Promontory Financial Group
Stacy is a Managing Director at Promontory Financial Group, an IBM Company. Before joining Promontory, Stacy worked for almost 20 years in the Federal Reserve System, holding various leadership positions. She worked on a range of policy and supervisory issues related to operational risk and payment systems. Most recently, she was head of the operational risk department in the Federal Reserve Bank of New York’s financial institution supervision group. Stacy earlier led the New York Fed’s financial infrastructure department, working with major market participants and other domestic and foreign supervisors on improving risk management practices in the over-the-counter (OTC) derivatives markets. She co-chaired the Financial Stability Board’s OTC Derivatives Working Group from 2010-2011, contributing to its October 2010 report, “Implementing OTC Derivatives Market Reforms.”
Before joining the New York Fed, Stacy led the risk and policy and the credit risk management departments in the Federal Reserve Bank of Richmond’s banking supervision group, where she was responsible for a team of risk examiners and built a quantitative-analysis team to review banks’ internal models used for Basel II. At the Richmond Fed, she was also responsible for Federal Reserve lending to depository institutions through the discount window. Stacy was previously an assistant director at the Federal Reserve Board, where she led and participated in several policy initiatives on a wide range of topics including Basel II capital for operational risk, operational resiliency of financial markets, credit extensions, and payment system risk. Stacy also served as the Federal Reserve Board’s representative to the operational risk subgroup of the Accord Implementation Group (under the Basel Committee on Banking Supervision) from 2004-2007 and was responsible for drafting the operational risk sections of the Basel II rule, working closely with other federal regulatory agencies.