Meet Our President and First Vice President
As president and chief executive officer of the Federal Reserve Bank of Cleveland, Loretta J. Mester participates in the formulation of US monetary policy and oversees approximately 950 employees in Cleveland, Cincinnati, and Pittsburgh who conduct economic research, supervise banking institutions, and provide payment services to depository institutions. She assumed her role as president and chief executive officer in June 2014. For more information, including a full CV, consult Dr. Mester’s bio here.
Gregory L. Stefani is first vice president and chief operating officer of the Federal Reserve Bank of Cleveland. He chairs the Bank’s Executive Leadership Team and oversees all operating and support activities in the Cleveland Bank headquarters and in the Bank’s Pittsburgh and Cincinnati Branches. For more information, see Mr. Stefani’s bio here.
Meet Additional Members of Our Executive Leadership Team
The purpose of the Executive Leadership Team (ELT) is to provide broad organizational leadership, oversight, and direction; to ensure the Bank’s strategy, structure, and culture are aligned; and to serve as an advisory body to the president. Learn more about our other ELT members below.
Mouneer I. Ahmad
Senior Vice President
Mouneer I. Ahmad is a senior vice president at the Federal Reserve Bank of Cleveland responsible for the Bank’s Cash Services, Facilities, and Law Enforcement Departments. His areas of expertise include financial planning and analysis, strategic planning and leadership, business process optimization, and organizational management.
Prior to joining the Cleveland Reserve Bank, Mr. Ahmad was a senior manager in the finance strategy and operations practice at Deloitte Consulting LLP. There, he led several process, organization, and systems strategy development efforts to support multi-billion-dollar company mergers and system integration programs. Before joining Deloitte, Mr. Ahmad was a business advisory manager for Ernst & Young LLP and a senior consultant in the strategy, process, and transformation area for BearingPoint. He was also the US financial operations lead in the organizational development and process improvement area of Oilily Retail USA.
Mr. Ahmad is a member of APICS. He holds a BA in finance from Northern Illinois University.
William D. Fosnight
Senior Vice President and General Counsel
William D. Fosnight is senior vice president and general counsel at the Federal Reserve Bank of Cleveland. He is responsible for overseeing the Legal Department, the Office of the Corporate Secretary and for providing corporate legal counsel and advice to the Bank. He joined the Cleveland Reserve Bank as an attorney in 1986 and was named senior attorney in 1989. He was promoted to assistant vice president and assistant general counsel in 1994, vice president and associate general counsel in 2001, and to his current position in 2011. Before joining the Bank, he was employed as counsel to supervision at the Federal Home Loan Bank of Cincinnati.
Mr. Fosnight earned a BA in economics from Miami University and a JD from Case Western Reserve University School of Law.
Stephen H. Jenkins
Senior Vice President
Stephen H. Jenkins has been a senior vice president at the Federal Reserve Bank of Cleveland since 2007. He is responsible for the Bank’s Supervision and Regulation Department, which oversees more than 275 financial institutions in the Fourth Federal Reserve District. He is also responsible for the Bank’s Credit Risk Management and Statistics and Analysis Departments. Mr. Jenkins joined the Supervision and Regulation Department in 1986 as a bank examiner. He was appointed to his current position in 2007.
He is a past president of the Northern Ohio Chapter of the Risk Management Association, a trade organization that promotes sound credit risk management practices, and he serves on the board of trustees of Cornucopia, Inc., a nonprofit organization providing job readiness and placement services for disabled individuals.
Mr. Jenkins holds a BS in finance from Bowling Green State University, an MBA from the University of Pittsburgh, and a diploma from the Graduate School of Banking at Colorado.
Susan M. Kenney
Senior Vice President
Susan M. Kenney is a senior vice president in the eGovernment Department at the Federal Reserve Bank of Cleveland, supporting the United States Department of the Treasury’s Bureau of the Fiscal Service in revenue collections and ecommerce strategy. She is responsible for overseeing Pay.gov, an internet portal for payments to the government; managing Debit Gateway, a settlement mechanism for check and ACH payments processed through multiple channels; and developing innovative ecommerce and mobile payments solutions for use by government agencies and the public.
Ms. Kenney joined the Cleveland Reserve Bank as a programmer in data systems support. She has served as information technology services coordinator—responsible for managing local and national software development initiatives such as the cash material handling system used throughout the Federal Reserve System—assistant vice president, and vice president before assuming her current role in 2014.
Ms. Kenney is actively involved with the Waiting Child Fund, a Northeast Ohio organization dedicated to helping place children in foster care with a permanent family.
She holds a BS in mathematics from John Carroll University and a project management professional (PMP) certification from the Project Management Institute.
Mark S. Meder
Senior Vice President and General Auditor
Mark S. Meder is senior vice president and general auditor at the Federal Reserve Bank of Cleveland, having been appointed to his current position in 2012. He is responsible for the strategic leadership and oversight of the Bank’s Audit Department. He is also responsible for the Audit Application Competency Center of the Federal Reserve System.
Since joining the Cleveland Reserve Bank in 1993, Mr. Meder has been responsible for the safety and soundness of the Fourth Federal Reserve District’s community banking organizations; led the Credit Risk Management, Statistics and Analysis, and Financial Support Services Departments, including Strategy and Performance Management; and served as vice president of regional bank, community bank, and thrift holding company supervision in the Supervision and Regulation Department.
