For immediate release: June 27, 2024

Cheryl Venable - Federal Reserve Bank of Atlanta

The Federal Reserve Bank of Atlanta has named Cheryl Venable as first vice president and chief operating officer, effective August 1, 2024. She will oversee the Bank's day-to-day operations and serve as vice chair of the Sixth District's executive leadership committee. Venable, who has spent her entire career in the Federal Reserve System, most recently served as chief of payments operations for Federal Reserve Financial Services and as an Atlanta Fed executive vice president.

As first vice president, Venable will be a member of the Discount Committee, which reviews District discount window lending, and serve as backup to the Atlanta Fed president in the execution of their monetary policy responsibilities. She succeeds André T. Anderson, who is retiring on July 31, 2024, after more than 40 years of service to the Bank.

"Cheryl is an exceptionally well-qualified leader whose expertise, experience, and strategic vision will serve her well as first vice president and chief operating officer of the Atlanta Fed," said President Raphael Bostic, who served as chair of the search committee. "I look forward to partnering with Cheryl to advance the Bank's strategic initiatives, continue to drive our strong commitment to excellence, and work to ensure an economy that works for everyone."

Venable's promotion to first vice president followed an extensive five-month internal and external search, with assistance from Bridge Partners executive search firm. Pursuant to section 4 of the Federal Reserve Act, Venable was appointed first vice president by the Atlanta Fed's Class B and C directors, with approval by the Federal Reserve Board of Governors, to the remainder of the current term, which expires at the end of February 2026.

"Cheryl is a seasoned and visionary Federal Reserve leader who demonstrates superior business management and operational expertise, high-quality strategic thinking, and exemplary people leadership experience," said Claire Lewis Arnold, 2024 chair of the Atlanta Fed board of directors. "I am confident Cheryl's distinguished background will help advance the mission of the Federal Reserve in the years ahead."

As chief of payments operations, Venable managed the teams responsible for Federal Reserve Financial Services payments operations, including FedACH, checks, wholesale (Fedwire Funds Service, Securities, and the National Settlement Service), and the FedNow Service. She also chaired the Federal Reserve's Business Technology Council for the past two and a half years.

Venable's Federal Reserve career began in 1991, when she joined the St. Louis Fed as a management trainee in the Accounting and Payment System Risk Department. She joined the Minneapolis Fed in 1996 and took on roles of increasing responsibility, including senior vice president over FedACH operations and automation. There, she also led the Information Technology Division and served on the Ninth District's management committee.

In 2010, she joined the Atlanta Fed as chief information officer for the Retail Payments Office. She later served as the retail payments product manager and led the transition of the Retail Payments Office into Federal Reserve Financial Services. She has been a member of the Atlanta Fed's executive leadership committee since 2011.

A Missouri native, Venable earned her bachelor's and master's degrees in business administration from Saint Louis University. She was board chair of Visiting Nurse Health System in Atlanta from 2019 through 2021 and served on its board of directors for nearly a decade.

The Federal Reserve Bank of Atlanta serves the Sixth Federal Reserve District, which encompasses Alabama, Florida, Georgia, and sections of Louisiana, Mississippi, and Tennessee. As part of the nation's central banking system, the Federal Reserve Bank of Atlanta participates in setting national monetary policy, supervises numerous commercial banks, and provides a variety of financial services to depository institutions and the US government.