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.
The Product Manager is responsible for supporting the end-to-end product management life cycle for the FedNow service and will be a subject matter expert on features and functionality of the service. The product manager will also contribute to analysis, modeling and decision-making for product and pricing initiatives. The product manager will provide key updates on the product teams progress, findings, and risks.
What will be expected of you
- Serve as the product manager to support the end-to-end product management life cycle, including providing input into product road map, writing clear, concise and comprehensive functional requirements, reviewing business design documents, drafting customer communications, and coordinating implementation activities
- Become a subject matter expert on product
- Assist in development of test scripts and participate in testing activities as the business SME
- Provide expertise for product to support sales, marketing, industry inquiries, regulatory inquiries, workgroups, and industry events, as required
- Support and advise regarding analytical work, modeling and decision-making for product and pricing initiatives
- Communicate project progress, findings, risks, output and deployment plans
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
- Industry knowledge of the instant payment space and landscape
- Ability to effectively work remotely and across teams
It s 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
- Technical understanding of payment systems and the processors/cores that support the financial institutions
Logistics & Requirements
- May include remote working arrangements and some required travel, which will vary during project phases
The Federal ReserveSystem 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.