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Bank Announces Officer Appointments

For immediate release
Contact: Katherine Dibling, E-mail Public Affairs Specialist, (215) 574-4119

Philadelphia, Pa. — The Federal Reserve Bank of Philadelphia has announced the following appointments. Larry Cordell has been promoted to vice president, overseeing the Risk Assessment, Data Analysis and Research (RADAR) unit and the Financial Monitoring Group, and Paul Calem has been promoted to assistant vice president for Retail Risk Analysis. John J. Munera III has been appointed assistant vice president for Community and Regional Supervision, and Joanne M. Branigan has been promoted to examining officer, also in Community and Regional Supervision.

Larry Cordell

Larry CordellLarry Cordell

Cordell was the business lead for RADAR, a data warehouse designed as a resource for the Federal Reserve. Cordell was instrumental in the development of RADAR. As vice president, he continues to oversee the unit and now also oversees the Financial Monitoring group. Before joining the Philadelphia Fed in 2007, Cordell was vice president of risk analytics and chief economist of the Radian Group. Prior to that, he was an economist for 11 years at Freddie Mac, where he helped develop the first automated underwriting model for the U.S. mortgage market and led the team that created another product to assist mortgage servicers in managing delinquent accounts. He has also been an adjunct professor in Penn State University’s master’s in finance program, teaching a course on fixed income securities. Cordell has published widely in areas of mortgage finance and fixed income research. He received a Ph.D. in economics from the University of North Carolina at Chapel Hill.

Paul Calem

Paul CalemPaul Calem

Calem rejoined the Bank in November 2011 as a special advisor in the Bank’s Retail Risk Analysis unit. In his new position, he manages the unit; participates in Federal Reserve System initiatives to implement the Basel II regulatory capital rule and annual stress tests mandated by Dodd-Frank; and provides policy analysis and research on retail credit risk issues. Prior to his return to the Bank, he was a senior economist in the Division of Banking Supervision and Regulation at the the Board of Governors of the Federal Reserve System. Calem has also served in positions at Freddie Mac, and at the mortgage data and analytics company LoanPerformance. Before that, he was a senior economist in the Division of Research and Statistics at the Board of Governors, an economist at the Federal Reserve Bank of Philadelphia, and an economist at the Federal Reserve Bank of Minneapolis. He holds a Ph.D. and a master’s degree in economics from Brown University and a bachelor’s degree in mathematics from Duke University.

John J. Munera III

John J. Munera IIIJohn J. Munera III

In Munera’s new position as assistant vice president for Community and Regional Supervision, he oversees the supervision of large and regional banking organizations. Since 2005, he has served as a vice president and anti-money laundering officer for BNY Mellon Investment Servicing. Before that, he served in a number of compliance roles at SEI Investments Company and was responsible for the implementation and oversight of the firm’s global anti-money laundering compliance program. From 1988 to 2000, Munera held two positions at the Federal Reserve Bank of Philadelphia, as supervising examiner in the Bank’s Specialty Examinations unit and as senior examiner in the Domestic Safety and Soundness Examinations unit. He holds an M.B.A. from Temple University and a bachelor’s degree in political science from the University of Pennsylvania.

Joanne M. Branigan

Joanne M. BraniganJoanne M. Branigan

Branigan has been with the Bank’s Supervision, Regulation and Credit (SRC) Department for 12 years. As examining officer in Community and Regional Supervision, she oversees supervisory events and the training and professional development of examinations staff. Prior to that, Branigan managed the Professional Development group within SRC. Before that, she was an assistant examiner and senior analyst in the department. Before joining the Bank, she worked for 10 years in the financial services industry. She played a key role in establishing the PhillyFedCARES initiative, the Bank’s community service group. Branigan earned a bachelor’s degree in accounting from Rutgers University and is a certified public accountant. She is currently attending the Stonier Graduate School of Banking/Wharton Leadership Program.

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.

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