to achieve a more inclusive and effective workforce.
Our society also has an extreme need for financial literacy, an issue that has broad implications for our communities and the larger economy. At SIFMA, we are committed to tackle this issue from the ground up, empowering the next generation with an understanding of the market economy and teaching good financial habits that when taught young can last a lifetime.
Fostering a Diverse and Inclusive Financial Industry
www.sifma.org/diversitySIFMA and its members strive to provide firms across the financial services industry with the resources needed to achieve, expand and promote workforce, client, and supplier diversity and inclusion. Through SIFMA’s Diversity & Inclusion Advisory Council, we assist member firms in developing their diversity initiatives to increase inclusion in the workplace and in their efforts to market to diverse customers. For more than 20 years, the Council has conducted a benchmark survey and encourages more of our member firms to participate.
While this clearly is a work in progress for the industry, having conversations and working towards a more diverse and inclusive future is imperative. As such, SIFMA’s Diversity & Inclusion Council has identified six pillars to concentrate the industry’s efforts around diversity and inclusion initiatives:
SIFMA recognizes that achieving diversity is an evolutionary process that requires an ongoing commitment to diversity policies and practices, as well as regular assessments to evaluate the effectiveness of workforce and employment practices, business practices and supplier diversity, and transparency of organizational diversity and inclusion.
Diversity and inclusion in the financial services industry remains a SIFMA Board priority and of utmost importance. SIFMA looks forward to continuing our leadership role in the future.
The SIFMA Foundation
www.sifma.org/foundationFor more than 40 years, the SIFMA Foundation has strengthened economic opportunities for individuals of all backgrounds by increasing their understanding of the benefits of the global capital markets. Through a robust portfolio of dynamic, rigorous online educational programs that introduce young people to the financial industry and emphasize asset allocation, long-term planning, diversification and problem solving, the SIFMA Foundation has leveled the playing field for 20 million youth to participate in the global marketplace and become the next generation of financial professionals.
Year after year, SIFMA member firms’ critical support enables the SIFMA Foundation to cultivate a pipeline of diverse young talent for the sector by equipping elementary through high school teachers to engage their students firsthand in personal finance and the capital markets, prepare them for college and the workplace, and motivate them to explore jobs and careers in the financial sector. In addition, the SIFMA Foundation promotes financial education best practices and thought leadership through multi-sector partnerships, including 13,000 industry professionals who support as volunteers through Invest It Forward® and every member of Congress through the Capitol Hill Challenge™. With its suite of acclaimed programs, the SIFMA Foundation has advanced financial capability for 600,000 students each year, including 300,000 girls and 200,000 students of color.
Teachers consistently speak about the positive influence SIFMA Foundation programs have on their students. The educational impact of the SIFMA Foundation’s Stock Market Game™ (SMG) is unmatched, with proven increases in student engagement and class participation and improved academic performance and financial behavior. An independent study by Learning Point Associates found Stock Market Game students scored significantly higher on mathematics and financial literacy tests than their non-SMG peers. They also found that SMG teachers reported the program motivated them to better plan for their own financial future and engage in financial planning, research, and use of investment products and services.
The SIFMA Foundation offers a variety of volunteer and community engagement activities for financial professionals, in-person and online. From visiting classrooms to judging student essays, the SIFMA Foundation has a volunteer opportunity just right for you. Sign up today and discover specific ways you can bring your passion and expertise into classrooms.
