Radian Group Inc. have released its inaugural Diversity, Equity and Inclusion (DEI) Annual Report, which provides an in-depth review of the organization’s DEI strategy, practices and reporting metrics as of the end of 2021, as well as its plan to build upon progress in the years to come.
The DEI Annual Report serves as a mission statement, roadmap and accountability tool for measuring how the company is working to advance diversity, equity and inclusion throughout Radian and beyond. The report was spearheaded by Radian’s DEI Council, which is sponsored by CEO Rick Thornberry and is comprised of senior leaders from across the enterprise—a composition designed to ensure that its efforts are championed at the highest levels of leadership.
Radian’s rigorous approach to advancing diversity at the company and in the mortgage and real estate services industry was further formalized by the creation of its Inclusion & Diversity (I&D) Council in 2020. In 2021, “Equity” was added to the overall strategy to better reflect the disparities that underrepresented groups face, and the Council set in motion a plan designed to allow all community members to thrive at Radian. In 2022, the company launched a new DEI Ambition, focusing on three pillars of Amplify Voices, Advocate for Access and Practice Inclusion.
“It is critical that we work hard to advance diversity, equity and inclusion both within our organization and beyond,” said Justin Foster, SVP, People Experience. “While there is plenty of work to be done, we remain steadfast in our commitment to meeting our goals, and our annual report will hold us accountable to that progress.”
The report outlines Radian’s efforts to foster an equitable workplace and alleviate disparities in homeownership through training to mitigate bias, demonstrating allyship in action, equitable compensation practices, installation of homeownership affordability initiatives, and much more. In addition to reporting key company statistics, the report provides details about Radian’s Employee Resource Groups (ERGs), which were created to support the company’s commitment to an inclusive and diverse culture and currently include networks supporting women, LGBTQA+ community members, culturally diverse communities, and military veterans.
Emily Riley, DEI Council Chair and EVP, Chief Marketing and Communications Officer, emphasizes in the report: “Through our DEI program’s homeownership affordability initiative, we are dedicated to taking actionable steps to close the homeownership gap for people of color and other marginalized groups. Internally, we are committed to building an inclusive and equitable workplace comprised of diverse teams—and we deeply believe that these efforts will collectively help make our organization and industry as strong as it can be.”
Radian’s meticulous DEI efforts have received recognition from a variety of esteemed third-party organizations. For instance, Radian was recently designated as a Champion of Board Diversity by The Forum of Executive Women for the second consecutive year and was included on Bloomberg’s Gender Equality Index for the fourth consecutive year. The company’s actions to address LGBTQA+ equality in the workplace have been recognized by the Human Rights Campaign, and its focus on board diversity has been recognized by 50/50 Women on Boards. Radian also signed the Mortgage Bankers Association’s Home for All Pledge to promote inclusion in housing and the CEO Action for Diversity and Inclusion pledge, committing to cultivate an environment where all ideas and employees are welcomed.
Radian’s dedication to DEI is a component of its broader Corporate Responsibility Program, which focuses on supporting the company’s commitment to environmental, health and safety, corporate social responsibility, corporate governance, equity, sustainability and other public policy matters relevant to the company and its operations. This program aligns with Radian’s company-wide commitment to continue to be responsible corporate citizens with a positive impact on its employees, customers, environment, stockholders, local communities and other stakeholders.