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Press Release

Cleveland Fed announces officer appointments

The Federal Reserve Bank of Cleveland has announced the following officer appointments:

Todd Berardinelli has been promoted to assistant vice president, Risk Management and Innovation. In this role, Berardinelli will provide strategic oversight, coordination, and support for Bank and Federal Reserve System risk management initiatives. He will also provide oversight for the Bank’s innovation and continuous improvement efforts. Berardinelli began his career at the Cleveland Reserve Bank in 1995 as a financial analyst in the Statistics Department. Since then he has held roles of increasing responsibility, including providing leadership for the Bank’s Discount Window and Payment Systems Risk operating functions in Credit Risk Management, and most recently, serving as the Bank’s innovation program manager. Berardinelli holds a BSBA in finance from John Carroll University and is a graduate of the Stonier Graduate School of Banking.

Denise Duffy has been promoted to assistant vice president, Surveillance and Analytics. Duffy joined the Cleveland Reserve Bank in 2016 and most recently served as a banking supervisor. She is a member of the Federal Reserve System’s Risk Council and the Risk and Analytics Business Oversight Council. Duffy will also co-lead the Bank’s work related to middle-tier banking organizations. She holds a bachelor of science in economics from John Carroll University, an MA in economics from Penn State University, and an MBA from the University of Chicago.

Jason Tarnowski has been promoted to vice president, Risk Supervision, Surveillance and Analytics. Tarnowski has extensive experience in the supervision of financial institutions. He is a member of the Federal Reserve System’s Consumer Compliance Management Group. In addition, he helped to establish the Federal Reserve System’s cyber intelligence and incident management function and continues to play a key role in leading that function. Tarnowski joined the Bank in 1992 as an associate examiner and most recently served as assistant vice president, Risk Supervision. He holds a bachelor of business administration in accounting from Cleveland State University.

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,, 513.455.4479