Operations Support Manager

Company

Federal Reserve Bank of Boston

To be a candidate for this position you must be local to a Federal Reserve Bank location and have proof of US citizenship or Permanent Residency, and you must have resided in the United States for at least the past three (3) years.

This is a Hybrid role requiring a schedule with 50% onsite work expected.

The FRFS Payments Operations team specializes in servicing the customer relationships and supporting the business activities of securities issuers and settlement agents for the Fedwire® Securities Service and the National Settlement Service (NSS), respectively. We also support the processing of certain retail payments for FedACH® and Check Services. In addition, we manage the service extension process on a national level for the Fedwire® Securities Service, the Fedwire® Funds Service and NSS. Collectively, these services clear and settle financial transactions exceeding $4 trillion per day and represent a foundational underpinning of the United States financial system.

What you will do:
Operations Management:

• Supervise staff responsible for performing daily critical, detail-oriented Fedwire® and NSS operational activities, which may include:
  • Issuing, servicing and redeeming securities for the Treasury and various domestic and international government agencies via the Fedwire Securities Service
  • Processing occasional outgoing funds payments via the Fedwire Funds Service
  • Managing end-to-end customer support to NSS agents, including but not limited to onboarding/offboarding activities, settlement arrangement maintenance and mailbox management, settlement file monitoring and communicating customer account structure changes
  • Communicating and managing service extensions and closings for the Fedwire Securities Service, Fedwire Funds Service and NSS.
• Collaborate across multiple operations sites in coordinating management and staff coverage needs and work distribution, administering training initiatives, and resolving and reporting operational issues and/or risk events under a “one team” approach
• Actively support customer relationships by responding to customer inquiries and conducting investigations regarding business transactions for securities issuers, depository institutions, settlement agents, other Reserve Banks and internal customers.
• Review and approve payment transactions associated with the operation’s daily settlement proofs
• Participate in and lead staff in different testing initiatives, which may include supporting Fedwire and NSS customers engaged in Saturday contingency testing 3 – 4 times per year and performing internal User Acceptance Testing for system enhancements
• Independently represent the operations management team at meetings with internal and external customers and in preparing and delivering presentations about the operations

People Management:

• Proactively lead 3 – 5 staff by giving support, guidance and coaching, setting clear and consistent performance expectations, establishing accountability, delivering timely and actionable feedback and providing employee recognition
• Identify and provide opportunities for staff professional development and training
• Promote an inclusive culture of collaboration and teamwork and a positive work environment
• Treat all staff members fairly and with respect
• Demonstrate a clear commitment to diversity of thought, people and perspective

Project Management and Process Improvement:

• Participate in and/or lead internal, cross-district and/or industry projects and workgroups, as assigned
• Foster a continuous improvement mindset, identifying improvement opportunities and developing, documenting and implementing procedures and practical solutions to increase efficiencies and mitigate risks within the operation

What we are looking for:

• Bachelor’s degree in business, accounting or related field from an accredited college or university, or a combination of commensurate education and experience, required; Masters or an advanced degree, a plus
• Minimum 5 – 7 years of operations management experience in a payments operations processing environment or related field, preferred
• Proven leader with the ability to mentor, motivate and train staff and review detailed work performed in a fast-paced operations environment, preferred
• Knowledge and skills related to cash and collateral proof procedures preferred; knowledge of Fedwire payments business, a plus
• Knowledge of standard practices and procedures within the Payments industry, a plus
• Expertise in relationship management with an exemplary ability to establish an