STRATEGIC PLAN AND DIVERSITY LEADERSHIP. How does the firm s leadership communicate the importance of diversity to everyone at the firm?

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1 VANGUARD 1 P.O. Box 2600 Valley Forge, PA Phone: (610) Fax: (610) DIVERSITY LEADERSHIP & CAMPUS RECRUITMENT Daryl Fasig Diversity Manager daryl_fasig@vanguard.com STRATEGIC PLAN AND DIVERSITY LEADERSHIP How does the firm s leadership communicate the importance of diversity to everyone at the firm? communicates the importance of diversity through s, articles in our internal intranet, newsletters and meetings. Who has primary responsibility for leading overall diversity initiatives at your firm? Sharon Barnes. Does your firm currently have a diversity committee? Yes. Does the committee s representation include one or more members of the firm s management/executive committee (or the equivalent)? Yes. How many senior managers are on the committee, and how often did the committee convene in furtherance of the firm s diversity initiatives in 2007? Total senior managers on committee: 14 Number of diversity meetings annually: Vault.com, Inc.

2 If you have more than one diversity committee, please list. Various divisions throughout the company have diversity councils and diversity advancement committees. Does the committee(s) and/or diversity leader establish and set goals or objectives consistent with management s priorities? Yes. Has the firm undertaken a formal or informal diversity program or set of initiatives aimed at increasing the diversity of the firm? Yes, formal. How often does the firm s management review the firm s diversity progress/results? Quarterly. How are the firm s diversity committee(s) and/or firm management held accountable for achieving results? The committees meet quarterly with the managing directors and their teams to report progress with metrics citing increases in hiring diverse individuals and promoting diverse employees into management. The committees also track the completion of diversity awareness and training programs for employees throughout the company. The report is presented annually to the CEO with recommendations for continued progress. How are the members of the diversity committee or committees involved in diversity activities? Yes. Our diversity leadership team (DLT) members have been incredibly active, especially in our corporate-wide events. Last year we hosted a gender dynamics panel discussion where representation from the DLT was a critical piece to the success of the standing-room-only event. Additionally, as part of our year-end Diversity Summit, several members of the DLT participated in another panel discussion more specific to s role as it relates to diversity, inclusive of our goals and strategies. Often times members of the DLT are also heavily engaged within their own businesses and have partnered with diversity managers to co-facilitate diversity trainings and/or Visit Vault at for insider company profiles, expert advice, career message boards, expert resume reviews, the Vault Job Board and more. 299

3 to support other activities. DLT members have also been featured in videos (filmed internally) about what diversity means at. RECRUITING Please list the schools/types of schools at which you recruit. Ivy League schools: University of Pennsylvania Public state schools: Arizona State University, New Mexico State University, North Carolina A&T State University, North Carolina State University, Northern Arizona University, Ohio State University, Penn State University, Rutgers University, San Diego State University, Temple University, University of Arizona, University of Cincinnati, University of Delaware, University of Florida, University of Central Florida, University of Maryland, University of North Carolina: Chapel Hill Charlotte and Greensboro, University of Pittsburgh, University of South Carolina, University of Texas at El Paso, Virginia Tech, West Chester University Private schools: Bucknell University, Carnegie Mellon University, Drexel University, Johnson C. Smith University, La Salle University, Lehigh University, Rensselaer Polytechnic Institute, Rochester Institute of Technology, Saint Joseph s University, Spelman College, Stevens Institute of Technology, Villanova University Historically Black colleges and universities (HBCUs): Hampton University, Morgan State University, Johnson C. Smith University, North Carolina A&T State University, Spelman College Do you have any special outreach efforts directed to encourage minority students to consider your firm? Hold a reception for minority students Conferences: National Association of Black Accountants, National Association of Securities Professionals, National Black MBA Association, National Hispanic Business Association, National Society of Black Engineers, National Society of Hispanic MBAs, Society of Hispanic Professional Engineers, Urban Financial Services Coalition Advertise in minority student association publication(s) Participate in/host minority student job fair(s) Sponsor minority student association events Firm s professionals participate on career panels at school Outreach to leadership of minority student organizations Vault.com, Inc.

