Board of Governors of the Federal Reserve System

Federal Reserve System Appoints Payments Security Strategy Leader

The Federal Reserve System on Thursday announced the appointment of Federal Reserve Bank of Chicago Senior Vice President Todd Aadland as its Payments Security Strategy Leader. In this role, Aadland will lead the System's activities to address fraud risk and advance the safety, security and resiliency of the payment system. His responsibilities will include chairing the Secure Payments Task Force, comprised of more than 170 payments stakeholders.

"Todd's combination of business experience and technical expertise is exactly what is needed to partner with the industry on improved payments security," said Gordon Werkema, the Federal Reserve's payments strategy director to whom Aadland will report. "Equally important, he has a collaborative leadership style that will be key to advancing on some very tough industry challenges."

Aadland's 20 years of Federal Reserve experience includes leading the business strategy, development and management of the Federal Reserve Banks' FedLine® access solutions, which are used by more than 10,000 U.S. financial institutions to transact $4 trillion of payment value daily. Aadland has also led risk management, security and application development functions. He holds a master of business administration degree from the Kellogg Graduate School of Management at Northwestern University and a master of science in electronic commerce from DePaul University. He is a Certified Information Systems Security Professional and was commissioned by the Board of Governors as a bank examiner.

Additional information about the Federal Reserve's Strategies for Improving the U.S. Payment System, including the Secure Payments Task Force, is available at www.FedPaymentsImprovement.org.