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Federal Reserve System Product Manager in Richmond, Virginia


Federal Reserve Bank of Richmond

At the Richmond Fed, we’re driven by our mission to strengthen the economy and our communities. We take great pride in what we do and it impacts everyday people every day. When you join our team, you’ll become part of a culture that welcomes differences, cares about our communities, and empowers each other to lead from where we are to make things better.

Bring your passion and we’ll provide challenging and purposeful careers in a variety of fields, opportunities to grow and a wide range of benefits and perks that support your health and wealth. It’s all part of what makes #MyRichmondFed a great place to work!

About the Opportunity

The Currency Technology & Support function, part of FedCash Services, has an immediate opening for a Product Manager, at the Associate, Intermediate or Senior level, to support the design, development, and integration of high-speed sensors and currency processing equipment for the NextGen Program. The NextGen Program is a multi-year effort to replace the Federal Reserve's fleet of high-speed currency processing machines. The program will design, develop, and deploy a new fleet of currency processing machines and currency sensors that will bring the latest technology to the Federal Reserve’s 28 currency processing locations. The Product Manager will report to the Manager of Product Management.

As a Product Manager on the Product Management team, you will manage product planning and execution throughout the product lifecycle. You will use your technical expertise and understanding of our business needs to identify customer needs, develop functional requirements, and determine product strategy; and collaborate across the department and with 3rd party vendors to implement new technology and monitor the progress of our products from planning to retirement.

What You Will Do:

  • Work with our Engineering team and with 3rd party vendors to ensure that user needs are kept at the forefront during development.

  • Ensure clear understanding of business and functional requirements across different stakeholder groups.

  • Develop and communicate product strategy and vision for high-speed sensors and currency processing equipment.

  • Facilitate focus groups and other customer engagement efforts to uncover customer needs and pain points.

  • Develop and maintain Product Management artifacts, such as roadmaps, requirements, and backlogs.

  • Lead requirements planning, facilitation, and decomposition by writing requirements for projects, including epics, user stories, and process flows.

  • Frequent travel, including overnight stays possible (up to 20%).


  • Experience in product management, requirements management, and stakeholder engagement support.

  • Associate level: 1+ years of relevant work experience Intermediate level: 3+ years of relevant work experience; Senior level: 5+ years of relevant experience.

  • Bachelor’s degree or higher (Engineering, Math, Physics or related technical field preferred); advanced degree desirable.

Preferred Qualifications:

  • Technical background with knowledge of electromechanical design, software, and IT systems.

  • Knowledge of configuration and change management, requirements development concepts and best practices.

  • Experience using creativity to solve complex engineering problems.

Discover the Reason Why So Many People Love It Here!

When you join the Richmond Fed, not only will you find a challenging and purposeful career, you’ll also have access to a wide range of benefits and perks that support your health and wealth, including:

  • Great medical benefits

  • Pension and 401(k) with employer match

  • Paid time off

  • Tuition reimbursement

  • Employee resource networks

  • Paid volunteer leave

  • Flexible work options

  • Onsite amenities that make working here fun!

Other Requirements and Considerations:

  • A requirement of this position is that the employee must be fully vaccinated against COVID-19; individuals who are unable to be vaccinated due to a medical condition or sincerely held religious belief may request an accommodation from the Bank.

  • Candidates should review the Bank’s Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.

  • If you need assistance or an accommodation due to a disability, please notify rich.recruitment@rich.frb.org.

  • Sponsorship is not available for this role and the ability to obtain and maintain a National Security Clearance (Secret or Top Secret) is highly desired for this role. US Citizenship is required to be eligible for a National Security Clearance.

  • Job title (Engineer Associate, Intermediate or Senior) and salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications/experience.

  • The hiring range for the Engineer - CTO – Assoc is $63,400 - $79,300, annually

  • The hiring range for the Engineer - CTO – Int is $76,700 - $95,900, annually

  • The hiring range for the Engineer - CTO – Sr is $101,900 - $127,400, annually

  • Interested candidates are strongly encouraged to apply by July 11, 2022. Afterwards, applications are reviewed on a rolling basis.

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.

Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)