Company

Federal Reserve Bank of Boston

This is a 3rd shift role (12am – 9am), Wednesday through Sunday.

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 Federal Reserve has developed a new interbank 24x7x365 real-time gross settlement (RTGS) service with integrated clearing functionality, called the FedNow Service. This service enables financial institutions to 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 this mission-critical Federal Reserve initiative that is transforming the payments landscape in the United States.

This is a 3rd shift role (12am – 9am), Wednesday through Sunday. While working on 3rd shift, flexibility may be allowed if approved by the local district. Residency commutable to one of our offices is required.

The FNOC Sr. Analyst will perform critical operational activities including monitoring, working with partner stakeholder teams to mitigate risks, support participant onboarding, and execute ongoing operational tasks for the FedNow Service. Heavy emphasis will be focused on identifying opportunities to improve operational efficiency via process standardization and automation. Provide expert guidance and technical support to clients and internal teams on all FedNow-related issues. The Senior Analyst will demonstrate their subject matter expertise by acting as an escalation point to our Level 1 customer support team while fulfilling customer requests.

What will be expected of you –

• Develop deep expertise of the FedNow Service & stay up to date on all the latest releases and development
• Interview, develop, train, mentor and provide performance feedback for Analysts 
• Laser focus on a world class, end-to-end customer experience
• Facilitate high pressure troubleshooting calls for Production issues
• Need to be able to articulate complex technical concepts in a clear and accessible manner
• Fulfill all Service Requests escalated from Level 1 (L1) support
• Develop and maintain comprehensive documentation for knowledge and procedures
• Collaborate with cross-functional teams to assess functional needs, identify vulnerabilities, and recommend appropriate solutions
• Develop knowledge documentation, conduct training, and brainstorm automation ideas to support improving the customer experience via Shift Left of work to L1
• Flexibility to support a growing organization through multiple roles
• Monitor customer success metrics and KPIs
• Support the customer through FedNow functionality updates
• Support the customer onboarding process for new FedNow customers
• Independently identifying gaps and proactively creating solutions

Expertise you would bring –

• Bachelor’s degree with 5+ years relevant work experience; or 10+ years relevant work experience
• Experience working within 24*7 support operations for a large enterprise
• Ability to work in a demanding environment and handle multiple competing priorities
• Strong analytical and problem-solving skills with demonstrated ability to quickly gather, analyze and synthesize information
• Initiative and innovation toward improving customer experience 
• Organized and detail-oriented with a love for creating order out of chaos
• Motivated, energetic, adaptable with Intellectual curiosity paired with a high growth-mindset

Additional responsibilities -

• Provide feedback in the hiring process of new team members
• Provide performance feedback for team members 
• Perform daily backend operational activities for billing, accounting and reconciliation
• Work on frequent internal risk and compliance inquiries for internal audits
• Perform verifications, onboarding and maintenance of participant profiles
• Execute internal backend tasks for bank mergers and account closures related to the FedNow service
• Consult on and perform reviews for publicly available Federal Reserve documentation
• Adopt a continuous improvement mindset by identifying and providing feedback on efficiency opportunities

It's added value if you have-

• Familiarity with ISO20022 messages
• ITIL certification

Experience:

• Bachelor's Degree or 4 years equivalent experience; bachelor’s degree preferred

Education:

• Bachelor’s degree with 5+ years relevant work experience; or 10+ years relevant work experience

Compensation:

The salary range for this position is $90,900 - $113,600 - $136,300. The Boston Fed believes in salary transparency. The final salary and offer will be determined by the applicant’s background, skills, internal equity, and alignment with market data. Whether you’re developing into the job or are a more seasoned candidate, we aim to pay competitively. If you reside outside of the 1st District, you may be hired by your local Federal Reserve District and compensation will follow hiring District's range and policy.

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 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

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Operations Family Group

Work Shift

Third (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.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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