Account Services Associate (New York City or Richmond, VA locations) Account Services Associate (New York City or  …

Federal Reserve Bank of New York
in New York, NY, United States
Permanent, Full time
Be the first to apply
Federal Reserve Bank of New York
in New York, NY, United States
Permanent, Full time
Be the first to apply
Account Services Associate (New York City or Richmond, VA locations)
What we do:
The New York Fed, on behalf of the Federal Reserve System, offers correspondent banking and custody services to central banks, monetary authorities and certain international organizations to facilitate their official financial operations. 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 international customers by offering payment, custodial, clearing and settlement, collateral management, and investment and liquidity services. With more than $3.0 trillion of custodial holdings, representing about half of global U.S. dollar-denominated foreign reserves, CBIAS offers financial services that directly support the Bank’s role in international affairs, as well as monetary policy and financial stability. CBIAS currently runs a split operation with staff located at two locations, New York City and Richmond, Virginia.

The Account Services Management (ASM) staff is one of four staff units in the Customer Account Services (CAS) directorate within CBIAS. The CAS directorate is responsible for relationship management, service administration, investment and liquidity management, customer trend analysis and market intelligence activities. The CAS directorate is currently seeking an account services associate for the ASM staff. ASM is responsible for delivering new services and business initiatives, collecting customer information, and disseminating standardized communication to account-holders. ASM administers and maintains account-holder facing technology platforms and is responsible for customer access privileges. In addition, ASM works across CBIAS to formulate business policies and processes, and account-holder reporting. Recently, ASM has taken on the responsibility for administering the cyber security program for its central bank customers.

Your role as Account Services Associate:
  • Propose and implement process improvements for operational activities and update associated procedural documentation, including for the adoption of a Customer Relationship Management (CRM) system;
  • Execute daily activities, including the maintenance of customer static data and account eligibilities, and communications with official international customers;
  • Maintain and enhance tools (i.e. Excel, Access, SQL queries) that support operational processes;
  • Contribute to service roll-outs or broad communications (such as legal terms updates) to all CBIAS account-holders by organizing initial communications, tracking customer responses, and collecting customer data;
  • Form business and service policies, geared towards service/product development, technological enhancements, contingency planning, risk reduction, and/or improved customer service. Seek input and approval from management, second line of defense and other stakeholders;
  • Contribute to and lead some business processes, including, but not limited to cyber security program for central bank customers, IRS tax reporting, and validating access provisioning.
  • Contribute to the assessment of customer requests for opening, closing, and updating accounts and other services by understanding the usage within the CBIAS account usage policy and service offerings; and
  • Update CBIAS customer website and the other external facing on-line services.

What we are looking for:
  • Bachelor's degree in business, international affairs, policy, or a related discipline; master’s degree preferred;
  • At least five years of relevant work experience with knowledge of banking operations and relationship management a plus;
  • Demonstrated aptitude for account management responsibilities with strong attention to detail, ability to resolve issues as they arise, and to self-start and self-prioritize assignments and make timely and effective decisions;
  • Demonstrated track record of successfully participating and contributing to projects/initiatives;
  • Ability to provide concise, articulate and insightful analysis in written and verbal form;
  • Ability to collaborate and partner with stakeholders and build working relationships with peers;
  • Interest in international affairs a plus;
  • Strong sense of intellectual curiosity;
  • Experience managing and manipulating data sets using analytical tools (e.g. Excel, SQL, VBA);
  • Programming experience (e.g. MatLab, Python, R) and/or familiarity with data visualization tools (e.g. Spotfire, Tableau) is a plus; and
  • Interest and knowledge of cyber security, information security, and/or IT risk management a plus.

Please note that the position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements.

In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.

Screening Requirement: This position has additional screening requirements due to the information accessed while performing the job. These additional screenings would be initiated at the time of offer acceptance and can take a couple of months to be completed. You can begin work before the screening is completed; however, continued employment is contingent on acceptable screening results. The screening areas such as education/employment verification, criminal history, credit history, and reaches out to your references and people that know you well.

The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.