FedNow Product Management, Alias-Based Payments, Vice President
The future of payments is FedNowSM The Federal Reserve Banks are developing a new interbank 24x7x365 real-time gross settlement (RTGS) service with integrated clearing functionality. This service will be the first new business line for the Fed in 40 years and will be transformative for United States Payments by enabling nationwide access across more than 10,000 Banks. The new service, will help enable financial institutions to deliver end-to-end faster payment services to their customers. With the FedNow network, banks will be able to provide their customers the ability to send and receive payments any time, any day, and have full access to those funds within seconds. Such a service will also enable the ongoing innovation of payments products offered by Banks, non-Banks and FinTech companies.
The Federal Reserve is actively exploring various approaches to provide participants in the FedNow Service the means to facilitate alias-based payments. The VP of Product Management with responsibility for alias-based payments reports to the Head of FedNow Product Management and will be responsible for efforts to design direct and ancillary functionality to facilitate alias-based payments – in support of “person-to-person” (P2P) and other use cases. The Lead will oversee the formation and execution of a team responsible to the activities related to bringing the specific needed functionality to market. The Lead will provide input on technical design, and will work with industry readiness and onboarding teams to ensure customer-facing readiness strategies are developed as appropriate.
Expertise you would bring –
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The Federal Reserve Bank of Boston 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.
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, work and residency eligibility verification, and personal interviews with the candidate, references, and prior employers.
All applicants must have resided in the United States for at least three (3) years.