Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland’s mission is to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems while representing the Fourth District perspectives.
As part of the nation’s central bank, we are a team of mission-driven professionals who are committed to serving with excellence. Our core values are: Build Trust Every Day, Own Our Actions, Collaborate with Intention, and Be Open to Change.
For twenty-six 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.
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To be considered for this role, candidates must be a U.S. citizen.
Assists in managing and providing high-level analysis of daily payments activity generated by the Treasury Revenue Collection Management division programs and applications managed by the Federal Reserve Bank of Cleveland. Responsible for accounting, reconciliation, complex research and exceptions including check adjustments, returns and other financial payment activity related tasks from all eGov Revenue Collection payments programs. Maintains efficient, accurate settlement of transactions collected by Government Agencies presented for payment. Utilizes various Digital Wallets, FedACH, and Check21 systems to receiving depository financial institutions. Leverages payments knowledge to provide front line support to customers residing at various government agencies, commercial banks, and Treasury. Provides front end customer service in support of Adjustments Corrections or Recessions (ACR), Pay.gov applications and CIR and Mobile User Provisioning. Provides insight to the Project Management team working closely with senior level staff to assist in defining requirements for future program enhancements.
Essential Accountabilities
Monitors for successful acceptance and balancing of origination (forward), return payments and check adjustment files submitted by multiple source systems and managing the flow and status of transactions within the Debit Gateway application resulting in settlement to the Treasury General Account. Coordinates with Analyst staff to ensure that activity from all partners settles as expected.
Reviews payment exceptions generated on incoming payments due to anomalies within transaction data such as missing or incomplete financial account data (Check information), potential duplicate presentment issues and other daily payment
related exceptions.
Acts as Central Business Administrative Function for the Direct Voucher System, Treasury Cash Management System, and Treasury Check Information System ensuring that all Federal Reserve users receive basic support on accounting voucher
and application issues as well as working with senior level staff on more complex issues.
Self-manage daily payments activity and follows vaguely or undefined procedures under minimal supervision allowing for accurate settlement of Government collection payments and timely money movement within Fiscal Service occurs.
Ensures technical resources are handed off necessary issues resulting in resolution of application related problems.
Acts as front-end customer service with source system (commercial bank, government agency, etc.) on any issues pertaining to payments ensuring that appropriate notice is given allowing same day resolution of payment file issues to take place.
Develops in-depth knowledge of payments industry and best practices including NACHA and regulatory Check processing guidelines.
Participates in User acceptance testing, disaster recovery exercises, treasury services application testing, software release deployments and other various off hour’s activity.
Basic knowledge of creating, modifying, deleting configuration endpoints of external Agencies and users across several Treasury Applications.
Performs other duties as assigned or requested
Education and Experience
RCM Analyst
Bachelor’s degree and 3 years of related work experience OR
Associate’s degree and 5 years of related work experience
AAP or NCP designation preferred
RCM Analyst Associate
Bachelor’s degree and no prior years of related work experience OR
Associate’s degree and 3 years of related work experience OR
High school diploma/GED and 5 years of related work experience
Knowledge and Skills
Skill Area - Intermediate Level
Communications (verbal and written)
Listening
Analytical
Technical
Ability to perform more complex and one-time tasks with some guidance
Capable of identifying and/or recommending continuous improvement opportunities within the team
Ability to work as an individual contributor to related projects with some guidance
Understanding of Internet and computer technology
Ability to train Electronic Payment Processors in at least one Operations Business Line
Microsoft Office Suite
The expected starting salary range for the RCM Analyst Associate is between $50,000 and $66,700 annually and for the RCM Analyst is between $59,600 and $82,000. Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and market data.
The Cleveland Fed offers benefits to support overall health and financial security. Learn more about our benefits here: https://www.clevelandfed.org/careers
Physical Demands and General Working Conditions
This is not necessarily an exhaustive list of all responsibilities, duties, 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, the Federal Reserve Bank of Cleveland reserves the right to revise this or any job description at any time.
Reasonable Accommodation Statement - The Federal Reserve Bank of Cleveland is committed to ensuring that individuals with disabilities are provided with reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. To request a reasonable accommodation for any part of the employment process, please send an email to [email protected].
Bank’s Ethics Rules and Drug Testing:
As a condition of employment, Federal Reserve Bank of Cleveland employees must comply with the Bank’s ethics rules which generally prohibit employees, their spouses/domestic partners, and minor children from owning or controlling, directly or indirectly, any debt or equity interest in a depository institution or an affiliate of a depository institution. A "depository institution" means a bank, a trust company, or any institution that accepts deposits, including a bank chartered under the laws of a foreign country. In addition, employees (and their spouses/domestic partners, and minor children) may not own shares of mutual funds, unit investment trusts or ETFs that have a policy, as stated in the prospectus, of concentrating in the financial services industry and that have underlying investments in banks or other depository institutions. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting.
In addition, as a condition of employment, candidates must undergo a background check and will be tested for all controlled substances prohibited by federal law, to include marijuana, prior to hire and for certain safety sensitive positions during employment.
Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels
Full time
Regular
No
Operations Family Group
First (United States of America)
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.
Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.
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