Director Richard Berner
Prior to his confirmation as OFR Director, Berner served as Counselor to the Secretary of the Treasury with responsibility for standing up the OFR. Before joining the Treasury in April 2011, he was Co-Head of Global Economics at Morgan Stanley. Berner previously served as Chief Economist at Mellon Bank and as a member of Mellon's Senior Management Committee. He served as a Senior Economist for Morgan Stanley, Salomon Brothers, and Morgan Guaranty Trust Company, and as Director of the Washington, D.C., office of Wharton Econometrics. For seven years, he worked on the research staff of the Federal Reserve Board in Washington. He has also been an adjunct professor of economics at Carnegie-Mellon University and George Washington University.
Berner has been a member of the Economic Advisory Panel of the Federal Reserve Bank of New York, the Panel of Economic Advisers of the Congressional Budget Office, the Executive Committee and the Board of Directors of the National Bureau of Economic Research, and the Advisory Committee of the Bureau of Economic Analysis.
Berner has won forecasting awards from Blue Chip Economic Indicators, The Wall Street Journal, Market News, and the National Association for Business Economics. He was awarded the 2007 William Butler Award for Excellence in Business Economics.
Berner received his bachelor’s degree from Harvard College and Ph.D. from the University of Pennsylvania.
Senior Management Team
Cornelius Crowley, Acting Chief Data Officer
Cornelius "Con" Crowley is the Acting Chief Data Officer at the OFR and oversees financial data and data standards. He manages a team that gathers financial and economic data, provides analysis, and develops strategies for data standards to increase efficiency and transparency in the markets. Since joining the OFR in July 2011, Crowley has also designed and developed data management solutions to support the OFR’s research mission. He has broad experience in the financial services industry in the United States, Europe, and Japan. Crowley led operational and strategic initiatives at Merrill Lynch & Co., IBM Corp., and Irving Trust Co. He received his bachelor’s degree from the University of Notre Dame and an M.B.A. from New York University.
Kathleen Victorino, Chief of Staff
Kathleen Victorino is the Chief of Staff at the OFR. Before joining the OFR in 2014, she was Deputy Chief of Investment and Administrative Operations at the Treasury Department’s Office of Financial Stability, which implemented the Troubled Asset Relief Program that injected capital into major banks, automakers, and other companies to help stabilize the U.S. financial system after the financial crisis. Victorino has broad financial services experience in the private sector that includes assisting in the merger of Mellon Bank and the Bank of New York to create the world’s leading asset servicer. She also participated in launching the Charles Schwab Mutual Fund Family; Fidelity Investments’ Charitable Gift Fund, the largest U.S. public charity grant-making organization; and Fidelity Investments’ Employer Services Co., a human resources and payroll outsourcing firm. Victorino graduated with a B.A. from Mills College and received an M.B.A. from Anderson Graduate School of Management at the University of California in Los Angeles.
Barbara L. Shycoff, Chief of External Affairs
Barbara L. Shycoff is the OFR’s Chief of External Affairs. She provides strategic direction and oversight to the OFR division responsible for Congressional affairs, media relations, speechwriting, internal communications, publication development, graphic arts, and external outreach. Shycoff previously worked at the Office of Thrift Supervision as Managing Director of External Affairs and as Special Counsel in that agency’s Regulation and Legislation Division. At America’s Community Bankers, an industry group, she was Senior Vice President of Government Relations and Legislative Counsel. Shycoff also spent nine years at American Express Co. as Vice President of Government Affairs, including three years heading its Office of Privacy and Data Protection. Her public service career includes five years as a committee counsel in the U.S. House of Representatives, first on the Committee on Banking, Finance and Urban Affairs, and then the Subcommittee on Financial Institutions.
Shycoff received a B.S. degree from Old Dominion University, a J.D. from George Washington University School of Law, and an LL.M. in banking law from Boston University School of Law’s Morin Center for Banking Law Studies. She also serves as an arbitrator on the Court of Arbitration for Sport in Lausanne, Switzerland, which is empowered to hear disputes between athletes, anti-doping authorities, the Olympic Committees, and other sports governing bodies.
Matthew P. Reed, Chief Counsel
Matthew Reed is Chief Counsel for the OFR. He also is Chairman of the Regulatory Oversight Committee of the global Legal Entity Identifier system, a committee of more than 50 authorities from around the globe overseeing a new system of financial entity identification. Previously, he was a senior lawyer at the Securities and Exchange Commission (SEC), where he held a range of positions, including overseeing legal issues for the SEC’s interactive data-filing program and deputy for the chairman’s initiative to use technology to transform financial disclosures and reporting. Reed also was a lead investigator in an SEC case involving Enron Corp.’s attorneys and was an advisor to an SEC commissioner. His previous public service work included positions as an advisor to a U.S. senator and lead trial counsel on dozens of cases for the Department of Justice. Reed graduated with high honors from the George Mason School of Law.
Nicole Bynum, Chief Operating Officer
Nicole Bynum is the Chief Operating Officer of the OFR and manages the infrastructure of the Office, including strategic planning, financial management, program management, human resources, governance, contract administration, facilities, and records management. She previously held the same position at the Department of the Treasury’s Office of Financial Stability, which implemented the Troubled Asset Relief Program. Before joining the federal government, Bynum worked from 2006-09 at Fannie Mae, where she managed the company’s compliance with regulatory requirements and mitigated risks as Director of Regulatory Reporting and oversaw remediation of the company’s deficiencies as Director of Remediation Management. During a 10-year stint as an attorney with MCI, she managed the company’s defense in class action litigation, negotiated real estate agreements, and developed a companywide ethics program. Bynum graduated with a B.S. degree from Georgetown University and received her law degree from the University of Virginia.
Research and Analysis
Patricia Mosser, Deputy Director for Research and Analysis
Patricia Mosser is the Deputy Director for Research and Analysis for the OFR. She oversees an interdisciplinary team of researchers and analysts producing fundamental research, as well as current analysis and policy studies on a variety of financial stability topics. Recent OFR research and analysis include models of financial interconnectedness, a report on activities and associated risks in the asset management industry, and a paper discussing the benefits of a unique mortgage identifier. Prior to joining the OFR in 2013, Mosser was a Senior Vice President in the Markets Group at the Federal Reserve Bank of New York, where she was responsible for financial market analysis, monetary policy operations, and analysis of financial stability and reform. Previously she served as an economist in the Federal Reserve Bank of New York’s Research and Statistics Group and was on the faculty of the Economics Department at Columbia University. She has a Ph.D. in economics from Massachusetts Institute of Technology, a M.Sc. with distinction from the London School of Economics and Political Science, and a bachelor’s degree from Wellesley College.
John Talbot, Chief Technology Officer
John Talbot, Chief Technology Officer, joined the OFR in 2011 to launch the OFR’s Information Technology (IT) program and plan, and design and build all technical capabilities. He is responsible for all OFR analytic systems, data stores, applications, and infrastructure, as well as the OFR Information Security and Privacy programs. In 2012, together with the OFR’s Chief Data Officer, he launched the OFR Data Management program. Talbot has more than 25 years of IT experience in the financial services industry with companies such as Deutsche Bank, Salomon Brothers, Sanford C. Bernstein, and Alliance Capital. Prior to joining the OFR, he was an Associate Chief Information Officer with the Department of the Treasury. Talbot graduated with a B.A. in mathematics from Rutgers University and served as an engineer officer in the Marine Corps.