Federal Reserve Bank of Chicago
Chief of Product and Relationship Management and Executive Vice President
Federal Reserve Bank of Chicago, Chicago, Illinois, United States, 60290
Chief of Product and Relationship Management and Executive Vice President
Join to apply for the
Chief of Product and Relationship Management and Executive Vice President
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Federal Reserve Bank of Chicago Overview
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®, 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. Responsibilities
Create a vision and strategy for FRFS customer experience and industry engagement. Develop a near‑ and long‑term product roadmap representing all technology, operations and product development. Lead FRFS’ Payments System Improvement to advance payment speed,, efficiency, and cross border leader‑catalyst strategies through industry collaboration. Lead the Federal Reserve’s relationship management team ensuring a cohesive, high quality and integrated customer experience and trusted relationships with customers. Drive all strategic planning for FRFS marketing and industry engagement, leveraging innovative marketing communications, brand management, market research, executive engagement and industry outreach. Lead the product management and pricing functions for the full, integrated portfolio of products to include data management across FRFS, partnering with the FedNow team. Lead the external FRFS communication strategy, managing development and delivery of communications. Manage the FRFS organizational brand identity and usage guidelines. Partner closely with the FRFS internal communications function for alignment. Work collaboratively with the FRFS senior leadership team to set investment priorities. Partner with FRFS leaders to define metrics, monitor performance, and make data‑driven decisions. Directly lead, inspire, and mentor a highly matrixed and nationwide team. Build goodwill and respect for the FRFS among diverse external constituencies and stakeholders. Serve as a unifying force by promoting cross‑functional collaboration and providing a disruptive influence. Demonstrate a strong sense of ownership and sense of urgency. Your Background
Experience and strong interest in payment systems is highly preferred. Track record of successful leadership to drive results and proactively manage change in a highly matrixed and virtual team. Proficiency in rethinking business models or established practices. Excellent change management skills, building a team culture that enables staff to achieve results in a changing environment. Strong business acumen with ability to be a hands‑on, visible, goal‑oriented, and independent‑minded leader. Strong collaboration and listening skills and an interest in building trust at all levels of the organization. Strong champion of building a diverse and inclusive work environment. Ability to lead with a System‑centered, strategic, action‑oriented mindset focused on performance and accountability. Outstanding people manager and role model, demonstrating interest in serving as an active talent champion, coach, and mentor. Intellectually curious and agile, with demonstrated ability to experiment and lead innovation. Minimum Qualifications
Bachelor’s degree in business administration, strategic planning, communications, or similar field of study, or equivalent work experience; MBA or similar post‑graduate degree desired. Typically has 15+ years of business management experience including extensive experience leading major projects/initiatives in large, complex organizations; requires 15+ years of progressive people and business leadership experience. Experience in Federal Reserve Financial Services is strongly preferred. Location
The selected candidate will reside within a reasonable commuting distance of the employing Reserve Bank Head Office and will work full‑time onsite that meets the minimum number of onsite days required by the employing District. Reasonable commuting distance is defined as living within 50 miles of a Reserve Bank location. The following Reserve Bank locations are preferred due to the concentration of FRFS team members: Atlanta, Boston, Chicago, Kansas City, Minneapolis, New York, Richmond, and San Francisco. Travel
Necessary travel of 60‑75%. Additional 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. The expected starting salary range for this position in Chicago is between $390,500 and $459,600 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. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender, gender identity or expression, or veteran status. Seniority level
Executive Employment type
Full‑time Job function
Business Development and Sales Industries
Banking, Capital Markets, and Financial Services Job Exempt (Yes / No)
Yes Job Category
Executive 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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Join to apply for the
Chief of Product and Relationship Management and Executive Vice President
role at
Federal Reserve Bank of Chicago Overview
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®, 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. Responsibilities
Create a vision and strategy for FRFS customer experience and industry engagement. Develop a near‑ and long‑term product roadmap representing all technology, operations and product development. Lead FRFS’ Payments System Improvement to advance payment speed,, efficiency, and cross border leader‑catalyst strategies through industry collaboration. Lead the Federal Reserve’s relationship management team ensuring a cohesive, high quality and integrated customer experience and trusted relationships with customers. Drive all strategic planning for FRFS marketing and industry engagement, leveraging innovative marketing communications, brand management, market research, executive engagement and industry outreach. Lead the product management and pricing functions for the full, integrated portfolio of products to include data management across FRFS, partnering with the FedNow team. Lead the external FRFS communication strategy, managing development and delivery of communications. Manage the FRFS organizational brand identity and usage guidelines. Partner closely with the FRFS internal communications function for alignment. Work collaboratively with the FRFS senior leadership team to set investment priorities. Partner with FRFS leaders to define metrics, monitor performance, and make data‑driven decisions. Directly lead, inspire, and mentor a highly matrixed and nationwide team. Build goodwill and respect for the FRFS among diverse external constituencies and stakeholders. Serve as a unifying force by promoting cross‑functional collaboration and providing a disruptive influence. Demonstrate a strong sense of ownership and sense of urgency. Your Background
Experience and strong interest in payment systems is highly preferred. Track record of successful leadership to drive results and proactively manage change in a highly matrixed and virtual team. Proficiency in rethinking business models or established practices. Excellent change management skills, building a team culture that enables staff to achieve results in a changing environment. Strong business acumen with ability to be a hands‑on, visible, goal‑oriented, and independent‑minded leader. Strong collaboration and listening skills and an interest in building trust at all levels of the organization. Strong champion of building a diverse and inclusive work environment. Ability to lead with a System‑centered, strategic, action‑oriented mindset focused on performance and accountability. Outstanding people manager and role model, demonstrating interest in serving as an active talent champion, coach, and mentor. Intellectually curious and agile, with demonstrated ability to experiment and lead innovation. Minimum Qualifications
Bachelor’s degree in business administration, strategic planning, communications, or similar field of study, or equivalent work experience; MBA or similar post‑graduate degree desired. Typically has 15+ years of business management experience including extensive experience leading major projects/initiatives in large, complex organizations; requires 15+ years of progressive people and business leadership experience. Experience in Federal Reserve Financial Services is strongly preferred. Location
The selected candidate will reside within a reasonable commuting distance of the employing Reserve Bank Head Office and will work full‑time onsite that meets the minimum number of onsite days required by the employing District. Reasonable commuting distance is defined as living within 50 miles of a Reserve Bank location. The following Reserve Bank locations are preferred due to the concentration of FRFS team members: Atlanta, Boston, Chicago, Kansas City, Minneapolis, New York, Richmond, and San Francisco. Travel
Necessary travel of 60‑75%. Additional 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. The expected starting salary range for this position in Chicago is between $390,500 and $459,600 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. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender, gender identity or expression, or veteran status. Seniority level
Executive Employment type
Full‑time Job function
Business Development and Sales Industries
Banking, Capital Markets, and Financial Services Job Exempt (Yes / No)
Yes Job Category
Executive 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.
#J-18808-Ljbffr