Product Manager

262203 Requisition #


Product Manager

FedLine – Customer Relations and Support Office


The Customer Relations and Support Office(CRSO) manages the nation-wide electronic payments and information delivery network (“FedLine”), which transacts over 70+ million payments daily, valued at more than $4+ trillion.  We are seeking a Product Manager to join our team that develops new products for the FedLine Access Solutions portfolio that generates over $88M in annual revenue for Federal Reserve Financial Services and provides access solutions for 10,000+ financial institution customers.

Job Summary

The FedLine Product Manager helps develop strategic, multi-year product strategy and revenue plans for FedLine Solutions.  Follows the product development management process, including product proposal development, business case justifications, and investment plans. 


The Product Manager is responsible for the product planning and execution throughout the product lifecycle. This includes gathering and prioritizing product and customer requirements, setting the product vision, and working closely with design, development, sales, marketing and customer support to ensure that revenue and customer satisfaction goals are met. The Product Manager must also ensure that the product’s strategy supports the overall strategy and goals of Federal Reserve Financial Services. 


The Product Manager works with development teams leveraging a scaled agile methodology for product management.  This role provides business, technical, analytical, and marketing support to the Customer Relations and Support Office and Federal Reserve System clients and supports the development and implementation of new products and services.


Principal Duties and Responsibilities

  • Identifies and develops new FedLine services and manages FedLine product portfolio (includes UX strategy for services) through their life cycle. Drafts product vision and business requirements

  • Conducts regular customer sensing to gain input into product development

  • Helps manage new business development with other business lines

  • Participates and represents FedLine/CRSO in various System level groups to support product efforts 

  • Partners with Marketing to ensure FedLine marketing and demand generation programs (teleseminars, webinars, campaigns, product launches) are in place to support product and revenue goals

  • Gains insights into the banking industry and electronic access environment through various resources (Sales, Industry forums, Conferences, Primary & Secondary Research) and provides it to other areas within the department to further the business strategy  

  • Manages and helps achieve FedLine revenue targets. Oversees ongoing revenue management activities, including revenue trends and forecasts for products and services 

  • Develops customer models for profitability, loyalty, likelihood to purchase and product satisfaction

  • Tracks customer, product, segment and campaign performance to ensure profitability and revenue targets are met


Education and Experience

  • Bachelor’s degree or equivalent experience as noted below (MBA Preferred)

  • Eight or more years of direct work related experience in Product Management, Product Owner, Product Development, Solution Architect, Business Analyst

  • Coursework in Business, Management Information Systems, or closely related disciplines

  • Experience in the creation of more than one product from inception to release with meaningful results measured in terms of customers, revenue or market share

  • Experience managing integration solutions such as API Management a plus

Knowledge and Skills
  • Understanding of the payments business, customers and the Federal Reserve Bank’s product suites and customer base

  • Ability to establish strategy, associated tactical plans and implementation of those plans 

  • Leverages strong business knowledge and considers external factors (changing business and environmental factors) and future business and stakeholder needs when developing strategy

  • Advocate for the voice of the customer, capable of translating market trends, requirements and competitive dynamics into product offerings, fostering healthy debate and ambitious thinking within a team environment to arrive at a suitable solution

  • Demonstrated ability to multi-task and to manage multiple projects or work efforts simultaneously

  • Strong project management, communication, and consultative skills and experience

  • Strong interpersonal and oral and written communication skills

  • Excellent analytical and critical thinking abilities

  • Knowledge of new product development processes and product management practices, experience in Agile Methodologies, Software Product Development Lifecycle, MS Office, preferred

Other Requirements
  • Applicants must be currently authorized to work in the United States without the need for visa sponsorship now or in the future.

  • This position has additional screening requirements due to the information accessed while performing the job. These additional screenings would be initiated at the time of offer acceptance and can take approximately two months to be completed. The screening covers areas such as education/employment verification, criminal history, credit history, and reaches out to your references and people that know you well.

  • As a condition of employment, Federal Reserve Bank of Chicago employees must comply with the Bank’s ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities, and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting, who can provide you contact information for our ethics official if necessary.


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