Payments Operations Support Analyst at Federal Reserve Bank (FRB) in Boston, Massachusetts

Job Description:

Company

Federal Reserve Bank of Boston

To be a candidate for this position you must be local to the Fed Reserve Bank and have proof of US citizenship or Permanent Residency, and you must have resided in the United States for at least the past three (3) years.

This job is based in the FRB office on a hybrid schedule with 50% onsite work expected. The individual is expected to reside in the FRB district they are assigned to.

What we do:

The FRFS Payments Operations team specializes in servicing the customer relationships and supporting the business activities of securities issuers and settlement agents for the Fedwire® Securities Service and the National Settlement Service (NSS), respectively. We also support the processing of certain retail payments for FedACH® and Check Services. In addition, we manage the service extension process on a national level for the Fedwire® Securities Service, the Fedwire® Funds Service and NSS. Collectively, these services clear and settle financial transactions exceeding $4 trillion per day and represent a foundational underpinning of the United States financial system.

Your role as an Operations Support Analyst:

• Under supervisory oversight, perform critical operational activities in support of securities issuers on the Fedwire Securities Service, which may include: the setup, issuance, servicing and redemption of securities for the U.S. Treasury and various domestic and international government agencies; and processing occasional outgoing funds payments via the Fedwire Funds Service.


• Provide routine support to agents on the National Settlement Service (NSS), which may include performing settlement arrangement maintenance and mailbox management as well as monitoring settlement files and communicating customer account structure changes.


• Respond to general customer inquiries and conduct investigations regarding securities transfers and/or payments for securities issuers, depository institutions, settlement agents, other Federal Reserve Banks and internal customers, including escalated phone calls from the FRFS Support Center.


• Communicate time-sensitive information on system issues, service extensions and service closings for the Fedwire Securities Service, Fedwire Funds Service and NSS.


• Prepare, reconcile and/or close daily settlement proofs for Fedwire Securities, NSS and FedACH.


• Assist with different testing initiatives, which may include supporting Fedwire and NSS customers engaged in Saturday contingency testing 3 – 4 times per year and performing internal User Acceptance Testing for system enhancements.


• As part of enhancing business line resiliency, participate in cross-training initiatives with Retail Settlement to learn various FedACH and Check activities.


•  Assist in analyzing current operational procedures and in documenting recommendations to improve workflows and quality performance


• Participate in key initiatives and special projects as assigned.

What we are looking for:

• Bachelor’s degree in business, accounting or related field


• Minimum of 1 - 3 years of work experience in a payments operations processing environment. Knowledge of Fedwire payments business, a plus


• Ability to interface with customers and resolve issues, follow and explain operating policies and procedures while meeting high productivity and quality standards.


• Knowledge and skills related to cash and/or collateral proof procedures helpful


• Ability to balance multiple daily work activities under tight deadlines and adjust quickly to changing priorities in a dynamic, fast paced environment


• Demonstrated ability to work effectively both independently and as part of a team, including the

ability to interact with a variety of staff and management within a matrix environment

and maintain effective working relationships across the organization

• Proficient computer skills including, but not limited to data entry and ability to navigate within multiple applications concurrently.


• Proficiency using Microsoft Office applications and Outlook.


• Strong skills in the following areas: attention to detail, multi-tasking, interpersonal, verbal and written communications including active listening, and time management.

The Federal Reserve System is committed to a diverse and inclusive workplace and 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.

The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills 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. 

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 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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