4 Scholarships or intern/fellowships for minority students What activities does the firm undertake to attract women and minorities? Partner programs with women and minority banking associations: National Association of Securities Professionals (NASP), Urban Financial Services Coalition (UFSC) Conferences: attends and participates in: National Association of Black Accountants (NABA) national and regional conferences, National Black MBA Association (NBMBAA) national conference, National Hispanic Business Association (NHBA), National Society of Black Engineers (NSBE), National Society of Hispanic MBAs (NSHMBA) national conference, Society of Hispanic Professional Engineers (SHPE), Urban Financial Services Coalition (UFSC) national and/or regional conferences depending on location of the events Participate at minority job fairs Seek referrals from other professionals Utilize online job services: Postings on diversity-focused sites (i.e., AsianJobs.com, DiversityInc.com, HBCU job boards, HispanicJobs.com, LatPro.com, NABAInc.org, NAWMBA.org, NBMBAA.org, NSBE.org, NSHMBA.org, SHPE.org) In years past, we have partnered with the Society of Women Engineers (SWE), and last year SWE Philadelphia featured The Women in Information Technology Scholarship on the scholarships page of its website. We are currently evaluating and developing a partnership with the Anita Borg Institute for Women and Technology (Grace Hopper Conference). Do you use executive recruiting/search firms to seek to identify new diversity hires? Yes. List all women- and/or minority-owned executive search/recruiting firms to which the firm paid a fee for placement services in the past 12 months: LaMonte Owens, Inc. Who is the person in charge of attracting women and minorities to the firm for lateral recruiting? It is a collective effort between Human Resources Employment and Corporate Diversity. Visit Vault at for insider company profiles, expert advice, career message boards, expert resume reviews, the Vault Job Board and more. 301

5 INTERNSHIPS College to Corporate Internship Program Deadline for application for the internship: March 15th Number of interns in the program in summer 2007: 60 Pay: Competitive Length of the program: 10 weeks Percentage of interns in the program who receive offers of full-time employment: 72 percent Website for internship information: or careers.vanguard.com/vgcareers/jobs/internships.shtml M.B.A. Internship Program Deadline for application for the internship: April 30th Number of interns in the program in summer 2007: Program formalized in summer 2008 Pay: Competitive Length of the program: 10 weeks Percentage of interns in the program who receive offers of full-time employment: See above. Website for internship information: or careers.vanguard.com/vgcareers/jobs/internships.shtml offers a few internship opportunities to help students gain real-world experience while they study. They include: College to Corporate Internship Program business. We offer full-time, paid internships throughout the company to students with demonstrated leadership abilities. Students in all majors who meet the program s criteria are encouraged to apply. Interns are assigned to a department based on their experiences, as well as our business needs, all the while developing a broad understanding of s business. Interns support business units and assist in projects that will impact services to our shareholders. IT College to Corporate Internship Program. College students majoring in an information technology-related field can jump start their careers by participating in our IT College to Corporate Internship Program. This program offers promising Vault.com, Inc.

6 students exposure to a number of exciting career paths at in our Pennsylvania and North Carolina locations. is committed to the IT field: Roughly one-quarter of our employees are dedicated to technology and over onethird of our operating budget is allocated to IT. M.B.A. Summer Internship Program. The MBA Summer Internship Program is for first-year, full-time MBA students with demonstrated academic achievement and exceptional communication, analytical, leadership and interpersonal skills. A full-time, paid internship at provides an unparalleled introduction to a range of rewarding opportunities and to professionals who can further your career. Typical areas of concentration for M.B.A. candidates are finance, investments, marketing, operations, relationship management and project management. SCHOLARSHIPS Scholarship Program for Minorities, IT Women in Information Technology Scholarship Program (ITWIIT) Deadline for application: November 29, 2008, will open again in fall 2009 with a tentative deadline of November 30, 2009 Scholarship award amount: Scholarship up to $10,000; ITWIIT up to $8,000 Website for scholarship: or The Scholarship Program provides scholarships to minority students pursuing studies in business, finance, economics, accounting, information technology and liberal arts. also established an additional scholarship program to assist female students entering their senior year of college who are majoring in computer science, computer engineering, web design or related technical engineering disciplines. Students received as much as $10,000 for use toward college tuition, fees, books and supplies. AFFINITY GROUPS We do not have company-sponsored affinity groups; however, we have established groups that are more informal. They include African-American, Hispanic, Asian and women s groups. These groups meet informally to network, attend events and share resources and success stories. Visit Vault at for insider company profiles, expert advice, career message boards, expert resume reviews, the Vault Job Board and more. 303

