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For immediate release
Contact: Katherine Dibling, Public Affairs Specialist, (215) 574-4119
Philadelphia, Pa. - The Federal Reserve Bank of Philadelphia has announced the promotions of Richard A. Sheaffer to senior vice president and general auditor; Donna Brenner to vice president in Enterprise Risk Management; Jennifer E. Cardy to vice president in Financial Management Services; Gregory Fanelli to vice president in Information Technology Services; and Keith Sill to vice president and director of the Real-Time Data Research Center in the Research Department.
Richard A. Sheaffer
Since 2004, Sheaffer has served as vice president and general auditor. He previously served as vice president of Treasury Services, a position to which he was promoted in 2002. Sheaffer joined the Bank in 1974 as a member of the Audit Department. He is also a certified fraud examiner and serves on the board of governors of the Philadelphia Chapter of the Institute of Internal Auditors. Sheaffer has been an instructor at the American Institute of Banking. He is a graduate of Temple University, from which he received both a bachelor's degree and an M.B.A.
Brenner served as assistant vice president in Enterprise Risk Management. In her new position, she has responsibility for the Bank's budget function. Brenner will continue to have responsibility for the Bank's enterprise risk management, strategic planning, and business continuity functions, all of which she has directed since 2006. She joined the Bank in 1983 and has held various positions in Financial Management Services. Brenner is a 2010 Leadership Philadelphia alumna. She has a B.B.A. in accounting from Temple University and received an M.B.A. in financial management from Drexel University.
Jennifer E. Cardy
Cardy served as assistant vice president in Financial Management Services. She will assume responsibility for the Bank's general ledger operations, including financial statement reporting. Cardy will continue to have responsibility for cost accounting, procurement, and payroll, all of which she has directed since 2006. Cardy was promoted to assistant general auditor in 2004 after joining the Audit Department in 1991. Cardy is a board member of Musicopia. She served as an ambassador for the Mann Center for the Performing Arts during the 2011 summer season and is also a Leadership Philadelphia alumna (2010-2011). Cardy is a certified public accountant and has a bachelor's degree from Bethany College and an M.B.A./J.D. from Villanova University.
Fanelli was an assistant vice president in Information Technology Services. He will continue to have responsibilities for overseeing systems development, support for Treasury applications, software quality assurance, the project management office, customer relationship management, and advanced software engineering. Before transferring to Information Technology Services in 2010, Fanelli managed the Treasury Check Information System project, including the central business administration function in Philadelphia. He joined the Bank in 1995. Fanelli is also a project management professional. He is a board member of the Philadelphia Chapter of Autism Speaks and has served as co-chair of Autism Speaks' Walk Now since its inception in 2003. He received a bachelor's degree in computer science from Drexel University.
Sill was assistant vice president and director of the Real-Time Data Research Center, a position he held since 2009. The Real-Time Data Research Center houses the Research Department's macroeconomic surveys, real-time data collection, and macroeconomic forecasting activities. Sill's research has been published in economic journals such as the Journal of Monetary Economics, Review of Economics and Statistics, the International Journal of Forecasting, and Review of Economic Dynamics. He joined the Research Department in 1991 after receiving a Ph.D. in economics from the University of Virginia.
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.