What are the responsibilities and job description for the Cash Operations Specialist position at Federal Reserve Bank of Boston?
Company
Federal Reserve Bank of Boston
As an employee of the Boston Fed, you will work to promote sound growth and financial stability in New England and the nation. You will contribute to communities, the region, and the nation by conducting economic research, participating in monetary policy-making, supervising certain financial institutions, providing financial services and payments, playing a leadership role in the payments industry, and supporting economic well-being in communities through a variety of efforts. The Boston Fed is one of 12 Reserve Banks and we serve all or parts of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. Our mission is accomplished through our Bank's values: community, innovation, integrity, trust, leadership, and excellence.
This job is essential to Bank operations and will be an onsite role in a production/manufacturing environment.
Job Summary
This is an entry-level position which includes the receipt, processing, validation, destruction and payout of currency, and receipt and payout of coin, in a highly controlled, regulated, and secure environment.
Strict adherence to a set of defined rules and regulations, including those outlined in the Federal Reserve Currency Operations Manual (FRCOM), Custody Control Principles and Standards (CCPS), and internal District Cash Procedures, is required.
This position is the first in the Cash Operations role career track.
Principal Accountabilities
The Boston Fed believes in salary transparency. The final salary and offer will be determined by the applicant’s background, skills, internal equity, and alignment with market data. Whether you’re developing into the job or are a more seasoned candidate, we aim to pay competitively.
The Federal Reserve Bank of Boston 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.
As a condition of employment, all Federal Reserve Bank of Boston employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning financial interests – such as stocks or bonds – from banks, savings associations, and systemically important financial institutions or their affiliates, such as bank holding companies or savings and loan holding companies. If you, your spouse or domestic partner, or your minor child own such assets and would be unwilling or unable to divest them if you were to accept a job offer, you should raise this issue with our recruitment team. Applicants should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
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.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
No
Job Category
Operations Family Group
Work Shift
First (United States of America)
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.
Privacy Notice
Federal Reserve Bank of Boston
As an employee of the Boston Fed, you will work to promote sound growth and financial stability in New England and the nation. You will contribute to communities, the region, and the nation by conducting economic research, participating in monetary policy-making, supervising certain financial institutions, providing financial services and payments, playing a leadership role in the payments industry, and supporting economic well-being in communities through a variety of efforts. The Boston Fed is one of 12 Reserve Banks and we serve all or parts of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. Our mission is accomplished through our Bank's values: community, innovation, integrity, trust, leadership, and excellence.
This job is essential to Bank operations and will be an onsite role in a production/manufacturing environment.
Job Summary
This is an entry-level position which includes the receipt, processing, validation, destruction and payout of currency, and receipt and payout of coin, in a highly controlled, regulated, and secure environment.
Strict adherence to a set of defined rules and regulations, including those outlined in the Federal Reserve Currency Operations Manual (FRCOM), Custody Control Principles and Standards (CCPS), and internal District Cash Procedures, is required.
This position is the first in the Cash Operations role career track.
Principal Accountabilities
- Acquires job knowledge to pay and receive currency/coin to depository institutions, and/or operate high-speed currency equipment, while achieving challenging production standards and complying with stringent procedures, controls and attendance requirements
- Balances deposits and processes financial accounting transactions/entries to depository institutions using accounting operating systems and Cash Services unique inventory and processing applications
- Navigates complex inventory tracking within said systems to record inventory and transfers among internal valuables handling teams and external customers, account for differences and other pertinent data elements
- Responsible for ensuring the accuracy of the physical counts as well as automated accounting and transfer records
- Complies with stringent documentation requirements
- Obtains counterfeit certification to successfully detect counterfeits and altered notes through manual inspection
- Required to maintain counterfeit certification through semi-annual, or more frequent, testing
- Transfers and stores significant values and quantities of currency and coin using material handling equipment, and maintains custody and accountability throughout completion of these processes
- Receives training and certification to operate material handling equipment (pallet jacks, lifts, stackers, etc.)
- Demonstrates ability to operate in a confined team environment with high results orientation; displays effective interpersonal skills
- Identifies and alerts management team to control and procedure exceptions and equipment problems
- Demonstrates the ability to correct routine mechanical issues with currency verification machines after receiving training
- Knowledge normally acquired through the completion of a High School Diploma or GED
- At least one year of related work experience to include banking, cash handling, warehousing, customer service, manufacturing, or work in a production environment
- Must be able to push equipment weighing 800 pounds, and up to 40 - 60 pounds repeatedly
- Ability to stand for extended periods of time
- Basic math, accounting, and balancing skills
- Familiarity with Microsoft Office proficiency preferred
- Basic 10-key skills preferred
The Boston Fed believes in salary transparency. The final salary and offer will be determined by the applicant’s background, skills, internal equity, and alignment with market data. Whether you’re developing into the job or are a more seasoned candidate, we aim to pay competitively.
The Federal Reserve Bank of Boston 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.
As a condition of employment, all Federal Reserve Bank of Boston employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning financial interests – such as stocks or bonds – from banks, savings associations, and systemically important financial institutions or their affiliates, such as bank holding companies or savings and loan holding companies. If you, your spouse or domestic partner, or your minor child own such assets and would be unwilling or unable to divest them if you were to accept a job offer, you should raise this issue with our recruitment team. Applicants should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
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.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
No
Job Category
Operations Family Group
Work Shift
First (United States of America)
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.
Privacy Notice
Salary : $56,000