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.