Senior Innovation Product Manager

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Multiple locations
Posted on Monday, September 18, 2023


Federal Reserve Bank of RichmondThe Richmond Fed is the proud home of the Federal Reserve’s National IT organization—a nationwide team delivering technology solutions and support across the Federal Reserve System. Many National IT employees are located in Richmond, while others are based across the U.S. at other Federal locations.

When you join our team, you’ll become part of a culture that welcomes differences, cares about our communities, and empowers each other to lead from where we are to make things better.

Bring your passion and we’ll provide challenging and purposeful careers in a variety of fields, opportunities to grow and a wide range of benefits and perks that support your health and wealth. It’s all part of what makes #MyRichmondFed a great place to work!

About the Opportunity:

Do you get excited about solving complex problems? Are you an early adopter of the latest tech and always looking for ways to use technology to improve your daily life? Do you get energized by affecting change across an organization and shipping products that deliver value? The Federal Reserve’s System Innovation Office is looking for a Product Manager who answers yes to those questions!

The Federal Reserve’s System Innovation Office is a trusted strategic partner, working with both business and tech partners to find innovative ways to deliver value. We ship business and technology products with quality, enhance the productivity of our employees through digital ways of working, and allow rich data-driven insights. We are looking for a Product Manager who brings strategy, innovation, and product lifecycle expertise. You will report to the VP of System Innovation in a hybrid remote posture.

What You Will Do:

  • Provide guidance and advanced-level matrixed leadership.

  • Establish strategic product roadmaps and long-term vision that support goals and deliver value to customers.

  • Articulates core value proposition of the solution, identifying individual feature benefits to support value proposition fulfillment. Represent product value proposition and business viability to inform and influences senior-level support for fulfilling product vision.

  • Foster relationships with important partners and anticipates stakeholder and team needs to manage development process. Maintain clear understanding of the customer, their needs and effect of the product to their business.

  • Ensure delivery of quality product(s) and demonstrate advanced expertise in market problems addressed by assigned product set, representing the voice of the customer from product vision through product roadmap.

  • Responsible for the creative process of generating, developing, and curating new ideas.

  • Work with teams through the product lifecycle, including launch through retirement.

  • Execute product leadership responsibilities to identify potential cost-saving opportunities, resolve resource constraints, and support business activities through ensuring goals and client needs are met.

  • Manage product budget and leads development of funding and pricing strategies processes, including the business case develop for investment in product creation and launch.


  • Knowledge: Experience with principles in functional area, including Product Management disciplines and Agile methodologies. Advanced ability to translate our needs into value the product should deliver. General knowledge of department/ services, Reserve Banks, or System operations, procedures, and technologies.

  • Communications: Excellent communicator that exhibits creativity, experience with compliance, and collaboration to interpret results, develop communications and recommend improvements. Able to present information within all settings in a credible and influential manner. Communicate in a concise, direct, and purposeful way. Experience working with anticipated audiences in a service-oriented manner.

  • Risk Management: Responsible for understanding and applying risk management discipline in decision-making and contributing to your function's risk management.

  • Decision-making: Works independently on broad assignments or under general directions as to scope or goals. Makes decisions within established or widely accepted standards. Achieve assigned/planned results by actions based on professional methods, training, business principles, and practical experience.

  • Bachelor's Degree or equivalent experience/Master's Degree may be preferred with 10+ years of relevant work experience.

  • Experience with Agile methodologies required.

  • Product Manager certification preferred.

Other Requirements and Considerations:

  • Candidates should review the Bank’s Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions. · If you need assistance or an accommodation due to a disability, please notify rich.recruitment@rich.frb.org.

  • Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to, requirements to vaccinate or test, mask, social distance, etc.).

  • Sponsorship is not available for this role. The selected candidate will be subject to a government security investigation and must meet eligibility requirements for access to classified information. Eligibility for this specific position requires U.S. Citizenship or three or more years of Permanent Resident (Green Card) status.

  • The national hiring range for the Senior Innovation Product Manager is $126,300-$173,690 annually. For candidates in certain markets (Boston, MA; Chicago, IL; Los Angeles, CA; New York City Metro Area, Philadelphia, PA; San Francisco, CA; Seattle, WA), the listed hiring and salary ranges may be adjusted based on your geographic location.

  • Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications/experience.

  • Applications are reviewed on a rolling basis. Interested candidates are strongly encouraged to apply by September 25, 2023.



Full Time / Part Time

Full time

Regular / Temporary


Job Exempt (Yes / No)


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.

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