FRFS Sr. Settlement Specialist

About the role

The Sr. Settlement Specialist plays a crucial role in the large-scale accounting/balancing activities for Check and ACH transitions for retail customers/depositary institutions, government agencies, and 12 Federal Reserve Districts (control accounts). This position requires performing and monitoring settlement activities in ACH and Check processing applications, ensuring adherence to service level agreements and quality standards.

Responsibilities

• Responsible for preliminary balancing after each distribution (4-5x per day for Check/ACH)
• Create entries as needed, and close TPUs for regular ACH settlement (all shifts)
• Perform tasks and monitor Check Business functions according to processes and procedures, including researching, resolving, and escalating issues when necessary
• Perform tasks and monitor ACH Business functions related to District Accounting, Government Agency processing, Paper Returns, and other specialized functions and applications
• Process entries for ACH and Check settlement functions with accuracy and consistently balance all TPUs in a timely manner
• Work with internal and external resources to identify and resolve settlement accounting discrepancies
• Provide professional and comprehensive customer service with regards to ACH and Check settlement
• Participate in testing activities as needed, providing support roles similar to those in production, and providing feedback to test administrators
• Receive and verify manual customer requested ACH return requests, create and send an ACH formatted file through FedLine Advantage, perform hourly balancing check, enter and balance DVS entries and close TPUs in DVS, enter Treasury information in SDAS, and process Government Agencies to Cash Forecasting reporting
• Possess advanced working knowledge of critical systems and demonstrate confidence under pressure
• Serve in escalation and support capacities of complex issues in production and test environments
• Create test cases for participants, identify and document software defects and process gaps, and possess skills to work in a dynamic and frequently changing environment
• Provide ad-hoc analysis, frequently of a highly complex nature, and other direct assistance to technical and customer support teams
• Maintain and ensure accuracy and timeliness of interdepartmental communication
• Control critical daily payment processing tasks within core applications
• Serve as the knowledge resource for other analysts and staff members
• Provide leadership and advanced support within projects
• Perform the role of a project manager or directly assist the assigned project manager with planning, administrative work, meeting organization/facilitation, and discussion leading
• Consult shift leads or subject matter experts and perform complex research
• Exemplify exceptional customer service and team-oriented behaviors
• Take personal responsibility to maintain and advance personal knowledge of various systems and business needs
• Serve as a role model and advisor to other team members
• Understand 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

Requirements

• Bachelor's Degree or 4 years equivalent general accounting experience preferred
• Five to eight years of relevant experience preferred

Qualifications

• Advanced working knowledge of critical systems
• Confidence under pressure
• Ability to work in a dynamic and frequently changing environment
• Adaptability to rapidly changing demands of the operation and/or project assignments

Skills

• Advanced working knowledge of the majority of the systems used by the Operational groups
• Frequent use of those systems to promote operational efficiency, accuracy, and effectiveness in both procedure and actual operations
• Knowledge resource for other analysts and staff members
• Leadership and advanced support within projects
• Project management or direct assistance to the assigned project manager
• Complex research and consultation with shift leads or subject matter experts

Benefits

The Boston Fed is committed to a diverse and inclusive workplace and to providing 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.

Pay

The salary range for this position is $75K-$120K with the anticipation of hiring at the midpoint. 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.

Schedule

Full Time