Federal Reserve Bank of BostonFederal Reserve Financial Services (FRFS) delivers a suite of payments services to financial institutions via FedLine® Solutions, FedNowSM, Fedwire®, National Settlement Service (NSS), FedCash®, 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 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 Financial Services (FRFS) is seeking a Problem Management Specialist to join our evolving enterprise-wide Service Management Organization (SMO). This role is critical in supporting and advancing the operational stability of FRFS products, including Fedwire, ACH, Check, FedLine, FedNow, FedCash, and all supporting applications. As a member of the SMO, you will help build and mature the organization’s problem management capabilities, collaborating across product lines and operational teams to identify, analyze, and resolve systemic issues.
The position will be primarily on-site with residency commutable to one of our offices required.
The Problem Management Specialist will track incidentsand trendsacross FRFS products to pinpoint opportunities for deeper investigation and root cause analysis. You willfacilitateand execute Root Cause Analysisreports andmeetings, oversee associated problem resolutions, and work with cross-functional teams to implement solutions and mitigation steps. The goal is to minimize future incidents and reduce the risk of recurrence, drawing on a broad understanding of FRFS services and the underlying technologies that support them. By partnering with teams across the enterprise, you will help shape andmaintaina world-class, end-to-end customer experience for all FRFS users.
Position Contributions –
As part of the SMO, you will:
Maintain laser focus on delivering a world class, end-to-end customer experience across all FRFS products.
Diagnose and resolve problems impacting any FRFS service or supporting application.
Work multiple problem tickets simultaneously, prioritizing based on business impact and urgency.
Collaborate with other groups to determine root causes and drive enterprise-wide solutions.
Write and maintain knowledge articles for known errors and share best practices across the organization.
Leadpro-activeproblem management initiatives to prevent future incidents and continuously improve service reliability.
This position offers a unique opportunity to be part of a transformative initiative, helping to build and strengthen an enterprise-wide SMO that supports the Federal Reserve’s mission-critical financial services. Your work will directly contribute to operational excellence across the FRFS portfolio, enhancing the payments landscape and customer experience nationwide.
Expertise you would bring –
Bachelor’s degree with6+yearsrelevant work experience
ITIL certificationpreferred
Experience with troubleshooting software-based Services
Experienceworking with payments systems (preferred)and monitoring/tracking software (such asServiceNow, Salesforce, Dynatrace, Grafana, or similar tools within a large enterprise).
Analytical and problem-solving skills with ability to gather, analyze and synthesize information
Initiative toward improvingcustomer experience leveraging the scientific method
Strong collaboration, influencing skills, and verbal and written communication skills
Strongorganizational and time management skills
Experience with one or more methods fordeterminingroot cause such as Ishikawa, 5 Whys, FMEA, Kaizen, etc.
Experience or familiarity with event management
Experience troubleshooting both on-prem and cloud-based infrastructures
It's added value if you have-
Exposure to, and experience with, developing and usingautomation to solve business problems
Experience working with payments systems (preferred)
Familiarity with ISO20022 messages
Experience or familiarity with Agile, orSAFeAgile
Experience with agile software tools such as Octane, Jira, VersionOne, Confluence
Salary
The salary range for this position is $121,800 - $182,600. The Boston Fed believes in salary transparency. We anticipate hiring in $140-150k range for candidates who meet most qualifications, with room for growth. 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 (Boston Fed), you may be hired by your local Federal Reserve District and compensation will follow hiring District's range and policy.
The Federal Reserve Bank of Boston is committed 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.
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
Regular
Yes
Operations Family Group
First (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.
The Federal Reserve System is the Central Bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded.
Today the Federal Reserve's duties fall into four general areas:
Conducting the nation's monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices and moderate long-term interest rates.
Supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of consumers.
Maintaining the stability of the financial system and containing systemic risk that may arise in financial markets.
Providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system.
