What are the responsibilities and job description for the FedNow Product Owner position at Federal Reserve Bank of Cleveland?
Job Details
Company
Federal Reserve Bank of Boston
Federal Reserve Financial Services (FRFS) delivers a suite of payments services to financial institutions via FedLine Solutions, FedNow , Fedwire , National Settlement Service (NSS), FedCash , FedACH (Automated Clearing House), and Check Services. We are currently leading a strategic effort to transform FRFS to a national, enterprise-focused organization. Through our evolved structure, we will meet the needs of the marketplace for new products and services more quickly, seek to provide a more robust and unified customer experience across our financial service offerings, and create new career growth opportunities for FRFS staff.
The Federal Reserve has developed a new interbank 24x7x365 real-time gross settlement (RTGS) platform with integrated clearing functionality, called the FedNow Service. This service enables 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 this mission-critical Federal Reserve initiative that is transforming the payments landscape in the United States. This is a unique trailblazing opportunity to boost your career and join a talented and driven team committed to excellence and the positive transformation of our payments landscape. This role will be part of the FedNow Product Business Development team, with the opportunity for growth, upward mobility, and a fulfilling career.
Candidates that live near one of our Reserve Bank locations will be provided some work from home flexibility. Rules for hybrid work arrangements differs from Bank to Bank and should be discussed during the interview process.
Position Contributions-
Are you passionate about bringing vision to life and building great products? Is your ideal work environment a place where you can collaborate across teams and with stakeholders across the organization while managing your product backlog? If so, we have the job for you! As someone that lives at the intersection of development, design, and business, while constantly anchoring on the needs of customers and providing the highest quality product, you will collaborate with technologists, business experts, and other stakeholders to bring new FedNow functionality to market.
What will be expected of you-
Support product requirements and feature roadmaps from concept through delivery
Gather, analyze and translate business needs into actionable, clearly defined feature acceptance criteria and user stories
Prioritize user stories aligned with program increment objectives and priorities, as well as product management's overall vision and strategy for the product
Solve product related problems, make decisions, complete trade-off analysis to manage scope creep, and stay on track toward business deliverable commitments
Continuously refine backlog to ensure features and user stories have detailed and accurate acceptance criteria and are 'ready' for development to start
Serve as a subject matter expert and primary contact for your assigned domain, and also maintain a breadth of higher level expertise regarding the FedNow service
Surface and track cross-functional dependencies and schedules to reassess priorities and manage releases
Continuously communicate and collaborate with Product Manager on prioritization, refinement, and problem solving
Attend, lead and/or participate in agile team ceremonies in the role of Product Owner (e.g., iteration and increment planning, stand up's, refinement, iteration review, retrospective, release planning)
Prioritize defect resolution and manage the backlog to address product quality issues
Approve or reject user stories to ensure product quality
Provide and/or assist team with iteration and feature demos for stakeholders
Collaborate with cross-functional teams (strategy, business integration, industry engagement, technology, operations, etc.) throughout the lifecycle of the product strategy and delivery processes
Communicate and report product-related issues and status updates in a timely manner to various levels of stakeholders such as SMEs and executive leadership, as needed
Work closely with Scrum Master to keep pulse on team morale and iteration progress so that team is functioning at peak performance
Perform other duties as assigned or requested
Expertise you would bring-
Experience with the SAFe Agile methodology
Experience working as a Product Owner (minimum 3 years; certification preferred)
Experience working with payments systems (preferred)
Experience managing both business and technology features and stories (preferred)
Experience working with agile software tools such as Octane (preferred) or Jira
Experience working with geographically dispersed agile development teams
Experience working with cross-functional teams to deliver on a common goal
Eagerness to contribute to a team-oriented environment with active listening and strong interpersonal skills
Demonstrable problem-solving, resourcefulness, creativity and a willingness to bring fresh ideas
Effective verbal and written communications skills, including presentation capabilities
Strong organizational skills and ability to manage multiple priorities and/or projects in a fast-paced, environment
Self-starter who is curious-minded and comfortable asking questions
Strong time-management and project management skills
Ability to manage multiple assignments in parallel, including analytical assignments with strong attention to detail in addition to day-to-day product owner responsibilities
Comfortable working in a fast-paced environment
Microsoft Office (Excel, PowerPoint, Word, Outlook, Teams, etc.)
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.
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.
As a condition of employment, all Federal Reserve Bank of Boston employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning financial interests - such as stocks or bonds - from banks, savings associations, and systemically important financial institutions or their affiliates, such as bank holding companies or savings and loan holding companies. If you, your spouse or domestic partner, or your minor child own such assets and would be unwilling or unable to divest them if you were to accept a job offer, you should raise this issue with our recruitment team. Applicants should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
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.
Always verify and apply to jobs on Federal Reserve System Careers ( ) or through verified Federal Reserve Bank social media channels.
