Cash Operations Specialist

Federal Reserve System • Boston, MA

3d • Onsite

About The Position

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.

Requirements

• 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
• 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.
• Applicants should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.

Nice To Haves

• Familiarity with Microsoft Office proficiency preferred
• Basic 10-key skills preferred

Responsibilities

• 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

Benefits

• 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED