Federal Reserve Bank FedNow Onboarding Strategy Manager, Payment Processors in Boston, Massachusetts
/*FedNow Onboarding Strategy Manager, Payment Processors */
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 Onboarding Strategy Manager is responsible for helping define and execute a scalable onboarding strategy, with clearly defined processes and operations which will enable thousands of financial institutions to benefit from a next-generation payment platform. This strategy will include approaches for offering an efficient, seamless and best in class onboarding process to both payment processors and aggregators so they can onboard their customers on a large scale, and to financial institutions across the country that connect directly to the FedNow service.
Through direct engagement with financial institutions, service providers, and vendors the onboarding strategy manager will facilitate FedNow adoption, help shape the evolution of the service, and ensure clients are ready from an operational and technical preparedness standpoint to integrate, test and go-live with the service – while delivering a superior customer experience. Success will also be dependent on internal collaboration across multi-functional teams including Product, Operations, Business Integration, Technology, Sales and Industry Relations.
The ideal candidate will have deep experience in understanding business payment workflows across the value chain of payment processors and Financial Institutions – especially as it relates to instant payments. The candidate will work closely with the processors and will gain a strong understanding of the end-to-end product management life cycle for the FedNow Service, serve as a subject matter expert on features and functionality as well as the detailed process flows for customer certification and readiness. The onboarding strategy manager will support the Industry Readiness Lead to ensure industry readiness when the service goes live and beyond.
What will be expected:
- Develop subject matter expertise by contributing to business requirements and product roadmap development to ultimately serve as an internal and external subject matter expert on functionality and use cases – with a focus on integration, onboarding and enablement of the service.
- Work directly with financial institutions, payment service providers, aggregators, and vendors to promote adoption and usage.
- Provide onboarding assistance to clients and develop a high degree of operational readiness across assigned customers including the facilitation of critical requirements in a timely manner.
- Engage with onboarding vendor/s and the systems integrator to ensure successful implementation of service.
- Document any potential product development or operational support requirements resulting from client discussions and actively contribute to product development roadmap and ongoing support processes.
- Work collaboratively with cross-functional teams to develop solutions that enable a superior end-to-end customer experience.
- Work collaboratively with cross-functional teams to deliver on critical requirements to enable customer certification and ensure a superior end-to-end customer experience.
- May have lead responsibilities for more junior associates.
Expertise you will bring:
Knowledge and experience with payment processors
Experience in end-to-end onboarding journey design and product implementation.
Track record for successful delivery and implementation across large-scale payment initiatives.
Result-oriented, critical thinker with experience in complex problem solving.
Excellent communication skills, ability to collaborate across teams and work remotely effectively.
Banking and payments experience, especially knowledge of faster/instant payments and clearing and settlement is strongly preferred.
- Expertise in ISO20022 message standards, workflow management, payment fraud monitoring, customer/industry directories desired.
- Proven experience working with industry partners on product or process implementations.
- Experience with developing and executing pilot programs preferred,
It's added value if you have:
MBA preferred and at least 5 years in financial services, payments, or technology.
Understanding of the payments ecosystem and payments flows by stakeholder (financial institutions, payment service providers, core service providers, etc.).
- 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 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
Logistics & Requirements
- May include remote working arrangements and some required travel, which will vary during project phases.
/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./
Organization: *Federal Reserve Bank of Boston
Title: *FedNow Onboarding Strategy Manager, Payment Processors *
Requisition ID: 265923