Full-Time

Wholesale Payments Specialist

Posted on 4/2/2025

The Federal Reserve System

The Federal Reserve System

1,001-5,000 employees

Central bank managing U.S. monetary policy

No salary listed

Junior, Mid

Boston, MA, USA + 1 more

More locations: Atlanta, GA, USA

The position requires residency commutable to one of the offices in Boston or Atlanta.

US Top Secret Clearance Required

Category
Risk Management
Finance & Banking
Required Skills
Software Testing
Word/Pages/Docs
Customer Service
Excel/Numbers/Sheets
Connection
Connection
Connection
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Requirements
  • Knowledge and experience normally acquired through, or equivalent to, the completion of an Associate's degree and a minimum of 2 years of job-related experience.
  • Strong phone skills (this is a phone heavy position with superior customer service skills)
  • Strong 10 key/Data entry experience in a Banking environment is a must.
  • Must be proficient in Word and Excel.
  • Excellent customer service skills.
Responsibilities
  • Responds to requests from financial institutions and their auditing firms. Researches and responds to customer inquiries or problems.
  • Tracks and communicates customer database changes to Wholesale management.
  • Meets established customer relationship service level agreements and quality measures.
  • Maintains a strong working knowledge of the funds and securities transfer applications and required databases, local and standard operating procedures, Operating Circulars and Regulation J.
  • Process various daily accounting entries using various on-line applications in order to balance cost center work units at end of day, contacting and coordinating with other district accounting personnel, if necessary.
  • As required to supplement the offline unit, executes irrevocable individual transfers of funds and treasury and government securities for participating institutions nationwide.
  • Check research and check repair tasks
  • Contacts authorized personnel at financial institutions to report incoming credits to the Reserve account. Ensure that customers follow all security controls, including caller ID, authorized relationship service level agreement and quality measures.
  • Escalate to management any service-related problems, either with customers or applications.
  • Provide annual weekend testing support.
  • Work closely with customers over the phone to test software and network connections to restore service and resolve any contingency communication issues.
  • Assist and participates in the development of new operational procedures related to all business processes.
The Federal Reserve System

The Federal Reserve System

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The Federal Reserve System serves as the central bank of the United States, playing a crucial role in the global economy. It is responsible for formulating national monetary policy, supervising and regulating banks, and providing financial services to banks and the U.S. government. The Federal Reserve's operations help maintain a stable financial system and promote economic growth. Unlike other financial institutions, the Fed has a unique position as a government entity that influences monetary policy and banking regulations. The goal of the Federal Reserve is to foster a healthy economy and ensure the stability of the financial system, while also supporting the diverse needs of its workforce and encouraging personal growth.

Company Size

1,001-5,000

Company Stage

N/A

Total Funding

N/A

Headquarters

null

Founded

1913

Simplify Jobs

Simplify's Take

What believers are saying

  • Collaboration with fintech enhances digital currency initiatives.
  • Interest rate stability encourages investment and economic growth.
  • Involvement in small business lending supports innovation and fairness.

What critics are saying

  • Ending Operation Chokepoint 2.0 may increase systemic risk.
  • Trillion-dollar losses raise concerns about the U.S. dollar.
  • Litigation challenges could impact regulatory authority and effectiveness.

What makes The Federal Reserve System unique

  • The Federal Reserve is the central bank of the United States.
  • It formulates national monetary policy and regulates banks.
  • The Fed provides financial services for banks and the U.S. government.

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Benefits

Health Insurance

Dental Insurance

Vision Insurance

401(k) Company Match

401(k) Retirement Plan

Paid Vacation

Paid Sick Leave

Paid Holidays

Pet Insurance

Wellness Program

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