Senior Industry Relations Representative Federal Reserve Bank of Chicago (Chicago, IL)

Quick Brief

• Position: Senior Industry Relations Representative
• Company: Federal Reserve Bank of Chicago
• 401k
• Dental Insurance
• Health Insurance
• On-site gym
• Opportunity for advancement
• Paid time off
• Prescription drug insurance
• Visa sponsorship
• Vision insurance
• Work from home

Full Job Description

Federal Reserve Financial Services (FRFS) provides a range of payment services to financial institutions through FedLine® Solutions, Fedwire®, National Settlement Service (NSS), FedCash®, FedACH®, and Check Services. We are currently transforming FRFS into a national, enterprise-focused organization. As part of this effort, FRFS will introduce an integrated set of Federal Reserve payment services, including the FedNowSM Service, which will launch in 2023. This transformation aims to enhance our ability to meet market needs, offer a unified customer experience, and create new career growth opportunities for FRFS staff.

We are looking for leaders to define the vision, strategy, values, and priorities necessary for FRFS to fulfill its mission. Ideal candidates will exhibit a strategic, action-oriented mindset, intellectual curiosity, agility, accountability, and the capacity to drive innovation through experimentation. To foster a collaborative and innovative culture, our leaders must promote an inclusive environment and embody our core values in all interactions.

Role Overview

As a Senior Industry Relations Representative, you will lead major programs focusing on external engagements and payment system improvement initiatives. This role supports strategic objectives to ensure the payment system’s evolution in terms of safety, accessibility, and efficiency. The position demands excellent coordination, and communication skills, a deep understanding of the financial services and payments industry, and the ability to work independently and strategically.

Responsibilities

• Conduct industry outreach to explore alternative payments, analyze the landscape, and identify potential opportunities, trends, new technologies, risks, and barriers.
• Develop complex project plans, manage reviews and approvals, and ensure deadlines are met.
• Collaborate with internal cross-functional partners (including marketing, strategic industry engagement, market intelligence, product, legal, and customer relations) to create and execute strategy and tactics.
• Network with payments industry stakeholders (banks, payment vendors, and processors) to address barriers and implementation issues in the US payment system.
• Stay informed on academic and industry literature and studies related to emerging payment trends and behaviors.

Qualifications

• Bachelor’s degree or equivalent experience.
• 5-8 years of experience in the financial services or payments industry.
• Experience in product management, project management, or program management.
• Proven ability to develop strategic outreach plans, particularly concerning emerging payment trends.

Skills and Knowledge

• In-depth knowledge of US payment systems and infrastructures, including legacy (ACH, card, wire) and emerging technologies (faster/instant payments, digital assets).
• Interest in researching and understanding new payment trends and their impacts.
• Strategic and creative problem-solving abilities.
• Attention to detail, results in high-quality and organized programs.
• Strong negotiation and influencing skills without direct authority.
• Excellent communication skills, both verbal and written, tailored to various stakeholders.
• High self-motivation and initiative; strong team player.
• Proficient in writing and editing, with the ability to synthesize complex topics.

Benefits

• Comprehensive benefits package, including medical, dental, vision, prescription drug coverage, 401k savings plan, retirement plan, paid time off, transit benefit, onsite gym, and subsidized cafeteria.
• Continuous learning environment with opportunities to gain new skills and advance your career.

Requirements

• Willingness to travel up to 10% of the time.
• Hybrid work arrangement for candidates near a Reserve Bank location, with specific rules varying by Bank.
• Access to confidential supervisory and FOMC information is restricted to “Protected Individuals” under U.S. federal immigration law. This includes U.S. citizens, U.S. nationals, and U.S. permanent residents on a path to naturalization.
• All candidates must undergo background checks and comply with information handling rules.
• Non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue citizenship.
• Compliance with the Bank’s ethics rules is required, including restrictions on owning securities of banks or their affiliates.

Employment Details

• Full-Time position.
• Regular employment status.
• Exempt from overtime.
• Category: Sales/Marketing.
• First Shift (United States of America).

The Federal Reserve Banks are committed to diversity and inclusion, providing equal employment opportunities regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender identity or expression, or veteran status. We strive to recruit, develop, and retain the most talented individuals from diverse backgrounds.