Product Manager I/II/III

Job Title

Product Manager

Job Description

The Federal Reserve Bank of Cleveland's mission is to foster the stability, integrity, and efficiency of the nation's monetary, financial, and payment systems while representing the Fourth District perspectives. As part of the nation's central bank, we are a team of mission-driven professionals who are committed to serving with excellence. Our core values are: Build Trust Every Day, Own Our Actions, Collaborate with Intention, and Be Open to Change. For twenty-six years in a row, we've been named "One of Northeast Ohio's Best Places to Work" by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

To be considered for this role, candidates must be a U.S. citizen.

This role is responsible for providing project and resource planning, coordination, communication and supervision of staff activities for multiple, related, complex business units. In addition this role is responsible for managing one or more product portfolios and for identifying new business and/or product opportunities. The role collaborates with the U.S. Treasury to conduct market and agency research and develops product roadmaps and release schedules. This position is a key partner within the organization and requires communication and collaboration with colleagues, business stakeholders, IT partners and teams across the Federal Reserve Systems and U.S Treasury. This position may lead senior professionals, leads, Manager I or Manager II.

Essential Accountabilities:

• A product visionary that can define vision when one doesn't exist and a successful track record of launching new products.
• Leads the development of departmental or organizational strategic and tactical plans.
• Works with business stakeholders and executives to recommend and build the business case and detailed plans to enable business solutions in support of their tactical and strategic objectives.
• Accountable for the definition and delivery of clear requirements, both functional and non-functional for multiple complex business units.
• Accountable for the development and communication of a product roadmap that details priorities and timing of product deliverables.
• Accountable for the development, communication and strategic direction of UX standards.
• Serves as the point of escalation to resolve product issues and risk.
• Responsible for adhering to and coaching of the departments' implementation of scrum and agile for product management.
• Serves as a subject matter expert for their programs.
• Accountable for achieving departmental performance metrics, and project deliverables on time, with agreed upon scope and within budget
• Accountable for adhering to Bank and Treasury compliance and controls, including maintaining SAFR/FISMA requirements and industry best practices.
• Exhibits and manages a culture that drives innovation and continuous improvement.
• Provides planning and management for moderate to complex projects
• Provides management of staff including performance management, career development, coaching and mentoring
• Participates and/or leads committees/task forces to advance functional and/or Bank initiatives
• Lead and manage application development teams, ensuring optimal resource allocation and project delivery
• Performs administrative and budgeting operations.
• Performs other duties as assigned or requested.

Education and Experience

Product Manager I:

• Bachelor's degree and 5 years of related work experience OR
• Master's degree and 3 years of related work experience

Product Manager II:

• Bachelor's degree and 7 years of related work experience OR
• Master's degree and 5 years of related work experience

Product Manager III:

• Bachelor's degree and 9+ years of related work experience OR
• Master's degree and 7 years of related work experience

Knowledge and Skills

• A demonstrated ability of developing and managing high performing teams.
• Strong business acumen and analytical skills.
• Strong communication skills.
• Strong executive presentation skills.
• Knowledge of regulations, procedures and practices of a specific discipline.
• Ability to perform independent research.
• Ability to perform routine tasks.
• Work experience should include knowledge of and exposure in the development and execution of product strategy in a complex payments environment.
• Proven experience with Salesforce CRM platform, including hands-on knowledge of its capabilities and best practices

Location: Cleveland, OH

The expected starting salary range for the Product Manager I is between ​$111,400 and $139,200 annually and for the Product Manager II is between $123,700 and $154,600 annually and for the Product Manager III is between $137,000 and $171,300. Final salary and offer will be determined by the applicant's background, experience, skills, internal equity, and market data.

The Cleveland Fed offers benefits to support overall health and financial security. Learn more about our benefits here:

Physical Demands and General Working Conditions

This is not necessarily an exhaustive list of all responsibilities, duties, standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, the Federal Reserve Bank of Cleveland reserves the right to revise this or any job description at any time.

Reasonable Accommodation Statement - The Federal Reserve Bank of Cleveland is committed to ensuring that individuals with disabilities are provided with reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. To request a reasonable accommodation for any part of the employment process, please send an email to View email address on click.appcast.io.

Bank's Ethics Rules and Drug Testing:

As a condition of employment, Federal Reserve Bank of Cleveland employees must comply with the Bank's ethics rules which generally prohibit employees, their spouses/domestic partners, and minor children from owning or controlling, directly or indirectly, any debt or equity interest in a depository institution or an affiliate of a depository institution. A "depository institution" means a bank, a trust company, or any institution that accepts deposits, including a bank chartered under the laws of a foreign country. In addition, employees (and their spouses/domestic partners, and minor children) may not own shares of mutual funds, unit investment trusts or ETFs that have a policy, as stated in the prospectus, of concentrating in the financial services industry and that have underlying investments in banks or other depository institutions. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting.

In addition, as a condition of employment, candidates must undergo a background check and will be tested for all controlled substances prohibited by federal law, to include marijuana, prior to hire and for certain safety sensitive positions during employment.  

Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels.