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Settlement, Clearing and Collateral Management Senior Associate - CBIAS - Markets Group more...
Location:New York, NY
Company:Federal Reserve Bank of New York
First posted:June 02, 2017 (last updated 30+ days ago)

Primary Location: NY-New York City

Full-time / Part-time: Full-time

Employee Status: Regular

Overtime Status: Exempt

Job Type: Experienced

Travel: No

Shift: Day Job


The New York Fed, on behalf of the Federal Reserve System, offers correspondent banking and custody services to foreign and international monetary authorities (FIMA) and the System Open Market Account (SOMA) to facilitate their official financial operations, and support financial stability in the U.S. and abroad. 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 account holders by offering payment, custodial, clearing and settlement, collateral management, and investment and liquidity services. CBIAS has a long history of providing safe and efficient banking services to its account holders and today helps to manage over $7 trillion in dollar reserve portfolios for over 250 FIMA account holders, as well as SOMA, with transaction volume presently in excess of $300 billion per day. CBIAS currently runs a split operation with staff located in New York City and Richmond, Virginia.

The Settlement, Clearing and Collateral Management (SCCM) Directorate within CBIAS is responsible for all clearing and settlement services for SOMA market operations and FIMA accounts activities, as well as collateral management services. The SCCM Directorate is seeking an experienced associate to fill a Responsibility Manager role in order to provide management support to a team of professional analyst on the Foreign Settlement Services (FSS) staff. FSS performs a variety of business activities in providing vital confirmation, clearing, settlement, and payment services to support foreign customers and the System Open Market Account (SOMA) portfolio. This position offers a unique blend of business analysis, process reengineering and collaboration with business and technical support areas to develop and incorporate solutions that will improve and automate business processes. The selected candidate will have the opportunity to demonstrate their unique blend of operations, analytical and technical skills in this position.


  • Lead the team in monitoring and managing the clearing and settlements service business with a focus on effectively performing settlement operations, resolving issues and addressing inquiries/needs of foreign central banks, international agencies, and the SOMA's Open Market Operations Desk
  • Provide coaching to analysts; contribute to staff goals setting and performance appraisals, and coordinate staff training and coverage to ensure adequate level of cross training for appropriate coverage of business responsibilities.
  • Develop a strong understanding of the process and systems that support the operation to effectively troubleshoot operational issues and continuously evaluate existing processes to enhance them or develop new ones to increase the efficiency of activities and reduce operational risk.
  • Function as subject matter expert to communicate business requirements in the context of these systems and in efforts relating to collateral management tool building project teams.
  • Contribute to the management of relationships with counterparties, external parties, vendors, etc. as they relate to FSS business activities.



  • Five or more years of financial services operations experience, preferably in clearing settlements operations
  • Two or more years of experience in a people management or team lead role
  • Demonstrated ability to think critically, assimilate new information, make sound decisions, manage multiple responsibilities and respond effectively in time pressured situations or to meet tight deadlines.
  • Strong interpersonal skills, including the ability to proactively forge and maintain effective working relationships with staff and management.
  • Strong verbal and written communication skills to appropriately convey information to staff, management and others. Effective presentation skills are also desirable.
  • Demonstrated ability in taking on initiative and in being self-directed.
  • Bachelor's level degree in business, finance, economics or related field.
  • Experience on projects or in managing projects is a plus. Experience in querying, managing, and manipulating data using Excel, Crystal, or Access is a plus.



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



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.



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.

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