Senior Product Manager

Federal Reserve Bank of Chicago; Chicago (IL); On-site; USD 152,000 - 179,000; Full time

Job summary

Federal Reserve Bank of Chicago seeks a Senior Product Manager to define vision and strategy for a portfolio of financial services products. You will gather market intelligence, lead cross-functional teams, and translate concepts into new features that modernize offerings.

The role requires deep product-management expertise, strong stakeholder collaboration, and the ability to drive roadmaps from concept to launch in a complex payments environment.

Qualifications

• Bachelor’s degree or equivalent experience; MBA preferred.
• Ten or more years of relevant work experience.
• Expert knowledge of Product Management principles and practices.
• Understanding of technology and software applications.

Responsibilities

• Define the strategic vision for a product portfolio based on customer needs and industry trends.
• Identify opportunities for product enhancements based on research and feedback.
• Develop business cases and collateral to secure cross-group support.

Skills

Product Management principles

Cross-functional leadership

Strategic thinking

Excellent writing and communication

Education

Bachelor’s degree or equivalent experience

MBA preferred

Job description

Company

Federal Reserve Bank of Chicago

Federal Reserve Financial Services (FRFS) delivers a suite of payments services to financial institutions via FedLine® Solutions, Fedwire® Funds and Securities, the National Settlement Service (NSS), FedCash®1, FedACH®, Check Services, and the FedNow® Service. FRFS operates as a fully integrated organization with groups dedicated to customer experience, operations, technology, product and customer/industry management, enterprise services, payments system improvement, and one focused on the ongoing growth and development of the FedNow instant payment service. Our strategy defines our future direction, seeking to offer a fully integrated product suite that provides speed, resilience, and choice in meeting the payments needs of FRFS customers across the United States. Through our Enterprise structure, we strive to meet the needs of the marketplace for new products and services with speed and agility, seek to provide a robust and unified customer experience, and work to create career growth opportunities for FRFS staff.

The FRFS Enterprise operates with a customer-first mindset, comprised of team members seeking to do the best work of their careers in pursuit of our important central bank mission.

The Senior Product Manager is responsible for defining the product vision, strategy and roadmap for a portfolio of products. Gathers market research and intelligence and is the expert on the customer’s needs, wants and pain points. Conducts analysis in partnership with other subject-matter experts to develop business cases and leads teams to translate concepts into new products, features or functionality to modernize products and meet customer needs. The Senior Product Manager will advise cross-functional specialists on a range of activities to bring a product or feature to market. The level of work required is advanced and the incumbent operates with substantial latitude to take action or make decisions. This job has no direct reports but must influence a broad group of stakeholders.

Your Responsibilities

• Define the strategic vision for a product portfolio based on customer needs, industry trends and the competitive landscape
• Identify opportunities for product enhancements based on research, industry intelligence and customer feedback
• Develop business cases and other presentation collateral to gain support and ensure alignment across Federal Reserve System workgroups and governance bodies
• Collaborate with product managers to set product priorities and maintain the product roadmap; acts as the point of intake for product improvements from internal stakeholders
• Writes epics for development teams and operate in scaled agile (SAFe) methodology
• Partner with internal subject-matter-experts in sales, marketing, analytics, research, user-experience design, architecture, security, development and customer support to bring products and features to market
• Sets the strategic vision and priorities for the product roadmap and leads from concept to launch
• Responsible for the achievement of revenue targets in partnership with sales and marketing. Oversees ongoing revenue management activities, including revenue trends and forecasts for products and services

Your Background

• Bachelor’s degree or equivalent experience as noted below, MBA preferred
• Ten or more years of relevant work experience
• Expert knowledge of Product Management principles and practices obtained through education, experience or certification
• Demonstrates aptitude to understand and envision relevant technology and software applications
• Strong understanding of the Securities business, customers and the Federal Reserve Bank`s product suites
• Ability to lead product strategy and initiatives cross-functionally
• Independent thinking and decision-making abilities
• Excellent writing, communication, and consultative skills and experience

Location:

• The selected candidate will reside within a reasonable commuting distance defined by employing Reserve Bank and will work full-time onsite.
• Eligible Locations for Hire: Boston, MA- New York, NY- Philadelphia, PA- Cleveland, OH- Richmond, VA- Atlanta, GA- Chicago, IL- St. Louis, MO- Minneapolis, MN- Kansas City, MO- Dallas, TX- San Francisco, CA

Additional Information

• 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.

The expected starting salary range for this position in Chicago is between $151,700 and $179,400 annually in addition to potential annual performance-based discretionary bonuses. Final salary and offer will be determined based on the employing Bank and the applicant’s relevant experience, skills, internal equity, and alignment with geographic and other market data.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Project/Product Management Family Group

Work Shift

First (United States of America)

The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

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