Privacy Notice
Federal Reserve Bank of Boston
Federal Reserve Financial Services (FRFS) delivers a suite of payments services to financial institutions via FedLine Solutions, FedNow , Fedwire , National Settlement Service (NSS), FedCash , FedACH (Automated Clearing House), and Check Services. We are currently leading a strategic effort to transform FRFS to a national, enterprise-focused organization. Through our evolved structure, we will meet the needs of the marketplace for new products and services more quickly, seek to provide a more robust and unified customer experience across our financial service offerings, and create new career growth opportunities for FRFS staff.
The Federal Reserve has developed a new interbank 24x7x365 real-time gross settlement (RTGS) platform with integrated clearing functionality, called the FedNow Service. This service enables 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 this mission-critical Federal Reserve initiative that is transforming the payments landscape in the United States. This is a unique trailblazing opportunity to boost your career and join a talented and driven team committed to excellence and the positive transformation of our payments landscape. This role will be part of the FedNow Product Business Development team, with the opportunity for growth, upward mobility, and a fulfilling career.
Candidates that live near one of our Reserve Bank locations will be provided some work from home flexibility. Rules for hybrid work arrangements differs from Bank to Bank and should be discussed during the interview process.
Position Contributions-
Are you passionate about bringing vision to life and building great products? Is your ideal work environment a place where you can collaborate across teams and with stakeholders across the organization while managing your product backlog? If so, we have the job for you! As someone that lives at the intersection of development, design, and business, while constantly anchoring on the needs of customers and providing the highest quality product, you will collaborate with technologists, business experts, and other stakeholders to bring new FedNow functionality to market.
What will be expected of you-
Support product requirements and feature roadmaps from concept through delivery
Gather, analyze and translate business needs into actionable, clearly defined feature acceptance criteria and user stories
Prioritize user stories aligned with program increment objectives and priorities, as well as product management's overall vision and strategy for the product
Solve product related problems, make decisions, complete trade-off analysis to manage scope creep, and stay on track toward business deliverable commitments
Continuously refine backlog to ensure features and user stories have detailed and accurate acceptance criteria and are 'ready' for development to start
Serve as a subject matter expert and primary contact for your assigned domain, and also maintain a breadth of higher level expertise regarding the FedNow service
Surface and track cross-functional dependencies and schedules to reassess priorities and manage releases
Continuously communicate and collaborate with Product Manager on prioritization, refinement, and problem solving
Attend, lead and/or participate in agile team ceremonies in the role of Product Owner (e.g., iteration and increment planning, stand up's, refinement, iteration review, retrospective, release planning)
Prioritize defect resolution and manage the backlog to address product quality issues
Approve or reject user stories to ensure product quality
Provide and/or assist team with iteration and feature demos for stakeholders
Collaborate with cross-functional teams (strategy, business integration, industry engagement, technology, operations, etc.) throughout the lifecycle of the product strategy and delivery processes
Communicate and report product-related issues and status updates in a timely manner to various levels of stakeholders such as SMEs and executive leadership, as needed
Work closely with Scrum Master to keep pulse on team morale and iteration progress so that team is functioning at peak performance
Perform other duties as assigned or requested
Expertise you would bring-
Experience with the SAFe Agile methodology
Experience working as a Product Owner (minimum 3 years; certification preferred)
Experience working with payments systems (preferred)
Experience managing both business and technology features and stories (preferred)
Experience working with agile software tools such as Octane (preferred) or Jira
Experience working with geographically dispersed agile development teams
Experience working with cross-functional teams to deliver on a common goal
Eagerness to contribute to a team-oriented environment with active listening and strong interpersonal skills
Demonstrable problem-solving, resourcefulness, creativity and a willingness to bring fresh ideas
Effective verbal and written communications skills, including presentation capabilities
Strong organizational skills and ability to manage multiple priorities and/or projects in a fast-paced, environment
Self-starter who is curious-minded and comfortable asking questions
Strong time-management and project management skills
Ability to manage multiple assignments in parallel, including analytical assignments with strong attention to detail in addition to day-to-day product owner responsibilities
Comfortable working in a fast-paced environment
Microsoft Office (Excel, PowerPoint, Word, Outlook, Teams, etc.)
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.
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.
As a condition of employment, all Federal Reserve Bank of Boston employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning financial interests - such as stocks or bonds - from banks, savings associations, and systemically important financial institutions or their affiliates, such as bank holding companies or savings and loan holding companies. If you, your spouse or domestic partner, or your minor child own such assets and would be unwilling or unable to divest them if you were to accept a job offer, you should raise this issue with our recruitment team. Applicants should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
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.
Always verify and apply to jobs on Federal Reserve System Careers ( ) or through verified Federal Reserve Bank social media channels.
Privacy Notice
Employers have access to artificial intelligence language tools (“AI”) that help generate and enhance job descriptions and AI may have been used to create this description. The position description has been reviewed for accuracy and Dice believes it to correctly reflect the job opportunity.
