Operations Support Manager 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 a Federal Reserve Bank location 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 is a Hybrid role requiring a schedule with 50% onsite work expected.

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.

What you will do:
Operations Management:

• Supervise staff responsible for performing daily critical, detail-oriented Fedwire® and NSS operational activities, which may include:
  
  
  • Issuing, servicing and redeeming securities for the Treasury and various domestic and international government agencies via the Fedwire Securities Service
  
  
  • Processing occasional outgoing funds payments via the Fedwire Funds Service
  
  
  • Managing end-to-end customer support to NSS agents, including but not limited to onboarding/offboarding activities, settlement arrangement maintenance and mailbox management, settlement file monitoring and communicating customer account structure changes
  
  
  • Communicating and managing service extensions and closings for the Fedwire Securities Service, Fedwire Funds Service and NSS.
  
  
  
  


• Collaborate across multiple operations sites in coordinating management and staff coverage needs and work distribution, administering training initiatives, and resolving and reporting operational issues and/or risk events under a “one team” approach


• Actively support customer relationships by responding to customer inquiries and conducting investigations regarding business transactions for securities issuers, depository institutions, settlement agents, other Reserve Banks and internal customers.


• Review and approve payment transactions associated with the operation’s daily settlement proofs


• Participate in and lead staff in 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


• Independently represent the operations management team at meetings with internal and external customers and in preparing and delivering presentations about the operations

People Management:

• Proactively lead 3 – 5 staff by giving support, guidance and coaching, setting clear and consistent performance expectations, establishing accountability, delivering timely and actionable feedback and providing employee recognition


• Identify and provide opportunities for staff professional development and training


• Promote an inclusive culture of collaboration and teamwork and a positive work environment


• Treat all staff members fairly and with respect


• Demonstrate a clear commitment to diversity of thought, people and perspective

Project Management and Process Improvement:

• Participate in and/or lead internal, cross-district and/or industry projects and workgroups, as assigned


• Foster a continuous improvement mindset, identifying improvement opportunities and developing, documenting and implementing procedures and practical solutions to increase efficiencies and mitigate risks within the operation

What we are looking for:

• Bachelor’s degree in business, accounting or related field from an accredited college or university, or a combination of commensurate education and experience, required; Masters or an advanced degree, a plus


• Minimum 5 – 7 years of operations management experience in a payments operations processing environment or related field, preferred


• Proven leader with the ability to mentor, motivate and train staff and review detailed work performed in a fast-paced operations environment, preferred


• Knowledge and skills related to cash and collateral proof procedures preferred; knowledge of Fedwire payments business, a plus


• Knowledge of standard practices and procedures within the Payments industry, a plus


• Expertise in relationship management with an exemplary ability to establish and maintain effective working relationships with different levels of management and staff across a matrix environment and to manage stakeholder expectations


• Demonstrated background in creating documentation for processes and procedures, including the ability to identify opportunities for improvement and drive change implementation within the operations


• Strong written and verbal communication skills, with the ability to analyze and synthesize information to present key points succinctly and effectively


• Superior analytical/critical thinking, problem-solving and decision-making skills, including experience researching, resolving and responding to customers on operational issues and inquiries


• Highly effective organizational and administrative skills, including ability to manage multiple assignments, meet tight deadlines and adjust quickly to changing priorities


• Demonstrated proficiency with Microsoft Office suite (Word, Excel, PowerPoint) and Outlook.

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

Supervisory/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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