Job Information
Federal Reserve Bank Manager of Proof & Settlement in East Rutherford, New Jersey
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.
The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance.
What we do: * * * *
The Federal Reserve Bank of New York seeks a Manager of Proof and Settlement who will 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. The team consists of four analyst and this role will report directly to the Director of Currency Operations.
Your role as Manager of Proof & Settlement:
As the Manager of Proof & Settlement, you will lead a team that partners and supports our cash and custody operations on a variety of settlement activities which includes daily preparation of the Cash & Custody Function’s department proof, providing an independent verification of the cash operation’s team proofs, verification and maintenance of general ledger accounts, batch verification and daily/monthly submission of data to the Board of Governors.
In addition, managing the staff’s activities to ensure customers and/or accounts are not impacted and policies and procedures are followed accordingly. Reconcile daily records, researches and corrects discrepancies and assists with complex transactions or problems and identifies and assists with correcting deficiencies in internal controls.
Highlights of responsibilities include:
Perform daily independent proof verification for all Cash processing transactions and settlement documentation to ensure Department’s daily transactions processed are in balance according to requirements.
Perform analytical work associated with the preparation and transmission of statistical reports to the Board of Governors.
Monitor daily transaction activities for Cash Offsite Programs to ensure transactions were processed according to program requirements.
Maintain and validate daily and monthly General Ledger Account Balance Confirmations.
Prepare reports in support of the Cash Operations related to their metric performance and statistical machine performance.
Perform self-audits of the proof and settlement documentation to ensure compliance with audit reviews.
Interact with the Puerto Rico Cash Depot on a daily basis to obtain accurate and timely data on Cash and Coin activities and functions debit and credit entries to depository institutions accordingly.
Interact with other Reserve Banks across the country primarily related to same day settlement transactions for currency and coin activities.
Develop a broad understanding of the Cash operation and supporting systems to effectively troubleshoot out of balance conditions and continuously identify opportunities for process improvement of existing processes to increase efficiency.
What we are looking for:
Leadership experience and the ability to foster an inclusive and collaborative workplace environment.
Strong communication and facilitation skills, able to explain proof & settlement related concepts and issues across the organization.
Demonstrated ability to work on multiple operational and analytical assignments simultaneously and balance conflicting priorities under tight time constraints.
Ability to prepare concise and insightful trend analysis.
Ability to work both independently or in cross-functional teams with colleagues across functions at the New York Fed and within the Federal Reserve System.
Strong control, analytical and problem-solving skills with excellent attention to detail (i.e. the ability to identify and research issues).
Accounting experience would be a plus but not required.
Requires the ability to work 5 days per week in the office.
Application Deadline: Friday August 9, 2024
Salary Range: $145,000 - $175,000 / 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. (https://www.newyorkfed.org/careers/touchstone-behaviors)
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 (https://www.newyorkfed.org/careers/benefits_health.html)
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. (https://www.newyorkfed.org/aboutthefed/ethics-conflicts-of-interest)
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)
Yes
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.
Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)
OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.
OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.
Why Our People Choose Us:
Our reputation precedes us
There will always be room for personal growth
Our people are first
You’ll find the right balance
Your responsibilities will be meaningful
We hope that you will be our future colleague.
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.