Sandra C. Krieger is executive vice president and head of the Credit, Investment and Payment Risk Group at the Federal Reserve Bank of New York, which leads and coordinates the Bank's work on payments policy and credit risk issues. She also is a member of the Bank's Management Committee. The functions in the Group are the Payments Policy Function, the Credit Risk Management Function, the Investment Support Office and the Subcommittee on Credit Risk Management Administration Office.

The Payments Policy Function coordinates policy work and promotes interdisciplinary perspectives on payments policy issues with payments experts in the business and policy areas in the Bank. It provides leadership and analytical resources for work on payments policy issues and assists areas in developing the next generation of payments experts.

The Credit Risk Management Function monitors and assesses the Bank's credit risk exposures arising from extensions of intraday credit, Discount Window lending, special lending arrangements, and foreign and domestic open market trading activity. The function focuses on core activities of Payment System Risk administration and monitoring of intraday exposures of account holders. In addition, the function's mandate is to measure actual and potential credit exposures across all of the Bank's financial activity, and facilitate internal discussions around the trade-offs between policy benefits and risk exposure from extending credit.

The Investment Support Office (ISO) oversees and coordinates the monitoring of service provider relationships and contracts that support both the Bank's interest in the assets securing loans to several limited liability companies (LLCs) of which the Bank is the sole managing member and provide outsourced financial management roles on behalf of the LLCs. In addition, the ISO provides analytic and administrative support to the Bank's Investment Committee.

The Subcommittee on Credit Risk Management Administration Office provides administrative, project management, budget, resource coordination and IT support to the SCRM community. In addition, it provides management and oversight for SCRM information technology applications that support Credit and Risk Management's consolidated IT applications through the Credit Risk Management Technology Support Function.

Ms. Krieger was a senior vice president in the Payment Studies Function in the Research and Market Analysis Group between July 2002 and May 2004. Between 1985 and 2002, she was involved in domestic reserves management, with responsibilities for the management of domestic open market trading, market analysis and discount window operations in the Bank. Ms. Krieger joined the Bank in 1981 as an economist in monetary research.

Ms. Krieger holds a bachelor's degree in mathematical economics from Wesleyan University and a doctorate in economics from the University of California.

February 2009