Shonda Clay

Executive Vice President, Chief of Product and Relationship Management for Federal Reserve Financial Services



Shonda Clay is an executive vice president of the Federal Reserve Bank of Chicago and chief of product and relationship management for Federal Reserve Financial Services (FRFS). Clay leads integrated product development for the Federal Reserve’s portfolio of payment products and FRFS engagement and communications with financial institutions and the industry more broadly, including customer relations, customer experience, marketing communications and research, and the Federal Reserve’s payment system improvement initiatives. Clay also serves on the Bank’s executive committee, the Bank’s senior decision-making body, and serves as an executive sponsor of a cross-Bank group focused on payments and financial stability.

Prior to her current role, Clay was an executive vice president at the Federal Reserve Bank of Chicago and product manager for the Customer Relations and Support Office (CRSO) and served as director for the Federal Reserve’s Strategies for Improving the U.S. Payment System. Clay’s more than 30-year career with the Federal Reserve began at the Federal Reserve Bank of Dallas. In 2001, she transitioned to the CRSO, headquartered at the Federal Reserve Bank of Chicago.

Since then, Clay has held several leadership positions with increasing responsibility in the areas of customer relations, marketing, industry relations, customer set-up and support and FedLine®.

Clay holds a master’s degree in business administration from Northwestern University, J.L. Kellogg School of Management, and a bachelor’s degree in business administration from the University of North Texas.

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