7 ENTRY-LEVEL/TRAINING PROGRAMS LEADING TO FULL-TIME OPPORTUNITIES AND ROTATIONAL PROGRAMS Accelerated Development Program Length of program: 15-month, rotational program Geographic location(s) of program: Valley Forge, Penn; Charlotte, N.C., and Scottsdale, Ariz. Details of the program: Four rotations over 15 months with leadership and professional development sessions between each rotation A Capstone project Tuition reimbursement Formal mentoring Structured training cadres Multiple rotations Book discussions Guest speakers, which include many leaders Acceleration into Financial Professional Program Length of program: 12-month, rotational program Geographic location(s) of program: Valley Forge, Pennsylvania Details of the program: Three rotations over 12 months Leadership and professional development sessions between each rotation A Capstone project Tuition reimbursement Formal mentoring Structured training cadres Multiple rotations Book discussions Guest speakers, which include many leaders Technology Leadership Program Length of program: One year Geographic location(s) of program: Valley Forge, Penn. and Charlotte, N.C Vault.com, Inc.

8 Details of the program: Leadership and professional development sessions between each rotation Tuition reimbursement Structured training cadres Guest speakers, which include many leaders M.B.A. Development Program Length of program: 15-month, rotational program Geographic location(s) of program: Valley Forge, Penn. Details of the program: Three rotations over 15 months Leadership and professional development sessions between each rotation Networking with senior leadership Building general management and leadership skills. Tuition reimbursement Formal mentoring by senior leader Structured training cadres Multiple rotations Guest speakers, which include many leaders DIVERSITY MISSION STATEMENT We at believe that diversity in the workplace is both a virtue and strength. Accordingly, our mission is to hire and maintain a diverse workforce that reflects our community and society at large. In our corporate affirmation that even one person can make a difference, we welcome and value contributions from a diversified crew in the belief that a variety of perspectives, and the interplay between diverse perspectives, benefits us all as a company and as individuals. ADDITIONAL INFORMATION s commitment to diversity is supported and driven by the diversity leadership team (DLT), corporate diversity team, and diversity advancement committees (DACs). Appointed by our CEO, the DLT consists of a core team of senior leaders throughout the organization. The DLT sets objectives, ensures that they are aligned with business strategies, and holds leaders accountable for achieving success. Led by our chief diversity officer, the corporate diversity team drives diversity strategy through education, engagement with leadership teams, relationships with organizations and communities, and research to ensure that stays on the cutting edge of diversity theory and best practices. DACs Visit Vault at for insider company profiles, expert advice, career message boards, expert resume reviews, the Vault Job Board and more. 305

9 consist of employees at all levels and operate within departments to plan and stage cultural events such as lectures, exhibits, performances, and activities. Through a partnership between corporate diversity and the award-winning University, we offer a full curriculum of training that moves employees along the diversity continuum from awareness to maturity. Our core curriculum consists of more than a dozen sessions that serve as critical components of leadership training, as well as stand-alone offerings for all employees. has been recognized frequently as a great place to work by outside organizations and publications. We are very proud of the recognition we have received and consider it validation of our belief that is an employer of choice. We have received high marks for our strong corporate culture, training and development programs, and employee-friendly policies. At, we believe that diversity in the workplace is both a virtue and strength. Accordingly, we strive to hire and maintain a diverse workforce that reflects our community and society at large. has recently received the following accolades. We look forward to seeing this list continue to grow. AARP magazine recognized as one of the best employers for workers over age 50. Diversity MBA magazine recognized as one of the year s 50 best companies for diverse managers to work. was ranked No. 22 on the list and was acknowledged for employing intentional diverse strategies that are based on strong inclusion practices and encourage diversity leadership. Black Collegian Online recognized as one of the top 100 employers for the class of was ranked No. 46 on the list. Training magazine recognized as one of the top 125 companies for training. ranked No. 6 on the list in recognition of our commitment to learning and development. InformationWeek magazine recognized as one of the most innovative technology companies. In April 2009, Savoy Professional magazine recognized as one of the top 100 companies for black professionals. We know the work is never done, but s commitment to diversity and inclusion is unwavering, and we are dedicated to creating a workplace where all employees look forward to the journey ahead Vault.com, Inc.