BOLD – Black Organisation for Leadership Development
Recruiting and developing diverse talent is essential to the survival of J.P. Morgan as an institution, and BOLD plays a key role in realising this philosophy. Its mission is to provide employees, especially those of Black heritage, with a collaborative platform to develop and advance through the ranks, encourage the hiring of Black, top talent and add to the ranks of Black senior leaders.
Members are empowered through high-impact career and professional development events and workshops. These include ‘BOLD on the Move’, which features recently promoted Analysts, Associates, Vice Presidents and Executive Directors sharing their promotion journeys. These events help engage audiences by providing them with a clear framework for promotion processes and time-frames and support J.P. Morgan’s Advancing Black Leaders Programme. After each event, the BOLD team compiles and shares best practice and vacant positions across the firm with attendees.
The recent ‘Steering Your Career’ event, in collaboration with the Hispanic and Latino network, featured key global leaders who shared how diversity played a part in who and where they are today. The event brought senior leaders from a range of backgrounds together to engage in constructive dialogue promoting cultural awareness and equipped individuals with knowledge on how to succeed.
BOLD actively partners with HR to support Black, Asian and Minority Ethnic (BAME) recruitment. In 2016, BOLD ran the first Black Heritage Recruitment event, which was attended by over 50 university students. The event helped demystify the application and selection process for highly competitive roles. BOLD has also partnered with the charity ACES to provide members with mentoring opportunities, focusing on Black students from low-income backgrounds, and actively engages with the JPMorgan Chase Foundation on initiatives targeting ethnic minorities.
BOLD’s senior sponsors regularly meet with the Leadership Team to review performance, annual strategy, budget and other areas of focus. A dedicated Relationship Manager works with senior stakeholders internally and externally to build an engaged pool of speakers and champions, and BOLD has also built strong internal partnerships with other diversity networks within J.P. Morgan.
Membership has grown by 73% to over 700 between March 2015 and May 2016, and BOLD has secured a 100% increase in funding. BOLD is now expanding to several new sites across Europe.
Several ‘BOLD on the Move’ attendees have been promoted as a result of the advice shared, creating genuine pathways to career progression for Black, Asian and Minority Ethnic (BAME) staff. Employees appreciate the opportunity to network and learn from others who have been through similar challenges, and BOLD intends to organise more such events at key times during the year. The network is also partnering HR to promote a new monitoring tool capturing employees’ ethnicity, which will improve analysis of how ethnicity impacts Black employees’ career progression.
BOLD’s engagement has also led to a 35% success rate in converting BAME students to ‘client-facing’ internships.