For immediate release

Contact: Daneil Mazone, Senior Media Relations Representative, 215-574-7163

Philadelphia, PA — The Federal Reserve Bank of Philadelphia has announced the following promotions: Robert F. Mucerino has been promoted to vice president in the Bank's Treasury Services Department; Julia Cheney to assistant vice president and assistant director in the Payment Cards Center (PCC); Michael Costello and Andrew Kish to assistant vice president in the Supervision, Regulation & Credit (SRC) Department; and Kim Taylor to assistant vice president in Human Resources.

Mucerino has held several supervisory and managerial positions since joining the Bank in 1979. He was promoted to officer in 2008 and became assistant vice president in 2010. As vice president of Treasury Services, he leads the Collateral Management System, which serves the entire Federal Reserve System. Mucerino will also oversee the Bank's records management and mail services functions. He has a bachelor's degree in business administration from Temple University.

Cheney joined the Bank in 2003 as an industry specialist in the PCC, which researches markets for consumer credit and payments. She became research and programming manager in 2009 and officer and assistant director in 2013. Her research interests include payment system security, prepaid card and mobile payment innovations, and household finance. She gained experience with the rulemaking process by participating in an assignment with the Federal Reserve Board of Governors. Cheney also participated in System groups, including the U.S. Payment System Improvement Initiative. She has a master's degree in international business studies from the University of South Carolina and a bachelor's degree in economics from Dickinson College.

Costello has more than 22 years of experience in SRC since joining the Bank in 1992 as an assistant examiner. In 2004, he became manager of SRC's business technology solutions and oversaw application development. He was integral in establishing and assuming responsibility for the Supervision Team Site Support Office in 2011. Costello became business technology officer in 2013, and he will now serve as assistant vice president in SRC. Costello has a master's degree in management information systems and a bachelor's degree in mathematics, both from Pennsylvania State University.

Kish joined the Bank in 2004. He leads the SRC's Financial Monitoring Group, which analyzes and monitors retail risks in financial institutions and markets. Kish has supported several System initiatives, including serving in a key role in the System's efforts to assess the effectiveness of the models used in the annual stress tests. These tests measure the ability of large financial institutions to withstand potential losses during a severe economic downturn. Recently, he was named deputy of the System committee that monitors retail credit risks among the nation's largest institutions. Kish has a doctorate in economics from Temple University and a bachelor's degree in economics from the University of Pennsylvania.

Taylor joined the Bank in 1993 as a compensation analyst in Human Resources. She was promoted to a position in the Cash Services Department in 1994 and returned to Human Resources in 1997. Taylor became the benefits manager in 1998, employee relations manager in 2001, and an officer in 2013. As assistant vice president in Human Resources, she oversees compensation, benefits, employee relations, workers' compensation, and the department's administrative unit. Taylor has a master's degree in human organization science from Villanova University and a bachelor's degree in criminal justice from Kutztown University.

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware.