Federal Reserve System

Compensation

Full Description

Company Federal Reserve Bank of Chicago The FRFS enterprise has an exciting opportunity to be a part of the FRFS leadership team as the Chief of Product and Relationship Management. In this role, the selected individual will report directly to the Chief Payments Executive and will be an integral part of the FRFS team establishing and executing the strategic goals for operating the U.S. payment systems that serve 9,000+ financial instructions, the U.S. Treasury, and touches nearly every U.S. household, tens of millions of businesses, and facilitates liquidity movement for both national and international financial markets. The Chief of Product and Relationship Management’s broad responsibilities include product and pricing, customer experience, data strategy, customer and industry engagement, marketing, market research and payments system improvement. We seek an executive leader to set vision and strategy, live our values, model our culture and drive accountability. To achieve our vision of being a high-performing organization with a culture that attracts and retains top talent, we expect our leaders to be curious and agile, champion a work environment that is inclusive and open to new ideas, biased to action, and mindful of customer experience in all that we do. Federal Reserve Financial Services (FRFS) delivers a suite of payments services to financial institutions via FedLine® Solutions, Fedwire® Funds and Securities, the National Settlement Service (NSS), FedCash®, FedACH®, Check Services, and the FedNow® Service. FRFS operates as a fully integrated organization with groups dedicated to customer experience, operations, technology, product and customer/industry management, enterprise services, payments system improvement, and one focused on the ongoing growth and development of the FedNow instant payment service. Our strategy defines our future direction, seeking to offer a fully integrated product suite that provides speed, resilience, and choice in meeting the payments needs of FRFS customers across the United States. Through our Enterprise structure, we strive to meet the needs of the marketplace for new products and services with speed and agility, seek to provide a robust and unified customer experience, and work to create career growth opportunities for FRFS staff. The FRFS Enterprise operates with a customer-first mindset, comprised of team members seeking to do the best work of their careers in pursuit of our important central bank mission. The role of Chief of Product and Relationship Management Create a vision and strategy for FRFS customer experience and industry engagement, creating alignment across product lines to bring a consistent “voice” to FRFS external outreach. Develop a near- and long-term product roadmap representing all technology, operations and product development. Lead FRFS’ Payments System Improvement to advance payment speed, security, efficiency, and cross border leader-catalyst strategies through industry collaboration. Lead the Federal Reserve’s relationship management team ensuring a cohesive, high quality and integrated customer experience and trusted relationships with customers, leading to meeting their payments needs and generating revenue. Drive all strategic planning for FRFS marketing and industry engagement, leveraging innovative and thoughtful marketing communications, brand management, market research, executive engagement and industry outreach to build customer revenue generating pipeline and inform product and pricing development. Lead the product management and pricing functions for the full, integrated portfolio of products to include data management across FRFS. Partner with the FedNow team to ensure product and pricing plans will integrate seamlessly and logically. Lead the external FRFS communication strategy to provide timely, transparent, and clear communications to customers and industry partners. Oversee development and delivery of communications, ensuring that effective messages are timely, delivered to the right audience, in the right channel, and in a consistent and engaging format. Manage the FRFS organizational brand identity and usage guidelines to ensure contemporary, standard and consistent use. Partner closely with the FRFS internal communications function to ensure alignment with external communications and provide expert, timely employee communications counsel and support toward the achievement of FRFS objectives. Work collaboratively with the FRFS senior leadership team to set investment priorities in alignment with future strategy, including tough decisions on efforts to de-prioritize. Partner with FRFS leaders to define metrics, monitor performance, and make data-driven decisions through dashboards and ad hoc analysis to create improvement in outcomes. Directly lead, inspire, and mentor a highly matrixed and nationwide team. Build goodwill and respect for the FRFS among diverse external constituencies and stakeholders. Build relationships and partner with colleagues at the Board of Governors and throughout the System in a collaborative manner. Represent FRFS on System committees and workgroups. Serve as a unifying force by promoting cross- functional collaboration, while also providing a disruptive influence and clear articulation of the case for change from the status quo. Demonstrate a strong sense of ownership and sense of urgency. Your Background Experience and strong interest in payment systems is highly preferred Track record of successful leadership to drive results and proactively manage change in a highly matrixed and virtual team, with the ability to develop strategies and initiatives that continually improve the FRFS. Demonstrated ability for strong execution and accountability for the results. Proficiency in rethinking business models or established practices Excellent change management skills, including advocating, anticipating, and orchestrating change. Create a team culture that enables staff to achieve results in a changing environment. Strong business acumen with ability to be a hands-on, visible, goal-oriented, and independent- minded leader who will constructively challenge the FRFS leadership team and bring leading-edge thinking to effectively guide change within the FRFS Strong collaboration and listening skills and an interest in building trust at all levels of the organization, with an ability to partner effectively with others in the pursuit of common goals Strong champion of building a diverse and inclusive work environment Ability to lead with a System-centered, strategic, action-oriented mindset focused on performance and accountability Outstanding people manager and role model and demonstrated interest in serving as an active talent champion, coach, and mentor Intellectually curious and agile, with demonstrated ability to experiment and lead innovation Minimum qualifications Bachelor’s degree in business administration, Strategic Planning, Communications, or similar field of study, or equivalent work experience; MBA or similar post-graduate degree desired Typically has 15+ years of business management experience including extensive experience leading major projects/initiatives in large, complex organizations; requires 15+ years of progressive people and business leadership experience Experience in Federal Reserve Financial Services is strongly preferred Location The selected candidate will reside within a reasonable commuting distance of the employing Reserve Bank Head Office and will work full-time onsite that meets the minimum number of onsite days required by the employing District. Reasonable commuting distance is defined as living within 50 miles a Reserve Bank location. The following Reserve Bank locations are preferred due to the concentration of FRFS team members in these locations: Atlanta, Boston, Chicago, Kansas City, Minneapolis, New York, Richmond, and San Francisco. Travel ·Necessary travel of 60-75%. Additional Requirements Applicants must be currently authorized to work in the United States without the need for visa sponsorship now or in the future. This position has additional screening requirements due to the information accessed while performing the job. These additional screenings would be initiated at the time of offer acceptance and can take approximately two months to be completed. The screening covers areas such as education/employment verification, criminal history, credit history, and reaches out to your references and people that know you well. As a condition of employment, Federal Reserve Bank of Chicago employees must comply with the Bank’s ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting, who can provide you contact information for our ethics official if necessary. The expected starting salary range for this position in Chicago is between $390,500 and $459,600 annually in addition to potential annual performance-based discretionary bonuses. Final salary and offer will be determined based on the employing Bank and the applicant’s relevant experience, skills, internal equity, and alignment with geographic and other market data. Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender, gender identity or expression, or veteran status. Full Time / Part Time Full time Regular / Temporary Regular Job Exempt (Yes / No) Yes Job Category Executive Family Group Work Shift First (United States of America) 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 (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels. Privacy Notice OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government. OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward. Why Our People Choose Us: Our reputation precedes us There will always be room for personal growth Our people are first You’ll find the right balance Your responsibilities will be meaningful We hope that you will be our future colleague. Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels. Please check back later for more information on available job opportunities.