Account Services Responsibility Manager - Markets Group
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 Customer Account Services (CAS) directorate is responsible for relationship management, service administration, investment and liquidity management, customer trend analysis and market intelligence activities. The Account Services Management (ASM) staff is one of four units in the CAS directorate within CBIAS. ASM is responsible for delivering new services and business initiatives, collecting customer information, and disseminating standardized communication to account-holders. ASM also administers and maintains account-holder facing technology platforms and is responsible for access privileges. In addition, ASM works across CBIAS to formulate business policies and processes account-holder reporting. The CAS directorate is currently seeking a responsibility manager for the ASM staff in New York. Working closely with ASM’s Staff Coordinator and other team members, the responsibility manager will supervise the organization and execution of daily activities to ensure that they are conducted in an efficient and well-controlled manner. The selected candidate will also be involved in a variety of project endeavors. Your role as Account Services Responsibility Manager:
Qualifications: What we are looking for:
- Lead the team in the execution of daily activities, including the maintenance of customer static data and account eligibilities, and communications with official international customers;
- Oversee analyst assignments, coach and mentor staff, contributing to their development and goal setting processes;
- Contribute towards the formation of business and service policies, geared towards service/product development, technological enhancements, contingency planning, risk reduction, and/or improved customer service;
- Evaluate proposed new account usage and account opening requests;
- Lead service roll-outs or broad communications (such as legal terms updates) to all CBIAS account holders by organizing initial communications, tracking customer responses, and updating relevant stakeholders on progress;
- Manage the CBIAS customer website and the other external facing on-line services;
- Propose and implement process improvements for operational activities and update associated procedural documentation;
- Lead tax reporting process on behalf of official international customers, which includes managing the relationship with external consultants, lead effort to obtain requisite tax certifications from CBIAS customers and organize workflows to fulfill income reporting and ensure compliance with IRS regulations; and
- Contribute to the on-boarding and training processes for new team members.
This position requires access to 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, U.S. permanent residents who are not yet eligible to apply for naturalization and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so. 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.
- Bachelors’ degree in business, economics, statistics, finance, or a related discipline with 7 or more years of relevant work experience, Masters’ degree in international relations or business a strong plus;
- Demonstrated aptitude for account management responsibilities with strong attention to detail, and ability to anticipate and resolve issues as they arise;
- Strong analytical, critical thinking and problem-solving skills with proven ability to recommend ways to enhance customer relations, account management, operational efficiencies, contingency preparedness, and analytical work.
- Excellent written and verbal communication skills; ability to extract key points while providing concise, articulate, and insightful analysis and recommendations in written and verbal form.
- Demonstrated ability to effectively lead complex projects and/or processes, with an emphasis on creating strong team dynamics and a proven track record of driving results while balancing competing priorities.
- Strong interpersonal skills and ability to interact and collaborate effectively with team members, peers, senior management, and external parties. Strong ability to maintain composure during stressful situations and build consensus in achieving results.
- Strong sense of initiative and intellectual curiosity.
- Flexibility to travel to Richmond, VA site on a periodic basis.