Who is Sushmita Shukla – the first Vice President, Chief Operating Officer of Federal Reserve Bank of New York

Sushmita Shukla, First Vice President of Federal Reserve Bank, New York: The Board of Directors of Federal Reserve Bank, New York has appointed Sushmita Shukla as their First Vice President and Chief Operating Officer, effective March 2023. The appointment has been approved by the Board of Governors of the Federal Reserve System.

Sushmita will be the first Vice President and New York Fed’s second ranking officer. She will be the in-charge of establishing, communicating, and executing the strategic direction of the organisation along with the Bank’s President and Chief Executive Officer. She will also serve as an alternate voting member of the Federal Open Market Committee.

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Regarding her appointment, John C. Williams, President and Chief Executive Officer of the New York Fed, said, “She has an in-depth knowledge of technology and agile innovation methods and is passionate about creating a truly diverse and inclusive culture.”

According to Rosa M. Gil, Chair of the New York Fed’s Board of Directors and Founder, “Sushmita has deep expertise and leadership acumen that will support the Bank in achieving its mission and strategic priorities.”

Sushmita Shukla: Professional Background

She has served in leadership roles in the insurance industry for nearly 20 years, primarily leading operations, technology, and enterprise-wide transformation efforts. For the past five years, she has been Senior Vice President and Chief Operations Officer for International Accident & Health at Chubb — world’s largest publicly-traded property and casualty insurance company.

She spent 10 years at The Hartford Financial Service Group, where she held various roles, ultimately becoming Vice President of Strategic Programs, Billing & Operations shared services.

She has also held positions at Liberty Mutual, Merrill Lynch, and GiantBear Inc., a wireless technology and application service provider in New York. 

Sushmita Shukla: Educational Background 

She has an MBA from New York University and a bachelor’s degree in electrical engineering from the University of Mumbai.

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