Federal Reserve Bank Cash Services Specialist in Philadelphia, Pennsylvania
The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.
Job Summary : Conducts varied and complex analytical studies and special projects to identify, resolve, and implement solutions to operational and/or automation system problems for Cash Services; formulates and presents recommendations to senior and departmental management. Acts as project leader for System and operational projects of typically moderate to large scope. May plan, develop, analyze, and monitor departmental budgets, internal control systems, procedural manuals, and workflow efficiency initiatives. May create and facilitate departmental training programs. Provides functional guidance to less experienced analysts and staff assisting with projects. If assigned, may oversee the Analytic, Administration, Training and/or Compliance functions. May assume other managerial duties as required by absences.
Principal Duties and Responsibilities : *Essential Duties*
Performs complex analyses on the operational capabilities of new and existing automated systems, or new or revised work processes, by leading or assisting in the implementation of new systems, system enhancements, workflow improvements, or operational and/or financial controls. As project leader, develops timelines and ensures projects are completed on schedule and within budget. Adheres to the Bank's project management standards and methodology Plans, develops, and monitors performance of project budgets by recommending control procedures or options; preparing budget revisions and exception requests; designing production, unit costs, volume, and expense forecasting models. If assigned, may provide functional oversight of Compliance function to include working collaboratively to develop and implement new or revised audits, audit schedules, and/or review work flows. May also perform operational impact assessments for Treasury regulations and/or Custody Control Principles and Standards changes.
Interacts at all management, staff, and technical levels by attending and participating in System conference calls, senior management meetings and planning sessions; provides advice and guidance to management with regard to options, alternatives, and impact assessments for operational decisions.
May assist with planning, developing and executing business continuity project plans.
May support application testing, contingency testing, and real-time problem resolution by providing hands-on support in each of these areas, which includes documenting exceptions, completing test script documentation, proposing enhancements to system functionality to meet local needs and/or known bugs, and keeping management informed through written and verbal communications about contingency testing progress and issues.
Maintains current knowledge of all cash automation systems and:
- may demonstrate knowledge of technical and communications hardware and software developments through troubleshooting and providing guidance to department users
- may implement solutions and recommendations for change by training employees on changes in work methods, updates to procedures, and automated system functionality.
May plan, perform and lead/assist with all types and levels of audits to ensure compliance with established standards
May lead a team in performing audits of Federal Reserve currency and coin inventory maintained in offsite locations. This includes all Coin Depots, Coin Terminals, Strategic Inventory Locations, and Custodial Inventories.
May prepare or review departmental financial and operational performance and expense reports and lead discussions with Management regarding trends, findings or insights.
May prepare forecasts of financial, volume, and operational performance in the preparation of the annual budget of expenses, capital acquisitions, support costs, and staffing.
May respond to requests for analysis from the Cash Product Office, Currency Technology Office, Board of Governors, Bureau of Engraving and Printing or other groups/offices. Review results of any analysis with Sr. Cash Management inclusive of any recommendations resulting from the analysis.
Conducts special studies and technical analyses for financial planning/control, feasibility and cost/benefit studies; identifies problems, formulates solutions, and presents appropriate recommendations to departmental or senior management; follows plan through to implementation. Communicates issues found during studies and analyses by researching root causes, recommending viable solutions, and presenting these issues and solutions to senior management. May assign projects to less experienced analysts and provide training, supervision, and guidance.
Performs all tasks and duties in a manner that supports the Bank`s objective to produce error-free work and to provide high quality customer service. Must meet or exceed the service and quality performance standards and/or objectives for the assigned function.
May independently prepare special projects, proposals, surveys, and questionnaires in accordance with communicated deadlines.
May independently prepare Cash Services responses to information requests (ie: Audit, BOG, other departments, etc.). Summarizes findings and makes recommendations to Sr. Cash Management.
May coordinate all internal and external audit engagements, serving as the main point of contact to prepare documents and satisfy testing requirements for Internal Audit, Independent Auditors, Treasury Office of Compliance and the Board of Governors or other review teams. May be responsible for implementing improvements and recommendations in order to close findings and maintain a strong control environment.
May be assigned to work on Bank or System-level projects/groups.
Operates personal computer when preparing budgets, performing analytical studies and producing informational reports. Maintains knowledge by keeping abreast of System-related activities, including changes or additions to Treasury regulations, PACS, Custody Controls, Information Security, and planning and budget techniques.
May oversee the operation of the department's video security surveillance system and equipment to ensure performance in compliance with CCPS standards, regulations and the department's needs. Collaborates and coordinates with Law Enforcement staff for troubleshooting and problem resolution situations. Assists management with improving customer service, and assessing business opportunities and problems by preparing analytical studies, assisting with planning and developing strategic and operational goals and objectives.
Documents operational and technical processes and procedures, prepares communication and training material. May oversee a centralized training function and act as department trainer for operational procedures, custody controls, information security, data privacy, records retention, contingency planning, ethics, financial controls, and inappropriate behavior. Keeps current with Bank policies in regard to the above and prepares departmental communications and training materials when policies change. Supports department`s information security and business resumption activities.
May prepare analysis for customer conference calls related to business activity and forecasts and communicates recommendations to Sr. Cash Management. Stays current with changes to the Planning and Control System (PACS) accounting rules and determines effect of changes on the department. Proposes changes to Cash-related PACS activities and statistics that will benefit the Cash Department. Monitors the inventory, useful life, and salvage value of fixed assets and the impact on operating expenses. Monitors department contracts and analyzes services rendered.
May serve as the primary point of contact with all third district financial institutions and armored carriers for identifying operational risk and poor quality leading to differences.
May conduct analysis of large dollar differences in incoming deposits and claims associated with processed currency. Fulfills job duties and responsibilities in conformance with sound safety practices.
Performs other related duties as assigned.
Project /Functional Supervision of analyst or clerical - 5 direct and/or 3 indirect
Occasional Functional Supervision of analyst or clerical personnel - 2 Indirect
Scope Measurements :
Department Assets - $8 billion
Direct Expenses: $7 - $9 million
Education and Experience:
Bachelor`s degree or equivalent work experience.
Minimum of 4-6 years related work experience as a business, financial, or project analyst is desirable.
Experience in project management and delivering presentation.
Experience in supervising less experienced analysts.
*Knowledge and Skills: *
Superior observation and written and verbal communication skills. Demonstrated leadership, problem solving, analytical, critical thinking, and organizational skills.
Demonstrated ability to learn new information and apply it quickly.
Excellent communication skills, ability to problem solve and gain concurrence, and the ability work collaboratively across all functions in the Department.
Strong interpersonal and organizational skills.
Knowledge of budgeting, financial analysis and reporting, or project analytics.
Some medium to heavy lifting of PC hardware equipment (up to 50 lbs).
Some work in dirty/dusty operations areas.
Ability to work independently with general direction.
Ability to work flexible hours to cover overtime, participate in contingency testing, and be available to support real crisis scenarios
May be required to stay current with changes to the Planning and Control System (PACS) accounting rules
Advanced skills using MS applications such as Excel, Powerpoint, Access, MS Project, Word, and Visio.
Some travel may be required.
Background investigations including drug testing are required for all new hires as a condition of employment, after the job offer is made. Employment may not begin until the Bank accepts the results of the background investigation.
The Federal Reserve Bank of Philadelphia believes 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 Bank of Philadelphia is proud to be an equal opportunity workplace.
Applicants must be able to provide work authorization to prove their eligibility to work in the United States.
Organization: *Federal Reserve Bank of Philadelphia
Title: Cash Services Specialist
Requisition ID: 261900