Sarah J. Dahlgren, executive vice president and member of the Bank's Management Committee, became head of the Financial Institution Supervision Group at the Federal Reserve Bank of New York effective January 1, 2011. Ms. Dahlgren had been the executive vice president of the Special Investments Management Group since January 2010.
The Financial Institution Supervision Group at the New York Fed is responsible for supervising and regulating all state member banks, financial holding companies and other bank holding companies, and foreign banks operating within the Second Federal Reserve District. It is also heavily involved in the development of supervisory policies and procedures, both domestically and internationally, and processes applications by banking organizations to expand their activities.
Ms. Dahlgren had previously led the American International Group (AIG) monitoring team as a senior vice president since September 2008. Ms. Dahlgren joined the New York Fed as an examiner in July 1990. She has held various positions within the Financial Institution Supervision Group, including responsibility for the relationship management function, with oversight responsibility for the Group's portfolio of domestic and foreign banking organizations. Prior to that, she had oversight responsibility for the Group's information systems and technology exam programs, as well as its Year 2000 readiness efforts. In addition, Ms. Dahlgren was responsible for the Bank's Credit Risk Management Function.
Ms. Dahlgren holds a bachelor's degree from Cornell University and a master's degree from Duke University.
The Federal Reserve Bank of New York works within the Federal Reserve System to implement monetary policy, supervise and regulate financial institutions and help maintain the safety, soundness and vitality of our economic and financial systems. As part of the New York Fed's core mission, we supervise and regulate financial institutions in the Second District with the goal of fostering a safe and competitive U.S. and global banking system.