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About the Role

As an Account Policy Specialist reporting to the RBAS Director, you will serve as an advisor and policy strategist for master accounts, proposed payment accounts, excess balance accounts, joint accounts, designated financial market utilities (DFMUs), and Federal Reserve financial services. This role involves engaging with customers and cross-Bank colleagues, maintaining Federal Reserve System relationships, and understanding the implications of policy issues related to account access and financial services.

Responsibilities

Act as an advisor and policy strategist related to the provisioning of master accounts, proposed payment accounts, excess balance accounts, joint accounts, DFMUs and Federal Reserve financial services.
Engage with customers and cross Bank colleagues and stakeholders (e.g. Legal, Credit, Risk, Compliance, and Policy areas) and maintain Federal Reserve System relationships.
Understand the implications of various policy issues related to account access and financial services.
Determine how approaches to managing account access may need to be adjusted.
Work collaboratively with multiple stakeholders to drive outcomes.
Demonstrate understanding of various policy and environmental dynamics with potential implications to Federal Reserve System account and financial services policies, practices and procedures.
Provide recommendations on improvement opportunities.
Synthesize and present complex topics, research, and analysis for a variety of FRS stakeholders and Bank executive leadership.
Collaborate with multiple discipline areas on account policy matters.
Drive innovative, continuous improvement on approaches, actions and/or processes supporting the Administrative Reserve Bank role.
Engage with RBAS Account Managers to ensure timely and successful review of account and financial services requests.
Provide peer reviews and resolve difficult and complex problems related to account access and financial services.
Contribute to and/or lead bi-weekly stakeholders’ meetings on account access reviews.
Participate in related FRS workgroups (e.g. System’s Account Request Information Sharing Group).
Manage projects within the role.
Represent the work of RBAS in related risk and/or audit reviews.

Requirements

Experience in Federal Reserve System policy advisory work related to master/proposed payment accounts, financial services, excess balance accounts, joint accounts, DFMUs and/or stablecoin issuers.
Demonstrated excellence in understanding account management activities or related work.
Advanced analytical skills, including ability to interpret policy requirements and use technology tools to support analysis.
Strong experience collaborating with a variety of stakeholders to achieve objectives.
Advanced communication skills, with the ability to effectively make connections, ask insightful questions, and synthesize information tailored to audience, included executive management.
Understanding of internal controls and risk management practices and/or relevant disciplines (e.g. background or experience in BSA/AML and OFAC Compliance).
Knowledge of project management methodologies and tools.
This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information.
All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to expeditiously become a lawful permanent resident and thereafter a U.S. citizen when eligible.

Skills

Policy advisory
Account management
Analytical skills
Collaboration
Communication skills
Internal controls
Risk management
BSA/AML
OFAC Compliance
Project management

Location

New York

Work Type

Full-time
Regular

Salary/Compensations

$175,000 - $205,000

Benefits

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

About the Company

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.
As part of the Operations and Resiliency Group, the Reserve Bank Accounts and Services (RBAS) is responsible for the administrative, business, risk, and compliance activities related to the provision of master accounts and Federal Reserve financial services for second district customers.
The RBAS team functions as the central communication and coordination liaison between the Bank's internal and external customers, with respect to on-going account management for the duration of the customer relationship.
Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank.
They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us.
The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person.
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.

Equal Opportunity

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.
We value accessibility for all candidates and are happy to provide an accommodation or assistance.