FedNow Business Growth Lead Product Manager

The FedNow Business Growth Lead Product Manager will help drive FedNow's growth strategy by focusing on key customer segments: Banking-as-a-Service (BaaS) financial institutions and on-behalf-of (OBO) service providers, which serve fintechs and corporates.

About the role

This role will contribute to business expansion by understanding the distinct needs and pain points of these segments, developing targeted value propositions, and supporting product capabilities that enable these customers to succeed with instant payments. The Lead Product Manager will work cross-functionally to bring innovations to market that accelerate adoption and deepen engagement across these strategic customer groups.

Responsibilities

• Support the development of value-add product concepts and contribute insights that inform the FedNow roadmap.
• Maintain working knowledge of FedNow features and help analyze upcoming enhancements to understand customer impact.
• Develop an understanding of the instant payments ecosystem—including key players, competitive dynamics, and emerging trends—to provide well-reasoned recommendations.
• Stay informed on payment-adjacent innovations (e.g., stablecoins, tokenized deposits, digital wallets, QR usage) to help the team assess potential implications for FedNow.
• Collaborate closely with partner teams (product delivery, credit risk, legal, risk, Board of Governors, marketing, operations, program management, and technology) to support delivery of new product capabilities.
• Drive product features through discovery, refinement, and delivery in partnership with design, engineering, and cross-functional stakeholders.
• Evaluate customer pain points and adoption barriers to help determine product/market fit for new segments or use cases.
• Build a strong understanding of user needs and operational workflows to ensure features are aligned with customer and ecosystem requirements.
• Participate in product discovery by developing business cases, identifying risks, and drafting recommendations that support prioritization discussions.
• Contribute to a collaborative and transparent team culture through clear communication and active engagement.

Expectations

• Analytical & strategic thinking: Provide input on customer trends, ecosystem developments, and opportunities that could enhance FedNow’s value proposition.
• Collaboration & adaptability: Work effectively across functional groups, adjusting quickly to changing priorities and new information.
• Customer focus: Engage with financial institutions and service providers to understand their needs and reflect them in product decisions.
• Execution & delivery: Support timely execution of product discovery and delivery activities, including problem definition, market analysis, opportunity sizing, and recommendation development.
• Communication: Clearly communicate findings, tradeoffs, and recommendations to teammates and leadership as appropriate.

Modest travel required. This is an individual contributor role.

Qualifications

• 3–5+ years of experience in product management, business analysis, or strategy in fintech, payments, or digital banking.
• Experience working with APIs, developer platforms, or ecosystem-driven products a plus.
• Familiarity with financial products or payment systems.
• Understanding of the instant payments landscape and operational considerations for financial institutions.
• Ability to structure problems, analyze data, and translate insights into clear recommendations.
• Strong communication skills with experience tailoring information for different audiences.
• Demonstrated success working across cross-functional teams to deliver product features.
• Bachelor’s degree in finance, economics, business, policy, marketing, or related field; advanced degree optional.

Pay

The salary range for this position is $157,000-$196,500. If you reside outside of the 1st District, you may be hired by your local Federal Reserve District and compensation will follow the hiring District's range and policy.

Schedule

Full time, first shift. This is a regular, exempt position primarily on-site with residency commutable to one of our offices required.

Security & Eligibility

• All employees assigned to this position will be subject to FBI fingerprint/criminal background and Patriot Act/OFAC watch list checks at least once every five years.
• Any offer of employment is contingent upon successfully passing a two-phase security screening:
  • The first phase consists of a physical examination (including a drug screening), reference checks, and a security investigation (credit and criminal history).
  • The second phase, which may not be complete until after you begin working, is an additional risk-based security screening determined by the position's risk rating. This may include work and residency eligibility verification and personal interviews with the candidate, references, and prior employers.
• All applicants must have resided in the United States for at least three (3) years.