FRFS Sr. Settlement Specialist

Federal Reserve System • St. Louis, MO

1d • $75,000 - $120,000 • Onsite

About The Position

The Federal Reserve Bank of Boston's Federal Reserve Financial Services (FRFS) provides a range of payment services to financial institutions. The Sr. Settlement Specialist is primarily responsible for large-scale accounting and balancing activities for Check and ACH transactions for retail customers, Depository Institutions, government agencies, and 12 Federal Reserve Districts. This role involves monitoring settlement activities in ACH and Check processing applications, ensuring accuracy and integrity in processing accounting entries, and timely balancing for all customers. The position requires advanced support and analytical skills for numerous systems used by operational areas, with potential to lead internal projects and influence teams. The role emphasizes a customer-first mindset and contributes to the central bank's mission.

Requirements

• Bachelor's Degree or 4 years equivalent general accounting experience preferred
• Five to eight years of relevant experience preferred
• Resided in the United States for at least three (3) years

Nice To Haves

• Advanced working knowledge of critical systems and demonstrates confidence under pressure
• Possesses and advanced working knowledge of the majority of the systems used by the Operational groups and frequently works in those systems to promote operational efficiency, accuracy, and effectiveness in both procedure and actual operations.
• Serves as skilled knowledge resource in software and process testing capacities.
• Possesses skills to work in a dynamic and frequently changing environment
• Team-oriented work ethic and effective verbal and written communication skills
• Clear understanding of the need to elevate other staff members’ knowledge and takes action to see it is achieved.
• Able to manage responsibility with flexibility and focus

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 according to the processes and procedures, including researching, resolving and/or escalating issues when appropriate
• Performs tasks and monitors ACH Business functions related to District Accounting, Government Agency processing, Paper Returns and other specialized functions and applications
• Processes entries for ACH and Check settlement functions with accuracy and consistently balances all TPUs in a timely manner
• Works with internal and external resources to identify and resolve settlement accounting discrepancies
• Provides professional and comprehensive customer service with regards to ACH and Check settlement
• Participates in testing activities as needed, providing support roles similar to those in production, and providing feedback to test administrators
• Processes and reconciles all 12 FRB Districts after each settlement distribution in EASy
• Returns misrouted items for all 12 FRB Districts from EOD settlement distribution
• Sends FRB Offices vendor items for offset to the control account
• Responsible for receiving and verifying manual customer requested ACH return requests
• Creates and sends an ACH formatted file through FedLine Advantage
• Responsible for performing hourly balancing check
• Creates manual entries as needed, balances and closes TPUs for Forward and Returns Check electronic settlement in EASy
• Enters and balances DVS entries and closes TPUs in DVS
• Enters Treasury information in SDAS
• Responsible for Government Agencies to Cash Forecasting reporting
• Serves in escalation and support capacities of complex issues in production and test environments.
• Creates test cases for participants.
• Identifies and documents software defects and process gaps.
• Provides ad-hoc analysis, frequently of a highly complex nature, and other direct assistance to technical and customer support teams.
• Monitors interdepartmental communication while ensuring accuracy and timeliness.
• Skillfully and efficiently controls critical daily payment processing tasks within core applications.
• Serves as the knowledge resource for other analysts and staff members.
• Either performs the role of a project manager or directly assists the assigned project manager with planning, administrative work, meeting organization/facilitation, and discussion leading.
• Consults shift Lead or subject matter experts and performs complex research.
• Exemplifies exceptional customer service and team-oriented behaviors.
• Takes personal responsibility to maintain and advance personal knowledge of various systems and business needs.
• Serves as role model and advisor to other team members.
• Understands the demands of supporting an operation and possess the required knowledge, skills, and temperament to switch from a task to an operational demand or issue, which requires immediate attention, and then resume work on the original task.
• A self-starter with the discipline to achieve deliverables, adapt priorities, and manage the rapidly changes demands of the operation and or project assignments.

Benefits

• The Federal Reserve System 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: Senior