Kenneth (Ken) Montgomery is the first vice president and chief operating officer at the Federal Reserve Bank of Boston. Together with the Bank president, Montgomery leads the strategic direction and effective management of the Reserve Bank's regional and national responsibilities.
In a national capacity, Ken is leading the Federal Reserve System's FedNowSM Service to support faster payments in the United States with interbank real-time gross settlement and integrated clearing. This initiative is part of the Federal Reserve's ongoing, collaborative efforts to enhance the speed, safety, and efficiency of the U.S. payment system.
Ken also directs financial management strategies and operations for the Federal Reserve System's Financial Support Office. He serves on the Enterprise Payments Committee, the Committee on Spending Stewardship, and several other governance and advisory committees. He is a former chair and current member of the Federal Reserve's Conference of First Vice Presidents.
Prior to joining the Boston Fed in 2011, Ken was executive vice president and Federal Reserve System chief technology officer based out of the Federal Reserve Bank of Richmond. In this role, he presided over a broad swath of information technology functions that guide and support technology groups at Regional Banks across the Federal Reserve System. His responsibilities included business consulting, technology and strategic planning and standards development, information security policy and risk management, high-intensity solutions engineering, and overall national program management. Montgomery's Fed career began at the New York Fed in 1983.
Montgomery, originally from Kearny, New Jersey, received a bachelor's degree from Seton Hall University and M.B.A. from Fairleigh Dickinson University.
He is an executive committee member of the Greater Boston Chamber of Commerce. He previously served as chair of the Boston Private Industry Council—Boston's Workforce Development Board, and as an executive committee member of the Boston Municipal Research Bureau. He also serves as a national advisory board member and past vice chairman of the Advanced Cyber Security Center, a nonprofit consortium made up of industry, university, and government organizations, and is a member of the Massachusetts Cyber Security Council.
Federal Reserve Bank of Boston
First Vice President & Chief Operating Officer, Jan. 2011-
Interim President and Chief Executive Officer, Oct. 2021-June 2022
Federal Reserve System Information Technology (Federal Reserve Bank of Richmond)
Executive Vice President & Chief Technology Officer, Feb. 2010-Dec. 2010
Deputy Director & Chief Technology Officer, 2000-2010
Senior Vice President & Division Director of Technical Services, 1999-2000
Vice President & Division Director of Technical Services, 1997-1999
Vice President of Technical Services, 1994-1997
Assistant Vice President, 1992-1994
Federal Reserve Bank of New York
Manager, Contingency Operations and Quality Assurance, 1990-1992
Chief, Quality Assurance Division, 1988-1990
Chief, Switching Services Division, 1986-1988
Chief, Analytical Computer Division, 1984-1986
Assistant Chief, Analytical Computer Division, 1983-1984
Senior Systems Representative and Project Leader, 1981-1983
B.S., Seton Hall University, 1981
MBA, Fairleigh Dickinson University, 1989
Chair, Boston Private Industry Council
National advisory board member and past Vice-Chair, Advanced Cyber Security Center
Director and Member, Greater Boston Chamber of Commerce Executive Committee
Member, Massachusetts Cyber Security Strategy Council
Role of the First Vice President and Chief Operating Officer
The first vice president and chief operating officer works closely with the president and chief executive officer to establish strategic direction for the Bank and ensure coordination with other Reserve Banks and Federal Reserve System-wide efforts. He or she is charged with overseeing the operations and activities of many functional areas of the Bank and other national responsibilities on behalf of the Federal Reserve System. The first vice president works directly with the Boston Fed’s Board of Directors as well as business, civic, community, and other public constituencies. In the absence of the Bank’s president, the first vice president serves as chief executive officer.