Ms. Raskin is a Federal Reserve governor and a former state banking regulator. At the Treasury, Ms. Raskin would take the position held by Neal S. Wolin since the beginning of the administration.

In a statement about Ms. Raskin, Jacob J. Lew, the Treasury secretary, said, “Sarah has a deep understanding of banking and financial regulatory issues as well as a firm grasp of how to run large, complex organizations.” He added, “Sarah has demonstrated a strong commitment to protecting consumers, and she shares my conviction to do everything possible to increase job creation, accelerate economic growth and strengthen the middle class.”

A person with knowledge of the process, but without permission to speak on the record about personnel policy, said Mr. Lew had put forward Ms. Raskin’s name for the job and was particularly interested in her administrative abilities. The deputy secretary takes a large role in running the sprawling department, with tasks as diverse as the minting of currency and the collecting of taxes.

Mr. Lew also appreciated her knowledge of financial markets and regulation given the enormous continuing task of putting into effect the Dodd-Frank regulatory reform law, this person said.

Ms. Raskin is lawyer who was trained at Harvard and who worked as a Maryland state regulatory official before joining the Fed in 2010. She had earlier worked on Capitol Hill and at the Promontory Financial Group, a consultancy.

Ms. Raskin’s move to the Treasury would leave yet another vacancy at the central bank. The Fed chairman, Ben S. Bernanke, is widely expected to leave at the end of his term in January, and Elizabeth A. Duke, a Fed governor, plans to step down in late August.

The search for a new Federal Reserve leader has raised questions about the relative dearth of women in top economic policy-making positions. Janet Yellen, the Fed vice chairwoman, is considered a contender for the top job. Lawrence H. Summers, the former Treasury secretary and economic adviser to Mr. Obama, is also considered a leading candidate to succeed Mr. Bernanke.

Some Democratic members of Congress and economists have urged Mr. Obama to appoint Ms. Yellen, while several current and former White House aides are said to be pressing for Mr. Summers.

Article source: http://www.nytimes.com/2013/08/01/business/economy/raskin-would-be-first-female-deputy-at-treasury.html?partner=rss&emc=rss