Federal Reserve Financial Services Sr. Business Analyst

Federal Reserve System•Minneapolis, MN

1d•Onsite

About The Position

This position is responsible for business application configuration, setup, maintenance, testing, analysis and troubleshooting in support of a comprehensive suite of retail and wholesale financial service products, including ACH, Check, and FedNow. The Sr. Systems Configuration Analyst demonstrates advanced understanding of business application systems supporting multiple Federal Reserve’s financial services offerings, the setup of routine to complex processing and accounting relationships for thousands of financial institutions within these systems in order to properly process and settle financial transactions, provides complex operational and technical support, and is a primary resource for troubleshooting or solving complex application and operational problems. Successful execution of duties requires obtaining and authenticating financial institution documentation; impact analysis and manipulation of business applications to establish, close, or merge financial institution accounting and settlement accounts and relationships; engage, educate and consult with financial institution accounting, business systems and technical resources to analyze business application configuration and setup, assess impact and ensure proper financial transaction processing and settlement ; and collaborate and coordinate with various internal (FRS) system groups and partners that support interfacing business application systems. Independently coordinates and performs business application configuration, setup, maintenance, testing, analysis and troubleshooting in various Federal Reserve systems which may include: accounting and settlement agreements, correspondent/respondent relationship agreements, mergers, retired and failed financial institutions for ACH, Check, and FedNow payment services. This involves performing due diligence, business application systems research and analysis, processing, accounting and settlement configuration and testing, internal and external stakeholder follow-up, hosting conference calls to analyze, complete, verify and confirm requested application and accounting system configuration changes in all applicable systems. Serves as a primary point of contact for the customer and internal stakeholders, addressing inquiries and providing timely support throughout the process. Collaborates with customers to understand their requirements and objectives. May serve as lead on special projects or assignments that require advanced analytical and/or project management skills and technical acumen. Must be able to meet established service level agreements and quality measures. Responds to Depository Institution (DI) cyber incidents. Serves as the subject matter expert (SME) and is responsible for providing important details regarding the financial institution processing and settlement relationship configuration and executing any necessary actions to disable/restore services as instructed if necessary. These incidents can occur at any hour on any day. Due to the critical nature of these events, the specialist may be called upon outside of normal business hours to respond. Troubleshoots to resolve complex issues related to customer setup. This includes researching and documenting the issue, evaluating severity, determining, and facilitating corrective action, and understanding if escalation to a lead or management is necessary. Troubleshoots to resolve issues with test files such as connectivity issues, file formatting issues, and set-up. Collaborates with internal stakeholders to troubleshoot and resolve issues. Provides coaching and guidance to less experienced staff. Administers cross-training, which includes developing training plans and materials. Provides consultation and/or training to other internal stakeholders as needed to support customers. Participates in or leads various projects or workgroups to collaborate on improvement initiatives. This includes providing support and assistance with hosting meetings, developing agendas, creating presentations, documenting business requirements, complying with procedures and processes, and conducting user acceptance testing as needed. This also includes maintaining department procedures to ensure they are updated as processes change and new automation or tools are tested and implemented. Assists with the coordination and provides technical guidance and support for critical testing activities, such as Business Continuity, Protracted Outage Industry Testing, Operational Readiness, Contingency, operational or application conversions/enhancements, etc. This includes phone support for customers during the test, performing system updates in the test environment for customer profiles, obtaining attestations from customers, escalating customer and technical issues, etc. Serves as the intermediary between customers and other internal stakeholders to report issues, provide status updates, etc.

Requirements

Bachelor’s Degree
Five to Eight years preferred (Senior Level)
Eight+ years of experience (Lead Level)

Responsibilities

Business application configuration, setup, maintenance, testing, analysis and troubleshooting in support of a comprehensive suite of retail and wholesale financial service products, including ACH, Check, and FedNow.
Demonstrates advanced understanding of business application systems supporting multiple Federal Reserve’s financial services offerings.
Setup of routine to complex processing and accounting relationships for thousands of financial institutions within these systems in order to properly process and settle financial transactions.
Provides complex operational and technical support.
Primary resource for troubleshooting or solving complex application and operational problems.
Obtaining and authenticating financial institution documentation.
Impact analysis and manipulation of business applications to establish, close, or merge financial institution accounting and settlement accounts and relationships.
Engage, educate and consult with financial institution accounting, business systems and technical resources to analyze business application configuration and setup, assess impact and ensure proper financial transaction processing and settlement.
Collaborate and coordinate with various internal (FRS) system groups and partners that support interfacing business application systems.
Independently coordinates and performs business application configuration, setup, maintenance, testing, analysis and troubleshooting in various Federal Reserve systems which may include: accounting and settlement agreements, correspondent/respondent relationship agreements, mergers, retired and failed financial institutions for ACH, Check, and FedNow payment services.
Performing due diligence, business application systems research and analysis, processing, accounting and settlement configuration and testing, internal and external stakeholder follow-up, hosting conference calls to analyze, complete, verify and confirm requested application and accounting system configuration changes in all applicable systems.
Serves as a primary point of contact for the customer and internal stakeholders, addressing inquiries and providing timely support throughout the process.
Collaborates with customers to understand their requirements and objectives.
May serve as lead on special projects or assignments that require advanced analytical and/or project management skills and technical acumen.
Meet established service level agreements and quality measures.
Responds to Depository Institution (DI) cyber incidents.
Serves as the subject matter expert (SME) and is responsible for providing important details regarding the financial institution processing and settlement relationship configuration and executing any necessary actions to disable/restore services as instructed if necessary.
Troubleshoots to resolve complex issues related to customer setup.
Troubleshoots to resolve issues with test files such as connectivity issues, file formatting issues, and set-up.
Collaborates with internal stakeholders to troubleshoot and resolve issues.
Provides coaching and guidance to less experienced staff.
Administers cross-training, which includes developing training plans and materials.
Provides consultation and/or training to other internal stakeholders as needed to support customers.
Participates in or leads various projects or workgroups to collaborate on improvement initiatives.
Assists with the coordination and provides technical guidance and support for critical testing activities, such as Business Continuity, Protracted Outage Industry Testing, Operational Readiness, Contingency, operational or application conversions/enhancements, etc.
Serves as the intermediary between customers and other internal stakeholders to report issues, provide status updates, etc.