Welcome back to another powerful episode of the #WeAreNMSDC Podcast!
Now, I know it’s been a while, but we are back and ready to inform our loyal listeners about upcoming opportunities within supplier diversity and small business.
For our latest interview, we sit down and talk with Mike Wilson, President and Chief Executive Officer and Nancy Betz, Chief Human Resources & Administrative Officer at the Federal Home Loan Bank of Des Moines (FHLBDM). For those not familiar with the organization, FHLBDM “is a member-owned cooperative that provides funding solutions and liquidity to over 1,400 members to support mortgage lending, economic development and affordable housing in the communities they serve.” FHLBDM services “community and commercial banks, credit unions, insurance companies, thrifts and community development financial institutions in Alaska, Hawaii, Idaho, Iowa, Minnesota, Missouri, Montana, North Dakota, Oregon, South Dakota, Utah, Washington and Wyoming, the U.S. territories of American Samoa and Guam and the Commonwealth of the Northern Mariana Islands.”
In addition to their service offerings, this is actually the first CEO of a large organization we’ve had on our podcast, so we want to take time to thank both Mike and Nancy for the opportunity to add the “Conversation with a CEO” tag to our campaign.
Our discussion with FHLBDM was very informative, allowing us to explore upcoming opportunities for small and diverse suppliers, the proper strategy around instituting a supplier diversity program, and FHLBDM’s goal in connecting with the National Minority Supplier Development Council.
So, if you’ve been waiting for another #WeAreNMSDC Podcast, sit back, relax, and enjoy our latest episode with the Federal Home Loan Bank of Des Moines. Don’t forget to leave a comment and tell us what you think.
Federal Home Loan Bank of Des Moines
0:55 Tell us about the Federal Home Loan Bank of Des Moines?
3:05 Are the Affordable Housing subsides dispersed directly by the FHLBDM?
4:55 What kinds of sourcing needs does FHLBDM have? Is working with the FHLBDM similar to working with a public sector or private sector organization?
7:08 What is FHLBDM’s diversity and inclusion story? Why is this topic, and supplier diversity, personally important to FHLBDM leadership?
9:49 Is Corporate America currently in the midst of a Diversity Revolution? (Read the Forbes Article on the subject HERE)
11:29 What skills should potential employees have to ensure a skills gap does not occur in the future?
14:11 How has your membership with NMSDC changed or enhanced how you conduct supplier outreach?
17:38 What’s important for a successful supplier diversity strategy?
19:14 What are some of the benefits and challenges related to supplier diversity?
21:45 How do the various Federal Home Loan Banks work with each other?
24:25 What are the areas FHLBDM services, and does that matter when connecting with suppliers?
25:23 Are there any regulations or certifications suppliers need to do business with FHLBDM?
27:28 What advice would you give other organizations who want to create or strengthen their supplier diversity program?
30:33 How can suppliers connect with FHLBDM?
32:16 Final comments from FHLBDM
WeAreNMSDC 5 Facts
- Fun Fact of the day: FHLBDM is not apart of the government, they don’t make home loans, and they’re not really a bank. But they are located in Des Moines, Iowa! Instead, FHLBDM is a bank for banks. This means they help other lending organizations service customers by providing funding sources to institutions such as credit unions, commercial banks, insurance companies, and more
- When it comes to sourcing, FHLBDM is currently looking for suppliers who service the following categories:
- Technology (developing systems, purchasing computers)
- Finance (risk assessment, validation services)
- Consulting and professional services
- Information security
- Legal Services
- For potential employees, FHLBDM suggests a focus on increasing your technical and analytical skills as well as improving your workplace communication and (if possible) previous finance experience
- FHLBDM is still in the beginning stages of its supplier diversity program. In an effort to better connect with the community, FHLBDM is hoping this year will allow for an expansion of potential small and diverse suppliers as well as a promotion of their organization nationwide. The key point in FHLBDM’s new supplier diversity push is to expand their supplier base. FHLBDM has struggled to connect with small and diverse suppliers in the past, and is now looking for vendors, hoping some can offer new an exciting products or services that will positively impact the organization.
- When implementing a supplier diversity strategy in an organization, to ensure success, an organization needs buy in from the top. For those in leadership roles, be prepared to have a well developed platform and be able to explain the benefits to your organization for employee support. Also be ready to have people question the legitimacy. When it comes to any change, there will always be non believers in the beginning.
Supplierty News in conjunction with the National Minority Supplier Development Council (NMSDC) have teamed up to connect with NMSDC corporate and MBE members for podcast interviews. These conversations will highlight the benefits of supplier diversity programs from the personal experiences of both corporate and minority-owned businesses. If you’re interested in supporting the effort, Follow both Supplierty News and the NMSDC on Twitter, Linkedin, and Facebook, and visit their websites for more information. Also don’t forget to mention #WeAreNMSDC on all social media platforms.