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Philadelphia Fed Announces Three Promotions

For release: For immediate release
Contact: Katherine Q. Dibling at (215) 574-4119

Philadelphia - The Federal Reserve Bank of Philadelphia has promoted John D. Ackley, Cynthia L. Course, and Todd Vermilyea to assistant vice presidents.

Ackley is promoted from Treasury Services officer to assistant vice president and will assume responsibility for the Treasury Services Department. In his tenure at the Bank, Ackley has held various leadership positions in the Fiscal and Treasury Services departments in support of the U.S. Treasury. He has also been active in various Federal Reserve System groups, providing expertise and supporting collateral management activities for the Federal Reserve’s credit and risk management community. Ackley attended Temple University and graduated from the Bank Administration Institute in 1989.

Course is promoted from enforcement and information services and support officer to assistant vice president in the Bank’s Supervision, Regulation and Credit (SRC) Department. Course began her career in 1994 as a credit policy specialist. Since that time, she has held various management and analyst positions, all in the Bank’s SRC Department. Before coming to the Bank, she served as divisional vice president of the retail lending division, vice president of the investment division, and in several other management positions at the Bank of Mid-Jersey and BMJ Financial Corp. Before that, she was an investigator in the economic crime unit of the Mercer County Prosecutor’s Office. Course also worked for New Jersey National Bank. A New Jersey-licensed CPA, she received an associate’s degree in law enforcement, bachelor’s degree in Accounting, and an MBA from Rider College. She is also a graduate of the Stonier Graduate School of Banking, where she still serves as an advisor.

Vermilyea is promoted from manager of the Retail Risk Analysis Unit to assistant vice president in SRC. At the Bank since 2002, Vermilyea has been working on Basel II implementation and retail risk quantification. He had served as a national bank examiner and an international economic advisor at the Office of the Comptroller of the Currency (OCC). Vermilyea holds a doctorate in economics from the University of South Carolina.

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank holding companies, and provides financial services to depository institutions and the federal government. One of the 12 regional banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware.

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