Company

Federal Reserve Bank of San Francisco

Federal Reserve Financial Services (FRFS) delivers a suite of payments services to financial institutions via FedLine® Solutions, Fedwire®, National Settlement Service, FedCash® , FedACH®, and Check Services. We are currently leading a strategic effort to transform FRFS from a product and support office framework to a national, enterprise-focused organization. The new enterprise structure will integrate our existing product and support offices, with the exception of the Treasury Relations Support Office (TRSO). Over time, FRFS will offer an increasingly integrated set of Federal Reserve payment services, incorporating the FedNowSM Service upon its market entry in 2023. Through our evolved structure, we will meet the needs of the marketplace for new products and services more quickly, we will seek to provide a more robust and unified customer experience across our financial service offerings, and we will create new career growth opportunities for FRFS staff.

We are seeking a leader with a strategic, action-oriented mindset focused on intellectual curiosity, agility, accountability, and the ability to drive innovation through experimentation. To achieve our vision for a people-focused organization with a strong collaborative and innovative culture, we expect our leaders to champion an inclusive environment and demonstrate our values in how we work and interact with each other and our broader community.

Lead the evolution and on-going execution of the FRFS Governance & Administration strategy and operations, including Office of the Chief Payments Executive (OCPE), all executive communications and stakeholder engagements, CPE briefings, a contemporary governance model across the enterprise and in partnership across the FRS System, and emerging research areas to support the organization’s strategic objectives and achievement of its mission.

Your role as SVP, Director of the OCPE

The position will report directly to the Chief Payments Executive and will be a member of the FRFS Senior Executive Leadership Team (FLT). As a member of this team, the SVP, Director of the OCPE will set and execute on the vision, strategy, values, and priorities that enable FRFS to achieve its mission.

The role and scope span multiple areas:

Senior Leader to the Governance & Administration team:

Provide senior leadership to a high-performing team and inspire diverse and highly engaged team members through leading people practices.
Create a vision and execute on a specific transition plan for the FRFS Governance & Administration/Office of the CPE as it moves further into the transition phase toward an integrated FRFS enterprise organization and away from existing product and support office orientation.
Take a leading role in the FRFS’s diversity agenda and hold themselves and others accountable.
Create an environment where employees feel included, enabled, and empowered and our FRFS customers experience the benefits of our organizational commitment. Integrate our commitment to diversity, equity, and inclusion (DE&I) into everything we do.
Demonstrate a strong sense of ownership and sense of urgency to the team and more broadly to FRFS, recognizing that our historical pace of work efforts will be slower than the future requires.

Overall Executive Support to the Chief Payments Executive:

Support the CPE in the leadership of key Federal Reserve Financial Services initiatives.
Act as a thought partner and sounding board to the CPE in decision making and serve as a trusted senior advisor and counsel to the CPE on significant issues related to the operations of the FRFS enterprise, including representing the CPE, where appropriate.
Serve as delegate/back-up to CPE on matters of significance.
Lead organization-wide projects on behalf of and/or as designated by the CPE.
Prepare the CPE for executive meetings. Coordinate the involvement of subject matter experts and ensure processes are in place for effective meetings, including presentation preparation and briefing materials.
Ensure that the CPE has effective information flow with FRFS leadership and the broader team to drive the FRFS strategic agenda.
Coordinate CPE stakeholder engagement to advance the FRFS agenda.
Support the CPE in developing a high-performing senior executive leadership team and driving a unified FRFS culture.
Collaborate with CPE and work with team to coordinate effective meetings of the CPE’s FRFS senior executive leadership team, including strategic agenda planning and leveraging innovative thinking/experiences to position the team for success.
Continually learn and stay current and knowledgeable on emerging trends and best practices in payments.
Work with various individuals to draft speeches/keynotes or other content to be communicated by the CPE and assist in the coordination of any CPE interactions with external stakeholders and the media.

FRFS Governance Coordination

Provide strategic leadership to the FRFS Governance function’s vice president and team.
Lead the coordination of subject matter experts within FRFS to frame and prioritize issues for contemporary internal governance bodies.
Partner with the FSPC Support Office Director on a transition plan for FRFS governance oversight in the near-term, and in the long-term, toward streamlined governance processes for FRFS topics, providing proactive information to support the committee’s financial services oversight objective.
Leverage deep experience, knowledge, influence, and personal credibility to promote continuous improvement in FRFS governance and research processes.
Work cooperatively with the Board of Governors in the exercise of their oversight function, including PFMI supervisory oversight.
Oversee the strategy and planning for CPEX.
Oversee FRFS briefings with District Boards of Directors to keep them informed of Bank contributions to FRFS and up to date on the major FRFS initiatives.
Coordinate all Board of Governors/Financial Services Policy Committee year-end reviews and processes.

Payments Research

Serve as a primary liaison and Steering Committee member of the System Payments Research (SPR) groups in order to amplify and leverage existing work in support of FRFS’s core mission.
Coordinate the assessment of current SPR work to understand gaps and key questions for further research.
Develop a program to leverage the current work and conduct future research needed to inform and advance the FRFS strategy.
Oversee any payment research conducted in collaboration with the CPE.

What We Are Looking For

Background and strong interest in payment systems is highly preferred.
Track record of successful leadership to drive results and proactively manage change in a highly matrixed and virtual team, with the ability to develop strategies and initiatives that continually improve the FRFS.
Proficiency in rethinking business models or established practices.
Excellent change management skills, including advocating, anticipating, and orchestrating change. Creates a team culture that enables staff to achieve results in a changing environment.
Proven experience in bringing teams together under a united vision and direction.
Strong business acumen with the ability to be a hands-on, visible, goal-oriented, and independent-minded leader who will constructively challenge the FRFS leadership team and bring leading-edge thinking to effectively guide change within the FRFS.
Strong collaboration skills and an interest in building trust at all levels of the organization, with an ability to partner effectively with others in the pursuit of common goals.
Demonstrated ability for strong execution and accountability for the results.
Strong champion of building a diverse and inclusive work environment
Ability to lead with a System-centered, strategic, action-oriented mindset focused on performance and accountability.
Outstanding people leader and role model, along with a demonstrated ability to grow and develop senior talent and an interest in serving as an active talent champion, coach, and mentor.
Intellectually curious and agile, with demonstrated ability to experiment and lead innovation.

Minimum Qualifications

Bachelor’s degree: Master’s degree preferred or equivalent work experience.
20+ years of experience in large, complex organizations; requires 15+ years of progressive people and business leadership experience.
Experience in Federal Reserve Financial Services is strongly preferred.

Travel

When business travel commences safely, up to 30 percent.

Hiring Salary Range: Min: $322,800 | Mid: $374,500 | Max: $440,500 (Location: San Francisco)

Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and alignment with market data.

We offer a generous benefits package which includes several medical plans, a 401k with up to 7% match, and a fully funded defined benefit pension plan. Learn more about San Francisco Fed Benefits here!

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.

At the SF Fed, we believe in the diversity of our people, ideas, and experiences and are committed to building an inclusive culture that is representative of the communities we serve. The SF Fed is an Equal Opportunity Employer.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

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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SVP, Director of the Chief Payments Executive (OCPE)