Product Manager, Senior Manager

Company

Federal Reserve Bank of Boston Federal Reserve Financial Services (FRFS) delivers a suite of payments services to financial institutions via Fed Line® Solutions, FedNowSM, Fedwire®, National Settlement Service (NSS), Fed Cash®, 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.

The Federal Reserve has developed a new interbank 24x7x365 real-time gross settlement (RTGS) service with integrated clearing functionality, called the Fed Now 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.

The position will be primarily on‑site with residency commutable to one of our offices required.

• The Product Strategy Senior Manager will have the opportunity to drive innovation and shape the future of payments in the US by helping to formulate a vision and strategy for future value‑add products and defining the customer and ecosystem value proposition.
• The Product Strategy Senior Manager will be a subject matter expert on features and functionality of payments broadly, and the Fed Now service specifically, and will be responsible for overseeing the analysis and strategy of a subset of current and future roadmap features.
• The Product Strategy Senior Manager will need to understand the instant payments ecosystem, key players, competitive landscape, and product strategy to make new feature recommendations for the Fed Now Service.
• The Product Strategy Senior Manager should be a thought leader and have an educated perspective on multiple payment‑adjacent topics, for example stable coins, tokenized deposits, cryptofinance, QR Codes, digital wallets, and/or agentic payments.
• This role will work closely with partners such as product delivery, credit risk, legal, risk, Board of Governors, marketing, program management, operations and technology to bring to market new capabilities and solution enhancements that are aligned with Federal Reserve objectives, industry needs, and business goals.
• The Product Strategy Senior Manager is a people leader with skills and a passion for delivering high‑quality products. You will manage and lead a team by continuously iterating ideas and defining our value proposition.

• As a Product Senior Manager, you’ll help bring Fed Now’s vision for instant payments to life: making us the method of choice for Financial Institutions, Billers, and Fintechs.
• Help drive product features from ideation to launch, collaborating with designers, engineers, and cross‑functional partners such as sales and legal.
• Evaluate product/market fit in new markets or verticals by analyzing customer pain points, alternatives, and willingness to pay.
• Develop a deep understanding of our users’ needs, operational landscape, and competitive environment across payments markets.
• Product Strategy and Discovery:
  Assist in development of a multi‑year Fed Now product roadmap to ensure our services truly meet customer needs, stay ahead of emerging trends, and deliver business value. Lead and oversee specific product discovery analysis by identifying a business case, assessing the risks, and delivering a recommendation. Identify the business impact of solutions to inform decision making and prioritization.
• Team culture and collaboration:
  Be an active contributor to the team’s collaborative and inclusive culture. Ensure clear and transparent communication with team members and partners.

• Strategic thinking:
  Establish the vision, overseeing analysis of customer trends,…