FedNow Alias-Based Payments Product Senior Specialist

Company
Federal Reserve Bank of Boston
FedNow Alias-Based Payments Product Senior Specialist
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.
A requirement of this position is that the employee must be fully-vaccinated (1 or 2 shot vaccination) and boosted or qualify for an accommodation from the Bank's vaccination policy; individuals who are unable to be vaccinated due to a medical condition or sincerely held religious belief may request an accommodation from the Bank.
The job is eligible for remote work anywhere in the United States.
The Senior Specialist level position is an experienced seasoned professional and possesses an in-depth knowledge of their respective role. Senior Specialist will often lead and drive larger portions of the program, will have a higher level of presence and accountability, and may take on assignments outside of their immediate expertise. The Senior Specialist is engaged with solutions, they anticipate roadblocks and drive innovation, and sometimes interact/present to Management Committee. The Senior Specialist will be expected to interface with those outside their current work stream and sometimes are engaged across all levels of the program.
Position Contributions -
The Product Senior Specialist will be a subject matter expert on features and functionality of the FedNow service and will be responsible for strategy and execution of a subset of features, use cases, and go-to-market activities. The Product Senior Specialist will need to understand the instant payments ecosystem, key players, competitive landscape, and product strategy to represent the product team and support marketing, sales, and industry readiness efforts.
• Imagine and design direct and ancillary functionality to facilitate Alias-Based Payments in support of multiple use cases (P2P initially, but think creatively), including a possible FedNow Directory
• Provide input into operating rules, policy, and best practices
• Act as a voice of the customer to identify, prioritize, and bring required functionality to market
• Provide input on technical designs and product roadmaps
• Work closely with technology, industry readiness, onboarding teams
• Explore various approaches to enabling Alias-Based Payments, including detailed network schema designs
• Develop and/or provide input into go-to-market strategies for Alias-Based Payments
• Interact with and lead ecosystem engagements with payment networks, directory providers, banks, processors, etc. (partnerships and business development)
• Identify potential partnerships, sequence, and execute
• Liaise with technical and operational support teams to develop necessary environment to support Alias-Based Payments (directory functionality, etc.)
• Foster an inclusive work environment
What will be expected of you-
• Become a subject matter expert on the FedNow service, Alias-Based Payments, Directories, Tokenization, and instant payments use cases
• Promote FedNow vision, including Alias-Based Payments
• Relationship building with ecosystem participants, including joint use case development
• Serve as the product senior specialist to support the end-to-end product management life cycle, including providing input into product road map and strategies, writing high level requirements, reviewing business design documents, drafting customer communications, and coordinating implementation activities
• Represent the FedNow product team in workstreams and activities related to sales, marketing, industry inquiries, regulatory inquiries, workgroups, and industry events
• Provide expertise for product to support sales, marketing, industry inquiries, regulatory inquiries, workgroups, and industry events, as required
Expertise you would bring-
• 5+ years of experience in banking, payments (ideally P2P, cross-border, Bill Pay, merchant), and/or fintech
• Direct or indirect experience offering an understanding of various considerations, complexities, and challenges of facilitating a two-sided network, platform, and/or instant payments scheme
• Deep understanding of (and ideally, an opinion on) payments industry trends and developments
• 5+ years of hands-on product management experience collaborating closely with cross-functional stakeholders; execution oriented, with an ability to effectively work remotely and across teams; evidence of having executed on and delivered products to market
• Experience managing external vendors and partners
• Product, strategy, or operations background, ideally with experience bringing new features or functionality to market
• Experience working in an Agile environment
• Storyteller, with strong written and oral communications, ability to express sometimes complex ideas in a clear, concise, and compelling manner, and tailor communications for different audiences
• Self-starter, proactive, intrinsically motivated, with a strong sense of ownership
• Strong analytical and problem-solving skills, with ability to quickly gather, analyze, and synthesize information, including the ability to translate between technical and business speak on the fly
• Comfortable with white space, and thrives in innovative environments
• Refined relationship management and collaboration skills, including the ability to build consensus
• Ability to manage competing priorities and work under tight deadlines while providing high quality results
Logistics & Requirements
• Ability to work independently in a remote team environment
• 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.
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.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Supervisory/Management
Work Shift
First (United States of America)
The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.
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