Product Management Lead, Assistant Vice President
The Federal Reserve is developing a new interbank 24x7x365 real-time gross settlement (RTGS) service with integrated clearing functionality, called the FedNowSM service. This service will help enable financial institutions provide their customers with the ability to send and receive payments any time, any day, and have full access to those funds within seconds. This position is a unique opportunity to be part of a new mission-critical Federal Reserve initiative that will be transformative to the payments landscape in the United States.
The Product Management Lead will lead market research to understand the competitive landscape and industry trends for faster payments. The lead will identify industry needs, product solutions, and develop the strategy to meet the needs of faster payment participants. The lead will oversee the planning and development of functional requirements and use cases, develop the FedNowSM service product roadmap, provide expertise to support the FedNowSM organization's business activities, and represent the FedNow service within the FRS and in the industry.
What will be expected of you-
Lead market research related to competitive landscape, product/features, industry trends around faster payments
Analyze and evaluate key industry partnerships that may assist in the delivery of future market solutions
Identify industry needs, product solutions, and develop the strategy to meet the needs of faster payment customers
Become a subject matter expert on the product and operation of the system and educate internal and external users
Manage / prioritize product/feature backlog and lead development of the product roadmap
Oversee the planning and development of functional requirements, use cases/scenarios, and proposals for new features/functionality
Provide product expertise to support sales, marketing, industry inquiries, regulatory inquiries, workgroups, and industry events, as required
Represent the FedNow Service within the FRS and to the Industry through various presentations, meetings, and conference participation
Expertise you will bring-
Banking and payments experience, especially knowledge of ACH, FEDWIRE or CHIPS payments processing and formats, and clearing and settlement is strongly preferred.
Experience leading a team on large projects
Expertise in ISO20022 message standards, work flow management, payment fraud monitoring, customer/industry directories, or data warehouse design desired
Previous management experience preferred
Ability to effectively work remotely and across teams
It's added value if you have-
MBA preferred and at least 7 years in financial services, payments, or technology
Strong analytical and problem-solving skills with demonstrated ability to quickly gather, analyze and synthesize information
Strong written and verbal communication skills, with ability to express ideas in a clear, concise and compelling manner and tailor communications for different audiences
Detail-oriented and capable self-starter with the ability to explore innovative ways to perform tasks in an efficient and timely manner as an individual and in a team environment
Excellent relationship management and collaboration skills including the ability to influence and build consensus across teams; demonstrated experience delivering successful outcomes on projects involving multiple stakeholders with differing / diverging interests highly desired
Ability to work independently in a remote team environment and to proactively identify product opportunities that arise related to business trends and market developments
Strong project management skills to include organization, planning, and execution with the ability to manage various tasks simultaneously and work under tight deadlines with conflicting priorities, while providing high quality products
Logistics & Requirements-
The Federal Reserve System is committed to a diverse and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.
All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.
The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.
For this job, any offer of employment is contingent upon successfully passing a two-phase security screening. The first phase consists of the satisfactory completion of a physical examination (including a drug screening), reference checks, and a security investigation consisting of credit and criminal history checks.
The second phase, which might not be complete until after you begin working at the Reserve Bank, is an additional risk-based security screening determined by the risk rating of the position. Depending upon the sensitivity of the position, this phase may include, and is not limited to, citizenship status verification, and personal interviews with the candidate, references, and prior employers.
All candidates must be U.S. citizens or lawful permanent resident aliens with at least three or more years of U.S. residency from the date of legal entry to the U.S