Organization Name: Freddie Mac
Headquarters Location: Mclean, Virginia
Organization Website: www.freddiemac.com
Industry: Consulting–Financial Services
Number of Employees: 6,892
CEO: Michael DeVito
Diversity Leader: Wendell Chambliss
Diversity Leader Title: Senior Vice President and Chief Diversity and Inclusion Officer
1. Number of minority, women, or members of other underrepresented groups that are currently C-level executive at Freddie Mac: Three or our 12 leaders are racial or ethnic minorities.
- Two of the three were added to the C-Suite in the past 3 years.
- Three of the 12 leaders are women and were added to the C-Suite in the past three years.
2. Number of minority, women, or members of other underrepresented groups that currently serve on the Freddie Mac board of directors: Four of 12 board members are racial or ethnic minorities.
- Three individuals from these groups were added to the board of directors in the past three years (2019 – 2021)
- Two board members that are racial or ethnic minorities
- One board member that is a woman
3. The diversity make-up of Freddie Mac:
Freddie Mac is a majority-minority company. At yearend 2021, 56 percent of the workforce identified as a racial or ethnic minority. Women make up nearly half of the organization. At year-end 2021, 45 percent of the workforce identified as a woman.
4. Does Freddie Mac have a Chief Diversity Officer who reports directly to the CEO?
Freddie Mac has had a Chief Diversity Officer role for more than 10 years. In April 2022, Wendell Chambliss was named the Chief Diversity and Inclusion Officer reporting directly to the CEO responsible for a team of individuals focused on workforce diversity, supplier diversity, diversity in financial transactions and community engagement.
5. Do you have a robust pipeline-to-leadership program in place for women and members of minority and other underrepresented groups?
Freddie Mac attracts and sustains a pipeline of diverse candidates by partnering with diverse organizations, Hispanic Serving Institutions and Historically Black Colleges and Universities that create career opportunities for underrepresented populations, including Thurgood Marshall College Fund, HomeFree USA’s Center for Financial Advancement (HBCU Students), Hispanic Heritage Foundation, Hispanic Scholarship Fund, PowerToFly (Women in Tech), FairyGodBoss (Women), and Next for Autism.
6. Is Freddie Mac pursuing, or have you achieved, pay parity for women, minorities, and other underrepresented groups?
Freddie Mac implements competitive compensation programs and practices to help ensure employees are paid similarly for similar work without respect to gender, race or ethnicity.
7. Freddie Mac’s Mission: We serve America’s homebuyers, homeowners, and renters by equitably providing liquidity, stability, and affordability to the housing market.
- The mission statement is chartered by Congress and published prominently on FreddieMac.com
8. What is your Diversity and Inclusion statement?
At Freddie Mac, Diversity, Equity, and Inclusion (DEI) is more than a business imperative. It’s a mindset. As leaders in DEI, they are committed to promoting equity, igniting innovation through diverse perspectives, and instilling a culture where people feel comfortable to be their authentic selves in the workplace. Most importantly, they are committed to encouraging equitable and sustainable homeownership and rental opportunities for traditionally underserved Black and Latino communities.
- The DEI statement is shared with their employees. The statement is also shared with jobseekers and to the public.
- The DEI statement is part of Board-approved DEI strategic plan which informs their hiring practices and interactions with employees, customers, and the community.
9. What programs, policies, or initiatives does Freddie Mac currently have in place to ensure fairness and inclusion in the recruitment and hiring process?
- Unconscious bias training for HR team and hiring managers
- Cultural competence training for HR team and hiring managers
- Diverse hiring team
- Inclusive job descriptions
- Sourcing from nontraditional talent pools and diverse groups
10. What is Freddie Mac’s Culture Statement?
Grow talent for today and tomorrow.
- It is shared with jobseekers, employees, and the public via FreddieMac.com and their intranet.
- The culture statement guides the HR strategy of: Attract, Retain and Grow Talent for Today and Tomorrow. Freddie Mac’s focus is to ensure every potential employee understands the culture and what drives their key successes. A video was created to capture those key authentic moments: https://careers.freddiemac.com/us/en/our-people
11. Current ERGs supported by Freddie Mac: Ten business resource groups (BRGs): Abilities, ARISE, Green, HOLA, InspirASIAN, Military Appreciation, Pride, Rising Leaders, and WIN.
BRGs are voluntary, employee-led organizations that foster a diverse, inclusive workplace aligned with Freddie Mac’s mission, values, competencies, business goals and Board-approved DEI strategic plan.
12. Does Freddie Mac have a supplier diversity program in place?
As Freddie Mac’s DEI efforts continue to evolve, they’re committed to ensuring that supplier diversity grows. They have supported diversity in contracting for more than 25 years – awarding millions of dollars in contracts to diverse suppliers that provide the highest-quality products and services at the most competitive prices. They develop qualified diverse suppliers.
- Through the Supplier Academy, they help diverse suppliers learn how to strengthen their business to be more competitive for opportunities with Freddie Mac and other companies.
- Freddie Mac offers them expert advice on marketing their businesses and introduces them to decision-makers, including the Enterprise Supply Chain (ESC) category managers – the experts who guide the competitive contracting process. *Since the program’s creation in 2016, more than 50 participants have completed the program, and new spending with their small businesses totals more than $55 million.
13. Honors/recognition for Freddie Mac’s diversity efforts awarded during the past three years:
Freddie Mac has a long-standing commitment to diversity and inclusion. They are very appreciative of the recognition they have received for their community work, which includes support of individuals and companies that excel and inspire service.
They have earned external recognition for our efforts.
- 100% score on Human Rights Campaign Corporate Equality Index 2022 as a Best Place to Work for LGBTQ equality. Freddie Mac has received this score since 2010.
- Many of Freddie Mac’s leaders have been recognized for their individual contributions to DEI in their discipline and the housing industry by Profiles in Diversity Journal and HousingWire