In her first year, Chicago City Treasurer Melissa Conyears-Ervin’s office revolutionized the way cities invest in, and contract with, financial institutions. Her office became the first in the nation to create a scorecard entitled the Chicago City Treasurer Broker Dealer Diversity Scorecard (Scorecard) that was designed to measure a firm’s leadership efforts in Diversity, Equity and Inclusion (DE&I) as well as Corporate Social Responsibility (CSR) to assist in the Broker Dealer selection process. This year, the process is enhanced with Version 2.0 that will assess 30 percent of the selection based on the firm’s DE&I and CSR efforts. “Chicago is the third-largest city in the U.S. with 2.7 million residents; 30 percent of our population is Black and 30 percent is Hispanic, “explains Chicago City Treasurer Melissa Conyears-Ervin. “Our Scorecard is about leveraging our taxpayer dollars for impact. My mission is to have all firms we do business with to care about and improve their diversity, equity, and inclusion. This office is not about just making money; we are also about changing lives.” The scoring of the firms was broken down as follows:

• Seventy percent of the score is assigned to market capabilities and execution metrics across nine asset classes.

• Twenty percent of the score is based on Diversity Programming efforts, demographics and policies.

• Ten percent of the score is based on firm efforts related to Corporate Social Responsibility and Philanthropy.

• An example of questions posed to the firms:

• Is the percentage of underrepresented, racial minorities in all roles within your U.S. Enterprise above 20 percent?

• Is the percentage of underrepresented, racial minorities in executive roles within your U.S. Enterprise above 10 percent?

• Is the percentage of women in executive roles within your U.S. Enterprise above 30 percent?