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Product Manager - Financial Accounting

Federal Reserve Bank of Boston

Federal Reserve Bank of Boston

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See open jobs at Federal Reserve Bank of Boston.
Accounting & Finance, Product
Boston, MA, USA
Posted on Friday, December 22, 2023


Federal Reserve Bank of BostonAs 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 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 with onsite presence multiple times a month.

About the Opportunity

The Federal Reserve System (FRS) has transitioned our human resources, finance, and procurement technology systems into one integrated cloud-based platform using the Workday and SAP Ariba product solutions. To support this platform, operational support capabilities are being reorganized to be singularly focused on one goal – to deliver a world-class platform in support of the FRS' mission. The ERP Support Office (ESO) has been created to spearhead technical support of the new solution by establishing an agile team that will embrace change, drive innovation, and rapidly respond to the changing needs of stakeholders.

The Product Manager will be part of a business line team that is responsible for delivering business value, developing the business line strategy, road maps and identifying business challenges. This role will report to the Chief Product Officer and will partner regularly with System business line partners to understand evolving business needs and prioritization expectations. The Product Manager will partner with ESO technical teams who will be responsible for technical research and delivery. Experience within the Financial, HR, or Procurement business line is expected.

What You Will Do:

  • Responsible for working directly with the Chief Product Officer, business stakeholders, and end users to shape demand and strategize on opportunities; ensure the achievement of business outcomes and value; and partner with the ERP Support Office (ESO) on technology implementation.
  • Works with stakeholders, product team(s), and product managers across business lines to convey the product vision for the end-to-end customer experience.
  • In partnership with the ESO Chief Product Officer, manages the life cycle of the product.
  • Makes dynamic prioritization (in collaboration with the ESO Chief Product Officer and Technical Product Owner) decisions of the product backlog. Communicates the product line vision, definition and business line specific roadmaps (based on desired and defined business outcomes).
  • Creates and champions an agile culture with team empowerment and innovation at its center.

Role Description:

  • Develops and leverages a deep understanding of their business area, industry/market context, and technical complexities that impact the product strategy and business objectives.
  • Owns the execution of short to medium-term (< 2 years) strategy and product area direction and roadmaps.
  • Implements new products, processes, standards or operational plans that will have impact on the achievement of functional results and improves end user experience.
  • Significantly improves on existing processes and practices; problems faced are frequently complex.
  • Requires communication with stakeholders at all levels across the System.


Core Responsibilities:

  • Communicates clear product vision and strategy of business line specific or cross-functional platform roadmaps with measurable outcomes; drives alignment with product and business interdependencies within and outside the System.
  • Provide specialized expertise on product management, industry and/or technology to advance value delivery to end users.
  • Manage complex business and technical dependencies and decision points using scrum methodology to coordinate delivery across multiple teams or products.
  • Work with Technical Product Owner(s) and product team(s) to respond to changing priorities and delivery requirements and across multiple complex products or business areas as needed.
  • Promote full adoption of product features, provide training and onboarding support for users.
  • Promote Agile behaviors within business areas to accelerate the transition to the new operating model.

Organizational Impact:

  • Achieves strategic goals established by Chief Product Officer and ESO.
  • Establishes operational plans for their job area with a short to mid-term impact on results.
  • Proven knowledge of the business and business processes.
  • Manages initiatives of strategic importance to the System, involving large cross-functional teams.
  • Provides measurable input into new products, processes, standards, and/or operational plans that have an impact on the achievement of overall function results.
  • Performs work under broad or vague direction and with very limited oversight as the recognized authority in a domain or subject matter.
  • Influences timelines, expectations and proactively negotiates within key stakeholders.

Communication, Influence and Change Management:

  • Communicates with those within and outside of their area of responsibility, stakeholders, governance groups and the ESO, among others.
  • Strong collaboration skills with both technology and the business.
  • Serves as an advocate for change management within their area of responsibility, with key constituents and within the System broadly.
  • Influences others to accept new concepts, and approaches.


  • Frequently responsible for providing guidance, coaching and training to other employees across the System within area of expertise.

Required Knowledge and Experience:

  • Requires mastery-level knowledge of their job area.
  • Has deeper knowledge of portfolio or program management.
  • Proven record in business area and an understanding of the overall System and external environment.

Leadership Competencies:

  • Champion an inclusive environment to lead the System's Diversity, Equity, and Inclusion goals
  • Lead with a strategic, action-oriented mindset that is focused on performance, accountability, and outcomes
  • Drive results that are beneficial to System and local efforts (demands)
  • Be a role model and serve as an active talent champion, coach, mentor, and connector
  • Engage in intellectual curiosity, agility, and experimentation to drive innovation
  • Build trust and serve as a helpful and contributing colleague
  • Embrace and demonstrate a growth mindset including the new principles and practices as the future of work evolves


  • Bachelor’s degree in Human Resources, Finance, Procurement or a related field. Master’s degree desirable.
  • Demonstrates an Agile mindset; experience in supporting Agile teams and with various lean and Agile methodologies.
  • 10+ years’ experience as a product manager preferred; other Agile and product delivery certifications a plus.
  • Extensive background in business line operations, process improvement, and process redesign.

The Federal Reserve System is committed to a diverse and inclusive workplace and 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.

The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.

Full Time / Part Time

Full time

Regular / Temporary


Job Exempt (Yes / No)


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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