The Federal Reserve Bank of New York has appointed Sushmita Shukla, an Indian-origin Shukla, as its First Vice President and Chief Operating Officer (COO). This makes her the second-ranked official at the Federal Reserve Bank of New York after President and CEO, John C Williams.
In a tweet, the Federal Reserve Bank of New York said, “We're pleased to announce that the Board of Directors of the New York Fed has appointed Sushmita Shukla as First Vice President and Chief Operating Officer.”
The 54 year old will take charge in March 2023 and will also serve as an alternate voting member of the Federal Open Market Committee.
Shukla, with over twenty years of experience, has served in leadership roles in the insurance industry and has led technology, operations, and enterprise-wide transformation efforts. She also has in-depth knowledge of technology and agile innovation methods.
Chubb
Since January 2018, she has been working with Chubb, the world's largest publicly traded property and casualty insurance company that is based in New York. She is the senior vice president and COO for International Accident and Health at the company and has led strategic programmes, operations, and claims technology in about 51 countries.
Healthfirst
Shukla previously worked with Healthfirst, where she had begun as a Vice President of Enterprise Business Solutions in 2016 and then in 2017 she served as interim Senior Vice President of Enterprise Transformation.
The Hartford
Prior to that, she worked with The Hartford for 10 years, where she worked through various roles to ultimately become the Vice President of Strategic Programmes, Billing, and Operations Shared Services. During her tenure here, she and her team have won the Chairman's award in 2009 and 2013.
She has also worked with Merrill Lynch, Liberty Mutual, and GiantBear Inc., a wireless technology and application service provider.
In terms of studies, she has completed an MBA in Finance and Management from New York University and a bachelor's degree in Electrical and Electronics Engineering from the University of Mumbai.
Shukla is a mother of two daughters and is currently based in Connecticut.
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