Cash Ops Specialist

Federal Reserve Bank of New York; Boston (MA); On-site; USD 50,000 - 62,000; Full time

Job summary

Federal Reserve Bank of Boston is seeking an entry-level Cash Operations Associate responsible for the receipt, processing, validation, destruction and payout of currency, and receipt and payout of coin, in a highly controlled environment.

You will follow strict procedures including the Currency Operations Manual and related standards, maintaining accuracy, training to operate currency verification equipment, and working in a collaborative team.

Qualifications

• High School Diploma or GED required.
• At least one year of related work experience in banking, cash handling, warehousing, customer service, manufacturing, or production environment.
• Ability to push equipment weighing 800 pounds and stand for extended periods.

Responsibilities

• Receives currency/coin and processes deposits to depository institutions, and operates currency equipment.
• Maintains accurate counts and documentation, and ensures compliance with procedures and security controls.
• Obtains counterfeit certification and conducts routine inspections to detect altered notes.
• Operates material handling equipment and works within a tight, team-based production environment.

Skills

Basic math

Balancing skills

Microsoft Office

10-key skills

Education

High School Diploma or GED

Tools

Microsoft Office

10-key

Job description

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 team environment with high results orientation; displays effective interpersonal skills. Identifies and alerts management team to control and procedure exceptions and equipment problems. Demonstrates the ability to correct routine mechanical issues with currency verification machines after receiving training.

Knowledge and Experience

Knowledge normally acquired through the completion of a High School Diploma or GED. At least one year of related work experience to include banking, cash handling, warehousing, customer service, manufacturing, or work in a production environment. Must be able to push equipment weighing 800 pounds, and up to 40 - 60 pounds repeatedly. Ability to stand for extended periods of time. Basic math, accounting, and balancing skills. Familiarity with Microsoft Office proficiency preferred. Basic 10-key skills preferred. The starting salary for this position is $56,000 (equivalent to $26.92/hour). The Boston Fed believes in salary transparency. The final salary and offer will be determined by the applicant’s background, skills, internal equity, and alignment with market data. Whether you’re developing into the job or are a more seasoned candidate, we aim to pay competitively. The Federal Reserve Bank of Boston is committed to a diverse and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service. All employees assigned to this position 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. As a condition of employment, all Federal Reserve Bank of Boston employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning financial interests – such as stocks or bonds – from banks, savings associations, and systemically important financial institutions or their affiliates, such as bank holding companies or savings and loan holding companies. If you, your spouse or domestic partner, or your minor child own such assets and would be unwilling or unable to divest them if you were to accept a job offer, you should raise this issue with our recruitment team. Applicants should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions. The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills 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.

Full Time / Part Time

Full time Regular / Temporary Regular Job Exempt (Yes / No) No Job Category Operations Family Group Work Shift First (United States of America)

Privacy Notice

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. 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. Please check back later for more information on available job opportunities.