Cash Services Compliance Analyst at Federal Reserve Bank (FRB) in Philadelphia, Pennsylvania

Job Description:

Company

Federal Reserve Bank of Philadelphia

As a member of the Compliance group within Cash Services, you will provide assistance as needed to conduct financial audits and compliance reviews (via video surveillance, paper and live reviews) to assess adherence to departmental procedures, Custody Controls, Treasury regulations, operating bulletins and other guidelines for the Cash operations. Through these reviews, you will develop recommendations to improve productivity and service or reduce operating expenses. You will also prepare written summaries of recommendations, analyses, and conclusions for Departmental Management.

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:

Under guidance, you will provide analytical support to management and staff in Cash Services. May perform analysis that supports budgeting, financial analysis, and operational activities of Cash Services. May analyze volumes, financial activity, risk management, production standards and workflows. Prepare reports and graphs to support analysis and decision making. Recommend changes to improve processes, workflows, and the control environment. Support management in implementing changes. Manage projects or assist with projects that are moderate to complex in scope with direction from other staff. May present findings and recommendations to department management. Assist as needed to conduct financial audits and compliance reviews to assess adherence to department procedures, Custody Controls, Treasury regulations, operating bulletins and other guidelines for the Cash operations. May also provide back-up support to Administration Settlement function.

What You Will Do:

• You may conduct reviews of processing unit to ensure compliance with established procedures or to develop recommendations to improve productivity and service or reduce operating expenses.


• Prepare written summary of recommendations, analysis, and conclusions.


• May monitor performance against targets and other Federal Reserve Districts.


• May develop productivity measures and targets and forecasts of operating expenses.


• May participate in or lead projects of moderate complexity.


• May analyze spending or volume trends for alignment with approved budgets.


• May help develop the annual business plan and performance targets.


• May help collect data for and monitoring budgets for Cash Operations, including volume forecasts and capital purchases. May develop cost and volume data and forecasting cost/revenue results.


• Maintain a working knowledge of the Bank's expense accounting systems and guidelines and planning and budgeting techniques.


• May help develop and implement new services or equipment and automated systems.


• May extract data from several sources to prepare management reports, perform analysis, and produce daily/weekly/monthly statistical and reports.


• Interact with staff and management at all levels. May help coordinate customer meetings.


• Provide input during conference calls, management meetings, and System work groups.


• Involved in the accomplishment of departmental and Bank-wide performance and quality initiatives.


• May mentor interns.


• Fulfill job duties and responsibilities in conformance with sound safety practices.

What You Have:

• Bachelor's Degree or equivalent operations experience.

Knowledge and Skills:

• Good organizational, analytical, and problem-solving skills.


• Good communication skills both oral and written.


• Strong PC skills, using standard Bank word processing and spreadsheet applications.


• Basis understanding of SQL

Physical Requirements:

• Work in front of a computer monitor and video surveillance equipment for extended periods of time.

The salary grade for this position is: Grade 9. Final salary and offer will be determined by the applicant’s background, experience, and skills, and internal equity and alignment with market data.

We offer a great benefits package that features:

• Medical (4 options), Prescription, Dental (3 options), and Vision Insurance with no waiting period


• 401k/Thrift Plan with generous employer match


• Employer-funded Pension Plan


• Paid Vacation/Sick Time & Holidays


• Monthly $100 Commuter Allowance


• Flexible Spending Accounts and Healthcare Spending Accounts


• Flexible Work Schedule available in most departments


• Life Insurance and Long Term Disability Insurance


• Tuition Reimbursement (undergraduate and graduate)


• Parental Leave


• Free onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilities


• Onsite Cafeteria & Coffee Shop


• Additional Convenience Benefits, Discounts and More…

Additional Information:

• The Federal Reserve Bank of Philadelphia takes your information privacy seriously. Federal Reserve Bank of Philadelphia staff will only email you from the “@phil.frb.org” domain or through the Workday system “rb@myworkday.com”.  If you are initially contacted by phone, feel free to request that the caller provide you with their email address to validate their identity.  If you have any questions about the validity of someone who contacts you regarding this position, please email the Talent Acquisition team at TalentAcquisition@phil.frb.org.


• The Federal Reserve Bank of Philadelphia believes that diversity, equity and inclusion among our employees is essential to our success as an organization, and we want to recruit, develop and retain the most accomplished people from a diverse candidate pool. To support a workplace culture of belonging, we offer eight employee resource groups (ERGs) and a 100 percent rating on the Human Rights Campaign (HRC) Corporate Equality Index. The Federal Reserve Bank of Philadelphia is proud to be an equal opportunity workplace.


• We have eight employee resource groups (ERGs) to support a diverse workforce. Abilities (supporting disabilities and allies), African Heritage, Asian-Pacific, Freedom (supporting LQBTQ+ and allies), Talent Forward (supporting career growth), Women United, Working Families and Veterans. ERGs are open to all employees.


• We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment. If you need assistance or an accommodation due to a disability, please email us at TalentAcquisition@phil.frb.org.


• All Federal Reserve Bank of Philadelphia 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 officer if necessary. You should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.


• Background investigations and drug testing are required for all new hires as a condition of employment, after the job offer is made. Candidates for positions deemed as "safety sensitive" will also be screened for the presence of marijuana. Employment may not begin until the Bank accepts the results of the background investigation.


• All employees 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.


• Certain eligibility rules apply. You will provide work authorization to prove your eligibility to work in the United States.


• The above statements are intended to describe the general nature, level of work and the requirements of this position. They are not intended to be an exhaustive list of all responsibilities associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.


• This is an onsite position Monday- Friday.


• Learn more about the Philly Fed and its culture. Learn more about working for the Philly Fed.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

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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