FedNow Pay ISO 20022, Assistant Vice President-265107
Federal Reserve Bank of Boston
Primary Location MA-Boston
Other Locations NY-New York City
Full-time / Part-time Full-time
Employee Status Regular
Overtime Status Exempt
Job Type Experienced
Travel Yes, 25 % of the Time
Shift Day Job
Job Sensitivity Tier II CC@Hire/No CC@Rescreen
ISO 20022 Payments Specialist - Assistant Vice President
The Federal Reserve is developing a new interbank 24x7x365 real-time gross settlement (RTGS) service with integrated clearing functionality, called the FedNow service. 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 ISO SME will be the resident ISO 20022 subject matter expert within the FedNow organization. The ISO SME will collaborate with product teams to write FedNow message specifications and ensure the industry is correctly interpreting the published specifications to ensure industry readiness. The SME will provide onboarding assistance and training.
What will be expected of you –
- Resident ISO 20022 subject matter expert
- Guide the product teams in writing message specifications and ensure consistency across different product workflows
- Ensure banks, vendors, and aggregators are correctly interpreting published specifications, provide onboarding assistance, and facilitate industry readiness via various training engagements
Expertise you would bring –
- Banking and payments experience, especially knowledge of ACH, FEDWIRE or CHIPS payments processing and formats, and clearing and settlement is strongly preferred
- Strong knowledge of ISO 20022 Payments format
- Proven track record of industry relations and prior experience preferred
- Ability to effectively work remotely and across teams
It’s added value if you have –
- Strong analytical and problem-solving skills with demonstrated ability to quickly gather, analyze and synthesize information
- Strong written and verbal communication skills, with ability to express ideas in a clear, concise and compelling manner and tailor communications for different audiences
- Detail-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 highly desired
- Ability to work independently in a remote team environment and to proactively identify product opportunities that arise related to business trends and market developments
- Strong project management skills to include organization, planning, and execution with the ability to manage various tasks simultaneously and work under tight deadlines with conflicting priorities, while providing high quality products
Logistics & Requirements –
- Federal Reserve System candidates - will remain employed at current Federal Reserve Bank, but report into the FedNow team via cross-district arrangement
- May include remote working arrangements and some required travel, which will vary during project plans
The Federal Reserve Bank of Boston 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.
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.