Fednow Product Management Lead Fednow Product Management Lead …

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
Fednow Product Management Lead
FedNow Product Management Lead

Product Management Lead


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 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 Contributions

The Product Management Lead will participate in 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, provide input into the FedNow service product roadmap, and provide expertise to support the FedNow organization's business activities.

What will be expected of you

  • Review/participate in 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 provide input into 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

  • Management responsibilities

Expertise you would 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

Its added value if you have

  • 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

  • May include remote working arrangements and some required travel, which will vary during project phases

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.

Primary Location: MA-Boston
Work Locations:
Organization: Federal Reserve Bank of Boston
Schedule: Full-time
Job Type: Experienced
Shift: Day Job
Travel: Yes, 50 % of the Time