FRFS Wholesale Payments Specialist 2nd Shift
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Job Location:
Boston, NH - USA
Monthly Salary:
$ 57400 - 86100
Posted on:
10 hours ago
Vacancies:
1 Vacancy
Job Summary
Company
Federal Reserve Bank of BostonThe hours for this position are 11:00am to 7:30pm Eastern time.Federal Reserve Financial Services (FRFS) delivers a suite of payments services to financial institutions via FedLine Solutions FedNowSM Fedwire National Settlement Service (NSS) FedCash FedACH (Automated Clearing House) and Check Services. We are currently leading a strategic effort to transform FRFS to a national enterprise-focused organization. Through our evolved structure we will meet the needs of the marketplace for new products and services more quickly seek to provide a more robust and unified customer experience across our financial service offerings and create new career growth opportunities for FRFS staff.
We are seeking leaders to set the vision strategy values and priorities that enable FRFS to achieve its mission. Our leaders must demonstrate a strategic action-oriented mindset focused on intellectual curiosity agility accountability and the ability to drive innovation through experimentation. To achieve our vision for a people-focused organization with a strong collaborative and innovative culture we expect our leaders to champion an inclusive environment and demonstrate our values in how we work and interact with each other and our broader community.
This position is responsible for customer relationship management for six Federal Reserve Districts and collateral custodial operations for the entire System as well as for processing off-line (telephone) securities transfers for customers without an electronic connection and for any Fedwire customer experiencing a service disruption. The Fedwire Payments Specialist must possess a strong understanding of the funds and securities industry and the characteristics of its major players. This position manages over 14000 collateral custodial relationships for state and local governments by monitoring/analyzing collateral values to ensure collateral requirements are satisfied.
The position will be primarily on-site with residency commutable to our Boston office.
As part of the Federal Reserve Financial Services (FRFS) this position handles all aspects of the customer relationship by obtaining and authenticating documentation establishing closing or merging customer funds transfer or securities accounts provides customer education and coordinates with the customer and with other national sites that provide interfacing customer services. Consults financial institutions State Treasurers and local government entities throughout the United States regarding Joint Custody collateral transactions. Analyzes collateral values to ensure compliance with the relevant Operating Circular. Mitigates risk through weekly APS processing of FRB New Yorks unique responsibilities. These responsibilities include making updates to Foreign Central Bank Services monitoring the National Settlement System making updates for the international CLS and CHIPS settlement systems stripping and reconstituting government securities for securities issuers and granting extensions to the closing time for national payment systems.
Responds to requests from financial institutions and their auditing firms.
Researches and responds to customer inquiries or problems.
Tracks and communicates customer database changes to Fedwire management.
Meets established customer relationship service level agreements and quality measures.
Maintains a strong working knowledge of the funds and securities transfer applications and required databases local and standard operating procedures Operating Circulars and Regulation J.
Process various daily accounting entries using various on-line applications in order to balance cost center work units at end of day contacting and coordinating with other district accounting personnel if necessary.
As required to supplement the offline unit executes irrevocable individual transfers of funds and treasury and government securities for participating institutions nationwide.
Contacts authorized personnel at financial institutions to report incoming credits to the Reserve account.
Ensure that customers follow all security controls authorized relationship service level agreement and quality measures.
Escalate to management any service-related problems either with customers or applications.
Provide annual weekend testing support.
Work closely with customers over the phone to test software and network connections to restore service and resolve any contingency communication issues.
Assist and participates in the development of new operational procedures related to all business processes.
Required Qualifications
Knowledge and experience normally acquired through or equivalent to the completion of an Associates degree and a minimum of 2 years of job-related experience.
Strong phone skills (this is a phone heavy position with superior customer service skills)
Strong 10 key/Data entry experience in a Banking environment is a must.
Must be proficient in Word and Excel. Excellent customer service skills.
Salary
The salary range for this position is $57400 - $71800 - $86100. The Boston Fed believes in salary transparency. The final salary and offer will be determined by the applicants background skills internal equity and alignment with market data. Whether youre developing into the job or are a more seasoned candidate we aim to pay competitively.
The Federal Reserve Bank of Boston is committed to provide equal employment opportunities to all persons without regard to race color religion national origin sex sexual orientation gender identity age genetic information disability or military service.
All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.
For this job any offer of employment is contingent upon successfully passing a two-phase security screening. The first phase consists of the satisfactory completion of a physical examination (including a drug screening) reference checks and a security investigation consisting of credit and criminal history checks.
The second phase which might not be complete until after you begin working at the Reserve Bank is an additional risk-based security screening determined by the risk rating of the position. Depending upon the sensitivity of the position this phase may include and is not limited to work and residency eligibility verification and personal interviews with the candidate references and prior employers.
All applicants must have resided in the United States for at least three (3) years.
Full Time / Part Time
Full timeRegular / Temporary
RegularJob Exempt (Yes / No)
NoJob Category
Customer Experience Family GroupWork Shift
Second (United States of America)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.
Always verify and apply to jobs on Federal Reserve System Careers ( or through verified Federal Reserve Bank social media channels.
Required Experience:
IC
Key Skills
- Google Analytics
- Fund Management
- Apparel
- Bus Driving
- Banquet Server
About Company
One of 12 regional banks in the Federal Reserve System, the Federal Reserve Bank of Kansas City oversees system member banks and bank holding companies in Colorado, Kansas, Nebraska, northern New Mexico, Oklahoma, western Missouri, and Wyoming. The bank also has branch offices in Denv ... View more
