CRMSO Product Manager

Company

Federal Reserve Bank of Chicago

As approved by the Conference of Presidents (COP), the Federal Reserve System (System) has created a Credit Risk Management Support Office (CRMSO) to facilitate an enterprise approach to activities that support the Credit Risk Management (CRM) business line. The CRM business line manages credit risk arising from Discount Window lending and Master Account management (overdrafts and overall payment system risk).

The CRMSO, hosted by the Federal Reserve Bank of Chicago, is primarily responsible for leading the development and execution of strategic priorities and initiatives and facilitating enterprise decision-making.

Additional CRMSO function responsibilities include:

• Making decisions as delegated by the Payments Committee and promoting and driving effective decision making to achieve consistent approaches to business delivery.
• Identifying and organizing adequate resources to ensure CRM business groups and initiatives are optimally organized and staffed to support CRM business and technology functions.
• Overseeing, managing, and reporting on the progress of enterprise projects and initiatives.

The Product Manager role supports the CRM business vision and strategy by setting direction for CRM portfolio and product transformation. This role is responsible for leading end-to-end product strategy and delivery in partnership with Credit Risk Management IT (CRM IT) partners. The role manages the product roadmap, translates customer needs to deliver business value, sets delivery objectives, and defines key result expectations to measure progress. The role collaborates regularly with System IT partners, the CRM business line, partner product offices such as in Federal Reserve Financial Services (FRFS), and the Board of Governors. The role supports priorities from the Payments Committee and work has direct visibility at the senior executive level.

Your Responsibilities:

• Works throughout the product lifecycle with a Credit Risk Management IT solutions delivery team and CRMSO leadership to define product vision, business requirements, and success criteria while aligning roadmap to product vision, objectives, strategy, and priorities.  Attends IT and business meetings to inform direction for the IT team on behalf of the business. 
• Strategizes and plans implementation needs for the business to ensure effective adoption within the business community.  Coordinates with communications and training partners to support product adoption.
• Ensures delivery of quality products and services and monitors the market to develop competitive analyses. Demonstrates advanced subject matter expertise in their product(s) and related business domains, effectively representing the voice of the customer from product vision through product roadmap. Responsible for the creative process of generating, developing, and curating new ideas and innovations to continuously improve and optimize utilization of the product.
• Works across CRM IT products to identify dependencies and work through roadblocks and proactively identifies impacts from other System business initiatives.  May represent the CRM business on System groups to plan across business lines and ensure effective coordination in alignment with System IT strategy. 
• Provides oversight around decisions and work taking place within CRMT IT and business resources related to requirements and testing to provide signoff on key milestones.  Depending on need, may actively participate in more detailed discussions to ensure user stories are complete and that testing is thorough to meet business needs. 
• Builds and maintains key relationships to allow for effective ongoing two-way communication with management and business areas to integrate products, services, and process improvements into business areas’ strategic objectives and operations.
• Communicates product roadmap and product release features to customers and stakeholders and creates regular feedback loops to gather insights that drive increased product value delivery.
• Executes product leadership responsibilities to effectively identify potential process efficiencies (including opportunities for standardization) or cost-saving opportunities, resolve resource constraints, and support business activities through ensuring objectives, goals and client needs are met.
• Provides thought leadership in product management disciplines and mentorship to junior employees in product disciplines. Sets standards and practices for product management, participates in communities of product professionals and helps promote and evolve the discipline of product management throughout the organization.

Your Background:

Education & Experience

• Master’s degree or Bachelor’s degree with equival