Company

Federal Reserve Bank of BostonTitle: Vice President
Department: Real Estate Services Group
Division: Enterprise Services Division

Vice President - Real Estate Services Group

This role leads a department of essential onsite teammates and requires in-office presence and is not eligible for hybrid nor remote work arrangements.

ABOUT THE FEDERAL RESERVE BANK OF BOSTON

The Federal Reserve System (System) was founded by Congress in 1913 and 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 payment systems to promote optimal economic performance.

As part of the nation’s central bank, the Boston Reserve Bank promotes sound growth and financial stability in New England (Connecticut – except Fairfield County, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont) and the nation. The Bank's unique contributions to its local communities, region, and the nation are founded on high-quality research and bank supervisory activities, excellence in supporting financial services and financial markets stability, leadership in payments innovation, and a commitment to supporting economic well-being in communities. The Bank holds several key System roles, including leading the Financial Support Office, which manages the System budget. The Bank also develops and leads innovative payments programs and played a central leadership role in the Federal Reserve’s crisis responses both during the Great Financial Crisis (2008) and global pandemic (2020). The Bank is a thought leader and innovator in numerous areas. Among its most critical responsibilities:

• Conducting leading-edge research and education on monetary policy, financial markets and stability, and important regional and national economic concerns.

• Providing financial stability expertise through a deep knowledge of money markets and the institutions key to those markets.

• Conducting dynamic, comprehensive bank supervision through on-site examination and by monitoring banking conditions, practices, and emerging issues.

• Providing efficient, high-quality payments services for depository institutions.

• Transforming the nation’s payments system by leading the development of the FedNowSM Service (“FedNow”), a real-time gross payments settlement system.

• Pursuing cooperative endeavors with business, community, and government leaders to address key local and regional economic issues, often with a focus on community development and economic opportunity.

• Supporting and improving economic outcomes for the broader community, particularly low- and moderate-income individuals. This commitment is reflected in our research on race and its link to economic well-being, our Working Places community development programs, and our initiative to improve the quality of low-wage jobs.

• Building institutional expertise and flexibility by identifying, engaging, and developing a highly trained and diverse staff.

• Providing leadership to System initiatives and interacting with other regulatory bodies and central banks.

The Bank is a business leader in Greater Boston and throughout the First District. We serve as an important business community advisor in areas of economic and workforce development. Our President and Bank leaders are engaged with numerous organizations that support the First District community including professional associations and academic boards.

The Bank’s approximately 1,300 employees are based mostly in the First District, and they take great pride in working for an organization whose mission is to promote sound economic growth, financial stability in the New England area and the United States. We are proud of our strong organizational culture, which is built on our four core values: integrity, leadership, diversity and inclusion, and innovation.

ABOUT THE POSITION

• The Vice President of the Real Estate Services Group (RESG) is an executive-level Bank officer position with responsibility for leading, developing, and managing the execution of the long-term corporate real estate strategy that supports and contributes to the achievement of the organization’s vision and mission.

• The incumbent is a proven leader of talent and will contribute to Bank-wide objectives, address policy development, and weigh in on strategic bank initiatives as a member of the Bank’s Management Council and through executive dialogue sessions.

• This position is responsible for the supervision of other executives, directors, and supervisors. This includes the comprehensive engagement, training and development, and performance management of team members at the executive and staff levels.

• The incumbent shall also contribute to broader Federal Reserve System initiatives as the Bank’s representative serving on the Federal Reserve’s Subcommittee on Administrative Services (SAS). This includes review of subcommittee initiatives and planned actions with local Bank colleagues to best inform the committee of the Bank’s positions on topics of discussion. The incumbent shall also have opportunities to accept appointments as chair and other leadership roles.

• The incumbent will represent the Bank in the First District by way of membership and/or committee roles as appointed by organizations such as the Building Owners and Managers Association (BOMA Boston), A Better City (ABC), The Greenway Business Improvement District (Greenway BID), CoreNet Global, and others.

