Company

Federal Reserve Bank of Philadelphia

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:

Oversee the daily activities of an assigned division of Cash Services, maintaining quality and production targets and control standards. Ensure the operation is in compliance with Treasury, Board of Governors, Federal Reserve System, local regulations and procedures. Respond to the needs of financial institutions for Federal Reserve cash services following the Federal Reserve Operating Circular for Cash Services and local procedures. Participate in local and System workgroups on policy changes and operational initiatives. You will be or could be considered "Essential" during a bank-declared business continuity event which would require you to be on-site when non-essential staff is not required to report.

This position will work the 2nd shift, with a start time of 5:30 pm and an end time between 5-6 am or when the division settlement occurs. The workdays will be Monday night through Thursday night (4 days).

Upon hire, your first 5 months will be spent training during the 1st shift, 5:30 am until approximately 4:00-5:00 pm, Monday through Friday (5 days).

What You Will Do:

• Plan, organizes and directs the activities of an assigned Division in Cash Services. Ensure the operation is adequately staffed and personnel are trained in procedures and controls. Evaluate staff and provide coaching and training.

• Coordinate personnel assignments, schedule overtime and assignment rotations. Recommend improvements in the work environment, workflows and equipment.

• Work with Operations Manager to conduct staff interviews and hiring, performance evaluations, salary reviews, promotions, and training and development of operations staff.

• Plan and coordinate the implementation of all new processes and procedures.

• Resolve internal operating problems or external problems involving the Treasury or financial institutions.

• Assist manager in directing activities of on-site or offsite equipment vendors to ensure that equipment is maintained and performing. Assist manager in controlling expenses. Will perform manager's responsibilities during periods of absence of the Division's manager.

• May participate as a member of a local or System workgroup

Currency Processing and Destruction Division:

• Currency is verified at the piece level and includes the authentication of notes processed for genuineness.

• Coordinate accuracy of the financial accounting related to the processing and destruction of currency. Manage the flow of currency to ensure the detection and reporting of differences and to maintain inventory at levels adequate to meet customer demand. Coordinate the upgrade of high-speed equipment and sensor technology projects.

Cash Administration and Support:

• May include financial accounting and reporting responsibilities for the department.

• May manage all online account activity with financial institutions who deposit or order currency and coin in the third FR district. Direct the processing of and manage differences found in currency and coin deposits, customer claims for account adjustments and billing of service fees.

• May coordinate the reporting of counterfeit banknotes to the US Secret Service.

• May manage the development of the annual expense and capital budget and performs rigorous monthly analysis of spending trends and explanations of variances.

• May manage the forecasting of business volumes and monitors customer activity and its effect on the department operations and expenses. Manage the department's business continuity plan and oversee and coordinating business continuity exercises and tests.

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

Currency Receiving and Paying Division:

• Currency and coin are received at the bulk level, verified and secured and stored in vaults.

• Manage the inventory of currency and coin to ensure that levels are appropriate to fulfill the needs of third district financial institutions.

• Manage offsite placement of inventory of currency and coin held for normal demand or for contingency events.

• Manage and coordinate the ordering of new currency and coin from the Treasury to supplement native volumes to meet demand.

• Coordinate the distribution of new designs of currency or coin together with Treasury's objective to upgrade counterfeit deterrent features.

• Dependent on Division assignment:

This position is responsible for directly supervising 2 employees and overseeing the direction and activities of up to 10 Operations staff.

Scope:

• Annual Value of Currency Received and Paid: 3.2 billion banknotes; $50 billion

• Annual Number of Currency Notes Processed, Authenticated/Destroyed: 1.6 billion banknotes; $22.7 billion

• Average daily General Ledger balance of Cash Held in Vaults: Currency $6 billion; Coin $150 million.

Knowledge:

• Excellent communication and analytical skills.

• Excellent PC skills.

• Experience using online financial settlement or inventory systems.

What You Have:

Education and Experience:

• Bachelor's Degree in Business, Accounting or Operations management or equivalent experience.

• Four years of supervisory experience in a medium to large scale operation.

The salary grade (https://www.philadelphiafed.org/-/media/frbp/assets/institutional/careers/frbp-salary-structure.pdf) for this position is: (Grade 14). Final salary and offer will be determined by the applicant’s background, experience, and skills, and internal equity and alignment with market data.

• Onsite Parking

• Eligible for shift differential (2nd Shift only)

• 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.

• 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 (https://www.philadelphiafed.org/-/media/frbp/assets/institutional/careers/Full-Code-of-Conduct-with-Appendices-A-and-B.pdf) 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. This is a safety sensitive position.

• 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 not a remote opportunity. You will be available to work on-site.

• Learn more about (https://www.philadelphiafed.org/about-us) the Philly Fed and its culture. Learn more about working (https://www.philadelphiafed.org/careers) for the Philly Fed.

#LI-Onsite

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Work Shift

Second (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.

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.