Job Description:

Company

Federal Reserve Bank of New York

Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It is a challenge that demands the skills of a financial service professional and the intelligence of an academic—all combined with a passion for public service.

This position will offer workplace flexibility e.g. working remotely or on site as needed/ desired during the week. Employees can expect to be in the office weekly as needed for meetings and team collaboration and should live within a commutable distance. The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person a couple days a week.

What we do:

The Financial Services Group is responsible for providing banking services to the U.S. government, banks and other financial institutions.  Within this group, there are two primary businesses: Wholesale Product Office and Cash Function.

The Wholesale Product Office (WPO) operates a critical financial services business on behalf of the Federal Reserve System (FRS). The WPO is responsible for the management, operation, support and development of wholesale services (Fedwire Funds Service, Fedwire Securities Service and National Settlement Service), which includes developing new services, service enhancements, and pricing models, and ensuring the technology used to deliver the wholesale services is secure, resilient, and satisfies business requirements. Wholesale services are systemically important financial market infrastructures (FMIs) and are central in supporting settlement for other systemically important private-sector FMIs. Further, as a central bank-operated business, wholesale services faces unique challenges akin to a private-sector business but overlaid with a financial stability mission and an evolving supervisory landscape for systemically important FMIs. The WPO carries out its mission through a team operated out of the Federal Reserve Bank of New York (FRBNY) and a network of critical Reserve Bank service providers.

The NY Fedwire Operations’ Wholesale Testing Services (WTS) provides operational and test support for the Fedwire Funds, Fedwire Securities and National Settlement Services customers in the Depository Institution Test (DIT) environment. The WTS staff performs a critical role in evaluating the readiness of the customers’ testing efforts for the Fedwire applications in the DIT, in addition to the customers’ transition to the production environment. The team supports critical high priority objectives for the wholesale services in addition to Fedwire customers’ internal critical business application implementations.  The members of the WTS interact and work closely with customers and staffs from the WPO business lines, Fedwire Production Operations, Customer Relations Support Office in Chicago (CRSO) and National Information Technology (NIT).

Your role as a Testing Support Associate:

• Oversee customer application testing initiatives involving the Fedwire Funds and Fedwire Securities services, for those customers who access Fedwire services via  FedLine Direct (FLD) and/or FedLine Advantage (FLA) channels;




• Oversee testing requirements both Federal Reserve initiated, and customer initiated.




• Support and contribute to the accomplishment of high priority objectives of the Wholesale Product Office related to changes affecting customers of Fedwire services;




• Provide a very high caliber of customer service to all depository institutions, including ensuring customers satisfy all testing requirements related to the Certification process; escalate issues and concerns appropriately and timely;




• Interact and collaborate with FRB's Richmond Wholesale Testing Services in supporting customer testing efforts;




• Oversee the Depository Institution Testing environment (DIT) and escalate issues and concerns;




• Provide Saturday (pre-production) support for customers performing Operational Readiness Testing (ORT) and support for customers performing regular testing in our DIT environment;




• Participate on conference calls with customers; represent the WTS on work groups, make significant contributions to projects and work group initiatives.




• Ability to work on and contribute to internal and customer driven projects; on-demand projects/initiatives.

What we are looking for:

• Bachelor’s degree or equivalent work experience.  




• Five years of experience in a role providing client service and providing oversight to testing and serving as a liaison for business stakeholders




• Knowledge of payment systems or Fedwire and/or the operations businesses is required




• Excellent analytical and technical problem-solving skills including experience driving process efficiencies




• Strong communications skills, with the ability to interact with customers as well as various levels of management and staff, maintain effective working relationships across the organization




• Demonstrated proficiency with Microsoft Office (Word, Excel, PowerPoint)




• Understanding of payment systems, Fedwire applications and terminology within the Federal Reserve technology environments highly desired




• Demonstrated ability to work effectively both independently and as part of the team;




• Knowledge of and proven ability to understand distributed computer processes and MQ architecture is desirable;




• Knowledge of one or more of the key support tools and applications is preferable (I.e. BMC Patrol, LCD, Lighthouse, Funds or Securities applications)




• Strong attention to detail to ensure all tasks and deliverables are completed to successfully deliver services for our customers

Benefits:

Our organization offers benefits that are the best fit for you at every stage of your career:

• Fully paid Pension plan and 401k with Generous Match




• Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)




• Subsidized Public Transportation Program




• Tuition Assistance Program




• Onsite Fitness & Wellness Center




• And more

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.

Incumbent must be fully vaccinated against COVID-19, unless the Bank grants an exemption based on a medical condition or sincerely held religious belief.

Candidates must undergo an enhanced background check and will be tested for all controlled substances prohibited by federal law, to include marijuana

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Information Technology

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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Salary: $100,100.00

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