Member of the Month

~November~

Hughes

Christine Cumming, Ph.D
First Vice President
Federal Reserve Bank of New York

Christine Cumming was introduced to the Society by Joseph Hughes, when asked to speak on a panel discussing supervisory issues in the after math of a crisis. Ironically, the two recently organized a wonderful plenary panel at our 78th International Atlantic Economic Conference in Savannah, Georgia on the topic of “Too Big to Fail”! Christine has been a long time member of the society as well as a long time employee of the New York Federal Reserve Bank. She recently announced her retirement effective June 2015. We are wishing you all the joy and happiness that a happy retirement can bring, Christine! 

Press Release: http://www.newyorkfed.org/newsevents/news/aboutthefed/2014/oa141022.html

What do you find most enjoyable about your International Atlantic Economic Society Membership?:

The Society attracts superb speakers for its signature events, the Presidential address, the Vickrey lecture, and the plenary session(s).  I recall my first time at the Society’s meeting following a highly provocative plenary session on regulatory and supervisory failure in the crisis.  I’ve also attended the very impressive presentations by the finalists in the best undergraduate paper competition.

What types of projects/research are you working on and what sparked your interest?

My policy-related work today revolves around the development of a credible international strategy for resolving failing global systemically important financial institutions or G-SIFIs.  I chair a working group under the Resolution Steering Group of the Financial Stability Board in which the jurisdictions conducting resolution planning meet to identify and work through major issues.  The Cross-Border Crisis Management Group is named for the small groups of supervisors and resolution authorities planning resolution for each individual G-SIFI, called crisis management groups or “CMGs”.    

What inspires/motivates you in your line of work or field of study?

Understanding what issues develop in a rapidly changing international financial system and facilitating actions that make the system sounder and safer.  I especially like the perspective from the central bank, with its traditional concern for financial stability and its panoply of relationships and policy tools. 

What advice would you give to someone who is considering entering your line of work/field of study?

First, choose work for your career that is something you love.  Every career has its ups and downs; doing something you love is the best buffer for the tough times.  Second, really explore what’s available in the public sector.  While your thesis advisor/professional mentor will likely encourage you to pursue an academic career, in the public sector, such as the central bank, you can pursue academic research and work with others to shape policy that is in the field of endeavor you study.    

Favorite hobby:

I’m a gardener, a very humble one, given the northern climate where I garden.  When not overwhelmed with weeding, I’m also a birdwatcher.

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