Federal Reserve Bank of Cleveland Announces Official Appointments

The Federal Reserve Bank of Cleveland has announced the following official appointments, effective September 1, 2007, unless otherwise noted.

Promotions:

Mark Sniderman has been promoted to executive vice president responsible for Economic Research, Public Affairs, Community Affairs, and Policy Analysis. Sniderman joined the Bank in 1976 as an economist and was promoted to roles of increasing responsibility, most recently to senior vice president and director of research in 1995. He holds a bachelor's degree from Case Western Reserve University and master's and doctoral degrees in economics from the University of Wisconsin at Madison.

Greg Stefani has been promoted to senior vice president responsible for Financial Management Services, Risk Management, Strategy and Performance, and National Billing. Stefani joined the Bank in 1983 as an assistant bank examiner and was promoted to roles of increasing responsibility. He became vice president in 1999 and was named vice president - Policy and Strategic Analysis in 2006. Stefani holds a bachelor's degree in business administration and finance and a master's degree in business administration from Bowling Green State University. He also completed the banking program at the Graduate School of Banking at Colorado, University of Colorado.

Tony Turcinov has been promoted to senior vice president-District Check Services, Facilities Management, Information Security, and Business Continuity Planning. Turcinov joined the Bank in 1985 as a cash/securities project manager and was promoted to roles of increasing responsibility, most recently to vice president - Check Operations and Adjustments in 2002. He holds a bachelor's degree in industrial engineering from Cleveland State University and a master's degree in business administration from Baldwin-Wallace College. Turcinov has also completed the Stonier Graduate School of Banking program at the University of Delaware.

Lisa Vidacs has been promoted to senior vice president with responsibility for Cash Operations and Protection Services. Vidacs joined the Bank in 1987 as a cash operations administrator and was promoted to roles of increasing responsibility, most recently to vice president - Cash in 2005. She holds a bachelor's degree in finance from Kent State University. She has also completed the Bank Administration Institute Graduate School of Bank Operations and Technology program at Vanderbilt University.

Ed Nosal has been promoted to vice president-Money, Banking, and Payments. He will also manage the Bank's Payment Systems Research function. Nosal joined the Bank in 2000 as an economist and currently serves as a senior research advisor. He holds a master's degree in economics from McMaster University, Hamilton, Ontario, and bachelor's and doctoral degrees in economics from Queen's University, Kingston, Ontario.

Tim Rachek has been promoted to assistant vice president-Cleveland Regional Check Adjustments. Rachek joined the Bank in 1987 as a contracts administrator and was promoted to roles of increasing responsibility, most recently to manager - Check Adjustments in 2006. Rachek holds bachelor's and master's degrees in business administration from Cleveland State University.

Janine Valvoda has been promoted to assistant vice president-chief culture officer, effective July 1, 2007. In this newly created position, she is responsible for supporting the development of an organizational culture that is aligned with the Bank's strategic objectives: operational excellence, external focus, and thought leadership. Valvoda joined the Bank in 2002 as career development and knowledge management manager in the Supervision and Regulation Department. In 2005, she was named manager of strategic management and resource allocation. Valvoda holds a bachelor's degree in education from Slippery Rock University in Pennsylvania, and a master's degree in education psychology from Kent State University, and has completed the Organizational Development Certificate Program offered by Linkage Inc., a global organizational development company specializing in leadership development.

Other organizational changes:

Larry Cuy, senior vice president, has assumed responsibility for Treasury Operations, and will continue to provide leadership to the Bank's Information Technology function. Treasury Operations include eGovernment Operations, Treasury Electronic Check Processing, and Treasury Retail Securities. Cuy joined the Bank in 1973 and was promoted to roles of increasing responsibility, most recently to senior vice president-Information Technology and Financial Management in 1996. Cuy holds a bachelor's degree in economics and a master's degree in business administration from Case Western Reserve University.

Cheryl Davis has been named vice president-Corporate Affairs. She will serve as the Bank president's chief of staff and will continue to serve as corporate secretary to the Bank's board of directors. Davis joined the Bank as vice president in 2004, having served in leadership roles in communications, public affairs, and strategy development in both the public and nonprofit sectors. Davis holds a bachelor's degree from the Ohio State University and a master's degree in public administration from Harvard University's John F. Kennedy School of Government.

James Thomson has been named vice president-Policy Analysis and Development. Thomson joined the Bank in 1986 as an economist and was promoted to roles of increasing responsibility, most recently to vice president in 1995. Before joining the Bank, he served as a financial economist in the U.S. General Accounting Office. Thomson holds a bachelor's degree in economics from Georgia Institute of Technology and master's and doctoral degrees in economics from the Ohio State University.

Jim Slivka, assistant vice president, has been designated by the Bank's Audit Committee as assistant vice president and assistant general auditor. He joined the Bank in 1994 as manager - Audit Information Systems and was promoted to assistant vice president in 2003. Slivka holds a bachelor's degree in business administration from Baldwin-Wallace College.

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that along with the Board of Governors in Washington DC comprise the Federal Reserve System. Part of the US central bank, the Cleveland Fed participates in the formulation of our nation’s monetary policy, supervises banking organizations, provides payment and other services to financial institutions and to the US Treasury, and performs many activities that support Federal Reserve operations System-wide. In addition, the Bank supports the well-being of communities across the Fourth Federal Reserve District through a wide array of research, outreach, and educational activities.

The Cleveland Fed, with branches in Cincinnati and Pittsburgh, serves an area that comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.

Media contact

Doug Campbell, doug.campbell@clev.frb.org, 513.455.4479