• The Vice President of the Real Estate Services Group (RESG) has responsibility for specific areas of focus that include:

  • Fosters a people-centric culture which embraces honest and open dialogue, thrives on divergent and inclusive views, and insures that employee engagement and development are top managerial priorities.

  • Promotes a safety-first culture and ensures employees are encouraged to identify, mitigate, and report any safety risks.

  • Fosters strong peer relationships throughout the Bank including strong strategic partnerships with: Financial Management & Accounting, Procurement, Human Resources, Information Technology, and Law Enforcement.

  • Enhances and continuously improves building infrastructure, amenities, and services as necessitated by obsolescence, end of useful life, inefficiency, operational failure, and emerging requirements. Identifies building-related risks and partners with their team to recommend mitigating actions.

  • Develops, implements, and manages the annual department capital and operating expense budgets in accordance with System and Bank guidelines.

  • Directs the Bank’s corporate leasing program, conference services, and catering to maximize the realized value of underutilized office space through lease agreements with high quality tenants.

  • Implements strategies to reduce the impact of Bank operations on the environment and to improve cost efficiencies.

  • Executes the vision and strategic direction for corporate sustainability efforts.

OTHER ACCOUNTABILITIES: performs other duties as assigned.

KNOWLEDGE AND EXPERIENCE

Knowledge and experience normally acquired through, or equivalent to, the completion of a bachelor’s degree (master’s degree acceptable) and applicable professional certifications, and a minimum of ten (10) years of related job experience, including at least 7 years of people management / leadership experience with a proven track record of inspirational and inclusive leadership that values the employee voice in equal weight with customers and peers.

TECHNICAL KNOWLEDGE:

• Property and facility management including construction project management.

• Mechanical, electrical, and plumbing systems

• Building code compliance and infrastructure components

• Environmental health & life safety risk

• Financial management, analysis, and accounting

• Contract and lease negotiation and management

• Corporate sustainability

LEADERSHIP CAPABILITIES

• Champions an inclusive environment which reflects the System’s and Bank’s Diversity, Equity, and Inclusion goals. This includes a proven track record of DE&I programs which tie to all aspects of the employee lifecycle.

• Leads a team of 40+ constituents with a strategic, action-oriented mindset that is focused on performance, accountability, and outcomes.

• Drive results that are aligned and beneficial to System and local efforts (demands).

• Is a role model and serve as an active talent champion, coach, mentor, and connector with a focus on driving trust throughout the department and with peers.

• Embrace and demonstrate a growth and experimentation mindset to drive innovative solutions and principles and practices as the future of work evolves.

OTHER REQUIREMENTS

• Eligibility to work in the United States is mandatory. The ability to obtain and maintain a top-secret level security clearance may be a future consideration for this role.

• Residency in the First District with a fully in-office presence to support an essential onsite team.

• Willingness to travel for pre-planned domestic trips.

• This role leads a department of essential onsite teammates and requires in-office presence and is not eligible for hybrid nor remote work arrangements.

The Federal Reserve Bank of Boston 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 lists 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.

ETHICS CONSIDERATIONS & PROHIBITED ACTIVITIES

It is indispensable to the proper functioning of, and the maintenance of public confidence in, the Federal Reserve, for the Bank and the System to function properly and maintain high public confidence. It is essential for every employee to perform their duties with honesty, integrity, and impartiality, without improper preferential treatment of any person or organization. Bank employees are subject to federal criminal statutes that prohibit financial conflicts of interest (e.g., an employee cannot work on any matter in which they or certain employee-affiliated parties have a financial interest). In addition, the Bank’s code of conduct generally prohibits activities such as:

• Outside activities that are inconsistent with the employee’s duties and responsibilities, e.g., holding a position as a director of a publicly traded company

• Certain partisan political activities, such as fundraising or holding partisan elected office

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Executive

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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