Cleveland Fed Announces Officer Appointment

Wendy Wong has been appointed vice president and risk officer for the Bank’s Treasury Services unit. In this role, Wong will formalize and implement a comprehensive risk-management program for all of Treasury Services’ programs. She will also be responsible for assessing risk tolerance and developing a risk profile for the department.

Wong joins the Bank from Wells Fargo & Company, where she led a business risk and control team in consumer- and small-business banking that handled high-touch activities across multiple product lines. Prior to her time at Wells Fargo, Wong was with the Federal Reserve Bank of New York for 22 years, most recently serving as the risk officer for the Wholesale Product Office (WPO). During her tenure in the WPO, Wong developed the comprehensive risk-management framework and key risk indicators for the systemically important businesses of Fedwire Funds, Fedwire Services, and National Settlement Services, and worked collaboratively across all Federal Reserve financial services to formulate and meet cross-business risk and resiliency objectives.

Wong holds a BA in economics from Wellesley College and an MBA in finance from New York 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, doug.campbell@clev.frb.org, 513.455.4479