Cash Operations Specialist

Company

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is part of the nation’s central bank and we’ve provided many opportunities for professional growth during our history.

For twenty-five years in a row, we’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

Our People Make the Difference! The Federal Reserve Bank of Cleveland is seeking innovative thinkers with vision to build the framework that will carry the Bank into the future.

Follow us on LinkedIn, X, Instagram, and our YouTube channel – Cleveland Fed

SHIFT: this role is onsite in Cincinnati, Ohio supporting first shift hours Monday-Friday 7am-3:30pm

Organizational Expectations:

As a cash operations specialist as part of the paying and receiving team in the cash operations area, you will ensure the appropriate circulation of currency/coin inventory to meet the needs of financial institutions during normal operations and periods of contingency events. You will apply developed job knowledge and experience to receive, verify and/or pay out large volumes of currency, and coin in a team environment. You will perform complex balancing and other data entry tasks with minimal supervision and may perform basic accounting and financial functions. You will apply independent judgment and discretion within the framework of governing procedures to maintain custody and accountability in a valuables handling environment.

General Responsibilities:

• Prepare and process large volumes of currency/coin in a highly controlled team environment – apply developed job knowledge and experience to operate equipment and exceed district productivity and compliance metrics.

• Adhere to processes and procedures to perform initial receipt and verification, destroy large volumes of currency, and/or payout currency following procedures described in Treasury Currency Operations Manual (TCOM), Custody Control and Principles and Standards (CCPS) and the District Procedure Manual - this requires using extensive knowledge of multiple procedural documents, including revisions that occur each year.

• Balance deposits/inventory and process financial accounting transactions/entries to depository institutions using accounting operating systems and Cash Services' unique inventory and processing applications.

• Through trained observation, detect and secures counterfeit, old series, and/or altered notes, and prepare notes for transfer to the final disposition. (Must pass counterfeit certification test on a semi-annual basis.)

• Use enhanced knowledge of the currency circulation process and automated systems to help resolve operating exceptions and escalate when necessary – prepare supporting documentation for daily transactions and physical holdings including original source documents that will serve as the official record according to the System Records Retention Manual.

• Perform under the frequent view of compliance and audit staff while maintaining focus on quality, controls, and productivity - employees perform their job responsibilities under constant video surveillance and engage with auditors and to explain processes and procedures.

• Participate in bank wide and district events and/or projects.

• Adhere to department policies and procedures.

• Perform other duties as assigned or requested.

• Adhere to the bank attendance policies through regular and prompt attendance.

Education and Experience:

• High school diploma and no prior experience – strongly prefer related work experience

Knowledge and Skills:

• Ability to perform independent research and perform complex tasks

• Ability to work in a team environment

• Strong attention to detail with ability to follow established policies and procedures

• Basic math and problem solving

• Basic knowledge of cash operations and the prescribed operating procedures, safety, security, and compliance and/or production standards and controls

• Ability to handle sensitive information with confidentiality

• Comprehensive customer service, communication, and interpersonal skills

• Proficient computer skills including Microsoft Office along with other various online applications as needed for the role

Physical Demands and General Working Conditions

This is not necessarily an exhaustive