Business Architect

Company

Federal Reserve Bank of Chicago

Come and join the Architecture team for the Federal Reserve Financial Services (FRFS), helping advance our portfolio to support the next generation of payments technology. FRFS provides critical payment and informational services to thousands of financial institutions across the United States, and our solutions are designed to be secure and resilient to support approximately $4 trillion/ day in payments transactions.

The Business Architect will be part of the Federal Reserve Financial Services (FRFS) Enterprise Architecture team. The business architect proactively and holistically helps and guides the FRFS enterprise leadership through transformation and optimization initiatives, supporting the formulation of business strategy, outcomes, and capabilities. The business architect’s scope of activities includes helping the FRFS enterprise achieve targeted business outcomes related to growing revenue, optimizing costs, and mitigating risks. They focus on development of the business strategy and business architecture of the FRFS enterprise as a whole.

Your Responsibilities:

• Facilitate business strategy development, including financial analysis, opportunity identification, technology, and business cases.
• Engage key business stakeholders to identify business and technology innovation opportunities that enable and drive business strategy. Focuses on growing revenue, optimizes costs, and mitigates risks.
• Construct deliverables that demonstrate how to move the business toward realizing its strategic goals and targeted business outcomes.
• Use actionable and diagnostic deliverables to help the business and technology leaders make informed investment decisions.
• Assess near-term and long-term needs, to establish business and technology investment priorities.
• Utilize a toolbox of business architecture deliverables to help business leaders identify and make business and IT investment decisions. Deliverables include, but are not limited to, business outcome statements, strategy on a page, scenario plans, business capability models, value-streams maps, business process models, customer profiles, customer journey maps, customer-centric design, and investment roadmaps.
• Ensure the business and operating models fit together by showing the interdependencies between components, and that the business model story makes sense.
• Seek ways to drive adoption of new technology and reuse existing technology for enabling business capabilities, value streams and business processes.
• Facilitate development of crosslines of business solutions that combine knowledge of business capabilities, value streams and business processes.
• Help develop a governance plan for ensuring that business architecture is a primary input to the development of other EA viewpoints such as data, application, and technical architecture.
• Participate in development and application of guiding principles, standards, and minimal viable architectures through the FRFS governance process.
• Work with key stakeholders, enterprise, and domain architects to define a strategic plan for leveraging business architecture as part of the overall enterprise architecture.
• Collaborate with product teams to ensure continuous delivery of business value, as well as to leverage shared technologies, tools, value streams and processes that impact speed to value and time to market.
• Develop ecosystem and business capability models, value stream and customer journey maps to guide product teams in developing their minimum viable products, value propositions and drive business outcomes.
• Construct business capabilities models, value stream models, business process models, customer journey maps, and other critical and relevant business architecture deliverables to help product managers and product owners make investment and change decisions in the product life cycle.

Your Background:

• Bachelor's degree in business, information systems or related discipline, or equivalent and extensive related experience; M.B.A. preferred.
• Five or more years of business experience with a direct responsibility for strategy formulation and/or translation, business analysis/analytics, and business architecture, with a preference towards experience in Financial Industry.
• Three or more years of solution architecture experience covering both business and technology architecture solutions, including IT products, services, and capabilities.
• Ability to assess the value and risk of existing, new, and emerging technologies against new business designs and business models to achieve targeted business outcomes.
• Knowledge in all aspects of designing and constructing business capabilities, value streams, and business processes.
• Knowledge