FedNow Product Owner at Federal Reserve Bank of Boston (Greater Boston Area, MA or Remote)
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.
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 end users and providing the highest quality product, you will collaborate with other development teams and their product owners to bring the FedNow solution 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 user stories
• Prioritize user stories aligned with product management's overall vision and strategy for the product, as well as with the proposed phases for testing and production release
• Solve product related problems, make decisions, complete trade-off analysis to manage scope creep and stay on track towards business deliverable commitments
• Refine backlog to ensure 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
• Surface and track cross-functional dependencies and schedule to reassess priorities and manage release
• Attend, lead and / or participate in agile ceremonies in the role of Product Owner (Release / Sub-Release Planning, Iteration Planning, Daily Stand Up's, Product Backlog Refinement, Iteration Review, Retrospective, Program Increment Planning, Program Increment Inspect & Adapt)
• Prioritize defect / bug 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 demos for stakeholders
• Collaborate with cross-functional teams (business integration, industry engagement, technology, and operations) throughout the lifecycle of the product
• Communicate and report product-related issues and status updates to various levels of stakeholders such as SME's and executive leadership as needed
• Work closely with Scrum Master to keep pulse on team morale and iteration performance so that team is functioning at peak performance
• Performs 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 working with agile software tools such as Octane (preferred), Jira, VersionOne, Trello
• Experience with a definition of minimum viable products
• Experience working in a virtual environment
• Experience working with geographically dispersed agile development teams
• Experience working with cross-functional teams to deliver on a common goal
• Ability to put a decision making framework around complex/unclear problems
• Strong collaboration, influencing skills, and verbal and written communication skills
• Comfortable working in a fast-paced environment
• Organizational and time management skills
• Attention to details
• Active listening
• Microsoft Office (Excel, Outlook, PowerPoint, Word, etc.)
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
Regular / Temporary
Job Exempt (Yes / No)
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.