James Aramanda serves as President and Chief Executive Officer of The Clearing House, a 165-year old enterprise that operates as the largest private-sector payment system in the United States, clearing and settling approximately $2 trillion in bank-to-bank payments each day. The Clearing House is owned by 25 of the largest commercial banks in the U.S., whose CEOs comprise the organization’s Board of Directors. In this capacity he also oversees The Clearing House Association – the nation’s first banking trade association. The Association engages with U.S. and global regulators and policymakers on behalf of The Clearing House’s member banks, advocating for safe, sound and effective payments regulatory policy.
Aramanda has led The Clearing House since 2008 when he assumed leadership of the organization at the height of the financial crisis. In this role, he oversaw the growth of The Clearing House Association, which has brought a research and data driven approach to advocacy in order to help inform the development of the post-crisis regulatory framework. Throughout the Dodd-Frank rulemaking process, the Association had become recognized and respected as a leading source for factual data-driven analysis to inform the rulemaking and policymaking processes in the areas of financial and payments systems regulation. In this capacity, The Clearing House has frequent interaction with leading regulators and policymakers, including regulatory agency heads, Federal Reserve Bank presidents, and legislators. Today, the Association focuses on all payments related rule and policy making processes. On the payments front, The Clearing House, under Aramanda’s leadership, is leading the implementation of faster payments in the U.S., with the development of the RTP system which went live in 2017. This is the first new industrial strength payments rail to be introduced in the U.S. in over four decades, bringing new levels of speed and safety in payments to businesses and consumers.
Prior to joining The Clearing House, Aramanda was Group President of Automatic Data Processing, Inc., leading the brokerage, claims and dealer-service businesses in 50 countries. Prior to ADP, Aramanda served as Vice Chairman of Mellon Financial Corporation and was a member of its Executive Committee. During his 25-year tenure at Mellon (now Bank of New York Mellon), he was the executive officer responsible for many of its businesses, including treasury services, cash management, brokerage services, securities services administration, and Buck Consultants (a global HR benefits consulting and pension actuary firm).
Aramanda is currently a director of the Bergen County United Way. He is a past director of Solium Capital, Inc., and CIBC Mellon, and was a member of the Farmer School of Business Advisory Board. Aramanda earned a Bachelor of Science degree from Miami University in Oxford, Ohio.