Proof and Settlement Associate at Federal Reserve Bank (FRB) in East Rutherford, New Jersey

Job Description:

Company

Federal Reserve Bank of New York

Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.

What we do:

The Cash and Custody Function engages in critical operations on behalf of the Federal Reserve Bank of New York and the Federal Reserve System including the distribution of U.S. Dollar Currency to the Second District, Puerto Rico, U.S. Virgin Islands & international customers, as well as Gold Safekeeping Operations. 

Your Role as a Proof & Settlement Associate:

• Perform daily independent proof verification of all Cash processing team’s transactions, and settlement documentation, to ensure Department’s daily transactions processed are in balance according to requirements and departments debit and credit accounting entries including transmission of statistical reports to the Board of Governors.




• Leads in the daily independent proof verification of all Cash processing team’s transactions and settlement documentation to ensure Department’s daily transactions processed are in balance according to requirements and departments debit and credit accounting entries.




• Leads analytical work associated with the operation and transmission of statistical reports to the Board of Governors with a high degree of accuracy, consistency, and attention to detail.




• Verifies daily transaction activities for Cash Operations and Offsite Programs to ensure transactions were processed according to program requirements.




• Performs due diligence reviews on the daily and quarterly General Ledger Account Balance Confirmations.




• Highly proficient in Cash Operations’ transactions, leads efforts in troubleshooting out-of-balance conditions, and assesses opportunities for process improvement to increase efficiency.

What we are looking for:

• Knowledge of Accounting basics




• Proficient in Microsoft Office Suite




• Works independently with limited supervision, to manage projects and processes.




• Highly effective at influencing teammates and others within and outside of immediate area regarding policies, procedures, and practices without independent authority.




• Highly effective at developing the knowledge and skills of colleagues through continuous training and learning; review/verify work with high level of accuracy and understanding.

To Apply: Please include resume. Cover letter preferred.

Salary Range: 100,000-130,000 / year

We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.

Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more. 

 

Benefits: 

Our organization offers benefits that are the best fit for you at every stage of your career: 

·       Fully paid Pension plan and 401k with Generous Match 

·       Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA) 

·       Subsidized Public Transportation Program 

·       Tuition Assistance Program  

·       Onsite Fitness & Wellness Center 

·       And more 

 

 

The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules. 

 

The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, pregnancy, or military service. 

 

We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at ny.leaves@ny.frb.org and we’ll be glad to help. Please note, this is a dedicated e-mail box designed exclusively to assist applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box.  

 

This is not necessarily an exhaustive list of all responsibilities, duties, performance 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, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change. 

 

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

No

Job Category

Credit Risk Management

Work Shift

First (United States of America)

The Federal Reserve Banks believe 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 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 (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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