Bevery Ferrell, right, and Marilyn Nieves. Photo by David FineAt the Federal Reserve Bank of Atlanta’s Miami Branch, Bevery Ferrell and Marilyn Nieves have broken through the glass ceiling.
Ferrell is the Bank’s first black female branch manager, and Nieves is chief of the law enforcement division, the first woman to hold that job at any Atlanta Fed office.
The two leaders have other things in common. Both were born and raised in Miami, and they see the value in nurturing their staffs.
As the nation observes Women’s History Month, their achievements show how the Bank continues to evolve and embrace gender inclusion.
“We’ve come a long way in being accepting of everyone,” said Amy Ginsberg, a senior business analyst who has worked at the Miami Branch for 38 years. She remembers times not so long ago when men held most leadership positions at the Bank and women were not in such roles. Their promotions “certainly say something about them, but they also say something about how we’ve grown in the Federal Reserve and how we look at diversity and giving opportunities.”
The Miami Branch is a case in point. Of the six leaders based there with the titles of assistant vice president or vice president, four are women.
The importance of values
Ferrell began working at the Miami Branch in 1997 as a management associate in a department that processed paper checks. When check processing operations were consolidated, she went to work at a credit union for six years. When that company was acquired, Ferrell returned to the Atlanta Fed as a director in the Miami Branch’s Cash Department.
During her time away from the Atlanta Fed, Ferrell discovered that not all workplaces are guided by strong values, and she missed the sense of family she felt at the Bank. “When I had an opportunity to come back, I jumped at it,” she said.
A few years ago, when staffers were asked to write six-word sentences that described how they viewed the Atlanta Fed, Ferrell submitted, “Left with Checks, returned for values.” She was promoted to assistant vice president and Miami Branch manager in 2016.
A welcome change she’s seen at the Atlanta Fed is management’s increased engagement with employees. Management seeks staff input on how to achieve goals, something that didn’t always happen in the past. “Once you invite more people to the table, more people get to eat,” Ferrell said.
On the job, Ferrell’s inclusive nature shows. “You feel like a part of the family when you walk in,” Ginsberg said, adding that Ferrell makes a point to speak to all workers at the Branch, regardless of level. “Everybody gets treated the same, and it’s not an act,” Ginsberg added.
As branch manager, Ferrell oversees operations in cash, facilities, and law enforcement. Though the work in those areas can be taken for granted because of its routine nature, she said, the tasks are nevertheless critical. “Providing a clear vision to our mission is how I keep folks energized and motivated to continue to give their best,” Ferrell said.
The operations she manages help ensure the Federal Reserve carries out its duty to supply money to financial institutions. Miami’s location makes it a strategic gateway, and more than half of the branch’s cash activity includes U.S. currency services to clients in foreign countries. “Right now, we are the third-largest cash operation” in the Federal Reserve System, Ferrell said.
Recognizing the significance of her promotion to branch manager, Ferrell said she looks to encourage employees to express themselves and not defer to others. “Sometimes because of self-doubt and a lack of confidence, people talk themselves out of even trying,” she said.
Leadership lessons learned
The daughter of Cuban immigrants, Nieves had a desire to serve her country. She joined the U.S. Army at 19 and had assignments in Panama, Oklahoma, Puerto Rico, and the United States Southern Command in Miami. The Atlanta Fed hired her as a sergeant nine years ago, and she progressed to staff sergeant and lieutenant before becoming chief in January.
Her experience in the military and law enforcement—professions traditionally dominated by men—instilled a strong work ethic, she said. “I’ve always had the mentality that I have to work 10 times harder to prove myself,” Nieves said.
Some of the best advice she’s received about leadership that will help in her current job is to support her staffers and welcome their feedback. “If I’m taking care of the staff and providing direction and motivation, I know that the operations will be taken care of,” Nieves said.
She admits to feeling some pressure to perform well in her new role but welcomes the challenge. “I want to make sure that I’m a positive role model for those who follow in my footsteps, that I’m a success story,” she said.
Karen Jacobs
Staff writer for Economy Matters