Federal Reserve Bank FedNow Business Integration Specialist in Boston, Massachusetts
/FedNow Business Integration Specialist/ / /
FedNow 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.
Position Overview The Business Integration Specialist reports to the Business Integration Director and will be responsible for performing duties that entail interactions with other business lines that require changes to supporting applications (Board H.4.1, SCRM applications, (CMS, ARC, ABS real-time, ABS ex-post), FSO (EASy, AMI), CRSO: Compass, Reserves: RC-RAA, and others that may be uncovered as we look at tertiary impacts and beyond). The analyst will also review and/or provide input to procedures, policies, customer facing documents, ensuring operational readiness to support the FedNow implementation.
Key Responsibilities • Coordinate, plan, and execute interactions with other business lines that require changes to supporting applications impacting FedNow • Analyze, document, and validate business requirements, ensuring any interim steps can easily transition to longer-term solutions in the future • Coordinate updates to Guides/Policies/Procedures with other business lines, ensuring production readiness • Execute internal communication plans, ensuring that supporting applications are fully engaged with changes needed to support FedNow implementation • Work with FedNow Communication Team, ensuring a coordinated effort takes into account changes to supporting applications that impact external customers • Works closely through implementation with the FedNow Technical and Product teams, supporting Business Integration requirements to ensure interfaces with business partners are developed and tested successfully. • On an ongoing basis, assesses the implications of business and operational decisions on the integration requirements, adjusts as necessary, and communicates with all affected parties. • Working with FedNow Technical, Product, and Program Management teams, as well as and other business lines, plan and manage ongoing interface testing throughout the ecosystem from development through production implementation; includes testing between FedNow core application and other business partners’ systems, as well as between various other business partners’ systems.
Knowledge, Skills and Experience Required • MBA preferred and at least 5 years in Accounting, Credit Risk Management, and/or payments • Experience with management of System-level projects required Detailed-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 • Strong analytical and problem-solving skills with demonstrated ability to quickly gather, analyze and synthesize information • Excellent communication skills with ability to express ideas in a clear, concise, and compelling manner; as well as ability to tailor communications for different audiences • Detailed-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 • Ability to effectively work remotely and across teams
* * Other Considerations • May include remote working arrangements and some required travel, which will vary during project phases.
/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./
Organization: *Federal Reserve Bank of Boston
Title: FedNow Business Integration Specialist
Requisition ID: 264378