NEW YORK – Sandra C. Krieger, executive vice president of the Risk Group and chief risk officer of the Federal Reserve Bank of New York, today announced her intention to retire from the Bank in the second quarter of 2015. Ms. Krieger is also a member of the Bank’s Management Committee.
“Sandy has played a critical role at the Bank, becoming the first leader of the Risk Group and building it into a powerful force for managing the Bank’s risks,” said William C. Dudley, president and chief executive officer of the New York Fed. “She has been a positive force for change throughout her career, and we are grateful for her leadership. Because of her work, the Bank has made valuable progress toward establishing an enterprise risk management model. We wish her well in her retirement.”
Ms. Krieger will leave the Bank after 34 years of service. She began her career as an economist in monetary research in 1981. Between 1987 and 2002, she was involved in domestic reserves management with responsibilities for management of domestic open market trading, market analysis and discount window operations in the Bank. She also helped change market operations to better prepare the Bank for the possible adverse impacts of Y2K, the millennium date change. Between 2002 and 2008, she served as a senior vice president in various functions of the Bank including the Payment Studies Function in the Research and Market Analysis Group.
In 2007, Ms. Krieger was asked to lead the Subcommittee on Credit Risk Management (SCRM), where her financial innovation experience proved key as she built out the Term Auction Facility and worked on numerous Bank programs to increase lending in response to developments during the financial crisis. She was appointed executive vice president of the newly formed Risk Group in 2008.
Ms. Krieger holds a bachelor’s degree in mathematical economics from Wesleyan University and a doctorate in economics from the University of California, San Diego.