FedNow Senior Industry Readiness Analyst

Company
Federal Reserve Bank of Boston
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. While open to location and remote work, residence near a Federal Reserve facility is preferred.
Position Contributions -
The Industry Readiness Analyst is responsible for supporting the Industry Readiness function for the FedNow service to ensure industry readiness when the service goes live and beyond. The Analyst will support engagement with various industry members including banks, service providers, and vendors to facilitate FedNow adoption and evolution, operational and technical preparedness and develop the ecosystem for the service.
What will be expected of you: -

• Become a subject matter expert on the functionality and operation of the system and educate internal and external users
• Work directly with banks, aggregators, and vendors to promote readiness, adoption and usage
• Provide onboarding assistance to develop a high degree of operational readiness across assigned customers
• Document any actions or considerations impacting product development requirements and roadmap, and design of customer-facing processes resulting from bank discussions
• Perform analytical work in support of modeling and decision-making for industry readiness and product initiatives
• Support project management and internal/external communication initiatives
• Perform other duties as assigned

Expertise you would bring -

• Banking and payments experience, especially knowledge of faster/instant payments, ACH, FedWire or CHIPS payments processing and formats, and clearing and settlement is strongly preferred
• Expertise in ISO20022 message standards, work flow management, payment fraud monitoring, customer/industry directories, or data warehouse design is a plus
• Proven experience working with industry partners on product or service implementations
• 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
• Ability to effectively work remotely and across teams
• Bachelor's degree and at least 2 years in financial services or analytics
• 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 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

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
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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