Director, Payments System Improvement - Federal Reserve Bank (FRB)

Company

Federal Reserve Bank of Boston

Federal Reserve Financial Services (FRFS) delivers a suite of payments services to financial institutions via FedLine® Solutions, FedNowSM, Fedwire®, National Settlement Service (NSS), FedCash®, FedACH® (Automated Clearing House), and Check Services. We are currently leading a strategic effort to transform FRFS to a national, enterprise-focused organization. Through our evolved structure, we will meet the needs of the marketplace for new products and services more quickly, seek to provide a more robust and unified customer experience across our financial service offerings, and create new career growth opportunities for FRFS staff.

We are seeking leaders to set the vision, strategy, values, and priorities that enable FRFS to achieve its mission. Our leaders must demonstrate a strategic, action-oriented mindset focused on intellectual curiosity, agility, accountability, and the ability to drive innovation through experimentation. To achieve our vision for a people-focused organization with a strong collaborative and innovative culture, we expect our leaders to champion an inclusive environment and demonstrate our values in how we work and interact with each other and our broader community.

Payments System Improvement’s vision is to deliver a contemporary and trusted payment system that works for everyone and to facilitate material, end-to-end advances in the U.S. payment system that promote integrity, efficiency, and accessibility. 

The Payments Improvement Director is a valued member of the team dedicated to the advancement of payment improvement focusing on issues affecting the payment systems as they relate to fraud and safer payments.  This position is responsible for supporting critical Bank strategic objectives to ensure that the payment system evolves with safety, accessibility, and efficiency. 

Principal Accountabilities:
 

• Provide fraud and security subject matter expertise to identify internal and external impacts of potential initiatives, as well as offer solutions and recommendations to issues to best ensure initiative success.
• Establish relationships with business units and/or technology offices within financial institutions, trade associations, advocacy groups, and non-profits to foster dialogue on fraud and security issues and opportunities.

• Conduct primary and secondary industry analysis and research on payments fraud issues and trends, interpreting market conditions, analyzing the competitive landscape, identifying potential opportunities, trends, new technologies, risks and barriers.
• Analyze public and proprietary information to prepare external and internal presentations, position papers and briefings on trends, risks, and regulatory issues.
• Collaborate/network with payments industry stakeholders (banking, payments, mobile carriers, vendors, processors, etc.) to understand and address barriers and other issues related to implementation of payments in the US and risks from fraud perspective.
• Meet with internal and external stakeholders to articulate issues, obtain and summarize feedback, draw insights and conclusions, develop analysis and proposals, and present findings.
• Lead projects that provides the payments industry, the Federal Reserve System (FRS) and the Federal Reserve Financial Services (FRFS) with balanced, in-depth research and analysis of market trends, and issues as they relate to fraud and security.
• Partner with the Payments System Improvement leadership team and staff, to ensure security strategy and tactics are appropriately integrated with the other elements of the payments improvement initiatives.
• Provide updates on progress, risks, and challenges to various governance groups.

Other Accountabilities:
Performs other duties as assigned.

Knowledge and Experience:

• Bachelor or Master`s degree or an equivalent combination of education and/or technical training
• 7+ years of related fraud policy/detection/prevention experience. 
• Experience working in Financial Services preferred.
• Knowledge of the U.S. payment system and infrastructure, including credit/debit processing, ACH, Wire, and faster payments
• Knowledge of security, identity management, and authentication solutions
• Strong technical aptitude in systems that support the payments ecosystem and fraud detection, prevention, and mitigation as it relates to payments.
• Familiarity with current and emerging technologies and trends within the evolving payments landscape
• Excellent verbal and written communication, presentation skills and meeting facilitation skills, including formal presentation skills for executive audiences.
• Strong leadership with demonstrated ability to challenge and influence others.
• Ability to work effectively with limited supervision while demonstrating proficient organizational skills; sound business judgment; and flexibility.
• Possess strong people and program leadership skills including strong verbal and interpersonal communication skills.
• Capability to build strong relationships with a variety of stakeholders and proven history of strong cooperation and compromise with key business partners.
• Effective analytical and problem-solving skills, including the ability to understand and explain information.
• Experience working and leading in a complex, geographically diverse, and matrixed organization.
• Proven experience delivering results and implementing projects on time and budget.
• 10-20% domestic travel

While open to location and remote work, residency in First District or near a Federal Reserve facility is preferred.

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 the satisfactory completion of a physical examination (including a drug screening), reference checks, and a background check investigation consisting of credit, criminal history checks, and prior employment checks.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Supervisory/Management

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. 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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