Wholesale Payments Specialist

Company

Federal Reserve Bank of Boston

Federal Reserve Financial Services (FRFS) delivers a suite of payments services to financial institutions via FedLine® Solutions, FedNowSM, Fedwire®, National Settlement Service (NSS), FedCash®, FedACH® (Automated Clearing House), and Check Services.

We are currently leading a strategic effort to transform FRFS to a national, enterprise-focused organization.

Through our evolved structure, we will meet the needs of the marketplace for new products and services more quickly, seek to provide a more robust and unified customer experience across our financial service offerings, and create new career growth opportunities for FRFS staff.

We are seeking leaders to set the vision, strategy, values, and priorities that enable FRFS to achieve its mission.

Our leaders must demonstrate a strategic, action-oriented mindset focused on intellectual curiosity, agility, accountability, and the ability to drive innovation through experimentation.

To achieve our vision for a people-focused organization with a strong collaborative and innovative culture, we expect our leaders to champion an inclusive environment and demonstrate our values in how we work and interact with each other and our broader community.

The position will be primarily on-site with residency commutable to one of our offices required.

This position is responsible for customer relationship management for six Federal Reserve Districts and collateral custodial operations for the entire System as well as for processing off-line (telephone) securities transfers for customers without an electronic connection and for any Fedwire customer experiencing a service disruption.

The Wholesale Payments Specialist must possess a strong understanding of the funds and securities industry and the characteristics of its major players.

This position manages over 14,000 collateral custodial relationships for state and local governments by monitoring/analyzing collateral values to ensure collateral requirements are satisfied.

As part of the Federal Reserve Financial Services (FRFS), this position handles all aspects of the customer relationship by obtaining and authenticating documentation, establishing, closing or merging customer funds transfer or securities accounts, provides customer education, and coordinates with the customer and with other national sites that provide interfacing customer services.

Consults financial institutions, State Treasurers and local government entities throughout the United States regarding Joint Custody collateral transactions.

Analyzes collateral values to ensure compliance with the relevant Operating Circular.

Mitigates risk through weekly APS processing of FRB New York's unique responsibilities.

These responsibilities include making updates to Foreign Central Bank Services, monitoring the National Settlement System, making updates for the international CLS and CHIPS settlement systems, stripping and reconstituting government securiti...