Sushmita Shukla (bio)
Interim Chief Information Officer
and Group Head
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The Technology Group (TG) is responsible for the strategic planning and provisioning of technology products and services for the Bank. The Group is transitioning to a new organization structure that consists of seven interdependent functions: Transformation Office; Enterprise Architecture and Strategy; Enterprise Platforms and Capabilities; Enterprise Support; Oversight and Business Operations; Data and Analytics Office, and Information Security. The new operating model will leverage a more centralized and agile delivery framework.

In 2020, the Technology Group launched TechForward, an ambitious, business-driven, multi-year strategy—to transform how the Federal Reserve Bank of New York uses technology to deliver on its mission. TechForward sets forth a digital transformation plan that aligns the technology program, the mission, and the vision of the Bank at an enterprise level, increasing the Bank’s ability to leverage and scale innovative technologies to operate more efficiently, and ultimately become a leader in central banking technology.

The new organization and delivery model will include:

Transformation Office
Serves as a high-level orchestrator of complex processes that involve a large number of discrete technology priorities and initiatives. Responsible for leading the collaboration and engagement involved in making day-to-day decisions and implementing initiatives, it serves as the face of technology modernization and transformation, while ensuring the enterprise’s readiness to execute and sustain the technology strategy in the long term.

Enterprise Architecture and Strategy
Sets the Bank's technology strategy in support of business line product strategies, optimizes how users experience technology, and aligns it with the needs of the business through continuous innovation, technical governance and hands-on delivery leadership. With an emphasis on industry standards, common technology building blocks, and use of shared platforms, it assists and provides guidance for investments in innovation and key opportunities to retire technical debt (outdated products and services).

Enterprise Platforms and Capabilities
Executes on the ‘how’ of technology delivery. Responsible for all application delivery and maintenance across the entire Bank, influences not only how the Bank thinks about its work, but also how it does its work with nimble organizational principles that empower employees and fuel constant innovation.

Enterprise Support
Responsible for all technology support services across the Bank, including coordinating with National IT on matters of shared infrastructure, system processes, and end-user technologies. Centralizes all technology support activities and leverages vendors to provide scalable and flexible workspace technologies, handling incidents as needed.

Oversight and Business Operations
Provides oversight to ensure that technology services align with the Bank’s strategic direction in order to deliver optimum value to the Bank by managing risk, tracking demand, and overseeing resource and performance management for the Group. Provides a clear and streamlined administration across the end-to-end set of processes in which the Technology Group operates.

Data and Analytics Office
Directs all aspects of data management within the Bank, and coordinates policies that will get promoted across the Federal Reserve System. Serves as a coordinating and centralizing body for data and analytics, organizing data access, establishing data foundations, while also driving innovation through advanced analytics.

Information Security
Develops, executes, and maintains a superior information security program that promotes resiliency by identifying and mitigating cyber risks and threats through risk-based consultation, advice, and direction for controls, designs, and investments for the Group and the entire Bank.

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