Business Architect

Federal Reserve Bank of Chicago

2mo ago

Applications are closed

Job
Full-time
Senior Level
Business, Operations & Strategy
Richmond, +11

Requirements

Bachelor's degree in business, information systems or related discipline, or equivalent and extensive related experience; M.B.A. preferred.
Five or more years of business experience with a direct responsibility for strategy formulation and/or translation, business analysis/analytics, and business architecture, with a preference towards experience in Financial Industry.
Three or more years of solution architecture experience covering both business and technology architecture solutions, including IT products, services, and capabilities.
Ability to assess the value and risk of existing, new, and emerging technologies against new business designs and business models to achieve targeted business outcomes.
Knowledge in all aspects of designing and constructing business capabilities, value streams, and business processes.
Knowledge of business process management, workflow and integration methods and tools.
Proven experience with formal architectural modeling, experience with MEGA HOPEX or a similar tool strongly desired.
Strong familiarity with architecture industry frameworks such as TOGAF, SAFe, and ArchiMate.
Strong analytical and conceptual skills; ability to create original concepts and theories for a variety of projects.
Able to communicate, influence and persuade — both business and technology leaders, as well as peers. Uses the language of business leaders.
Trusted and respected as a thought leader who can influence and persuade business and technology leaders and maintain a high level of trust and confidence.
Highly collaborative and supportive of business and of its ideals and strategies.
Organizationally savvy — comfortable, experienced, and accomplished at working with business leaders, and able to push back in a professional and diplomatic manner.
Highly innovative with aptitude for foresight, and design and systems thinking.
Up to 20% domestic business travel depending on location.
Additional Requirements:
This is a hybrid position requiring a minimum of two days per week in office.
Applicants must be currently authorized to work in the United States without the need for visa sponsorship now or in the future.
Candidates that live near one of our Reserve Bank locations will be provided some work from home flexibility. Rules for hybrid work arrangements differs from Bank to Bank and should be discussed during the interview process.
This position has additional screening requirements due to the information accessed while performing the job. These additional screenings would be initiated at the time of offer acceptance and can take approximately two months to be completed. The screening covers areas such as education/employment verification, criminal history, credit history, and reaches out to your references and people that know you well.
As a condition of employment, Federal Reserve Bank of Chicago employees must comply with the Bank’s ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. 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, who can provide you contact information for our ethics official if necessary.

Responsibilities

Facilitate business strategy development, including financial analysis, opportunity identification, technology, and business cases.
Engage key business stakeholders to identify business and technology innovation opportunities that enable and drive business strategy. Focuses on growing revenue, optimizes costs, and mitigates risks.
Construct deliverables that demonstrate how to move the business toward realizing its strategic goals and targeted business outcomes.
Use actionable and diagnostic deliverables to help the business and technology leaders make informed investment decisions.
Assess near-term and long-term needs, to establish business and technology investment priorities.
Utilize a toolbox of business architecture deliverables to help business leaders identify and make business and IT investment decisions. Deliverables include, but are not limited to, business outcome statements, strategy on a page, scenario plans, business capability models, value-streams maps, business process models, customer profiles, customer journey maps, customer-centric design, and investment roadmaps.
Ensure the business and operating models fit together by showing the interdependencies between components, and that the business model story makes sense.
Seek ways to drive adoption of new technology and reuse existing technology for enabling business capabilities, value streams and business processes.
Facilitate development of crosslines of business solutions that combine knowledge of business capabilities, value streams and business processes.
Help develop a governance plan for ensuring that business architecture is a primary input to the development of other EA viewpoints such as data, application, and technical architecture.
Participate in development and application of guiding principles, standards, and minimal viable architectures through the FRFS governance process.
Work with key stakeholders, enterprise, and domain architects to define a strategic plan for leveraging business architecture as part of the overall enterprise architecture.
Collaborate with product teams to ensure continuous delivery of business value, as well as to leverage shared technologies, tools, value streams and processes that impact speed to value and time to market.
Develop ecosystem and business capability models, value stream and customer journey maps to guide product teams in developing their minimum viable products, value propositions and drive business outcomes.
Construct business capabilities models, value stream models, business process models, customer journey maps, and other critical and relevant business architecture deliverables to help product managers and product owners make investment and change decisions in the product life cycle.

FAQs

What is the main role of the Business Architect at the Federal Reserve Financial Services (FRFS)?

The Business Architect proactively and holistically guides FRFS enterprise leadership through transformation and optimization initiatives, supporting the formulation of business strategy, outcomes, and capabilities while focusing on growing revenue, optimizing costs, and mitigating risks.

What are some key responsibilities of the Business Architect?

Key responsibilities include facilitating business strategy development, engaging stakeholders to identify innovation opportunities, constructing deliverables to achieve strategic goals, assessing investment priorities, creating various architecture deliverables, and collaborating with product teams to ensure continuous delivery of business value.

What educational background is preferred for this position?

A bachelor's degree in business, information systems, or a related discipline is required, with an M.B.A. preferred.

How many years of experience is required for the Business Architect position?

The position requires five or more years of business experience related to strategy formulation and/or translation, business analysis, and business architecture, as well as three or more years of solution architecture experience.

What skills are essential for a Business Architect at FRFS?

Essential skills include the ability to assess value and risk of technologies, knowledge of designing business capabilities and processes, strong analytical and conceptual skills, effective communication and influencing abilities, and familiarity with architectural modeling tools and frameworks like TOGAF and SAFe.

Is this a fully remote position?

No, this is a hybrid position requiring a minimum of two days per week in the office.

What does the benefits package for this position include?

The benefits package includes medical, dental, vision, prescription drug coverage, 401k savings plan, retirement plan, paid time off, transit benefits, onsite gym access, and a subsidized cafeteria.

Are there any travel requirements for this role?

Yes, the position may require up to 20% domestic business travel depending on location.

What are the additional screening requirements for this position?

Additional screenings include education/employment verification, criminal history, credit history, and contacting references and acquaintances, which can take approximately two months to complete after the job offer acceptance.

What ethical considerations must employees of the Federal Reserve Bank of Chicago adhere to?

Employees must comply with the Bank’s ethics rules, which generally prohibit them and their immediate family from owning securities, such as stock, of banks or savings associations or their affiliates. Any existing ownership conflicts should be discussed with the recruiter.

Federal Reserve Bank of Chicago

The Chicago Fed's success depends on the skills and talents of many people from different backgrounds.

Finance

Industry

1001-5000

Employees

1914

Founded Year

Mission & Purpose

We serve the public interest by fostering a strong economy and promoting financial stability. Operating with a head office in Chicago and a branch office in Detroit, we serve the Seventh Federal Reserve District, an economically diverse region that includes all of Iowa and most of Illinois, Indiana, Michigan, and Wisconsin. Our success depends on the skills and talents of many people from different backgrounds. We support a diverse and inclusive workplace, where employees are respected, treated fairly, and given equal opportunities to perform to their fullest potential.