FRFS Sr. Settlement Specialist

Company

Federal Reserve Bank of Boston

Federal Reserve Financial Services (FRFS) delivers a suite of payments services to financial institutions via FedLine® Solutions, Fedwire® Funds and Securities, the National Settlement Service (NSS), FedCash®1, FedACH®, Check Services, and the FedNow® Service.

FRFS operates as a fully integrated organization with groups dedicated to customer experience, operations, technology, product and customer/industry management, enterprise services, payments system improvement, and one focused on the ongoing growth and development of the FedNow instant payment service.

Our strategy defines our future direction, seeking to offer a fully integrated product suite that provides speed, resilience, and choice in meeting the payments needs of FRFS customers across the United States.

Through our Enterprise structure, we strive to meet the needs of the marketplace for new products and services with speed and agility, seek to provide a robust and unified customer experience, and work to create career growth opportunities for FRFS staff.

The FRFS Enterprise operates with a customer-first mindset, comprised of team members seeking to do the best work of their careers in pursuit of our important central bank mission.

The Sr.

Settlement Specialist is primarily responsible for the large-scale accounting/balancing activities for Check and ACH transitions for retail customers/Depository Institutions, government agencies, and 12 Federal Reserve Districts (control accounts).

The Sr.

Settlement Specialist is required to perform and monitor settlement activities in ACH and Check processing applications, in accordance with applicable service level agreements and standards for quality and productivity.

Process accounting entries for ACH and Check with accuracy and integrity and ensure balancing is completed timely for all internal and external customers.

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

Under minimal direct supervision, provides advanced support and analytical skills required to define, implement, support, enhance, operate, and recover the numerous systems used by the Operational areas.

May supervise, lead, or otherwise manage internal projects and or initiatives of moderate to highly complex nature.

May directly lead or otherwise influence small to medium sized teams in assigned initiatives.

Directs the cross team activities to ensure each business area is informed of relevant requirements, responsibilities, expectations, and deliverables to deliver assigned initiatives.

The Sr.

Settlement Specialist performs recurring analytical and other ad-hoc tasks appropriate for the role in scope and complexity.

Key Responsibilities:

• Responsible for preliminary balancing after each distribution (4-5x per day for Check/ACH)

• Creates entries as needed, and closing TPUs for regular ACH settlement (all shifts)

• Performs tasks and monitors Check Business functions ...