FedNow Program Manager, Assistant Vice President

267335 Requisition #
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FedNow Program Manager,  Assistant Vice President



The future of payments is FedNowSM The Federal Reserve Banks are developing a new interbank 24x7x365 real-time gross settlement (RTGS) service with integrated clearing functionality. This service will be the first new business line for the Fed in 40 years and will be transformative for United States Payments by enabling nationwide access across more than 10,000 Banks. The new service will help enable financial institutions to deliver end-to-end faster payment services to their customers. With the FedNow network, banks will be able to provide their customers the ability to send and receive payments any time, any day, and have full access to those funds within seconds.  Such a service will also enable the ongoing innovation of payments products offered by Banks, non-Banks and FinTech companies.


Position Overview–

As Program Manager for the workstreams focused on designing direct and ancillary alias-based payments functionality for FedNow, individual would be responsible for working collaboratively with the Product Manager and Program Execution Lead to develop and successfully execute the program plan. Engages with other Program Managers to identify critical dependencies, risk, and issues that traverse the FedNow program.   Responsible for leading and managing a team of project managers who are responsible for managing the execution of various work streams under this individual’s span of control.  Responsible for staff development and performance management. Works collaboratively across the FedNow and shared services organizations to develop and foster relationships with key program stakeholders, is responsive to evolving needs, and is able to communicate effectively across all levels of the organization.


What will be expected of you –

  • Managing, coordinating, and ensuring collaboration within a team and across needed teams for the workstream and defined scope of work
  • Engaging with applicable stakeholders to ensure achievement of Business Value objectives through effective scope management, work prioritization, sequencing, addressing impediments and cross-impacts, and resource identification and allocation
  • Identifying, managing, and communicating risks, issues, dependencies for the workstream
  • Developing and managing robust status reporting for the workstream
  • Developing and maintaining accurate program artifacts (schedules, risk register, RACI, resource estimations, change management and issue management documentation)
  • Providing guidance and maintaining alignment with Bank, System, and industry policies and standards
  • Partnering with technology stakeholders to ensure that environments and teams are adequately scoped, planned, and established
  • Understanding the dependencies and application limitations of selected technology, inherent risks, and mitigation actions
  • Supporting and guiding the team(s) in continually (incrementally) improving their standards, while they deliver.
  • Identifying, communicating, and managing the technical dependencies on identified applications


Expertise you would bring –

  • 10+ years’ experience in effectively delivering large, complex programs from start to finish
  • Proven leader managing projects with effective communication skills to a broad audience 
  • Preferred (but not required): Background in banking, payment systems (P2P and alias-based payment systems specifically), and private sector clearing and settlement arrangements
  • Comfortable facilitating and leading discussions with large groups
  • Proven ability to develop staff and build high performing teams
  • Experience using agile methodology to deliver projects
  • Up to 50% travel may be required
  • Ability to effectively work remotely and across teams



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, citizenship status verification, and personal interviews with the candidate, references, and prior employers.

All candidates must be U.S. citizens or lawful permanent resident aliens with at least three or more years of U.S. residency from the date of legal entry to the U.S


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