Shonda Clay
First Vice President and Chief Operating Officer
About
Shonda Clay is first vice president and chief operating officer of the Federal Reserve Bank of Chicago, effective March 1, 2026. In this role, Clay oversees the operational and financial performance of the Chicago Fed, including its branch in Detroit. As the second-ranking officer of the Bank, she serves as vice chair of the Bank’s Executive Committee and works closely with senior leaders in Chicago and across the Federal Reserve. Clay also supports the Chicago Fed president in the execution of monetary policy responsibilities.
Previously, she was executive vice president at the Chicago Fed and chief product and relationship officer for Federal Reserve Financial Services (FRFS), leading integrated product development for the Federal Reserve’s portfolio of payment products and FRFS engagement and communications with financial institutions and the broader industry. Before that, Clay was executive vice president and product manager of the Customer Relations and Support Office headquartered at the Chicago Fed. She joined the Federal Reserve in 1991.
Clay has an MBA from the Northwestern University Kellogg School of Management and a bachelor’s degree in business administration from the University of North Texas.
