FRFS Wholesale Payments Specialist
$57,400–$86,100 year
On-site · Atlanta, Georgia, United States or Boston, Massachusetts, United States
Job Summary
Lead customer relationship management for FRFS across six Federal Reserve Districts and oversee collateral custodial operations for state and local governments, including processing offline (telephone) securities transfers and maintaining compliance with Operating Circulars and settlement systems. Manage over 14,000 collateral custodial relationships, monitor collateral values to ensure requirements are met, and coordinate with national sites to provide interfacing customer services. Responsible for updating and supporting FRB New York’s responsibilities, monitoring National Settlement System operations, and supporting CLS/CHIPS settlements. Collaborate with financial institutions and state treasurers on Joint Custody collateral transactions, respond to inquiries, and maintain documentation and databases. Ensure SLA adherence, balance end-of-day cost centers, and assist with software/network testing and contingency communications. Residency must be commutable to Boston or Atlanta offices with a typical schedule of 3-4 days on-site weekly and 1-2 days partially on-site.
Required Qualifications
- Bachelor’s degree or equivalent experience preferred
- Strong understanding of funds and securities industry
- Experience with collateral custodial relationships and settlement processes
- Proven ability to manage customer relationships and coordinate with multiple sites
- Knowledge of Operating Circulars, Regulation J, and national settlement systems
- Ability to work on-site in Boston or Atlanta with commuting residency
- Security screening and background checks required
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