Company

Federal Reserve Bank of New YorkWhen you work at the New York Fed, you have the opportunity to make an impact in our communities and across the nation. Our mission-driven, curious, and dedicated colleagues apply their diverse perspectives and unique talents to support the strength of the U.S. economy and stability of the global financial system. At the Bank, we work full-time onsite with our teams. We believe being physically together allows us to draw on our collective strengths, while recognizing that the ability to work flexibly from time to time remains important to achieving our mission.

Our Unique Work:

The New York Fed, on behalf of the Federal Reserve System, offers correspondent banking and custody services to foreign central banks and international monetary authorities (FIMA) and the System Open Market Account (SOMA) to facilitate their official financial operations, as well as support financial stability operations in the U.S. and abroad. The Central Bank and International Account Services (CBIAS) area of the New York Fed's Markets Group serves the U.S. dollar reserve management needs of its official customers by offering payments, custodial, clearing and settlement, collateral management, and investment and liquidity services. CBIAS has a long history of providing safe and efficient banking services to its customer base by managing over $7 trillion for FIMA customers and SOMA with transaction volume presently exceeding $300 billion per day. CBIAS maintains two operating locations, in New York City and Richmond, Virginia.

The Cash Management (CM) staff is one of four staff units in the Customer Account Services (CAS) Directorate within CBIAS. The CAS Directorate is responsible for relationship management and account services, investment and liquidity management, customer trend analysis, and market intelligence. We are looking for a Cash Management Associate to support CM’s work in monitoring and management of the liquidity positions of central bank accounts and in investing customer funds in USD funding and government securities markets. The role includes initiating and participating in dialogue with customers and their counterparties on account management issues.

How You’ll Make an Impact as a Central Bank an International Account Services Associate:

• Monitor and manage customers' account activity, including recommending and executing investment actions such as the purchase and sale of Treasury securities as well as overnight investment in the customers’ repurchase agreement pool.

• Assist in the development and implementation of procedures and controls designed to maximize the efficiency of CM operational activities.

• Prepare data and/or communications to provide excellent customer service, while advancing FRBNY interests, especially as they relate to ensuring sufficient customer liquidity and effective management of the customers’ repurchase agreement pool.

• Participate in analytical endeavors aimed at improving the effectiveness and efficiency of CM's business lines, developing a better understanding of customer needs and behaviors, and identifying trends in customer account activity relative to developments in global markets.

The Unique Skill Sets We’re Looking for:

• Demonstrated aptitude for performing operational activities and customer service responsibilities under time pressure with a high degree of accuracy and strong attention to detail.

• Strong interpersonal skills and ability to interact and collaborate effectively with team members, peers, senior management, and external parties.

• Ability to provide concise and clear analysis in written and verbal form.

• Interest in leading small projects and processes, ability to balance competing priorities.

• Strong analytical, critical thinking and problem-solving skills with proven ability to recommend ways to enhance operational efficiencies and analytical work.

• Strong knowledge of Microsoft Excel; knowledge of SQL and Tableau desirable.

• Understanding of the economic and market factors that shape foreign currency reserve management decisions, including fixed income markets and basic portfolio management principles.

• Flexibility to travel to the New York and Richmond VA sites.

Other Things to Know:

Salary Range:

NY: $125800 - $148600

Richmond: $107500 - $123200

We believe in transparency at the New York Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.

How We’ll Support You:

Our programs and benefits are designed to support you through all your life stages:

• Learning & Growing: Educational assistance, career development tools, and stretch opportunities

• Supporting Your Family: Parental leave, adoption assistance, back-up dependent and elder care, college planning resources, and more

• Managing Your Health: Comprehensive insurance plans, leave policies, onsite Health & Wellness Center, and onsite Fitness Center

• Optimizing Your Finances: Pension plan, 401(k) with generous match, financial planning resources, and subsidized public transportation program

Our Culture is deeply grounded in our Touchstone Behaviors— By working with us, you’ll have the opportunity to develop and demonstrate your ability to Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership. These competencies shape our culture here at the Bank. They also provide a shared language for how we work together and achieve success and set clear expectations for leading with impact at every stage of your career. Learn more.

The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules.

We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at ny.leaves@ny.frb.org and we’ll be glad to help. Please note, this is a dedicated e-mail box designed exclusively to assist applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box.

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.

This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access to CSI and FOMC information is limited to U.S. citizens, lawful permanent residents, individuals who meet the definition of “protected individual” under 8 U.S.C. § 1324b(a)(3), and certain other nonimmigrants. All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to expeditiously become a lawful permanent resident and thereafter a U.S. citizen when eligible.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Markets Family Group

Work Shift

First (United States of America)

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.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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