By Michael Bright, CEO of SFA
As the CEO of the Structured Finance Association (SFA), a trade association with 360+ members representing the entire ecosystem of securitization, we have a lot to do. To that end, SFA is committed to enhancing safeguards that protect the U.S. financial system while also allowing a dynamic financial system to serve the economy. But it’s not all about wonky deal structures and credit enhancement. In our view, creating a more racially and ethnically diverse industry is critical, and doing so aligns perfectly to our organization’s mission by ensuring more people, especially those in underserved communities, are better supported through the economic cycle.
Here’s an excerpt from my piece in Thrive Global:
“While some progress has been achieved in recent years, we need to do more — much more — and we need to do it faster. And I believe this matters on a very fundamental level. I believe, and research suggests, that a more diverse financial services industry is one that will serve more people better, through the economic cycle, and that this is vital for underserved communities and the entire nation in both good times and bad.
If we succeed in building diverse leadership in the finance industry, the industry’s book of business will grow faster. But, more importantly, its quality will be stronger and safer. Because diversity in the way we think and approach markets — which would be enhanced by a more diverse workforce — will provide much needed context as well as insights that white male decision makers who all look like me could miss.”
Read the whole op-ed to learn about the important role diversity plays in ensuring the nation’s stable and successful financial future.