Wholesale Payments Specialist

Company

Federal Reserve Bank of Atlanta

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.

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 Fedwire 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 securities for securities issuers, and granting extensions to the closing time for national payment sy...