Sushmita Shukla

Sushmita (Susmita) Shukla is the First Vice President and Chief Operating Officer of the Federal Reserve Bank of New York. In this role, she is the New York Fed’s second ranking officer. Together with the New York Fed’s President and Chief Executive Officer, she is responsible for establishing, communicating, and executing the strategic direction of the organization. She will also serve as an alternate voting member of the Federal Open Market Committee.

Ms. Shukla has extensive experience leading large-scale enterprise transformation initiatives, as well as an in-depth knowledge of technology and Agile innovation methods. She has served in leadership roles in the insurance industry for nearly 20 years.

Most recently, Ms. Shukla was Senior Vice President and Chief Operations Officer for International Accident & Health at Chubb, the world’s largest publicly traded property and casualty insurance company, where she led operations, claims technology, and strategic programs for the International Accident & Health business in 51 countries. In that role, Ms. Shukla drove operational efficiencies and transformed customer service and the customer experience.

Previously, Ms. Shukla led an enterprise-wide transformation program at Healthfirst, where she started as Vice President of Enterprise Business Solutions in 2016 and then served as interim Senior Vice President of Enterprise Transformation in 2017. Prior to that, Ms. Shukla spent 10 years at The Hartford, where she held various roles, ultimately becoming Vice President of Strategic Programs, Billing & Operations Shared Services. In this capacity, she led the turnaround of a significant program. Her various operations and technology teams realized multi-million-dollar savings through process improvements, digital initiatives, and automation technologies. She and/or her teams won the Chairman’s award at The Hartford in 2009 and 2013.

Ms. Shukla has also held positions at Liberty Mutual, Merrill Lynch, and GiantBear Inc., a wireless technology and application service provider in New York.

She has an MBA from New York University and a bachelor’s degree in electrical engineering from the University of Mumbai.

Ms. Shukla resides in Connecticut. She is married with two daughters.