Bank of America selected as 2022 NJCU Leadership Awards Innovation Honoree

Three individuals also will be honored

Bank of America will be recognized as one of four honorees during the 2022 NJCU Leadership Awards, acknowledged in the Innovation category, according to an announcement from New Jersey City University on Friday.

The institution annually celebrates those who have made a lasting impact on society in the Jersey City and the greater Hudson County area. This year’s celebration will take place at 6 p.m. May 31 at the Liberty House, 76 Audrey Zapp Drive in Jersey City.

Alberto Garofalo, president, Bank of America New Jersey, will accept the honor on behalf of the bank.

Alberto Garofalo. (File photo)

“It is an honor to receive the NJCU Leadership Award for Innovation in recognition of Bank of America’s commitment to delivering industry-leading capabilities and financial solutions that are accessible to all,” Garofalo said. “Our approach to responsible and sustainable growth includes advancing our capabilities to better serve communities and clients alike. As we move toward a digital-forward future, we look forward to continuing to find new ways to help people live better financial lives.”

Three others will be honored, including Assembly Deputy Majority Leader Angela V. McKnight (D-Jersey City) in the Service category; developer Paul Silverman of Jersey City-based real estate company Silverman, in the Arts category; and John J. Moore ’56, the former chair of the board of trustees, longtime trustee emeritus and NJCU Athletics Hall of Famer, posthumously in the Legacy category.

In January 2022, NJCU and Bank of America announced a historic partnership, whereby the company will invest $560,000 in the NJCU School of Business and its Career Services Center. This unique grant is the largest single corporate gift and most significant investment in career development in NJCU’s history. The investment is in the form of a four-year grant that will address racial, ethnic and income inequality and help students of color successfully complete the education and training necessary to enter the workforce and embark on a path to success.

The award honors Bank of America New Jersey for its demonstrated commitment to providing opportunities, advancing economic mobility and giving back to the people that live and work in the communities it serves — true leadership rooted in a commitment to community, the advancement of racial equality, and economic opportunity.

The innovative grant bestowed by the bank to NJCU truly is a game-changer in that it will enable the NJCU School of Business to launch the Career Readiness and Placement Program.

The CRPP will challenge students of color to address real-world business problems or case studies by engaging them in a comprehensive, interdisciplinary research and problem-solving experience. Career readiness programming will incorporate microcredentialing in critical skill areas such as Google Analytics and Bloomberg Market Concepts, connect students with industry mentors and offer supplemental programming through which industry professionals will participate in networking events, professional development workshops and guest speaking so students can further strengthen essential industry skills and knowledge. While CRPP is focused on assisting students of color, career readiness programming will be available to all 1,300 business students.

At the time of the announcement of the grant, NJCU President Sue Henderson said: “We are grateful to all corporate partners and donors who invest in the lives of our students. This four-year investment by the Bank of America is not only a generous gift, but even more so, will ignite life-changing experiences in the lives of our students. Many of our students have financial insecurity and lack mentorship, soft skill development and professional development and internship opportunities, which will be addressed by this gift. We thank the Bank of America for their historic investment in NJCU’s critical goal of enhancing student success.”