Product Owner - Markets Transformation

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

New York, NY, USA
Posted on Tuesday, May 14, 2024


Federal Reserve Bank of New YorkWorking at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.

The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance.

What we do:

The Federal Reserve Bank of NY’s (FRBNY) Markets Group mission is to implement market operations, monitor and analyze global financial market developments, execute lender of last resort operations for the Second district and collateral valuation services to the Federal Reserve System (FRS), provide infrastructure and financial services for foreign and international monetary authorities, and to provide capital market-related fiscal agency services to the U.S. Treasury.

The Product, Strategy & Support team is responsible for collaborating with Markets leadership to support the development of business strategy, define the strategic vision for the Market Group’s technology Products, and ensure the portfolio of initiatives aligns with and provides value to the Group’s mission and objectives. The team further ensures the delivery of functionality fully meets the needs of the users, the adoption and ongoing use of products and services maximizes benefit, and the requisite support activities are reliable throughout the full product lifecycle.

The Markets Transformation program is a multi-year Markets strategic effort. The program vision is to evolve our trading and foreign customer banking business technology to effectively support monetary policy implementation, global financial stability, and the role of the US Dollar as the global reserve currency.

Your role as a Product Owner – Markets Transformation:

  • Establish vision, objectives, conceptual designs, and roadmap with measurable outcomes for a customer portal serving foreign banking customers, trading counterparties, and internal staff

  • Establish and influence design principles, strategies, and design systems for delivering effective end-to-end user experiences that cross product boundaries

  • Consistently apply user-centric approach to design, planning, and implementation; identify design opportunities, explore various concepts through prototyping and lead user testing to validate usability assumptions

  • Bring structured approach to framing decision points for consistent evaluation within the Markets Transformation program team and with business stakeholders

  • Coordinate cohesive product design, including guiding technical resources responsible for producing design and architecture artifacts (e.g., data flow diagrams, graphic designs, site maps)

  • Plan and manage interim states and retirement of legacy customer portal assets; orchestrate implementation and dependency management across all impacted parties, including other product owners, architecture, operations support teams, business users, and customers

  • Orchestrate change management and communications efforts to facilitate business and customer rollout and adoption of new business processes and experiences

  • Provide expertise and leadership to product designers and rollout specialists supporting Markets Transformation and the broader Markets portfolio

  • Own the UX strategy and represent cross-product customer voice for the Markets Transformation

  • Support the maturity of UX as a discipline, including guiding technical UX/UI designers in agile squads that are responsible for producing design artifacts including flow diagrams, graphic designs, story boards, and site maps

  • Identify design opportunities, explore various concepts through prototyping and lead user testing to validate usability assumptions

  • Serve as a trusted advisor to CPO and Product Managers in establishing product strategies and portfolio roadmaps

What we are looking for:

  • Product leadership experience in the financial services industry, in customer-facing products and services

  • Experience working in an Agile delivery model

  • Proven ability delivering customer-centric designs in high-profile and complex stakeholder landscapes

  • Superior communication skills to facilitate conceptual problem-solving and senior stakeholder alignment

  • People leadership experience working with technologists, design and communications professionals, and subject matter experts

  • Design and/or product experience in the financial services industry, including with end-to-end trading platforms

  • Familiar with use of FIGMA to drive streamlined user experience and adoption of the design system

Salary Range: $144200 - $236300 / year

We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.

Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more.


Our organization offers benefits that are the best fit for you at every stage of your career:

  • Fully paid Pension plan and 401k with Generous Match

  • Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)

  • Subsidized Public Transportation Program

  • Tuition Assistance Program

  • Onsite Fitness & Wellness Center

  • And more

This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access to CSI and FOMC information is limited to U.S. citizens, lawful permanent residents, individuals who meet the definition of “protected individual” under 8 U.S.C. § 1324b(a)(3), and certain other nonimmigrants. All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to expeditiously become a lawful permanent resident and thereafter a U.S. citizen when eligible.

The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules.

The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, pregnancy, or military service.

We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at ny.leaves@ny.frb.org and we’ll be glad to help. Please note, this is a dedicated e-mail box designed exclusively to assist applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box.

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.

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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