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Federal Reserve Bank FSG Fedwire Securities Service Product Owner (Technology) in New York City, New York

Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies.You willwork in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It is a challenge that demands the skills of a financial service professional and the intelligence an academic—all combined with a passion for public service.

*What we do: *

The Wholesale Product Office (WPO) has oversight responsibilities for the Fedwire Funds, Fedwire Securities and National Settlement Service (NSS). In this oversight role the WPO sets the strategic direction for these services, coordinates projects impacting the services and their customers, and ensures that wholesale operating sites meet service level agreements for resiliency and performance.

The Fedwire Securities Service provides safekeeping, transfer, and delivery-versus-payment settlement services to U.S. depository institutions and U.S. branches and agencies of foreign banks. The Fedwire Securities Service maintains, in electronic form, all marketable U.S. Treasury securities, as well as many federal government agencies, government sponsored enterprise (GSE) and certain international organizations securities. The Fedwire Securities Service provides safekeeping, transfer, and delivery-versus-payment settlement services to U.S. depository institutions and U.S. branches and agencies of foreign banks. The Federal Reserve Banks in their capacity as fiscal agents facilitate the issuance of book-entry securities to the Fedwire Securities Service participants.

The Fedwire Securities Service processes securities transfers on an individual or gross basis in real time, and the transfer of the securities and the related funds (if any) is final and irrevocable when made. Although Fedwire Securities participants can send securities free of payment, most securities transfers involve the delivery of securities and the simultaneous exchange of payment for these securities, a process known as delivery versus-payment (DVP). The Wholesale Product Office manages the various projects to support this service.

The Product Owner for the Fedwire Securities service serves as representative for technology solutions, deeply engaging with executive leaders to translate the wants and needs of businesses into a prioritized set of projects and a robust technology roadmap. Product owners will be dedicated to a product or platform, serving on Agile squads to ensure technology products meet requirements and drive business value. Working with the business leads, they are responsible for setting the technology vision for the product or platform and managing the prioritization to deliver on that vision.

Your role as Product Owner:

A successful candidate will be a seasoned leader with experience operating in complex organizations, facilitating strategic planning activities, and delivering well supported solutions. The Product Owner must:

  • Provide leadership and senior-level oversight on strategic planning, technology demand and roadmap planning.
  • Independently represent the interests of their product/s to senior-level business and technology stakeholders inside and outside the Bank
  • Manage stakeholder communication and decision-making in line with governance requirements
  • Define product technology vision and help set priorities that introduce new products or materially impact the business area capabilities
  • Actively promote Agile behaviors within business areas to accelerate the transition to the new operating model
  • PO needs to immerse him or herself in the business product line and align his/her strategy as directed by the business line executives.
  • Define and communicate clear product technology vision and roadmaps with measurable outcomes, and work with internal strategic planning group to ensure integration to the Bank technology roadmap, drive alignment with product and customer interdependencies
  • Prepare and deliver product proposals and messaging for Bank-level governance forums
  • Leads innovative strategic thinking by identifying and presenting industry trends and opportunities to senior business and technology stakeholders
  • Work within EPC squad/s to deliver new or complex technology products. This includes definition of feature requirements, prioritization and sequencing, coordination of demos and user feedback sessions, and rollout management.
  • Lead scrum-of-scrums or coordination of delivery across multiple products.
  • Work with the business leads to design & integrate usability studies and research into technology requirements to enhance user satisfaction and ensure customer driven design including customers outside the Bank
  • Integrate usability studies and research into product technology requirements to enhance user satisfaction and ensure customer driven design
  • Work with EPC to respond to changing priorities and delivery requirements across multiple products or product areas
  • Actively define, monitor, and communicate product-specific operational KPIs once a product enters production, set and manage to targets by influencing technology support services and best practices
  • Actively promote full adoption of technology product features, provide training and onboarding support for new users, including external customers
  • Ensure technology-driven and risk-remediation requirements are prioritized to prevent the accumulation of technical debt and other vulnerabilities in Bank, customer, and industry platforms

What we are looking for:

  • Ability to understand highly complex and impactful needs of business leadership and users and create recommendations that fit within their product scope and across areas internal and external systems
  • Leadership experience, including leading and influencing in complex organizations, driving strategy, and delivering well-supported solutions.
  • In-depth understanding of the securities business and Central Securities Depository systems and their role in the broader economy
  • Ability to lead, motivate and empower people at all levels to deliver to their potential, while fostering a culture of collaboration, inclusivity and growth.
  • Ability to understand and resolve blockers and delivery risk quickly and without the need for escalation outside their product scope, and influence/resolve blockers in areas outside their product scope
  • Ability to understand competing priorities across technology and business areas, clearly articulate options, and use personal influence to define the resolution outside their product area at the Director and Deputy Function-Head
  • Excellent written and verbal communication skills, ability to articulate ideas clearly to technical and non-technical audiences at the various governance/oversight groups
  • Ability to work independently and manage multiple deliverables simultaneously; takes ownership of issue resolution and completion of deliverables
  • Mastery of the business area, affiliated external products, and the broader financial marketplace relative to custodial, transfer and settlement and delivery versus payment services.
  • Ability to understand and resolve blockers and delivery risk quickly and with occasional need for escalation outside their product scope
  • Certified Product Owner in Scrum, preferably Advanced level highly desirable, but if not certified, must be trained, and receive certification as soon as possible once hired


Our organization offers benefits that are the best fit for you at every stage of your career:

  • Fully paid Pension plan and 401k with Generous Match
  • Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)
  • Subsidized Public Transportation Program
  • Tuition Assistance Program
  • Onsite Fitness & Wellness Center
  • Flexible Work Arrangements
  • /And//more/ /Please note that the position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship and meet other eligibility requirements./ /In addition, all candidates must undergo an enhanced background check,//comply with all applicable information handling rules, and will be tested for all controlled substances prohibited by federal law, to include marijuana./

/The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service./

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.

Organization: *Federal Reserve Bank of New York

Title: FSG Fedwire Securities Service Product Owner (Technology)

Location: NY-New York City

Requisition ID: 267480