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Cash Services Clerk- High Speed Operations at Federal Reserve Bank (FRB) in Philadelphia, Pennsylvania

Posted in General Business 30+ days ago.

Type: Full-Time

Job Description:

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.

Job Summary:

Under direct supervision and following strict custody control guidelines, Treasury regulations, and department procedures accept accountability for large amounts of currency or coin and perform responsibilities in the assigned unit requiring a limited amount of decision-making. We ask that you have flexibility as you will rotate with experienced level clerks to learn the duties and responsibilities to the next grade level.


Depending on the assigned area, responsibilities include only the appropriate items below:

Process currency on a high speed processing system, or a medium speed reconciliation station. As part of a processing team, perform responsibilities on a rotating basis including: the preparation of money for machine processing, the operation of currency verification, counting and sorting equipment, and the reconciliation of machine rejected notes. May prepare and piece count special deposits.

Receive and verify currency and coin deposits from armored carriers, compare straps and bundles to deposit slips; inspect the integrity of bags and seals and notify management of exceptions. Transfers valuables to and from other processing teams following established controls and procedures and maintains custody of valuables from receipt until transfer. Manually transport containers to and from vault using fork lift equipment to stack containers in vault.

Receive and verify new coin shipments from U.S. Mint, and circulated coins from financial institutions and offsite coin terminals. Perform an integrity inspection of bags; fill coin orders, pay coin to armored carriers and returns coin pallets to U.S. Mint in accordance to established requirements.

Prepare currency orders for pay-out to designated carriers. Ensure orders for all financial institutions are accurately completed in strict adherence to established procedures. Ensure that sufficient currency is on hand to fill orders and that excess currency is properly stored.

Be part of the vault team with accountability for a large inventory of currency or coin. Transfers currency and coin to processing units in following established controls and procedures and maintains custody of valuables from receipt until transfer. Performs settlements of transfers, transactions, and end of day settlements.

Be the Accommodation Teller for Federal Reserve Bank Employees.

Perform witness functions to support Independent Destroy All (IDA) processes as required by the Office of Compliance (Treasury).

May assist management in conducting audits of off-site coin terminals or Strategic Inventory Locations.

Periodic Duties:

May participate in the off-line currency destruction process.

Fulfill job responsibilities in conformance with sound safety practices.

Performs other related duties as assigned.