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Richmond Fed at a Glance

June 2018

Becky Bareford: Excited About Our Next Steps

Becky Bareford

Becky Bareford’s first exposure to how the economy works came from an unlikely source — her job at a marine store in eastern Virginia.

“Boats are a luxury item,” she said. “When there’s an economic downturn, you feel it in the boating business.”

Bareford now has a unique view of the economy as the Richmond Fed’s new first vice president, succeeding Mark Mullinix who retired June 1. Her 20 years of experience leading a variety of Bank and System functions was in large part the reason she was selected for the role.

“Becky is a respected and influential leader within our Bank and the Federal Reserve,” said Tom Barkin, president of the Richmond Fed. “In addition to her outstanding operational track record, she’s an authentic leader with unwavering integrity and the ability to build strong, trusting relationships.”

A native of Virginia and a graduate of Virginia Tech, Bareford began her Richmond Fed career in a variety of accounting and procurement functions, which gave her a foundational view of the Bank’s many business lines. Leadership in Corporate Accounting, System Payroll and Human Resources — including as chair of the System’s Subcommittee on Human Resources — gave her a deeper understanding of key functions and prepared her for the role of chief operating officer.

“Serving in Federal Reserve System functions helped me develop a System-first mindset and the importance of taking care of our customers,” Bareford said. “Leading the HR team confirmed the value of having the right people in the right places at the right time.”

While she acknowledges her experience has led her to this point in her career, Bareford said she is looking forward to learning even more — especially as the Bank embarks on the planning process for its next three-year strategic plan.

“Every day I learn something new here,” she said. “Every day I meet someone who cares deeply about what we do and who teaches me something or adds to what I know. I’m excited about the next steps in our journey.”

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