Digital Payments Product Intern

Company

Federal Reserve Bank of Boston

As an employee of the Boston Fed, you will work to promote sound growth and financial stability in New England and the nation. You will contribute to communities, the region, and the nation by conducting economic research, participating in monetary policy-making, supervising certain financial institutions, providing financial services and payments, playing a leadership role in the payments industry, and supporting economic well-being in communities through a variety of efforts. The Boston Fed is one of 12 Reserve Banks and we serve all or parts of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. Our mission is accomplished through our Bank's values: diversity, equity and inclusion, innovation, integrity, and leadership.

This job is eligible for a hybrid schedule with some on-site work expected.

The Federal Reserve System serves as the central bank of the United States. Its fundamental mission is to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payments systems.

This position is responsible for supporting the Federal Reserve System’s Research and Development around the future of money and payments.

This role is eligible for a hybrid schedule, with a mix of remote work from your home office in the First District and planned onsite work expected for intentional collaboration. Limited travel may be required. Candidates must reside in First District.
 

What we do:

Given the role of the US dollar and payment systems, the Federal Reserve System seeks to further understand the implications, costs, and benefits of the use of different technologies for the future of money and payments, notably as these relate to the roles of a central bank supporting the U.S. financial system. This position offers a unique opportunity to be part of a world-class team working on cutting edge technologies related to digital currency and other tokenized assets, application of smart contracts, wholesale settlement services, ledger design, and advanced cryptography. You will participate in a dynamic work environment that has the feel of a startup while also maintaining the benefits of a larger organization.

How You’ll Succeed:

You will interface with stakeholders throughout the Federal Reserve System and Board of Governors to facilitate the success of our research. This may include, but is not limited to:

• Develop deep understanding of digital payments, including knowledge of various payment methods (credit cards, wires, ACH, digital wallets), payment gateways, payment processing and settlement, fraud prevention strategies, and industry compliance and regulations.
• Support product managers in conduct market research of the digital payments landscape, identify user pain points and use cases, and participate in product development lifecycle.
• Assist in identifying data sources and conducting data analysis to help drive key decision making.
• Learn how to manage products at various stages of the product development lifecycle.
• Manage process improvement efforts to enhance existing product processes and support other business needs as they arise.

Desired Qualifications:

• Working towards a bachelor’s or master’s degree in the following fields: Economics, Finance, Computer Science, Product & Business Management, or related field of study.
• Authorized to work permanently in the U.S. without the need for visa sponsorship now or in the future.
• Demonstrated interest in product management and/or digital payments, previous internship experience is a plus
• High level of organization and attention to detail
• Ability to work independently as well as collaboratively
• Strong interpersonal skills (oral, written, and presentation skills)
• Famil