The board of directors of the Federal Home Loan Bank of Boston has named M. Susan Elliott to serve as interim president and chief executive officer of the bank effective today, following Michael A. Jessee’s retirement April 30.

Elliott will retain her current responsibilities as executive vice president and director of member services during this interim period.

The bank said it has no employment arrangement with Elliott. Neither Elliott nor any member of her immediate family has or has had any material interest in any transaction or proposed transaction with the bank. Elliott’s base annual salary is $294,000.

Elliott, age 54, has been executive vice president of member services of the bank since January 1994.

She previously served as senior vice president and director of marketing from August 1992 to January 1994. Elliott joined the bank in 1981.

The bank’s board of director’s search committee continues to work to find a permanent successor to Jessee.