Indian American Sushmita Shukla Named First Vice President and COO of New York Fed
- She has served in leadership roles in the insurance industry for nearly 20 years, primarily leading operations, technology, and enterprise-wide transformation efforts.
The Federal Reserve Bank of New York has appointed Sushmita Shukla as the first vice president and chief operating officer, effective March 2023. In her new role, Shukla, the New York Fed’s second-ranking officer “will establish, communicate, and execute the organization’s strategic direction. She will also serve as an alternate voting member of the Federal Open Market Committee,” the bank said.
In a statement, Shukla said she is “honored to have the opportunity to work for a mission-driven organization,” and looks forward “to applying all that I’ve learned in my career – including my technology, operations, and risk-focused experiences – to furthering the key activities and supporting the dedicated leadership of this critical institution.”
Shukla has served in leadership roles in the insurance industry for nearly 20 years, primarily leading operations, technology, and enterprise-wide transformation efforts. For the past five years, she has been Senior Vice President and Chief Operations Officer for International Accident & Health at Chubb, the world’s largest publicly traded property and casualty insurance company.
Before that, she led an enterprise‐wide transformation program at Healthfirst, where she started as vice president of Enterprise Business Solutions in 2016 and then served as interim Senior Vice President of Enterprise Transformation in 2017. Prior to that, she spent 10 years at The Hartford, where she held various roles, ultimately becoming Vice President of Strategic Programs, Billing & Operations Shared Services.
She has also held positions at Liberty Mutual, Merrill Lynch, and GiantBear Inc., a wireless technology and application service provider in New York.
She has an MBA from New York University and a bachelor’s degree in electrical engineering from the University of Mumbai. She resides in Connecticut. She is married with two daughters.