4 minute read
SUPPLIER DIVERSITY AT BMO
By Carol Attak
At BMO, our purpose is to Boldly Grow the Good in business and life, and through that purpose we are committed to creating an inclusive, more just society - one with zero barriers to inclusion.
Not just in our own supply chain but across Canada and beyond, BMO’s supplier diversity program has a long-standing commitment to creating and developing opportunities for Women Business Enterprises (WBEs). The program is well-established and includes tracking spend and networking with certified diverse suppliers. We provide guidance and best practices to our prime suppliers around joining advocacy councils (like WBE Canada) and assistance in finding diverse suppliers to engage. In addition, supplier diversity is embedded in BMO’s sourcing process, and sourcing inclusion is a metric that is measured and reported on. BMO’s support of both WBE Canada and WBEs runs deep. In addition to sponsoring WBE conferences and events, such as WBE Canada’s annual conference and SDAC Supplier Diversity Summit, members of our supplier diversity team can frequently be found speaking at industry panels, sharing best practices with peer organizations and providing guidance and knowledge wherever they can. What’s more, the team has participated in matchmaking events that connect womenowned businesses with the bank’s sourcing directors, business decision makers, and BMO’s Christine Canning, who sits on WBE Canada’s board of directors. While already successful, the supplier diversityprogram at BMO continues to expand. In late 2020, we embarked on several ambitious growth initiatives that will have wide-reaching effects on the supplier diversity landscape in both Canada and the U.S. We started by expanding our existing U.S. supplier diversity council into the BMO Enterprise Supplier Diversity Council. Not only did this expansion include adding a Canadian supplier diversity focus, but the leadership on the council was enhanced to include executives from each line of business and several functional areas that did not traditionally have a seat at the table. Now there are nine senior leaders serving as executive sponsors, ensuring that supplier diversity is top of mind across the bank.
In 2020, BMO set supplier diversity goals for each line of business by creating nine working committees, who meet monthly to identify opportunities to grow diverse spend across BMO by shifting non-diverse spend to existing diverse suppliers, reviewing upcoming sourcing events, and working with diverse-owned businesses that are not currently certified to get their certifications.
Working with diverse suppliers not only helps us live our purpose, but is also integral to meeting the needs of our shareholders, customers and communities that BMO serves.
This expansion of supplier diversity across the bank also coincides with the launch of BMO’s diverse business development program, BMO Elevate. This 12-month program focuses on connecting suppliers to BMO Category teams, providing mentorship sessions with BMO Executives and educating a select group of diverse businesses in a variety of ways. It allows them to showcase their company, capabilities and innovations with BMO decision-makers, while also receiving help to grow their business. Of the 17 suppliers included in the first cohort of this program, four are WBE Canada certified, and more will be included as BMO Elevate grows over the next few years. Finally, BMO for Women is an ongoing sponsor of the WBE Canada annual conference, and the team regularly holds workshops and events for continued development. BMO for Women recently announced the expansion of the 2021 grant program for women-owned businesses across North America, in collaboration with Deloitte. As part of this year’s program, we have pledged $200,000 in grants and will recognize women-owned businesses across North America for their contribution to social, environmental and/or economic sustainability outcomes through their organizations’ policies, practices or products. Through our numerous innovative programs, and our commitment to supplier diversity, BMO is creating opportunities and opening doors for WBEs in Canada and across North America. New initiatives and extensive collaboration have ensured the continued success of BMO’s supplier diversity program, while continuing to support the growth and development of women owned businesses across BMO’s supply chain and beyond.
Carol Attak is the Senior Manager of Global Supplier Diversity and Sustainability at BMO. In her role, Carol is responsible for envisioning, implementing, and leading the global Supplier Diversity program for BMO, steering the strategy, communication, performance management, and all enablers for BMO to be recognized as a leader in supplier diversity. Carol has been an active leader in advancing Supplier Diversity goals and initiatives through her 13 years managing Accenture’s program. She currently serves as the Board Chair of the National Gay & Lesbian Chamber of Commerce (NGLCC).
Making it possible.
Every day, Magna works to make the impossible possible – on the roads and in our communities. We are dedicated to supporting programs and organizations that make a difference in people’s lives and the world around us.
We are proud to sponsor WBE Canada dedicated to creating networking, training and promotional opportunities for Canadian women-owned businesses, buyers and leaders from large corporate and government organizations.
Together we can make it possible.
REALIZE YOUR GLOBAL POTENTIAL
Safely and confidently grow your business abroad with financial solutions and expert advice from Export Development Canada. Learn how we’re helping Canadian women-owned and -led businesses succeed on the world stage.
