Big Bank Pushes DEI Initiatives in Dallas

Wall Street bull | Photo by Spencer Platt/Getty Images

Goldman Sachs, one of the nation’s largest banks, is pushing “diversity, equity, and inclusion” programs in Dallas, according to its employment listings for Dallas and Salt Lake City. 

The firm has posted several open positions on ZipRecruiter for its Human Capital Management (HCM) division that involve promoting DEI initiatives, including a diversity recruiting analyst. The role involves recruiting professionals from “traditionally underrepresented communities,” including “women, Black, Hispanic/LatinX, LGBTQ+ professionals, veterans, people with disabilities, and first-generation university students.”

The successful candidate will be expected to “reinforce the firm’s overall commitment to diversity, equity and inclusion” and “support internal clients and recruiting teams in developing an integrated diversity strategy across different divisions.”

Goldman Sachs is also advertising on the job search platform for a vice president of talent and DEI insights and analytics. The job description says the person in this role will “[measure] the success of various talent programs with a DEI lens” and support “the development of DEI initiatives across all HCM talent processes and other projects.”

Similar positions of lower rank are also listed on ZipRecruiter. The DEI associate’s responsibility is to “[d]esign and develop world class, innovative, DEI strategies and execute initiatives with proven impact and external profile.” 

Goldman Sachs states in its company bio: “We believe who you are makes you better at what you do. We’re committed to fostering and advancing diversity and inclusion in our own workplace and beyond.” One way the firm is taking the DEI agenda beyond its workplace is by establishing a “Fund for Racial Equity.” 

The fund, which the company launched with an initial investment of $10 million, was created to “support the vital work of leading organizations addressing racial injustice, structural inequity and economic disparity,” according to the company website. It builds upon the more than $200 million the bank has already contributed over the last decade to organizations supporting communities of color, the company claims. 

The fund is intended to support organizations that

  • Promote equal opportunities for people of color.
  • Work to end harsh policies and radical inequities in the criminal justice system.
  • Advocate for the end of “structural inequality and racism to create a more just society.”
  • Work to improve educational outcomes for students of color.

Goldman Sachs has also released a research paper proclaiming the merits of a “Black Womenomics” investment strategy as a means of “accelerating change.” 

These listings follow a recent investigation by The Dallas Express into a job listing for Kraft Sports + Entertainment that appeared to exclude white applicants from being considered for employment. DX contacted ZipRecruiter, the listing website, to ask about potential civil rights violations. ZipRecruiter responded by saying it would take the job posting down. 

The Goldman Sachs job postings are just one thread in a growing tapestry of political and legal debate about DEI.

Proponents of these initiatives maintain that a “focus on DE&I is not only known to positively impact company culture, but it can impact financial performance as well,” as Forbes put it, noting, “Employees who feel accepted and free to be themselves at work are happier, which often results in greater contributions and higher productivity.” 

While diversity offices are not prohibited in the private sector in Texas, the state has banned DEI in higher education institutions in the public sector. Previous investigations by DX have identified numerous potential violations of a state law prohibiting DEI programs at Texas public universities.

Dallas College, the University of Texas at Austin, Texas A&M, and five other universities were identified as having potentially violated the statewide DEI ban. 

Goldman Sachs was contacted for comment but did not respond prior to the time of publication. 

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