San Francisco Fed Named One of the Bay Area’s Best for Supplier Diversity

The Federal Reserve Bank of San Francisco’s Supplier Diversity program has been named one of the Bay Area’s best by the San Francisco Business Times.

The San Francisco Business Times considered dozens of Northern California companies, with the San Francisco Fed ranking eleventh on a list of 22 honorees.

“There are so many companies with notable supplier diversity programs in the Bay Area. Making this list is a major honor for the Bank,” says Lynn Reddrick, who has managed the San Francisco Fed’s Supplier Diversity program since 2012. “The San Francisco Business Times looks at a variety of factors when evaluating the supplier diversity programs of organizations for this recognition. They look at the involvement of our leadership, our involvement in the community, and, of course, the percentage of vendors we use that are women and minority-owned.”

In keeping with the Federal Reserve’s commitment to building strong and equitable economic opportunities, the Bank has long focused on ensuring women and minority-owned businesses get fair consideration when it looks for new vendors.

“Our program is quite wide-ranging. We provide technical assistance to the business community by hosting workshops and offering educational resources. Diverse companies emerge in a better position to secure contracts with other corporations and the Bank. It’s a great way to help these businesses grow and succeed,” Reddrick explains.

She recognizes the support of senior management as key to the San Francisco Fed’s success in attracting more diverse suppliers.

Chief Financial Officer Deborah Awai, who oversees the Supplier Diversity program, agrees it’s an honor to be on the Bay Area’s Best list. She views it as a good indicator of the Bank’s forward momentum in its efforts.

“This milestone is a result of the Bank’s business areas working together with our Supplier Diversity and Procurement teams. They’re increasing visibility for and building relationships with the communities we serve,” Awai says. “It feels great that our efforts are recognized. We’re going to build on this momentum.”

Read the full story in the San Francisco Business Times.

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The views expressed here do not necessarily reflect the views of the management of the Federal Reserve Bank of San Francisco or of the Board of Governors of the Federal Reserve System.