FedNow 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.
This position is part of the FedNow central risk 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, 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 central risk team, including developing policies and procedures, project plans, risk assessments and profiles, and report-outs to FedNow program leadership and oversight authorities.
What would be expected of you-
·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.
Expertise you would bring-
· Knowledge and experience normally acquired through, or equivalent to, the completion of a Master's degree or MBA and a minimum of 5 7 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.
· 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.
Logistics & Requirements-
· 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).
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.