A federal government watchdog report indicates that while the Consumer Financial Protection Bureau has made progress on its working environment, even more still needs to be done.
Non-executive employees were surveyed about
the personnel practices and culture at the CFPB, which was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Most of the respondents agreed that enthusiasm for the regulator’s mission is high. In addition, most also agreed that immediate supervisors respect and value differences among individuals.
Those were some of the findings described in the report Consumer Financial Protection Bureau – Additional Actions Needed to Support a Fair and Inclusive
Workplace from the Government Accountability Office.
But the survey also uncovered
heightened concerns about fair treatment, trust that employees can raise concerns without fear of reprisal and confidence in complaint processes, among other things.
The GAO said that more than a quarter of the respondents had unfavorable responses. In some CFPB offices,
dissatisfaction was above 35 percent.
“For example, about one-third of respondents disagreed with the statement that success at CFPB is based more on merit than on personal connections or favoritism,” the report said. “Disagreement was 40 percent or more for a few offices that focus on examining institutions and among black respondents.”
But the GAO noted that the bureau
has worked to strengthen personnel management practices and enhance its diversity and inclusion efforts as part of ongoing improvement efforts and in response to challenges identified in 2013 and 2014.
The efforts include expanded management training, newly developed guidance on personnel practices and a new performance management system.
Since previous work by the GAO, the CFPB has
made progress in adopting leading diversity management practices. This includes finalizing a diversity strategic plan, creating employee diversity groups and expanding diversity training.
Plus, the regulator has sought more employee input on
ideas for improving the CFPB’s culture and addressing employee concerns.
In addition, the bureau’s complaint process has been strengthened.
While the GAO noted that the CFPB has taken steps
to measure and communicate progress — additional steps are needed in order to avoid missing opportunities.
The GAO recommends that the regulator should develop a strategy for reporting on progress.
It also recommends that feedback tools be created on its grievance processes in coordination with its employee union.
The
CFPB reportedly concurred with both recommendations.