Mr. Meder earned a BBA with a concentration in accounting from Cleveland State University and an MBA from The Ohio State University. He holds a certification in risk management assurance.
Mark E. Schweitzer
Senior Vice President
Mark E. Schweitzer is senior vice president of External Outreach and Regional Analytics at the Federal Reserve Bank of Cleveland. He is responsible for overseeing the Bank’s public outreach activities and its analysis of regional economic conditions and informing and advising the Bank’s president and board of directors on regional economic developments and economic policy issues. Dr. Schweitzer’s own research focuses on the macroeconomic impact of labor market developments and the identification of factors contributing to regional economic growth.
Since joining the Cleveland Reserve Bank as an economist in 1992, Dr. Schweitzer’s career has included service as a senior economist at the Bank of England from 2000 to 2002. After returning to the Federal Reserve Bank of Cleveland, he was promoted to assistant vice president and director of the Regional Economic Issues Program in 2004. He left the Cleveland Reserve Bank in 2007 to serve as vice president and branch executive of the Federal Reserve Bank of Kansas City’s Denver Branch, returning to the Cleveland Reserve Bank in 2008 to serve as its research director. He assumed his current position in January 2015.
Dr. Schweitzer holds an AB in economics from the University of Chicago and an MA and a PhD in economics from the University of California, Los Angeles.
For more information, see Dr. Schweitzer’s bio here.
Susan M. Steinbrick
Executive Vice President and Chief Financial and Information Officer
Susan M. Steinbrick is executive vice president and chief financial and information officer at the Federal Reserve Bank of Cleveland. She is responsible for leading the areas of financial support services, information technology, information security, enterprise risk management, strategy and performance management, continuous improvement, and business continuity. Prior to joining the Bank in 2009, Ms. Steinbrick was senior vice president and assistant general auditor at KeyCorp, responsible for internal audit activities and enterprise-wide model validation.
Ms. Steinbrick serves as chair of the Cleveland Reserve Bank’s Enterprise Risk Committee. She also serves as chair of several Federal Reserve committees and participates in the Federal Reserve System’s Risk Management Committee, the Advisory Group on Financial Management, and the Technology Services Council. She is the executive sponsor of the Federal Reserve System Application Development Leadership Team.
Ms. Steinbrick holds a BS in international business from Lake Erie College, an MBA from Case Western Reserve University, and a certificate of accountancy from John Carroll University. She is also a certified public accountant, a certified information systems auditor, and a graduate of the ABA Stonier Graduate School of Banking.
Senior Vice President and Director of Research
Ellis Tallman is senior vice president and director of research at the Federal Reserve Bank of Cleveland, for which he leads the Research Department’s efforts in conducting economic research and policy analysis. He advises the Bank’s president on monetary policy and related matters. Dr. Tallman’s research currently focuses on macroeconomics, economic forecasting, and US historical episodes of financial crises and policy responses.
Prior to joining the Cleveland Reserve Bank, Dr. Tallman was the Danforth-Lewis Professor of Economics and the Department of Economics chair at Oberlin College. Prior to joining Oberlin, he served as a vice president and team leader for the macroeconomics group in the Research Department at the Federal Reserve Bank of Atlanta and as an adjunct professor at Emory University. He also served a two-year appointment as a visiting senior research economist at the Reserve Bank of Australia.
Dr. Tallman earned a BA in economics from Indiana University and an MA and a PhD in economics from the University of Rochester.
For more information, see Dr. Tallman’s bio here.
Senior Vice President and Chief of Staff
Senior Vice President and Chief of Staff
Peggy Velimesis is senior vice president and chief of staff at the Federal Reserve Bank of Cleveland. She is also responsible for the Executive Office. Since joining the Cleveland Reserve Bank in 1996, Ms. Velimesis has served as vice president of Human Resources, directed the Bank’s Office of Minority and Women Inclusion (OMWI), and served as the Bank’s Equal Employment Opportunity officer. She was appointed senior vice president in 2001 and assumed chief of staff responsibilities in 2010.
Prior to joining the Bank, Ms. Velimesis was a vice president for a large healthcare organization. As a member of its executive management team, she had administrative responsibility for two hospitals. She has special expertise in labor and employee relations and change management. She has been a member of the Society of Human Resource Management, and served on United Way’s Human Resources Advisory Committee and on a number of other not-for-profit boards and advisory groups, including those of the ERC and Children’s Hunger Alliance.
Ms. Velimesis earned a BBA and an MBA from Cleveland State University.
Lisa M. Vidacs
Senior Vice President
Lisa M. Vidacs is a senior vice president at the Cleveland Fed, overseeing Corporate Communications and Engagement. After joining the Bank in 1987, she held management positions in both the Cash and Check Departments before being appointed assistant vice president in 2003. She was appointed vice president in 2005 and served as chair of the Bank Management Committee. In 2007, Ms. Vidacs was appointed senior vice president. She currently sits on the Bank’s Executive Leadership Team and serves as chair of the Federal Reserve System’s Subcommittee on Public Information.
Ms. Vidacs earned a BBA in finance from Kent State University. She is a graduate of the BAI Graduate School of Bank Operations and Technology conducted by BAI and Vanderbilt University and of Leadership Cleveland.
Ms. Vidacs serves on the board of the Cleveland Furniture Bank and on the Northeast Ohio regional board of Children’s Hunger Alliance.