Carol McDermott is a senior vice president in the Financial Support Office (FSO) headquartered at the Federal Reserve Bank of Boston. Carol joined the Bank and FSO in 2016 as a vice president, having served previously at State Street Corporation as senior vice president in charge of financial planning and analysis. In her current  role, Carol has been spearheading the Federal Reserve System budget process, and helping to transform System financial management practices – through multi-year planning and budgeting, integration of forecasting, and adoption of analytics.

The FSO is the System’s national function office for financial-management support and leadership. In all of these roles, Carol works closely with Reserve Bank and business line CFOs, and the staff of the Federal Reserve Board of Governors.

Carol holds Bachelor’s degree and an M.B.A. from the University of Massachusetts at Amherst.