Financial Services Product Owner

1 week ago

Richmond, Virginia, United States Federal Reserve System Full time

Company:

Federal Reserve Bank of Atlanta. Federal Reserve Financial Services (FRFS) provides a comprehensive range of payment solutions to financial institutions through FedLine Solutions, Fedwire, National Settlement Service (NSS), FedCash, FedACH (Automated Clearing House), Check Services, and the FedNow Service. In 2020, we initiated a strategic transformation of FRFS, evolving from a product and support office framework to a national, enterprise-focused organization. This new structure integrates previous retail, wholesale, cash, and customer relations product and support offices, further enhanced by the FedNow team. Our guiding strategy is to deliver a fully integrated suite of products that ensures speed, resilience, and choice for financial institutions across the United States. Through this evolution, we aim to swiftly address marketplace needs for innovative products and services, enhance the customer experience across our offerings, and create new career advancement opportunities for FRFS staff.

We are in search of leaders who can establish the vision, strategy, values, and priorities that empower FRFS to fulfill its mission. Our leaders should exhibit a strategic, action-oriented mindset, emphasizing intellectual curiosity, agility, accountability, and the capacity to foster innovation through experimentation. To realize our vision of a people-centric organization with a strong collaborative and innovative culture, we expect our leaders to advocate for an inclusive environment and embody our values in their interactions with colleagues and the broader community.

We appreciate the diversity of our workforce, ideas, and experiences and are dedicated to cultivating an inclusive culture that reflects the communities we serve.

We operate in a dynamic hybrid workplace that necessitates at least two days a week in the office.

As a Federal Reserve System National Business Line, it is customary to post FRFS positions across all twelve Districts to ensure transparency and equitable opportunities for all FRS employees to apply. Internal candidates selected for this position will retain their employment with their current District while serving as employees of FRFS. The new job title and corresponding pay range for the selected candidate will be determined by the employing District and will continue to adhere to the District's personnel policies and practices (including remote/hybrid work arrangements).

Position Summary:

The Product Owner (PO) will be aligned with the Fedwire Funds business line, supporting Product Management, and will be a member of the technology solution delivery teams. Product Owners convert business requirements into a prioritized set of specifications by conducting business process analysis, needs assessments, and preliminary cost/benefit analyses to align with a robust information technology roadmap. They manage and prioritize the team's backlog and lead their Agile team in delivering the most critical customer and stakeholder outcomes. Product Owners may also prepare functional, system, and program specifications and assist in system implementations, as well as participate in system initiatives and/or workgroups. A successful candidate will possess leadership experience in complex organizations and a track record of delivering well-supported solutions.

Key Responsibilities:

The Product Owner must:

  • Continuously gain insights into customer needs and the product's contribution to their desired outcomes.
  • Collaborate with the Lead Product Owner and Product Management to communicate and reinforce the vision, goals, and product roadmap in the form of features/stories with the Agile team.
  • Possess sufficient business and technical knowledge about the product to engage in team discussions.
  • Work closely with architecture, engineering, and quality assurance to ensure the right customer problem is addressed.
  • Engage with both technical and business stakeholders to gather requirements and translate them into technical specifications when necessary.
  • Break down and prioritize epics/features into user stories and define detailed acceptance criteria for testing.
  • Ensure that technology-driven and risk-remediation requirements are prioritized to prevent the accumulation of technical debt and vulnerabilities.
  • Support the team as a subject matter expert representing the business and clarify any questions that arise from the Agile team.
  • Assist in application development with enabler stories.
  • Determine if the work completed for a story meets success criteria and accept it when satisfied.
  • Help analyze defects and enhancements to assess severity, priority, and overall validity.
  • Contribute to discussions on risks, dependencies, issues, and schedule updates as needed.
  • Ensure consensus on actions to address dependencies between broader FRFS teams.
  • Present working software to stakeholders during team and system demonstrations.
  • Prepare innovative product proposals and messaging for product forums; present to governance forums at the Group level.
  • Utilize data and feedback to make informed decisions and continuously enhance the product.
  • Actively monitor product-specific OKRs and manage targets with stakeholders.
  • Contribute to the elaboration and advancement of the roles and responsibilities for this position, identifying process improvements and sharing insights with peers.
  • Actively promote Agile practices within business, technology, and across FRFS.

Education: Bachelor's degree in computer science, information technology, or a related technical field, or equivalent work experience.

Experience: Several years of relevant experience. Background in the financial services industry, with an understanding of domestic and cross-border payment systems and settlement services for critical payment systems, including credit risk mitigations and interdependencies with other payment services.

Qualifications:

  • Certified Scrum Product Owner (CSPO) or SAFe Product Owner, preferably at an Advanced level, is highly desirable.
  • Recent experience with JIRA is highly desirable.

Individual Competencies:

  • Ability to bridge the business/IT divide to establish rapport and gain understanding.
  • Strong understanding of business requirement development and analysis, including use cases, functional specifications, and user interface specifications.
  • Effective problem solver with the ability to identify challenges, brainstorm ideas, and collaborate with cross-functional teams to implement effective solutions.
  • Ability to work independently with minimal oversight and manage multiple deliverables simultaneously; take ownership of issue resolution and completion of high-quality deliverables.
  • Strong teamwork, leadership, critical thinking, multitasking, and time management skills in a highly matrixed organization.
  • Ability to develop deep subject matter expertise for specific products and their broader ecosystem to effectively drive enhancements, support internal stakeholders, and influence broader decision-making.
  • Ability to understand and resolve blockers and delivery risks quickly and without escalation outside their product scope.
  • Ability to understand competing priorities across technology and business areas, clearly articulate options, and use personal influence to define resolutions across their product set and areas with payment interdependencies.
  • Excellent written and verbal communication skills, with the ability to articulate ideas clearly to both technical and non-technical audiences.

Our total rewards program offers benefits that are tailored to fit your needs at every stage of your career:

  • Comprehensive healthcare options (Medical, Dental, and Vision)
  • 401K match and a fully funded pension plan
  • Paid vacation and holidays, flexible work environment
  • Generously subsidized public transportation
  • Annual tuition reimbursement
  • Professional development programs, training, and conferences
  • And more...

Employment Type: Full time

Job Status: Regular

Job Exempt: Yes

Job Category: Not specified

Work Shift: First (United States of America)

Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank channels.

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