- New partnership to accelerate pathways to tech careers and increase pipeline for black professionals in financial services
TORONTO and CHICAGO, July 5, 2022 /CNW/ - BMO today announced the deepening of its partnership with the Black Professionals in Technology Network Inc. (BPTN) to focus on developing and hiring Black talent for career opportunities in the financial services industry. BPTN is North America's largest organization dedicated to supporting Black tech and business professionals. As one of the BFUTR Global Tech Summit 2022 founding level partner. The partnership will also create a greater opportunity to engage with over 50,000 Black professionals who are transforming tech through innovation and who will deliver leading employee and customer experiences for the bank.
BMO's Zero Barriers to Inclusion Strategy outlines bold goals within the bank, including hiring targets and equitable access to career development opportunities. Partnering with BPTN represents one of several ways that BMO will build upon its partnership with the Black community to increase representation of Black colleagues and live the bank's commitment to its Purpose, to Boldly Grow the Good, in business and life.
Alongside the BMO Black Professionals Network employee resource group, along with the career advancement programs for Black and Latino employees, this partnership represents an expansion of BMO's work to build and support a diverse workforce.
"In order to build a digitally enabled, future-ready bank with leading efficiency, profitability and loyalty and in order to continue to progress, we need the best team, which is a diverse and inclusive team" said Rebecca Tascona, Head, B2C Platform Strategy & Operations, BMO Financial Group. "As a founding level partner at the BFUTR Global Tech Summit 2022, we will expand our talent reach within the Black tech community to offer meaningful careers building products and experiences that reflect the diversity of our customers and the communities we operate in."
"We are proud to welcome BMO back to the BPTN community and we look forward to growing our partnership over the next three years. We are also very happy to see BMO showing up in such a meaningful way, at the BFUTR Summit 2022, at the Summit Founding Partnership level" said Lekan Olawoye, BPTN founder and CEO. "We look forward to helping BMO build the tools required to attract, hire, retain and promote Black talent throughout their organization."
Through the partnership, BMO senior executives will participate in BPTN's Masterclass events, which offer members insights on important topics within the tech industry. BMO will be presenting multiple events annually in partnership with BPTN to the Black tech community, which will include thought leadership in technology and business, while also enabling hiring of Black tech talent. This partnership will also include presence at future events and access to BPTN's job board and Obsidi community.
"Creating a more inclusive society is foundational to who we are as a company," said Vanessa Lewerentz, Chief Inclusion Officer, BMO Financial Group. "Marginalized people have long faced systemic barriers in and out of the workforce and we are committed to accelerating initiatives that will create meaningful and sustainable change."
This announcement builds on BMO's commitment to an inclusive society with zero barriers. The bank's support for Black Canadians and Americans includes:
- BMO committed $100 million to launch the Business Within Reach: BMO for Black Entrepreneurs lending program.
- Launch of BMO EMpower, a five-year, US$5 billion pledge aimed at addressing key barriers faced by minority businesses, communities and families in the United States. EMpower is a series of long-term commitments designed to drive meaningful change and champion racial equity.
- Creation of the Black and Latino Advisory Council (BLAC), focused on employee experience, advancement, and engagement of Black and Latino talent through dedicated taskforces and partnerships with BMO's Employee Resource Groups (ERGs).
- Zero Barriers to Inclusion 2025 commitment to increase BIPOC employee representation at all levels in Canada and the U.S., including increasing representation of People of Colour in senior leadership roles to 30 per cent or greater in Canada and U.S., respectively.
- Launch of BMORE, a workforce development program, with Chicago non-profit Cara to recruit individuals from underserved and diverse communities into financial services careers.
- Establishment of BMO's Black & Bold series, a series of interviews that highlight trendsetting Black women entrepreneurs.
- Support for The Canadian Journalism Foundation's Black Journalism Fellowship to amplify Black voices and cultivate future leaders.
- Major sponsor of the Canadian Anti-Hate Network and BlackNorth Initiative signatory.
- BMO has partnered with the Black Opportunity Fund (BOF) – a community-led organization committed to removing financial barriers for Black-led businesses.
SOURCE BMO Harris Bank