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-four 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.
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SHIFT: this role is onsite in Cleveland, Ohio supporting first shift hours Monday-Friday 7am-3:30pm
Organizational Expectations:
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
Employees in this position work in a controlled environment with one or more partners under Federal Reserve and Treasury custody control standards. This is a very physical job requiring repetitive lifting and moving of currency weighing greater than 30 pounds. Additionally, employees may be required to operate manual equipment (tow motor) to move containers exceeding 1,500 pounds. Limited sitting occurs and most of this job is performed standing and walking in an enclosed work area. Workrooms are climate controlled. However, working conditions may vary due to external elements. Employees need to be aware of their surroundings due to frequent movement of containers. Exposure to noise from various machines will occur. Employees may be required to push and pull currency containers of moderate to heavy weight.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
No
Job Category
Operations
Work Shift
First (United States of America)
The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. 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.
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