Company

Federal Reserve Bank of Philadelphia

The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.

Reporting to the Cash Supervisor, you will follow a strict set of defined rules and regulations, to Receive, Payout, and Process currency in a high-volume production environment with support. While Cash handling experience is beneficial, it is not a requirement for this position. Consideration will also be given to individuals who have warehouse or manufacturing experience. The Cash Operation Assistant will support the destruction and distribution of currency according to established guidelines.

Upon hire, training will be during the 1st shift, Monday- Friday 6:30 AM – approximately 3:30 PM, flexibility is needed for potential overtime and end of shift settlement.

Anticipated in May 2025, your schedule will change to the 2nd shift, Monday -Thursday, 6:00 p.m. to approximately 5:00 a.m., with the Thursday shift ending Friday morning. Flexibility is needed for potential overtime and end of shift settlement.

What You Will Do:

Depending upon your assigned area of operation, responsibilities include only the appropriate items below:

You will perform currency verification responsibilities on a rotating basis including, preparing currency for machine processing; verify currency; operate BPS3000 processing equipment; reconcile machine-rejected notes; and prepare documentation and complex settlements and reconcilements for the work processed by the team.

You will be required to meet production standards and quality measures given a specified time frame.

As part of a processing team on a rotating basis:

You will accept and verify deposits of currency and coin from armored carriers; inspect bags of currency and coin for integrity; verify the currency or coin received according to department procedures; weigh bags which are suspected not to contain the reported value; identify discrepancies in deposits of currency or coin and returns to the sender.

Perform a physical inventory of holdings periodically to ensure accuracy and at the end of the day establishes accountability and prepares financial settlements at the end of the processing day. Perform as member of a team with primary responsibility for filling currency orders with fit currency from the Currency Counting Unit and new currency from Bureau of Engraving and Printing for pay-out to designated carriers. Perform physical inventory of holdings after each order is released and at the end of the day and for preparing financial settlements daily.

You may be assigned responsibility to perform as a witness for currency destruction or help with other areas of Cash operations as determined by workflow and volume.

You may be assigned to a vault control team with accountability for a large inventory of currency or coin. Transfers currency and coin to processing units following established controls and procedures and maintains custody of valuables from receipt until transfer. Maintain control of and accountability for an inventory of currency or coin, perform settlements of transfers, transactions and end of day balances. Enter data into the Integrated Accounting System or Standard Cash Application for all transactions conducted and internal transactions between teams within the Cash Department. Perform entry of transactions, inventory maintenance, verification, balancing, accounting entry and proof generation on a personal computer or similar device. Inspect the work area at the end of the processing day to ensure that all valuables have been secured to department standards.

Monitor and record problems with deposit quality and makes recommendations to management to enhance effectiveness and efficiency. As scheduled, sets currency vault clocks and opens and closes vault according to prescribed procedures. Fulfill job responsibilities in conformance with sound safety practices. Performs other related duties as assigned.

What You Have:

Knowledge:

Knowledge or relevant experience of cash operations and clerical tasks.

Communicate with department and team.

Identify, and resolve less complex settlement issues. Work with a minimum level of guidance. May require the ability to operate forklift vehicle.

What You Have:

• High School diploma preferred or equivalent work experience.
• Entry level math test (administered by recruiter) may be required before interview by department.
• Minimum one year work experience in similar capacity.

Other Requirements:

• Employee is confined to a specific area with accountability for large amounts of money. When working as part of a team, you must remain or leave the area in tandem with the other team members and actively conform to all other custody control standards at all times.
• Employee must wear safety shoes when operating hand jack/lift and wear a smock when valuables are present. Employee is restricted to a small, confined area.
• If assigned to the back vault, employee must work in large area which contains stacked trucks of currency.
• Ability to lift 5-50 lbs. from ground level up to a height of 6 feet. The strength to push/pull trucks weighing 500-850 lbs. and push/pull trucks weighing over 1,000 lbs. up to a distance of 200 feet. Ability to load/unload up to 4,000 bundles of currency per day.
• Ability to work at a PC entering currency orders for extended periods of time.
• Ability to work while standing for long periods of time. Operate the offline currency cancellation equipment.
• You have flexibility in working different shifts.

The salary grade for this position is: Grade 5. Final salary and offer will be determined by the applicant’s background, experience, and skills, and internal equity and alignment with market data.

We offer a great benefits package that features:

• Medical (4 options), Prescription, Dental (3 options), and Vision Insurance with no waiting period
• 401k/Thrift Plan with generous employer match
• Employer-funded Pension Plan
• Paid Vacation/Sick Time & Holidays
• Monthly $100 Commuter Allowance
• Flexible Spending Accounts and Healthcare Spending Accounts
• Flexible Work Schedule available in most departments
• Life Insurance and Long Term Disability Insurance
• Tuition Reimbursement (undergraduate and graduate)
• Parental Leave
• Free onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilities
• Onsite Cafeteria & Coffee Shop
• Additional Convenience Benefits, Discounts and More…

Additional Information:

• The Federal Reserve Bank of Philadelphia takes your information privacy seriously. Federal Reserve Bank of Philadelphia staff will only email you from the “@phil.frb.org” domain or through the Workday system “rb@myworkday.com”. If you are initially contacted by phone, feel free to request that the caller provide you with their email address to validate their identity. If you have any questions about the validity of someone who contacts you regarding this position, please email the Talent Acquisition team at TalentAcquisition@phil.frb.org.
• The Federal Reserve Bank of Philadelphia believes that diversity, equity and inclusion among our employees is essential to our success as an organization, and we want to recruit, develop and retain the most accomplished people from a diverse candidate pool. To support a workplace culture of belonging, we offer eight employee resource groups (ERGs) and a 100 percent rating on the Human Rights Campaign (HRC) Corporate Equality Index. The Federal Reserve Bank of Philadelphia is proud to be an equal opportunity workplace.
• We have eight employee resource groups (ERGs) to support a diverse workforce. Abilities (supporting disabilities and allies), African Heritage, Asian-Pacific, Freedom (supporting LQBTQ+ and allies), Talent Forward (supporting career growth), Women United, Working Families and Veterans. ERGs are open to all employees.
• We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment. If you need assistance or an accommodation due to a disability, please email us at TalentAcquisition@phil.frb.org.
• All Federal Reserve Bank of Philadelphia employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. 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, who can provide you contact information for our ethics officer if necessary. You should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
• Background investigations and drug testing are required for all new hires as a condition of employment, after the job offer is made. Candidates for positions deemed as "safety sensitive" will also be screened for the presence of marijuana. *This is a safety sensitive position*.
• Employment may not begin until the Bank accepts the results of the background investigation.
• All employees will be subject to FBI fingerprint / criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.
• Certain eligibility rules apply. You will provide work authorization to prove your eligibility to work in the United States.
• The above statements are intended to describe the general nature, level of work and the requirements of this position. They are not intended to be an exhaustive list of all responsibilities associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.
• This is not a remote opportunity. You will be available to work on-site.
• Learn more about the Philly Fed and its culture. Learn more about working for the Philly Fed.

#LI-Onsite

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

No

Job Category

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.

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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