Stephen Ong is a vice president in the Supervision and Regulation Department of the Federal Reserve Bank of Cleveland.

He has primary responsibility for the development of the strategic direction of the department. In addition, he is responsible for the banking structure and risk analysis sections of the department, which coordinate the approval of applications for expanded activities of financial institutions and monitor trends in the financial services industry.

Mr. Ong joined the Cleveland Fed in 1988 as a bank examiner in the Banking Supervision and Regulation Department. In 1993, he was instrumental in starting up the examination function at the Bank’s Cincinnati Office, where he served as regional director. He returned to Cleveland in 1996, when he was promoted to assistant vice president in charge of the specialty areas of examination, which include consumer compliance, information systems, and fiduciary and securities activities.

In January 1998, Mr. Ong was appointed corporate secretary and assumed responsibility for the Bank’s Corporate Communications and Community Affairs Department, which provides support to the Bank’s Board of Directors and senior officers; facilitates external communications; and develops programs to promote community reinvestment and fair lending in the banking industry. From 1997 to 2000, he also worked closely with the Conference of Presidents of the Federal Reserve System, coordinating the activities of the Conference and formulating their agendas as its secretary. He was promoted to his current position in May 2001.

Mr. Ong is also active in the community, serving as president of MotivAsians for Cleveland, a non-profit organization focused on community involvement by Asian professionals through the development of leadership skills. He is also a member of the Board of Trustees of the Federation for Community Planning, and a member of the Deputy Group of Cleveland Tomorrow. In addition, he is a member of the Advisory Committee of the Finance Department in the College of Business Administration at the University of Akron in Akron, Ohio.

A native of Barberton, Ohio, Mr. Ong holds a bachelor’s degree in business administration from the University of Akron.