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Federal Reserve Bank FedNow Data Architect in Boston, Massachusetts


The Federal Reserve is developing a new interbank 24x7x365 real-time gross settlement (RTGS) service with integrated clearing functionality, called the FedNowSMservice. 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 Contributions-

The Data Architect is responsible for working with the FedNow architects, business system owners, and stakeholders to define the data architecture and standards for the FedNow service, which includes key decisions around storing, archiving, protecting, and analyzing FedNow data in new ways. You’ll collaborate with security, architecture, and compliance teams who own different aspects of the FedNowSMservice, to establish a cohesive, scalable, resilient data architecture. FedNow is both a consumer and provider for internal and external systems, so the Data Architect will build an understanding of the data flowing through the system, the metadata and metrics that are important, and the optimal mechanisms to store, manage, and utilize that data securely and safely. You’ll own the identification and establishment of the data strategy needed to support opportunities to leverage AI and ML.

What will be expected of you- * Defines data architecture standards, policies and procedures for the FedNow Service, consistent with system-wide Fed Standards and industry cloud patterns. * Identifies the Cloud services, designs and platforms that will drive the FedNow data architecture. * Designs data architectures for operational databases, data stores, data-marts and data warehouses needed to support FedNow. * Designs a big data and analytics architecture to optimize the utility and impact of FedNow data and metadata. * Develops enterprise strategy for data quality, archiving, recovery, load design and implementation, security, and change management. * Ensures that the data architecture supports the needs and emergent opportunities of forward-looking technology such as AI and ML. * Ensures information assets are identified, managed and leveraged across the product. * Collaborates with database analyst/administrators and data engineers on the physical database implementation. * Develops data models based on business rules. * Identifies information flows and transforms business requirements into logical data models. * Identifies opportunities to increase data reuse and utilization across the System. * Design controls and monitoring mechanisms to ensure data integrity, consistency, quality, security, efficient data integration between information systems, and within the FedNow architecture. * Partner with security and legal to ensure that privacy is built into our data strategy from Day 1. * Manages data throughout its' lifecycle including creation, maintenance, deletion, backup, recovery, and performance. * Collaborates with database administrators and application development teams on the physical database implementation. * Collaborates with business users to identify needs and opportunities for improved data management and delivery including end-user training and adoption. * Architect data solutions that are in alignment with FRS strategic technology roadmap and industry trends. * As .a key SME in the technical architecture team, will contribute broadly to the FedNow platform architecture, designs, and standards.

Expertise you will bring- / /

  • Knowledge and experience normally acquired through, or equivalent to, the completion of a Master's degree or a minimum of 10 years of job-related experience.
  • You’ll be a strong collaborator, able to engage effectively with other teams, business and technical experts.
  • You’ll have deep experience with Cloud technology, and cloud-based data architectures.
  • Experience building high volume, high availability, highly resilient systems available 24/7/365, managing data synchronization across regions and environments.
  • You’ll understand ETL, data archiving, management and retention.
  • Experience implementing big data and analytics solutions. Ideally, you’ll also have experience with AI/ML and other data powered capabilities.
  • Position requires demonstrated understanding of application and data principles and methods, significant architecture experience with mission-critical systems, and success with planning, designing, developing, and operating large-scale technology solutions.
  • Federal Reserve business knowledge, preferably with Accounting, Credit Risk Management, Reserves, and/or Payments
  • 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

Logistics & Requirements-

  • Travel within U.S. required – 25% of time
    • * /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/

Organization: *Federal Reserve Bank of Boston

Title: FedNow Data Architect

Location: MA-Boston

Requisition ID: 264796

Other Locations: WA-Seattle, IL-Chicago, TX-Dallas, VA-Richmond, NY-New York City