Senior Risk Business Strategist Senior Risk Business Strategist …

Federal Reserve Bank of Boston
in Boston, MA, United States
Permanent, Full time
Be the first to apply
Federal Reserve Bank of Boston
in Boston, MA, United States
Permanent, Full time
Be the first to apply
Senior Risk Business Strategist
FedNow Senior Risk Business Strategist FedNow Senior Risk Business Strategist


The Federal Reserve is developing a new interbank 24x7x365 real-time gross settlement (RTGS) service with integrated clearing functionality, called the FedNow service. This service will help enable financial institutions to 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.

Position Overview

This position is part of the FedNow Risk and Compliance team and requires a professional individual contributor providing risk management services to key stakeholders in a shared services environment. This is an important role in helping to embed a forward-looking risk culture by promoting risk awareness and management within the operational areas of the initiative. The incumbent is expected to have risk management, strategic, organizational and leadership skills required to design and execute leading methods for risk assessments and reporting across multiple teams/units and timelines, working in collaboration with other managers and operating teams. The incumbent will be tasked with executing activities that support the risk management responsibilities of the FedNow Risk and Compliance team, including developing policies and procedures, project plans, risk assessments and profiles, and report-outs to FedNow program leadership and oversight authorities.

Key Responsibilities

  • Collaborate with FedNow program teams to identify, analyze, and respond to FedNow program-level and enterprise-level risks, including conducting assessment activities and action plans.

  • Conduct a range of analytical, advisory, and reporting activities in support of program operations, including developing a program risk profile and communicating status with program leadership and oversight authorities.

  • Identify opportunities for risk management process improvements and develop solutions to promote the seamless delivery of services.

  • Lead/participate in a variety of planned or ad-hoc program initiatives to establish a forward-looking risk culture within the FedNow team, including training and communication-focused activities.

  • Lead/contribute to strategic, results-driven initiatives designed to improve operating efficiency and effectiveness.

Knowledge, Skills and Experience Required

  • Knowledge and experience normally acquired through, or equivalent to, the completion of a Master's degree or MBA and a minimum of 7 10 years of job-related experience.

  • Demonstrated ability to lead and influence change in complex environments. Ability to be recognized as an influential, collaborative leader.

  • Demonstrated track record of executing risk management activities, including identifying, assessing, action-planning, and reporting.

  • A demonstrated track record of designing, assessing, planning and executing innovative cultural change/organizational initiatives.

  • Critical thinking, including the ability to deal with ambiguity, strong analytical, problem-solving, and decision-making capabilities.

  • Interpersonal skills and sound organizational awareness. Builds and maintains effective relationships with stakeholders across the department, Bank and System.

  • Business and financial acumen, including at least an intermediate knowledge of the department`s budget and core business activities, and System activities.

  • Project management skills, including the ability to create comprehensive project and communication plans.

  • Planning and time management skills. Ability to identify, plan, and pursue multiple initiatives simultaneously and deliver superior results on time and with minimal supervision.

  • Initiative and innovation toward improving efficiency, enhancing effectiveness, and achieving high-quality results. Actively supports and promotes a continuous improvement environment.

  • Highly developed oral and written presentation and communication skills.

 Other Considerations

  • Ability to work in an office environment and to travel to all Reserve Bank offices as needed.

  • Ability to perform office duties such as using a computer keyboard.

  • Work involves sitting most of the time but may involve going to other offices and meeting rooms.

  • Ability to work in demanding situations and handle multiple priorities.

  • Minor lifting and carrying (less than 5 pounds).

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.

Primary Location: MA-Boston
Work Locations:
Organization: Federal Reserve Bank of Boston
Schedule: Full-time
Job Type: Experienced
Shift: Day Job
Travel: Yes, 15 % of the Time