Cash Operations Specialist

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 


* 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...