The FRFS enterprise has an exciting opportunity to be a part of the new FRFS Enterprise Services function as Senior Vice President and Strategy/Finance/Data/Portfolio Management Officer. In this role, the selected individual will report directly to the FRFS Chief of Enterprise Services and will be an integral part of the team leading FRFS into the future. In partnership with the FRFS Enterprise Services leadership team, this officer will spearhead the development and execution of the FRFS strategic planning process, financial planning, development of an enterprise data strategy and oversight of the enterprise portfolio management function. This role will require developing strong partnerships across the FRFS leadership to deliver across these responsibilities. This is an entirely new position, with the expectation that the selected individual will play a significant part in creating their role and team.
We value the diversity of our people, ideas, and experiences and are committed to building an inclusive culture that is representative of the communities we serve.
Federal Reserve Financial Services (FRFS) delivers a suite of payments services to financial institutions via FedLine® Solutions, Fedwire®, National Settlement Service (NSS), FedCash®, FedACH®, and Check Services. We are currently leading a strategic effort to transform FRFS to a national, enterprise-focused organization. Over time, FRFS will offer an increasingly integrated set of Federal Reserve payment services, incorporating the FedNowSM Service upon its market entry in 2023. Through our evolved structure, we will meet the needs of the marketplace for new products and services more quickly, we will seek to provide a more robust and unified customer experience across our financial service offerings, and we will 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.
A requirement of this position is that the employee must be fully vaccinated against COVID-19 or qualify for an accommodation from the Bank’s vaccination policy. To provide for the health and safety of its employees and support the Bank’s mission to the greatest extent possible, the Bank decided to adopt this requirement after careful review of public health information, workforce data, employee feedback, and the Federal Reserve System’s pandemic recovery plans. The Bank requires all employees to be vaccinated fully against COVID-19 as a condition of employment.
Your role as Strategy/Finance/Data/Portfolio Management Officer
Contribute to the vision, strategy, values, and priorities that help the FRFS enterprise achieve its mission, as a member of the FRFS Enterprise Services leadership team.
Develop and lead the FRFS’ strategic-planning process to paint the “big picture,” focusing on long-term trends and desired outcomes, future outlooks, and competitive and environmental intelligence.
Facilitate the execution of the strategy and ensure that appropriate metrics are in place to measure performance, financial impact of decisions, and progress towards strategic goals.
Provide strategic leadership of FRFS financials, budgeting, multi-year forecasting and overall financial management, related controls, and reporting. Develop, in strong partnership with the product revenue team, strategies for forecasting long-term revenue and cost strategies. Maintain accountability for long-term cost recovery forecasting for FRFS.
Develop and govern a comprehensive data strategy and implementation roadmap to ensure that data and analytics capabilities are aligned with FRFS’ mission, strategy, and objectives and create a culture within FRFS that values data and leverages data to influence strategic decision making across the enterprise.
Establish an enterprise-wide data governance model to systematically organize and maintain data quality. Define roles and responsibilities related to data governance to manage the protection of sensitive data and information assets.
Collaborate with leaders across the FRFS to provide consultative support through financial analysis. Leverage data, analytics, and contemporary technology tools (e.g., Workday ERP) to create new ways to visualize and present numbers (e.g., dashboards, portfolios, and benchmarks) to drive FRFS strategic decision-making and delivery.
Collaborate with the technology team to design platforms to support the enterprise data strategy, including designing and implementing data collection and data quality improvement projects.
Develop and oversee a portfolio management program to support and influence the strategic plan implementation and allow for scenario modeling of portfolio investment based on changing dynamics in the course of execution, identifying areas of opportunity, risk, and issues. Frame strategic questions as well as key choices and tradeoffs.
Provide routine prioritization, monitoring and reporting to FRFS senior leadership for all projects and initiatives, ensuring that appropriate controls are in place for successful execution of and reporting on projects of varying size, scope, and importance.
Create and lead the FRFS Quarterly Business Review process.
Work collaboratively with senior leaders throughout the Federal Reserve System, including the Federal Reserve System CIO, Reserve Bank CFOs, and the Board of Governors, to support investment strategies and prioritization, as well as develop and implement relevant cost and financial accounting processes and data strategies.
Represent FRFS on System level groups and engage in industry conferences and other internal and external engagements related to strategic planning, finance, data and portfolio management practices, as applicable.
What we are looking for
Track record of successful leadership to drive results, and proactively manage change in a highly matrixed and virtual team, with the ability to develop strategies and initiatives that continually improve the FRFS. Demonstrated ability for strong execution and accountability for the results.
Demonstrated strategic planning and execution, including identifying and assessing relevant policy implications.
Consistent drive to maintain a deep knowledge of industry trends to influence the direction of FRFS data strategy.
Track record of assessing risk and establishing a risk tolerance, balancing business needs and priorities against the risk of material loss.
Excellent change management skills, including advocating, anticipating, and orchestrating change.
Strong business acumen with ability to be a hands-on, visible, goal-oriented, and independent-minded leader who will constructively challenge the FRFS leadership team and bring leading-edge thinking to effectively guide change within the FRFS.
Strong collaboration skills and an interest in building trust at all levels of the organization, with an ability to partner effectively with others in the pursuit of common goals.
Experience serving as a champion of building a diverse and inclusive work environment.
Intellectually curious and agile, with demonstrated ability to experiment and lead innovation.
Qualifications
Bachelor’s Degree in business administration, economics, finance or similar field of study, or equivalent work experience; MBA or similar post-graduate degree preferred
Advanced knowledge of finance, accounting, budgeting, and cost control principles
Significant experience designing, leading, and implementing data management programs preferred
15+ years of progressive business leadership experience, including portfolio management and strategic planning experience
When business travel commences safely, up to 20-25% domestically
The Federal Reserve Bank offers benefits that are the best fit for you at every stage of your career:
Comprehensive healthcare options (Medical, Dental, and Vision)
401K match, and a fully funded pension plan
With additional benefits offered that are unique to each Federal Reserve Bank district
This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change (e.g. emergencies, rush jobs, change in workload or technological developments).
The Federal Reserve Bank is an equal opportunity employer.
This does not include responsibilities for District Cash Operations.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
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.
