Head of risk assessment at Silicon Valley Bank accused of prioritizing diversity issues

A head of risk assessment at the beleaguered Silicon Valley Bank has been accused of prioritizing pro-diversity initiatives over her actual role after the firm imploded on Friday.

Jay Ersapah – who describes herself as a ‘queer person of color from a working-class background’ – organized a host of LGBTQ initiatives including a month-long Pride campaign and implemented ‘safe space’ catch-ups for staff.

In a corporate video published just nine months ago, she said she ‘could not be prouder’ to work for SVB serving ‘underrepresented entrepreneurs.’

It comes after the firm became the largest bank to collapse since the 2008 financial crisis – disclosing a $1.8 billion loss in its finances.

The spectacular fall from grace puts Ersapah under scrutiny as ‘Head of Financial Risk Management and Model Risk’ for the company’s presence in Europe, the Middle East and Africa. Ersapah was based at the bank’s London office.

Jay Ersapah describes herself as a ‘queer person of color from a working-class background’

Last year professional network Outstanding listed Ersapah as a top 100 LGTBQ Future Leader.

‘Jay is a leading figure for the bank’s awareness activities including being a panelist at the SVB’s Global Pride townhall to share her experiences as a lesbian of color, moderating SVB’s EMEA Pride townhall and was instrumental in initiating the organization’s first ever global “safe space catch-up”, supporting employees in sharing their experiences of coming out,’ her bio on the Outstanding website states.

> Economy